PHOENIX, AZ – Realty Executives, top ranked international real estate franchisor, is proud to celebrate 55 years in 2020. Throughout the decades, Realty Executives has helped home buyers and sellers across the globe. With over 500 offices and 8,000 agents, Realty Executives International has withstood the test of time, reaching a milestone rarely seen in real estate.
Founded in 1965 in Phoenix, Arizona by Dale Rector, Realty Executives quickly established themselves as an industry disruptor, Rector being credited with the invention of the 100 percent commission concept. Seeing a pattern of agents paying high commissions and keeping low profit, Rector set out to create a business that put the individuals first- the basis of which Realty Executives still runs on today.
“The company is named for the Executives and brokers that make it work. They are the elite professionals who personify the values, service and efficiency it takes to become tops in their field,” Rector said. “They are more than agents or brokers. They are ‘Executives’ in every sense of the word. Our company promotes our Executives as individuals to help them create the name recognition they need to grow their business.”
Rector’s son and real estate broker, Rich Rector, took over the business in 1980. After years of global expansion and network growth under Rich, Arizona capital firm, True North Company, became majority owners of the franchisor in 2014. This new ownership appointed David Tedesco, CEO. With a renewed focus on technology, Tedesco built an in-house technology development team, getting rid of all third-party tools. In the next few years, multiple initiatives launched, including: exclusive intranet, PrimeAgent, agent websites, CRM platform, listing and video automation, On-Demand Mobile Marketing and more. In 2018, Patrick van den Bossche was appointed President of Realty Executives International, with over 30 years of business growth and leadership experience.
Realty Executives International and franchisees have continued to earn top industry rankings including Top Franchises, Real Trends “The Thousand” and “America’s Best”, RisMedia’s Newsmakers and Power Broker Report, along with thousands of local rankings.
In 2019, Tedesco launched Outlier, making Realty Executives part of one of the largest private capital firms in the U.S. Continuing its focus on technology, the real estate brand also became the first real estate franchise to launch a proprietary data standardization and mapping platform. This development lead to faster and more reliable home listing updates, providing better resources for agents and better service for consumers.
“Our internal development team allows us to uniquely position our brand for a higher level of functionality, efficiency and customer service,” Tedesco said. “Our goal is to continue to adapt and evolve, while always staying true to Dale’s vision for this brand: building a better business for the individuals, not the corporate offices.”
Realty Executives International is thrilled to be celebrating over five decades of success alongside the professionals they get to partner and work with everyday.
“This celebration is not about what we have accomplished as a brand, but about the incredible accomplishments we have achieved as Executives, brokers, administrators and business partners,” van den Bossche said. “Our network works tirelessly to build their business and represent Realty Executives as a company that not only does their job well, but truly cares about the community they serve. I am so proud to be a part of this network and cannot wait to celebrate our roots and our future successes.”