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La Rosa Holdings Corp. (NASDAQ: LRHC) ("La Rosa" or the "Company"), a holding company for five agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has acquired a 51% interest in the Company's franchisee - La Rosa Realty Orlando, LLC ("Realty Orlando") located in Orlando, Florida.
Realty Orlando generated revenue of $3.6 million and had positive net income in 2022. The franchisee provides residential and commercial real estate brokerage services. It also provides coaching and support services to agents on a fee basis.
Joe La Rosa, CEO of the Company, commented, "We are excited to close on this acquisition. Even though we are currently in a down market, Realty Orlando was able to achieve approximately a 14% increase in total transactions closed for 2023 compared to 2022. We believe this is due to our unique brokerage model, which offers real estate agents the option of a revenue share model or an annual fee-based model with 100% agent commissions, which, in our view, is second to none in the industry. We are executing towards our goal of reaching an annualized revenue run rate of $100 million before the end of 2024, and have several more franchisees in the pipeline that we plan on acquiring over the next several months."
Posted In: LRHC
