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REALTY FRANCHISE PLANS TO DOUBLE IN CALIFORNIA IN 1992

 REALTY FRANCHISE PLANS TO DOUBLE IN CALIFORNIA IN 1992
 SAN DIEGO, Jan. 28 /PRNewswire/ -- As part of a plan to double the size of the Realty Executives franchise in California during 1992, owners of 24 California real estate offices licensed as Realty Executives franchises met in San Diego on Jan. 25 to form a statewide marketing and support association. The new group elected Richard Grommon, owner of Realty Executives-Santa Clarita Valley as president, and Ed Terk of Realty Executives-Antelope Valley as treasurer. J. Ward Lewis and Bill Clark, owners of San Diego Realty Executives brokerage firms were named to represent San Die Realty. Northern California will be represented by Ben Hom of Realty Executives-San Francisco.
 The first order of business was to establish a California advertising fund to supplement local and national advertising funds operated by individual owners and by the national and regional Realty Executives offices.
 Rich Rector, president and chief executive officer of Realty Executives International, commented: "The California owners association is an important tool for us as we push Realty Executives into the dominant position in more and more California communities. Our California operation is already well on its way toward meeting its goal of doubling this year, despite the recession. This new marketing power and support network will play a key role in meeting our goal." Realty Executives' California offices currently serve 700 agents in communities from Sacramento, Calif. to San Diego.
 Realty Executives, which operates throughout the United States and Canada, was named by Inc. magazine as one of the 500 fastest growing private U.S. firms in each of the last two years. It was the nation's first real estate firm to professionalize the relationship between agent and broker. The managing broker reviews an agent's transactions and provides office support services for a monthly professional fee paid by the agent. The broker does not share in the commissions earned by the agent. Founded in 1965, the firm has been credited for attracting highly educated professionals into real estate careers. The firm's controversial move into professional office locations and away from retail storefronts, and its early use of computers for property searches and marketing established trends in the U.S. realty industry.
 Other "100 percent" real estate firms have been founded in recent years, most notably Re/Max, which was started by a former Realty Executives associate. However, Realty Executives remains unusual in the industry for its strong policy of not splitting market areas among competing franchisees, and its ability to offer flexible operating agreements customized to the needs of individual markets.
 -0- 1/28/92
 /CONTACT: Dennis Burke of E.B. Lane & Associates, 602-258-5263, for Realty Executives/ CO: Realty Executives ST: California IN: FIN SU:


EH-KJ -- LA025 -- 4485 01/28/92 18:23 EST
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Publication:PR Newswire
Date:Jan 28, 1992
Words:460
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