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wo of Chicago's largest independent real estate firms, Dream Town and Baird & Warner, are merging operations to create the region's second-largest brokerage by 2024 sales volume. The combined entity will have nearly 3,000 agents, loan officers, and staff across 30 offices in the city and suburbs.

    The acquisition will allow Dream Town agents to access advanced technology, including AI, while maintaining their independence and local ownership. "Every major brokerage is now run by Wall Street or a hedge fund," said Dream Town CEO Yuval Degani. The merger will create a more competitive, locally committed alternative for agents.

    Baird & Warner's brand will remain intact, with Degani joining the company as president of brokerage services. Dream Town agents will also gain access to Baird & Warner's other businesses, including Key Mortgage and Title Services.

    The move follows a trend of consolidation in the real estate industry, driven by the demand for advanced technology and changing market conditions. Recent litigation has led to increased transparency in commissions, with the National Association of Realtors agreeing to pay out $418 million and make commission practices more transparent.

    Industry experts predict further consolidation as smaller firms struggle to keep up with technological advancements and shifting agent needs. "Being small is almost impossible today," said @properties co-founder Mike Golden.