Merger in Works for iRealty Arkansas

Here’s another deal we’re watching: iRealty Arkansas is working on some kind of plan to absorb Adkins McNeill Smith & Associates.

Doug Smith, a partner in Adkins McNeill Smith & Associates, confirmed last week that “we are working on a merger,” but the details had not been finalized.

Which is curious, since iRealty’s website already lists 11621 Rainwood Road — Adkins McNeill Smith’s longtime location — as its Little Rock address.

Anyway, iRealty is led by Kristen Kennon, who didn’t return a call last week. Her agency also has offices in Sherwood, Benton and Cabot. It reported sales volume of $111.2 million in 2017, placing 17th on Arkansas Business’ annual list of the largest residential agencies in the state. It first appeared in our research in 2014 with $44.3 million.

Adkins McNeill Smith, meanwhile, was No. 23 on our list with sales volume of $87.1 million last year, well off its heyday of $195 million in 2005.