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CJR CEO Shaun Duggins, left, is transitioning to president of ReeceNichols’ southern region. He’s pictured with Linda Vaughan, CEO of ReeceNichols, Rick Witeka, general manager of ReeceNichols’ southern region, and Mike Frazier, president and CFO of ReeceNichols.
Photo provided by ReeceNichols
CJR CEO Shaun Duggins, left, is transitioning to president of ReeceNichols’ southern region. He’s pictured with Linda Vaughan, CEO of ReeceNichols, Rick Witeka, general manager of ReeceNichols’ southern region, and Mike Frazier, president and CFO of ReeceNichols.

Carol Jones Realtors merges with sister company

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Springfield-based Carol Jones Realtors is merging with a sister company 10 times its size in a move that means the end of the CJR brand founded in 1983.

The new name is ReeceNichols Real Estate.

Officials with CJR and Leawood, Kansas-based Reece & Nichols Realtors Inc. jointly announced the historic agreement today. ReeceNichols will be the surviving name of the combined company when finalized June 27, officials say.

No money is changing hands in the deal, through which CJR’s territory is becoming ReeceNichols’ southern region, said Mike Frazier, president and chief financial officer for ReeceNichols.

Both ReeceNichols and CJR are owned by Minneapolis-based national real estate firm HomeServices of America, an affiliate of Warren Buffett’s Berkshire Hathaway Energy. ReeceNichols operates in Missouri and Kansas, focusing on the Kansas City metropolitan area.

“ReeceNichols and Carol Jones have been sister companies in the HomeServices family of companies for many years,” said Shaun Duggins, CJR’s CEO who’s transitioning to president of ReeceNichols’ southern region. “As the landscape in real estate changes, it just makes a lot of sense to combine forces.”

Duggins noted the companies’ territories have encroached on one another, with some listings being as close as 20 miles apart near the halfway mark between Springfield and Kansas City.

“It got to the point where we were reaching almost to Clinton,” he said, noting ReeceNichols was doing the same from the north.

Combined, ReeceNichols and CJR last year produced $5.5 billion in sales volume through more than 20,000 transactions. ReeceNichols was responsible for nearly $5 billion of that sales volume and 17,500 transactions, Frazier said, declining to disclose company revenue. Both companies generate about 90 percent of sales through residential real estate.

ReeceNichols currently has 2,400 independently contracted real estate agents and 190 support staff, compared with CJR’s 255 agents and 20 back-office employees. For ReeceNichols, the merger adds CJR’s nine offices in southern Missouri to its list of 20 corporate locations and nearly 30 franchise operations.

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