JMG Acquires iRealty, Continues Expansion
In a recent announcement, JMG founder Jason Mitchell confirmed that iRealty’s leadership, Kristen Kennon and Jon Kennon, will retain their roles within the company. JMG will provide corporate support to iRealty and grant access to its referral partner channels.
This acquisition marks one of six successful mergers or acquisitions that JMG has completed in the past three months, demonstrating the company’s commitment to growth and expansion.
Jason Mitchell expressed his excitement about the deal, stating, “[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. We bring this group on that has agents that qualify to receive our referrals and expand our referral network from our partnerships, providing more value to the iRealty brokerage brand.”
Notably, this acquisition comes on the heels of the Consumer Financial Protection Bureau (CFPB) dropping a lawsuit against JMG, Rocket Homes, and other defendants. The lawsuit alleged the parties were involved in a “kickback” scheme, which they vehemently denied.
Reflecting on the ordeal, Mitchell shared, “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.'”