Realty Executives Phoenix Sells to Kinetic Cos.
- Aug 25, 2014
Realty Executives Phoenix recently announced that it has been acquired by Kinetic Cos., a Phoenix-based real estate investment firm. Operations will continue under the Realty Executives name so as to continue the company’s 49-year-old tradition.
Founded in 1965 by Dale and June Rector, the family-held company has been managed for several decades by the son, Rich Rector, who continues to have an ownership share in Realty Executives International. The company is one of the largest brokerage firm in the U.S., with 11 branch offices and dozens of satellite offices throughout the state of Arizona, and it holds an impressive international presence – nearly 700 franchises in 12 countries around the world, with approximately 11,000 sales associates.
It was the first company to operate on 100 percent commission, which led it to rank among the leaders of the top 1 percent, according to a 2014 research report from Real Trends. Last year’s financial reports showed that the company’s agents averaged in excess of $85,000 in commissions, while the company brokered nearly $2.2 billion in transactions.
“Realty Executives is an agent-centric brand that aligns with our values and philosophy as a company,” said Jeff Murtaugh, partner with Kinetic Cos. “The company’s future is bright. We will continue to improve upon our brand and grow the Realty Executives family by developing the tools needed to increase career success.”