Realty Executives International Acquires the Northern Arizona Brokerage
SCOTTSDALE, AZ, April 3, 2018 – Realty Executives International has acquired a 50% stake in Realty Executives Northern Arizona, buying out its two minority partners. This is the first move the parent company has made, as part of its investment strategy, by orchestrating a sizeable investment in an existing brokerage, making Realty Executives Northern Arizona the model for the organization’s partnership approach it plans to expand on a global scale.
“Part of our aggressive growth strategy is to make significant investments in our existing brokerages, infusing cash and resources to catalyze recruiting and expansion,” explains David Tedesco, CEO of Realty Executives International. “We have started this process in our own backyard with Realty Executives Northern Arizona, which has a significant market share as well as strong leadership. We are excited about the significant growth potential as we join forces.”
Led by Broker/Owner Don Bonnell and Managing Broker Cynthia Yannitelli, Realty Executives Northern Arizona serves Prescott, Prescott Valley, Dewey, Chino Valley, Sedona, Cottonwood, Camp Verde, Verde Valley, Payson, Happy Jack, and cities throughout central and northern Arizona. Their brokerage has gained both national recognition by leading industry publications as well as the vote of local patrons. In November, Realty Executives Northern Arizona was again named “Best Realty 2017” by Quad Cities Business News for the fourth year in a row. But even with this success, the leadership believes they are just getting started.
“We have been the number one company for 11 out of the last 12 years in the Prescott area,” Bonnell said. “Realty Executives International taking an ownership stake in our business will enable us to ramp up our recruiting efforts and provide even better support and resources to our team of top performers.”
The first effort following the partial acquisition is an exclusive recruiting program offering benefits built for highly productive agents and teams. Realty Executives will be debuting this new model in the Northern Arizona market as part of the company’s Experience Freedom™ campaign, then expanding it across its global network.