Dayton Business Journal: Fast-growing Dayton brokerage to embark on new expansions across region

A Dayton-based, tech-savvy brokerage plans to further propel its growth with planned regional expansions.

Starting off with a team of 11 in one office, Glasshouse Realty Group has grown to a team of 182 argents across 11 locations. Kari Abitbol, vice president of communications and marketing for Glasshouse, said the brokerage’s goal since its inception in 2019 has been to expand its footprint throughout Southwest Ohio and beyond.

“That fast and steep growth is purely organic,” Abitbol said. “We’ve created a culture that’s increasingly attractive to the area’s top producing agents who are extremely motivated to serve their clients… As business grows, so too has the need to expand our brick-and-mortar locations.”

Glasshouse Realty Group is preparing to unveil three new offices across the Dayton region in the next year, following the opening of one newer location:

• Wilmington: The soon-to-open location is a 1,500-square-foot leased space within the iconic, historic Coca-Cola building at 117 N. South St., Suite A. The new site is slated for opening on Tuesday, July 2. The location currently houses four agents, with plans to hire more.
• Huber Heights: Glasshouse is leasing a 2,000-square-foot location at 7371 Brandt Pike, Suite B, currently undergoing renovation. Doors are expected to open later this summer. Five agents will be hired for the location.
• Sidney: The new 1,200-plus-square-foot location at 219 N. Ohio Ave. has yet to be built. Glasshouse currently occupies the front of an established business in Sidney with plans to begin construction on a larger space in the heart of downtown this fall. The location is expected to be completed in spring or summer 2025. Eight agents will be hired for the location.
• Piqua: Glasshouse owns the downtown Piqua space at 124 N. Main St., which was gutted and rebuilt over the past two years. The previously vacant building now houses five other businesses and expects to welcome two more by the end of summer. The realtor occupied 3,500 square feet within the 9,000-square-foot building, in April. The location houses 10 independent agents.

“Nearly all of our 10 offices are located in or very close to historic downtown areas, which is not by chance,” Abitbol said. “Many Glasshouse agents are native Daytonians and Ohioans who value the rich history in these areas.”

Additional details on upcoming open house events at the four new locations are soon to come.

Glasshouse Realty Group

Revenue 2023: $5.9 million (11.5% average growth from 2020)

Sales volume 2023: $210 million (3.4% increase from 2022’s $203 million)

Local real estate agents: 182

Headquarters: 201 E. Sixth St., in the Armory building in downtown Dayton’s Oregon District

Founded: 2019

Abitbol said the first two quarters of 2024 indicate Glasshouse is well on its way to surpassing its 2023 revenue of $5.9 million by end of year.

“Given the rapid growth in agent count, we expect 2025 will be our best revenue year yet,” Abitbol said.

The brokerage anticipates exceeding $300 million in sales volume by the end of 2024, a number that Abitbol said is “quickly approaching the production of other local brokerages that have been in business for decades”. 

Glasshouse’s strong trajectory shows no signs of slowing down as Abitbol said the team welcomed 50 new agents in the first half of 2024 alone. She said many of their agents come from national companies like Coldwell Banker and Keller Williams.

“[Agents] realize that they’re not missing out on anything by teaming with a locally owned brokerage,” Abitbol said. “In fact, they’re keeping more of the money they earned, enjoying more autonomy and building stronger relationships as a result. Because we’re an independent brokerage, we’re also better positioned to navigate the market and its curve balls.

Currently licensed in Ohio and Kentucky, Glasshouse is on track to expand its license to Florida and Indiana by the end of 2024. Abitbol said many of their agents like to work in other states, particularly with clients who spend some of the year in southern states like Florida. 

Glasshouse also recently became the only brokerage in the Dayton area to participate in an invitation-only brokerage lead platform from Zillow Premier Agent. Abitbol said leads from the program generated nearly $25 million in sales in 2023 alone and has already generated $22 million in year-to-date sales. 

“We expect it will continue as a strong source of growth the remainder of this year and beyond,” Abitbol said.