Oldfather Companies Report Record Growth in 2021; More Expected in 2022
The Oldfather Companies is pleased to have recently announced better than expected results and earnings for the 2021 calendar year.
Even in the midst of the continuing COVID-19 pandemic, the core group of three real-estate related businesses, which includes a real estate brokerage, a mortgage arm and an insurance company, recorded the best 12 months of its existence in the calendar year that ended on December 31.
Headquartered in Rehoboth Beach, but serving all of Delaware, the eastern shore of Maryland, the state capital region of Annapolis and southeastern Pennsylvania, the Oldfather Companies is led by the real estate firm that’s been a staple at the Delaware beaches since 2004.
“2021 was an amazing year for our clients and our team in really our entire coverage area from the Atlantic to the Chesapeake,” said Oldfather Companies Chief Executive Dustin Oldfather. “But we’re even more excited for what’s to come in 2022 as we continue to grow the businesses we love, while also working with the people we love and for the people we love.”
The Oldfather Group, the core real estate business with main offices on Route 1 in Lewes, recorded another banner year for 2021. By year’s end, the group of 41 Realtors and support staff were responsible for 338 home sales and a total sales volume of more than $130 million.
This brings the cumulative figures since the company’s founding to 2,606 homes and more than $1 billion.
The biggest change in 2021 was the move of the Oldfather Group to Compass RE, a technology driven nationwide network of real estate agents. The founding in the first quarter of the year marked the first foray of Compass into the Delaware marketplace.
Other highlights of the year included another addition on the Real Trends/Tom Ferry America’s Best Real Estate Professionals list for the United States, the launching of a new scholarship program for prospective real estate agents and an expanded coverage area for real estate sales and real estate related services.
The newer arms of the Oldfather Companies in southern Delaware include Motto Mortgage Prosperity and We Insure Prosperity, both headquartered in Milton and serving the same coverage area that the more established real estate company does.
Founded as companion companies that give home buyers a personalized and all-inclusive experience, both businesses also recorded best ever numbers for 2021.
By December 31, Motto Mortgage had closed 154 loans for $43 million in volume, while We Insure had written 151 new policies.
Both companies continue to grow in size and scope and have goals of improving on those numbers further in 2022.
The Oldfather Group was founded in 2004 and specializes in real estate sales throughout coastal Delaware including Lewes, Rehoboth Beach, Dewey Beach, Bethany Beach and Fenwick Island; and now northern New Castle County; as well as the coastal Maryland towns of Ocean City and Berlin, the capital city of Annapolis and portions of southeastern Pennsylvania.