Realty Executives International CEO David Tedesco has acquired the remaining shares of the company from former president and co-owner Rich Rector, the brand recently announced. Tedesco is the founder and CEO of True North Companies, which acquired majority ownership of Realty Executives in 2014.
“Rich and his family began building a business with innovation and entrepreneurial spirit at its core 50 years ago,” says Tedesco. “Owning 100 percent of the company frees us up to pursue our growth strategy even more aggressively, with our focus on expanding our network of high-performing brokers, agents and teams.”
“I’m excited to know that the Realty Executives brand is in the best possible hands for future growth,” says Rector. “My wife and I have been working on succession planning for a number of years. This is the final step in our plan. We brought David and the team at True North on and could not be happier with the progress that’s been made.”
True North Companies has spent the last three years rebuilding Realty Executives International, replacing the entire management team, as well as replacing third-party vendors with proprietary technology. The brand, which recently launched a growth campaign with coverage in major industry outlets, including RISMedia’s Real Estate magazine, expects to grow to 25,000-30,000 agents within the next few years.
For more information, please visit www.RealtyExecutives.com.
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