A Dubuque-based real estate company has come under new ownership.
Officials with The New Eagle Group announced their purchase of EXIT Realty Dubuque.
Dennis Buchheit, owner of The New Eagle Group, said the real estate portion of his company, New Eagle Realty, will be folded under the EXIT Realty name. Combined, the merged real estate companies will manage nearly 50 real estate agents.
“With both of us together, we are going to have a pretty dominant footprint in the area,” Buchheit said. “We are probably going to be about 25% of the market now.”
Jason Conrad, former owner of EXIT Realty Dubuque, founded the company in 2014. As part of the purchase, Conrad will be managing broker for EXIT Realty under the ownership of New Eagle.
Buchheit said an additional manager will be brought on to run the company with Conrad.
Conrad said he has been looking to continue growing the company since its expansion into Dyersville in 2015. In November, he began discussions with The New Eagle Group about a possible merger.
“We want to be able to take the company to the next level,” Conrad said. “This is a great opportunity for us to combine our resources.”
Conrad declined to comment on the purchase price for EXIT Realty.
Buchheit said the merger will allow real estate agents previously working under New Eagle Realty to use the training programs and technology of EXIT Realty.
“It’s going to allow us to improve our services to the community,” Buchheit said. “Our agents will be able to do a better job for our clients, and we’ll be able to do a better job for the community.”
The newly merged EXIT Realty will provide real estate services in Dubuque, Jackson, Delaware, Clayton and Jo Daviess counties.
Buchheit said officials plan to expand the company further. Along with contracting with additional real estate agents, the company also plans to expand its services into southwest Wisconsin.
“When you take such a big portion of the market like this, the potential is really unlimited,” Buchheit said. “I would expect our growth to be pretty dramatic.”