{"id":63611,"date":"2026-07-22T03:00:22","date_gmt":"2026-07-22T01:00:22","guid":{"rendered":"https:\/\/housesmarketplace.com\/the-jmg-acquisition-gives-teams-leverage-but-not-equal-valuations\/"},"modified":"2026-07-22T03:00:22","modified_gmt":"2026-07-22T01:00:22","slug":"the-jmg-acquisition-gives-teams-leverage-but-not-equal-valuations","status":"publish","type":"post","link":"https:\/\/housesmarketplace.com\/ru\/the-jmg-acquisition-gives-teams-leverage-but-not-equal-valuations\/","title":{"rendered":"The JMG acquisition gives teams leverage, but not equal valuations"},"content":{"rendered":"
\n

\u041a\u043e\u0433\u0434\u0430 \u041a\u0435\u043b\u043b\u0435\u0440 \u0423\u0438\u043b\u044c\u044f\u043c\u0441<\/strong> \u043e\u0431\u044a\u044f\u0432\u0438\u043b\u0430 \u043e \u0441\u0432\u043e\u0435\u043c \u043f\u0440\u0438\u043e\u0431\u0440\u0435\u0442\u0435\u043d\u0438\u0435<\/a> \u043f\u0440\u0438\u043d\u0430\u0434\u043b\u0435\u0436\u0430\u0449\u0438\u0439 \u0413\u0440\u0443\u043f\u043f\u0430 \u0414\u0436\u0435\u0439\u0441\u043e\u043d\u0430 \u041c\u0438\u0442\u0447\u0435\u043b\u043b\u0430 <\/strong>(JMG) earlier this month, Steve Murray, the co-founder of RealTrends \u041a\u043e\u043d\u0441\u0430\u043b\u0442\u0438\u043d\u0433<\/strong>, felt it was an historical moment<\/a> for real estate companies with models similar to JMG, such as Mark Spain Real Estate<\/strong><\/a>,<\/strong> \u041c\u0415\u0421\u0422\u041e <\/strong>\u0438\u043b\u0438 Robert Slack Group<\/strong>.\u00a0<\/p>\n

\u201cThe acquisition of Jason Mitchell Group means that a very large, very smart investor has just put a stamp of approval on that kind of a business model,\u201d Murray said. \u201cThis is the first acquisition of this kind and this size.\u201d\u00a0<\/p>\n

However, Murray warned that this news does not mean that every large team or brokerage operating on a team model is worth the same or can generate the same multiple that JMG did.\u00a0<\/p>\n

Craig McClelland<\/a>, a partner at McClelland & Hahn Consulting<\/strong>, agrees, noting that this has to do with the fact that JMG isn\u2019t just any real estate company.\u00a0\u00a0<\/p>\n

\u201cKeller Williams didn\u2019t just acquire JMG, they also acquired a relocation network and a lead distribution network, as well as relationships with \u0420\u0430\u043a\u0435\u0442\u0430 <\/strong>\u0438 \u0417\u0438\u043b\u043b\u043e\u0443<\/strong>. Your typical team doesn\u2019t have that component to it,\u201d McClelland said. \u201cYou can\u2019t just be like, \u2018I have a team of 30 agents and a Zillow Flex agreement and now I\u2019m worth $100 million\u2019 \u2014 that isn\u2019t going to happen. There are other dynamics you have to add into this equation.\u201d\u00a0<\/p>\n

Everything old is new again<\/h2>\n

Additionally, while this news certainly sparked some headlines in the industry, McClelland doesn\u2019t feel it is all that different from what Cendant<\/strong>, the predecessor of \u0420\u0435\u0430\u043b\u043e\u0433\u0438\u044f<\/strong><\/a>, the firm that became Anywhere Real Estate, <\/strong><\/a>previously did with its franchise agreements.\u00a0<\/p>\n

\u201cThey would sell franchises to independent operators and provide them with the opportunity to be part of their lead network,\u201d McClelland said. \u201cSo, they have access to a lead source as well as other opportunities to grow their business, but eventually if they wanted to exit, they had the opportunity to sell the franchise to Cendant. This is kind of the same thing, but with teams instead of franchises.\u201d\u00a0<\/p>\n

What am I worth?\u00a0<\/h2>\n

When it comes to valuing a team, something Murray and his business partner Scott Wright\u00a0have done several times over the years, Murray said it doesn\u2019t differ too much from how they value brokerages.\u00a0<\/p>\n

\u201cIt is based on cash flow and EBITDA and then you look at a multiple, and today, brokerage companies are in a fairly narrow band of multiples,\u201d Murray said. \u201cIn the past, when big companies like \u0411\u0435\u0440\u043a\u0448\u0438\u0440 \u0425\u044d\u0442\u044d\u0443\u044d\u0439<\/strong> were chasing after independent brokers and competing for them, multiples could push to five or six, but today, a big firm that\u2019s out there is going to trade at a five, at best.\u201d\u00a0<\/p>\n

With teams; however, Murray said they need to examine how much of the business comes directly from the team leader\u2019s sphere of influence.<\/p>\n

\u201cWe heavily discount that business because the ability to transfer essentially personal relationships is very low,\u201d he said. \u201cInstead we look at how much of their business is what we call business generated \u2014 online leads, direct mail, billboards, phone calls, public marketing.\u201d\u00a0<\/p>\n

The next JMG?<\/h2>\n

For teams or firms looking to find themselves in a similar position to JMG sometime in the future, Murray said they will need to consider \u201cscaling up.\u201d\u00a0<\/p>\n

\u201cNow you may begin to see some of those teams that are doing well and generating significant cash flows, try to do their own mergers and acquisitions with other teams of their size,\u201d he said. \u201cOverall, I think what we will see happen is other teams start rethinking whether they should just be buyers or if they should be positioning themselves to sell.\u201d\u00a0<\/p>\n

McClelland added that it is important for the companies to make sure they are running a good business.\u00a0<\/p>\n

\u201cIf you have good margins, you don\u2019t have excessive overhead, good producing agents that are a resource to the company, then you will be more attractive,\u201d he said.\u00a0<\/p>\n

While both McClelland and Murray believe we may never see another acquisition like Keller Williams\u2019 acquisition of JMG unless another similar company arises, they do feel this does signify a shift of sorts.<\/p>\n

\u201cTeams now have a seat at the deal table, and they are saying \u2018Hey, I\u2019m an intelligent acquisition,\u2019\u201d McClelland said.\u00a0<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

When Keller Williams announced its acquisition of the Jason Mitchell Group (JMG) earlier this month, Steve Murray, the co-founder of RealTrends Consulting, felt it was an historical moment for real estate companies with models similar to JMG, such as Mark Spain Real Estate, PLACE or Robert Slack Group.\u00a0 \u201cThe acquisition of Jason Mitchell Group means […]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-63611","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nThe JMG acquisition gives teams leverage, but not equal valuations - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.com\/ru\/the-jmg-acquisition-gives-teams-leverage-but-not-equal-valuations\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The JMG acquisition gives teams leverage, but not equal valuations\" \/>\n<meta property=\"og:description\" content=\"When Keller Williams announced its acquisition of the Jason Mitchell Group (JMG) earlier this month, Steve Murray, the co-founder of RealTrends Consulting, felt it was an historical moment for real estate companies with models similar to JMG, such as Mark Spain Real Estate, PLACE or Robert Slack Group.\u00a0 \u201cThe acquisition of Jason Mitchell Group means […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/housesmarketplace.com\/ru\/the-jmg-acquisition-gives-teams-leverage-but-not-equal-valuations\/\" \/>\n<meta property=\"og:site_name\" content=\"Houses Marketplace\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-22T01:00:22+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u041d\u0430\u043f\u0438\u0441\u0430\u043d\u043e \u0430\u0432\u0442\u043e\u0440\u043e\u043c\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u041f\u0440\u0438\u043c\u0435\u0440\u043d\u043e\u0435 \u0432\u0440\u0435\u043c\u044f \u0434\u043b\u044f \u0447\u0442\u0435\u043d\u0438\u044f\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 \u043c\u0438\u043d\u0443\u0442\u044b\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/housesmarketplace.com\/#website\",\"url\":\"https:\/\/housesmarketplace.com\/\",\"name\":\"Houses Marketplace\",\"description\":\"International Real Estate\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/housesmarketplace.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"ru-RU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/housesmarketplace.com\/the-jmg-acquisition-gives-teams-leverage-but-not-equal-valuations\/#webpage\",\"url\":\"https:\/\/housesmarketplace.com\/the-jmg-acquisition-gives-teams-leverage-but-not-equal-valuations\/\",\"name\":\"The JMG acquisition gives teams leverage, but not equal valuations - 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