Welcome!

News Feed Item

Realty Executives Growing; Acquired by Kinetic Companies

Southwest Investment Firm acquires and merges Phoenix, Tucson and Yuma Realty Executives operations.

PHOENIX, Aug. 21, 2014 /PRNewswire/ -- Realty Executives Phoenix announced today the company has been acquired by Kinetic Companies, a Phoenix based real estate investment firm.  Operations will continue under the Realty Executives moniker, as the brand has been synonymous with integrity and professionalism for nearly 50 years.

Realty Executives International, Where the Experts Are

A family business, Realty Executives was founded by Dale & June Rector and has been owned and operated by his son Rich Rector for several decades.  Mr. Rector, with continued ownership in Realty Executives International, will focus efforts on the growth of the International brand, which currently has a presence in 24 countries around the world.  Rector was deliberate in his choice to sell what has been referred to as the crown jewel Realty Executives franchise to an existing franchisee.  Jeff Murtaugh has garnered national attention and recognition, most recently having been named 'Most Valuable Broker Owner' at the International Franchise Awards in 2013. Jeff Murtaugh is a 37-year veteran in commercial and residential real estate brokerage and is a partner with Phoenix based Kinetic Companies. Murtaugh has served as President of the Tucson operation for the past several years and grown the franchise from approximately 50 agents to well over 250 agents in just two short years.  In his expanded role, he will serve as President and CEO of Realty Executives for Phoenix, Tucson and Yuma.  Gerry Russell will continue as Designated Broker for the Phoenix offices and there are no changes to executive management or staffing as the expertise and proven track record demonstrated by the Realty Executives team will allow Realty Executives Phoenix to pursue additional growth in the Arizona market.

"As I concentrate on the growth of Realty Executives International, I am fully confident and look forward with excitement to witness Jeff and his team offer expanded opportunity and success to our agents…Whether it's sales generation or an innovative approach to day-to-day operations, he's proven himself as a true leader not only within the organization, but within our industry," said Rector. 

Founded in 1965 by Dale Rector, Realty Executives Phoenix currently spans 12 branch offices throughout Maricopa County.  Though many competitors have since followed suit, Realty Executives Phoenix was the first 100 percent commission company.  This innovative approach made Realty Executives Phoenix a top brokerage in terms of per agent productivity since 1972.   Realty Executives saw its share of challenges, as with most real estate brokerages during the global financial crisis.  Rector is quick to point out the company's current successes and is proud of having navigated the challenges and sustained its reputation for tenured professional agents. Of 80,000 brokerages worldwide, Realty Executives Phoenix ranks among the leaders of the top 1% according Real Trends 2014 annual research report on dollar volume and transactions.  In 2013, Realty Executives agents averaged in excess of $85,000 in commissions and closed an average of nearly 15 transactions each while the firm completed nearly $2.2 billion in transaction volume and over 8,200 transactions ("sides"). 

"Realty Executives is an agent-centric brand that aligns with our values and philosophy as a company," said Murtaugh. "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."  

Kinetic Companies, the parent company to Realty Executives Phoenix, has over 70 years of real estate brokerage experience between its partners.  Co-Founder, Joel Moyes, who is also State Director for the International Council of Shopping Centers, a globally recognized real estate industry trade group, stated, "Our extensive background within the real estate space allows us to fully appreciate the agents needs.  We understand that agent support is of paramount importance and we fully intend to continue building upon Realty Executive's solid foundation established by the Rector family."

About Realty Executives Phoenix
Realty Executives Phoenix is one of the largest real estate brokerages in the United States with 11 branch offices and dozens of satellite offices throughout the State of Arizona.  Founded in 1965 by R. Dale Rector, Realty Executives revolutionized the real estate industry as the nation's first 100 percent commission company. Based on the spirit of entrepreneurism, the brokerage has thrived in the Phoenix metropolitan area and nationally as one of the most productive brokerages in the United States for the last 48 years.  Since 1972, Realty Executives Phoenix has held the honor of being a top brokerage in the Phoenix metropolitan market for per agent productivity. For additional company information visit www.RealtyExecutivesPhoenix.com

About Realty Executives International, Inc.
Realty Executives International, Inc. is one of the fastest growing real estate franchises in the United States, with nearly 11,000 sales associates and approximately 700 franchises. The Phoenix-based, privately held company has offices in 24 countries: United States, Africa, Australia, Bahrain, Belize, Canada, Costa Rica, Dominican Republic, France, Greece, Honduras, Israel, Kuwait, Mexico, Panama, Poland, Romania, Nicaragua, Oman, Qatar, Saudi Arabia, Spain, Turkey and United Arab Emirates. Publications like Entrepreneur, Success and Inc. magazines have recently ranked Realty Executives International as a leader in the real estate industry based on franchise growth, management stability and financial soundness. For additional company information visit www.RealtyExecutives.com.

Photo - http://photos.prnewswire.com/prnh/20140821/138677

SOURCE Realty Executives Phoenix

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...