Allie Beth Allman CEO Keith Conlon Brings Local Ownership Back to Brokerage With Equity Deal

Keith Conlon is no longer just running Dallas-based Allie Beth Allman & Associates — he now owns a piece of the rock.

The company announced Monday that its president and CEO has made an equity investment in the firm through an unprecedented partnership with HomeServices of America, the Berkshire Hathaway-affiliated company that acquired Allie Beth Allman & Associates in 2015. Financial terms of the equity investment were not disclosed.

The move not only formalizes Conlon’s long-term leadership role and gives him a financial stake in one of Dallas’ highest-volume luxury brokerages, while keeping the firm under the HomeServices umbrella.

Founded in 2003, Allie Beth Allman & Associates was acquired by HomeServices of America a decade ago. The Berkshire Hathaway affiliate owns several residential brokerages across the country, including Ebby Halliday Companies in North Texas.

According to Conlon, the move is unprecedented for Berkshire Hathaway. The 42-year-old executive who’s been with Allie Beth Allman & Associates since 2008 approached Berkshire Hathaway about selling back a piece of the company. Conlon’s vision, he told CandysDirt.com, is to reinforce the brokerage’s local roots at a crucial time when many firms are being absorbed into national platforms.

“I looked at this as a way to retain and recruit strong local agents now that there is so much change in the industry,” Conlon said. “Allie Beth Allman, our one office, did a billion dollars in sales in 2012 and four billion in 2025. We have the best brokerage in the local luxury space — why not lean into that?”

The investment comes as consolidation accelerates across the residential real estate industry, including Compass’ recent acquisition of Anywhere Real Estate, a move that created one of the largest brokerage conglomerates in the country.

Compass and Anywhere to Merge to Become Nation’s Largest Brokerage

But Conlon said his decision was driven largely by confidence in Dallas-Fort Worth’s long-term growth.

“Look at what’s happening on Knox Street, estates selling for north of $1000 a square foot, and our bread and butter, Park Cities, just getting better and better,” he said. “More in demand than ever.”

Under Conlon’s leadership, Allie Beth Allman & Associates has reported more than $18 billion in sales since 2021, including a record $4 billion in 2025. The firm has grown to nearly 400 agents and expanded with offices in Lakewood, Southlake, and Collin County, one of the region’s fastest-growing areas for residential and corporate development.

Retention has been a particular focus, Conlon said, noting that many of the brokerage’s top producers have been with the firm for more than a decade.

“If you look at brokerage photos from 2012, the front rows of leading agents that were with Allie Beth as founding partners when she started the namesake brokerage. are still here today.”

The brokerage was founded by Allie Beth Allman, a longtime figure in Dallas residential real estate whose client list has included Dallas Cowboys greats the late Tom Landry, Jerry Jones, and Troy Aikman, who in 2022 helped honor her with a lifetime achievement award, saying, “Allie Beth has a special gift of making people feel special and feel loved.”

Allman helped former President George W. Bush find a home on Daria Drive in Preston Hollow when he returned to Dallas. She also sold the 10,000-square-foot Preston Road estate of the late Trammell Crow and his wife, Margaret, the late Tom Hick’s $100 million, 25-acre Crespi Estate, and the “Southfork” mansion featured on “Dallas,” among other notables. Her listing at 4700 Lakeside Drive, where the late plastic surgeon Dr. Sam Hamra once lived, just went under contract.

When HomeServices acquired the firm in 2015, Allman remained in the CEO role. In 2020, she selected Conlon — who joined the brokerage in 2008 as an agent — as her successor, while she maintained the firm’s brand and continued selling.

“It’s such an exciting time for the company,” Allman said in a statement. “When I picked Keith as my successor, I knew that his expertise, integrity, and respect for the foundation on which this company was founded would be secure. His investment and commitment ensure the local legacy of Allie Beth Allman & Associates, and I couldn’t be prouder.”

Many have noted that Conlon, a Park Cities native and Texas Christian University graduate, is more like a son to Allman than a protege. In his 17 years at the company, he has progressed from agent to multimillion-dollar producer before moving into management and executive leadership.

Chris Kelly, president and CEO of HomeServices of America, said Conlon’s investment aligns local leadership with HomeServices’ national platform.

“Keith’s deep roots in Dallas and long-standing commitment to serving this community, combined with the national scale, resources, and support of HomeServices, create a strong foundation for continued success,” Kelly said in a statement. “We look forward to working together and building on the outstanding reputation that Allie Beth Allman & Associates has earned in this market.”

Kelly was Conlon’s competitor during Kelly’s Dallas tenure when he led Ebby Halliday Companies from 2018 to 2025.

“I always looked at him (Kelly) as a friend,” says Conlon. “Chris Kelly understands brokerages deeply, and he really understands DFW from working here.”

Kelly said the arrangement was unusual but made sense.

“This was really a unique circumstance that made sense for Keith and his family,” Kelly told Candy Evans in a text message. “When we evaluated the structure at Allie Beth Allman, we felt it made good business sense for HomeServices as well. “

When she asked if ConIon could be trendsetting a new company model — shared ownership with a local stake — Kelly said he does not expect the structure to become common in other HomeServices markets, as HomeServices has traditionally acquired 100% of the companies it purchases. But it could serve as a template in select situations.

Looking ahead, Conlon said the firm plans to continue investing in agent support, marketing, and technology as North Texas growth continues.

“With this huge investment, I’m in this for the long haul,” he said. “For the agents, this partnership gives them a peace of mind with local roots and ownership and a sense of stability as we forge ahead together. Now, the REAL work starts.”