Dayton Business Journal: Realty group claims Dayton's youngest fastest-growing company

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Dayton’s youngest fastest-growing company is tech-savvy brokerage Glasshouse Realty Group.

The company was formed six years ago. Partner Kunal Patel shares his thoughts on the uphill growth and where the firm is headed, along with Kari Abitbol, vice president of communications at Glasshouse.

What does it mean to you to be one of the region’s fastest-growing companies?

“To realize this level of growth as a brokerage – being only in our sixth year of business – is nothing short of remarkable. Our co-founders, Evan Kloth and Mo Zahedi, have always been passionate about promoting homeownership and giving back to the greater Dayton area," Abitbol said.

“This recognition is not only about the success we’ve seen as a brokerage, but also about the impact we’ve made in helping our clients find homes they love in communities they take pride in. If you talk to our clients, agents or business partners, they will tell you that there’s a contagious energy at Glasshouse. That energy is as genuine as it is purposeful in building an inclusive, thriving community. Our community ties are what made us – and what will continue to fuel our future growth," Patel said.

What do you attribute your consistent, significant growth to?

“In addition to sound strategic planning and forecasting, we credit so much of our growth to the culture we’ve built for our agents and the resources we provide to make them as successful as possible. We’ve created a culture that’s increasingly attractive to the area’s top performing agents. Those agents, knowing they’re fully supported at every stage, are then extremely motivated to serve their clients," Patel said.

“A common theme we see in our client testimonials is that our agents treat them like family and make what would be an otherwise overwhelming experience so much more enjoyable. That’s intentional and it’s something we take great pride in," Abitbol said.

Glasshouse Realty Group

Average percentage growth 2020-2023: 11%

Revenue 2023: $5.94 million

Agents: 157

Headquarters: 201 E. Sixth St. in Dayton

Founded: 2019

How have you managed to continue growing among fluctuating market conditions?

“One thing is for certain in real estate: change is inevitable, and sometimes it’s abrupt. It comes down to staying well ahead of trends in the housing market and having the right tools and technology to be prepared for those changes. As an independent brokerage, we’re nimble by design – which helps us plan and prepare for market shifts instead of reacting to changes once they’re already underway," Patel said.

“We also have strong partnerships with lending, title and other service providers that are committed to making every real estate transaction as streamlined as possible for our clients, despite the nuances and complexities that can arise in a unique market cycle. Our partners understand how Glasshouse conducts business, and vice versa – and the end result is that our agents are supported and our clients are informed throughout each purchase and sale," Patel said.

Do you have plans for expansion over the next year or two?

“We’re currently licensed in Ohio and Kentucky and will expand our license to Florida and Indiana by the end of this year. We’ll also formally open two new offices this fall, starting with a new location in Beavercreek followed by a newly renovated space in Huber Heights," Abitbol said.

Earlier this summer, Glasshouse launched its commercial real estate division, anticipating it will net roughly $35-50 million in new sales volume by the end of 2025.

In 2024, Glasshouse welcomed more than 70 new agents. As their coverage area continues to grow, Glasshouse sees the potential for additional physical offices.

Is there anything that has altered the way you run your company in the last few years?

“Post-pandemic, we’ve continued to see more and more virtual showings that necessitate 3D tools and other interactive ways to engage with listings. The same is true with virtual meetings between clients, agents and everyone involved across the transaction. Also, electronic notary platforms have allowed us to meet closing deadlines much faster than we could’ve previously," Abitbol said.

What is the number one issue plaguing your industry right now?

“The nationwide housing shortage has been very challenging… As interest rates cool and more inventory becomes available, we expect to see competition increase as renters become first-time buyers or reenter the market. Buyers will likely face even higher housing prices as a result, coupled with the fact that there’s always been inflation-driven increases in housing prices over time. This is why it’s ill advised to wait for the interest rate to hit a certain level before purchasing a home. As we say to our clients, marry the house — and date the interest rate," Patel said.

What does the region need to do better to support future growth?

“The revitalization we’ve experienced across the region is in large part thanks to ongoing interest and commitment to build more residential options and mixed-use spaces like the Dayton Arcade. The more we continue to invest in housing inventory, the more we’ll see in terms of economic growth and long-term vitality," Abitbol said.

“The other key piece to unlock long-term growth lies in attracting businesses to open and expand throughout our urban areas. Downtown Dayton already has a very vibrant scene of small businesses that cater to dining, entertainment and more. Any metropolitan area needs the foot traffic that comes with a strong corporate presence to support the continued growth of its small businesses and residential communities," Abitbol said.