The Modglin Group

What The Modglin Group does

The Modglin Group, operating under the legal entity Real Estate Monkey, LLC, is an Indiana-based residential real estate brokerage founded in 2008 by Managing Broker Raymond Modglin. The firm operates a low-overhead, agent-friendly model in which independent licensed brokers close their own transactions, maintain listings in their own names, and pay the brokerage a flat $399 transaction fee per side. The company subsidizes agent operating costs by paying for E&O insurance and state-required continuing education delivered through REAL University, live classroom, and online courses, with a Director of New Agent Development (Kristian Lee) overseeing onboarding. Agents are organized around residential buyer and seller representation, with select specialty capabilities including a licensed home inspector, a rehab/renovation expert, and multilingual brokers serving diverse buyer and seller segments.

The firm is headquartered in Greenwood, Indiana, and its primary market is Indiana, supplemented by a Florida brokerage license enabling cross-state transactions via broker Darrell Powers. Technology infrastructure is intentionally lightweight, relying on standard industry tools such as Zipforms and Dotloop for contract management rather than a proprietary platform. GTM is sales-led, with customer acquisition driven primarily by website presence, agent networking, and referrals. Marketing is limited to a company website and a "Join Our Team" agent recruitment page.

Revenue is generated through two streams: the $399 per-side transaction fee charged to every agent transaction, and commission splits retained from agent-closed deals. The agent base has grown to 50+ licensed brokers serving residential home buyers and sellers as well as investor and fix-and-flip clientele. No external funding, acquisitions, partnerships, or technology investments are documented, and the firm operates as a privately held LLC under founder and management ownership.

Name

The Modglin Group

Legal name

Real Estate Monkey, LLC

Website

https://themodglingroup.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

The Modglin Group is an Indiana-based residential real estate brokerage operating since 2008, serving home buyers and sellers through 50+ independent agents on a low-cost $399 per-side transaction fee model, with company-paid E&O insurance and continuing education.

Ownership category

akta.pro rank

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Transaction Fees: Agents pay a $399 transaction fee per side of every deal they close. This is the primary revenue stream for the brokerage, in addition to commission splits from agent transactions.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

The Modglin Group is an Indiana-based residential real estate brokerage operating under the legal entity Real Estate Monkey, LLC. It provides home buying and selling services through a network of independent licensed agents who maintain listings in their own names and pay a flat $399 transaction fee per side to the brokerage. The firm emphasizes legal and ethical standards, covers agents' E&O insurance and state-required continuing education, and serves primary markets in Indiana with select Florida coverage.

Product overview

The Modglin Group is a single unified real estate brokerage offering residential property transaction services. The company operates as a brokerage model where independent real estate agents provide buying and selling services to clients under the TMG brand. The primary service offering is The Modglin Group Realty Services, which encompasses agent-supported property transactions, continuing education for agents, and brokerage support services including E&O insurance and transaction coordination.

Differentiator

Problem solved

Functional benefit

Products and services

• The Modglin Group Realty Services

Segments2 records

Ideal customer profiles2 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves4 records

Expansion highlights4 records

Direct peers

• eXp Realty: Cloud-based, low-fee independent-agent brokerage that recruits agents nationally with attractive commission structures. Directly comparable to TMG's low-fee, agent-friendly model and primary competitive threat for independent agent recruitment.
• HomeSmart: Large flat-fee/100%-commission brokerage with a national footprint and significant agent count. Comparable to TMG on the low-fee value proposition and independent contractor model.
• Fathom Realty: Flat-fee, agent-centric brokerage with a tech-enabled platform and rapidly growing agent count. Closely comparable to TMG on pricing model and target agent profile, with stronger technology infrastructure.

Broad incumbents

• Redfin: Tech-enabled residential brokerage and portal offering reduced-commission services to consumers. Comparable to TMG as a discount-leaning brokerage, though far larger and vertically integrated with technology the subject company lacks.
• Compass: Tech-forward national brokerage offering premium agent tools and lead-generation services. Comparable in targeting experienced independent agents, though differentiated by scale, capital, and proprietary technology platform.
• RE/MAX: Global franchise brokerage operating on a high-split, agent-ownership model with a strong Indiana presence. Represents the traditional competition TMG is positioning against on cost and commission structure.
• Keller Williams Realty: Largest U.S. brokerage by agent count with a profit-sharing model and strong Indiana presence. Represents the dominant traditional competition whose high-splits model TMG is undercutting.
• CENTURY 21: Large franchised residential brokerage with deep Indiana coverage through regional affiliates. Comparable as a traditional competing brokerage against which TMG's low-fee positioning is differentiated.
• Berkshire Hathaway HomeServices: National franchised brokerage affiliated with Berkshire Hathaway, active in Indiana. Comparable as a traditional commission-splits competitor recruiting from the same agent pool.

Regional players

• Howard Hanna Real Estate: Large privately held regional brokerage dominant in the Midwest and Mid-Atlantic. Comparable in private-company structure and Midwestern footprint, but operates a traditional commission-split model rather than TMG's flat-fee approach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/the-modglin-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 The Modglin Group