Virtual Properties Realty

What Virtual Properties Realty does

Virtual Properties Realty is a residential real estate brokerage founded in 1999 in Georgia and headquartered in the state, operating 14+ offices across Georgia with a network of 5,000+ agents. It is described as the largest privately owned real estate company in Georgia, ranked #2 in buyer-side real estate sales in the state and #48 of 500 nationally on the RealTrends 500 (2020). The company sells or transacts more than 12,000 properties annually, representing $4.4 billion in sales volume (GTV) between January 2024 and January 2025, with 750+ closings per month.

The firm's core products are organized around specialized divisions covering traditional residential resale (VPR Luxury, VPR Commercial), new construction builder partnerships, iBuying (iBuyershop), and alternative-financing transactions (Lease Purchase Depot). Supporting infrastructure includes Smart CRM, Smart Text messaging, and Virtual Tour photography capabilities (an early adopter since 1999), alongside Georgia Realty School, an in-house licensing and training pipeline. The firm also operates an Ambassador Program that provides referral-based residual income to agents.

Virtual Properties Realty generates revenue through commission splits on brokerage transactions and associated fees, emphasizing an agent-friendly economics model in which agents reportedly earn $15,000+ more annually than competitors. The business has been debt-free since inception. It is privately held and was founded by Karen Burks and Steve Wagner as a mother/son team. In 2020-2021 the company formed a strategic alliance with United Real Estate to extend its referral reach nationally and internationally.

Name

Virtual Properties Realty

Legal name

Virtual Properties Realty LLC

Website

https://virtualpropertiesrealty.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Virtual Properties Realty is a privately held Georgia-based residential real estate brokerage operating 14+ offices and 5,000+ agents, transacting $4.4B in volume and 12,000+ properties annually across residential, luxury, commercial, new construction, and iBuying divisions.

Ownership category

akta.pro rank

Headquarters

HQ city

Duluth

HQ country

United States

HQ region

North America

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Real Estate Commission Fees: VPR generates revenue through transaction fees from real estate commissions. Agents pay brokerage fees or splits for each transaction closed. The company emphasizes that agents come first in their compensation model, with no franchise or royalty fees deducted from agent commissions.
2. Agent Plan Fees and Splits: Revenue from agent membership plans where agents receive commission splits. The company claims agents can earn an extra $15,000+ per year compared to national franchises due to favorable split structures.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Virtual Properties Realty (VPR) is a Georgia-based residential and commercial real estate brokerage operating through a network of 5,000+ affiliated agents across 14+ offices. The firm delivers full-service real estate representation for buyers and sellers, complemented by specialty divisions covering luxury homes, commercial properties, new construction, lease-purchase, and iBuyer/cash-offer transactions. It also operates an in-house real estate school and an agent referral/residual-income program.

Product overview

Virtual Properties Realty operates as a single, full-service real estate brokerage platform with multiple specialized divisions and branded offerings. The core brokerage is complemented by division sub-brands: VPR Luxury (luxury residential), VPR Commercial (commercial/land transactions), the New Construction Division (new build buyer/developer services), The iBuyershop (instant-purchase platform), and Lease Purchase Depot (lease-to-own). Supporting service offerings include Georgia Realty School (in-house licensing education), the Ambassador Program (agent residual income/recruiting incentive), and VPR Central (agent-facing portal with CRM and transaction tools). A dedicated New Homes & Developments listings portfolio markets builder and developer communities across Georgia. The company also provides buyer and seller educational resources, a mentoring program, and financing guidance, all tied together under a unified broker support structure.

Differentiator

Problem solved

Functional benefit

Brands

• VPR Luxury: Luxury real estate services division
• VPR Commercial
• New Construction
• The iBuyershop
• Lease Purchase Depot
• Georgia Realty School

Quantifiable outcome

• $4.4 Billion in sales volume between 01/01/2024 and 01/01/2025 from 12,000+ properties
• +4 more outcomes

Named customers4 records

Segments8 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered flagship, minor and core.

• United Real EstateflagshipStrategic or Co-development Partner · 1 January 2020VPR formed an alliance with United Real Estate (based in Dallas, Texas and Kansas City, Missouri) in 2020. This is a strategic partnership that provides VPR with international status (4 continents, offices in almost every state), financial security, expansion capabilities, product upgrades, and new tools/technology. VPR maintains its brand name, leadership, staff, offices, vision, splits, fees, and culture while gaining access to United Real Estate's resources and network.
• O'Kelley & SorohanminorOthersTitle company partner listed as a Premiere Service Provider for VPR agents and clients.
• Wessels & GerberminorOthersPartner listed as a Premiere Service Provider for VPR agents and clients.
• Z Team Home LoansminorOthersMortgage lender partner listed as a Premiere Service Provider for VPR agents and clients.
• Guild Mortgage (Academy Southeast)minorOthersMortgage lender partner listed as a Premiere Service Provider for VPR agents and clients.
• Georgia Land CommercialcoreTechnology or IntegrationVPR Commercial division partner providing commercial real estate services. Links to georgialandcommercial.com from VPR Commercial page.
• Shree Real Estate DeveloperscoreStrategic or Co-development PartnerDeveloper partner for Sydney Oaks mixed-use development project in Forsyth County. Shree designs and develops the residential, commercial, and recreational spaces in this community.
• ARCK DeveloperscoreStrategic or Co-development PartnerDeveloper partner for Sydney Oaks project. ARCK specializes in residential, commercial, and mixed-use projects in Georgia.
• Bercher HomescoreStrategic or Co-development PartnerHomebuilder partner for Malone's Pond gated community in Ball Ground. Bercher Homes is renowned for crafting high-quality, bespoke homes combining modern aesthetics with enduring craftsmanship.
• Southern Gentry HomescoreStrategic or Co-development PartnerBuilder partner for Shiloh Preserve luxury custom home community in Cumming, GA. Southern Gentry Homes is an elite Atlanta-based homebuilder known for fully customized, one-of-a-kind homes.
• A&R CommunitiescoreStrategic or Co-development PartnerBuilder partner for Enclave at Magnolia Station townhome community. A&R Communities is a family-owned and operated company that has been building homes since 1997.
• Workplace DynamicsminorOthersSurvey company hired by Atlanta Journal-Constitution to conduct annual workplace surveys for Best Place to Work awards.

Scale indicators14 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• RE/MAX: Global residential real estate franchise network. VPR's founders came from RE/MAX and VPR positions itself as an alternative to RE/MAX's franchise model with better commission splits; directly comparable as a residential brokerage competitor.
• Keller Williams Realty: Largest real estate franchise by agent count in the US. VPR's CFO previously worked at Keller Williams and VPR competes head-to-head for agent recruitment with its superior splits and Ambassador Program; both operate agent-centric brokerage models.
• Coldwell Banker: Legacy national residential brokerage with strong brand recognition. Operates a similar franchise model with comparable residential focus, agent recruitment, and commission split structure; competes in Georgia for the same agent pool.
• Century 21 Real Estate: Global residential real estate franchise with significant Georgia presence. Comparable business model focusing on agent recruitment, residential brokerage, and commission-based revenue; competes directly with VPR for buyers and sellers.
• Berkshire Hathaway HomeServices: National residential brokerage franchise leveraging the Berkshire Hathaway brand. Competes in the same agent recruitment and residential transaction space, particularly in luxury markets where VPR Luxury also operates.
• Better Homes and Gardens Real Estate: National residential brokerage franchise with comparable agent-centric model. Operates in Georgia and competes for the same agent recruitment pool and residential transaction volume.
• Sotheby's International Realty: Luxury-focused residential brokerage network. Directly comparable to VPR Luxury in serving high-net-worth buyers and sellers of luxury properties in Georgia's premium markets like Buckhead and Alpharetta.

Direct peers

• Compass: Tech-forward residential brokerage aggressively expanding in the Southeast. Competes for the same agent talent and luxury segment (overlapping with VPR Luxury) but with significantly more venture funding and proprietary technology.
• eXp Realty: Cloud-based residential brokerage with aggressive agent recruitment and equity participation model. Directly comparable as a technology-enabled brokerage competing for agents; eXp's revenue share and stock incentives challenge VPR's Ambassador Program economics.
• United Real Estate: VPR's strategic alliance partner and parent entity. Operates a comparable commission-focused brokerage model with 100% commission options and similar agent economics; VPR is part of the United family while maintaining its brand.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/vprealty
• Facebookfacebook.com/virtualproperties
• LinkedInlinkedin.com/company/virtual-properties-realty

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Virtual Properties Realty