By David Rogers. September 10, 2019. BLOWING ROCK, NC – Almost 170 years ago, Indiana newspaper editor Horace Greeley urged readers to take advantage of opportunities in the frontier lands of America with the phrase, “Go West, young man…” Fast forward, and North Carolina’s largest real estate firm is heeding the call – beginning with Blowing Rock.
All photographic images by David Rogers for Blowing Rock News
Charlotte-based Allen Tate Realtors announced on Tuesday the firm’s acquisition of Blowing Rock Investment Properties (BRIP), a heretofore independent, mostly residential real estate brokerage firm serving Blowing Rock, Boone, and the surrounding High Country region. Terms were not disclosed, except that the Blowing Rock office will be wholly owned and operated by Allen Tate.
A team of senior Allen Tate executives led by Pat Riley, President and Chief Executive Officer of Allen Tate Companies joined Scott Macintosh, president and broker-in-charge of BRIP in disclosing the news to more than 20 of the Blowing Rock firm’s agents and staff members
Before introducing Riley and revealing the decision to join forces with Allen Tate during a reception hosted at Blowing Rock Country Club Tuesday afternoon, Macintosh set the stage by explaining to his team members the changes in the real estate industry that have created new challenges, as well as new opportunities, including a description of some of the macro trends impacting the industry. By the time Macintosh brought Riley into the room, the new head “coach” of the Blowing Rock team might as well have been a rock star. He was greeted with a standing ovation.
We are a feeder firm.
“We have created a culture that is appealing,” Riley explained to Blowing Rock News when asked about the enthusiastic reception from BRIP’s professionals, “and a business model that supports our team members and helps them be successful. And they are successful because they are coaching their sellers and buyers into making good decisions about their home ownership.”
Allen Tate is a 62-year-old company operating a total of 46 local offices in now six major regions of the Carolinas and is part of a network of 550 brokerage firms around the world, in 70 different countries. Arguably the Carolinas’ leading real estate company, Allen Tate closed 21,190 transactions in 2018, representing $5.75 billion in closed sales volume, according to data provided by the company to Blowing Rock News.
Blowing Rock Investment Properties was established in 2005 to serve the market for vacation homes, retirement properties, primary residences, commercial properties, and investment properties. At the time of the acquisition, BRIP has more than 20 experienced realtors serving clients in Blowing Rock, Boone, West Jefferson, Banner Elk, Linville, Beech Mountain, Sugar Mountain and Lenoir, among others. In 2018, BRIP closed 237 transactions totaling $74 million in closed sales volume, according to information provided by the company.
Riley, who is a frequent visitor to Blowing Rock all year ’round, is passionate about the opportunities he sees in the High Country, as well as other parts of the Western North Carolina mountain regions.
“The High Country marketplace has always been a natural fit for the Allen Tate Family of Companies,” the Allen Tate Companies CEO observed for Blowing Rock News. “For many years, we’ve been watching Blowing Rock Investment Properties grow in the right way, and we’re very excited to welcome the company and its team of real estate professionals to Allen Tate Realtors. We will bring the tools and resources to distinguish their agents and expose their clients’ unique listings to the local, regional, national and investment marketplaces.
“We are a feeder firm,” Riley said. “We may have a local listing, but we feed exposure to potential buyers of the opportunity that listing represents through many different channels, including nationally and internationally.”
In 2018, more than 21,000 transactions closed, representing $5.75 billion in closed dollar volume.
Blowing Rock News was invited to sit in on the Allen Tate executive team’s introduction of the company to the BRIP sales professionals. With its vertical integration of business units all aimed at homeownership, the firm and its sales professionals, as well as their customers may enjoy some advantages. In addition to Allen Tate Realtors, Allen Tate Companies also is comprised of Allen Tate Mortgage, Allen Tate Insurance, Allen Tate Relocation, Master Title Agency, and BSI (Builders Services).
Asked about his decision to navigate being acquired by Allen Tate, Macintosh said, “We are in Blowing Rock and that is a big part of our business, but we also serve the markets of Banner Elk, Boone, Linville and Linville Ridge, Ashe County, and so much of the rest of the High Country. I have admired Allen Tate Realtors for years and envisioned what could happen if we brought the best of our two companies together. Well, here we are. The timing is right. The opportunity is right. We are pleased to now be a part of the Allen Tate organization.
“We owe our past success,” Macintosh continued, “to our incredible agents who weathered the recession, took great care of our clients, and brought us to this point (in our business development). I am also extremely grateful for the professional relationships I have had with Pat Riley and Allen Tate over the years. They introduced me to the Leading Real Estate Companies of the World network and laid a path for me to follow to achieve my goals and objectives.”
Macintosh currently serves on the MLS board of directors for the High Country Association of Realtors. The firm or members of the BRIP team actively support community organizations, including Watauga Humane Society, Appalachian State University, and the High Country Breast Cancer Foundation, among others.
For Allen Tate, Riley explained to BRN, Blowing Rock is just the beginning of the firm’s westward expansion.
“For various reasons, from cultural, to climate, and geographic features, people are moving to North Carolina,” said Riley. “The demographic trends facilitated by today’s technology have especially included the luxury destinations in the mountains of Western North Carolina. Whether a town, city or village wants to remain quaint and seasonal or reinvent itself as a vibrant, year-round resort destination, our mission is to help home and property owners maximize their investment opportunities. If selling, we want to help them realize the best possible return and valuation. If buying, we want to coach our clients in making the right decision in the purchase of their home. Our marketing tagline says it all: ‘We are home.’”
The newest Allen Tate office, formerly Blowing Rock Investment Properties, is located at 6236 Highway 321 South in Blowing Rock.