Global real estate brokerage Engel & Völkers is expanding into the Northwest Arkansas market.
Midtown Associates is now doing business as Engel & Völkers Northwest Arkansas. Michelle Dearing founded the business in 2016 with an office on South Main Street in downtown Bentonville. The company has since added a second office on West Johnson Avenue in downtown Springdale and has grown to 11 agents.
Dearing will lead the local franchise as principal broker. Ace Rouse is the executive broker. Financial terms of the deal were not disclosed in a news release.
Dearing said as the region continues to grow and attract residents from around the world, she decided the time was right to partner with a global brand and raise the client experience for buyers and sellers in Northwest Arkansas.
“Real estate is more than just selling property, it’s about connecting clients to the community,” Dearing said in a statement. “Bringing Engel & Völkers to our market, along with the tools, marketing materials and global recognition that the brand offers will boost our capabilities to do this even more effectively.
“The presence of Engel & Völkers in Northwest Arkansas will elevate the area’s entire real estate market; clients here deserve the highest level of service, excellence and luxury on a global scale, and Engel & Völkers is uniquely qualified to deliver this.”
Founded in 1977 and with about 800 offices in more than 30 countries on four continents, Germany-based Engel & Völkers is home to about 11,000 employees. It specializes in the brokerage of residential property (often high end), commercial real estate, yachts and aircraft.
Engel & Völkers operates approximately 195 shop locations with more than 3,700 real estate advisors in the Americas.
“As a global brand, it makes sense for us to have a presence in such a thriving and diverse metropolis,” Anthony Hitt, president and CEO of Engel & Völkers Americas, said in a statement. “Michelle’s impressive track record of success along with her infectious enthusiasm for the Northwest Arkansas community, as well as a passion for client service, made it clear that she is the ideal leader for our growth here.”
Engel & Völkers established its first Arkansas office in Little Rock last year under the leadership of John and Jena Selva, who franchised their brokerage, Pulaski Heights Realty.