Realty Executives International acquires Northern Arizona brokerage
Realty Executives International of Scottsdale has acquired a 50-percent stake in Realty Executives Northern Arizona, buying out its two minority partners, according to a news release. 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.
“Part of our aggressive growth strategy is to make significant investments in our existing brokerages,infusing cash and resources to catalyze recruiting and expansion,” said David Tedesco, CEO of Realty Executives International. “We have started this process in our own backyard with Realty Executives Northern Arizona, which has 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, and Payson.
In November, Realty Executives Northern Arizona was again named “Best Realty 2017” by Quad Cities Business News for the fourth year in a row.
“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.”