JMG founder Jason Mitchell said that the iRealty leadership of Kristen Kennon and Jon Kennon will remain in their roles. JMG will serve as corporate support in addition to giving iRealty access to its referral partner channels.
The deal is one of six acquisitions or mergers JMG has executed in the past three months.
“[JMG doesn’t] have a presence in Arkansas, so to be able to have coverage with good, quality agents is a nice win for both parties,” Mitchell said. “We bring this group on that has agents that qualify to receive our referrals and expand our referral network from our partnerships, and it provides more value to the iRealty brokerage brand.”
The deal comes two weeks after the Consumer Financial Protection Bureau (CFPB) dropped a lawsuit against JMG, Rocket Homes and other defendants that alleged the parties were engaging in a “kickback” scheme. The parties denied the allegations.
“I wanted this to be over with a long time ago, and when I had an opportunity to settle, which would have been the easy route, it was a weird situation to say no, ‘I am going to fight this and do the right thing,’” Mitchell told HousingWire after the dismissal.
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