JMG, founded by Jason Mitchell, has successfully acquired iRealty, establishing a foothold in the Arkansas market. The leadership team at iRealty, Kristen Kennon and Jon Kennon, will continue in their current positions, ensuring a seamless transition and stability within the organization.

Strategic Partnership Benefits

This acquisition marks one of six that JMG has conducted over the last three months. The collaboration is particularly advantageous as JMG did not previously operate in Arkansas, enabling them to leverage the capabilities of quality agents at iRealty.

“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,” said Mitchell, highlighting the mutual benefits of the transaction.

Legal Matters and Recent Developments

Notably, this acquisition follows the recent dismissal of a lawsuit by the Consumer Financial Protection Bureau (CFPB) against JMG, Rocket Homes, and other parties. The lawsuit alleged involvement in a “kickback” scheme, which all involved parties have denied.

After the case was dropped, Mitchell expressed relief, stating, “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.’”