Big happenings in West Knoxville this week as Realty Executives Associates throws a party from 4-7 p.m. Thursday, Sept. 23, to mark the opening of its new office at 124 N. Winston Road. Ribbon-cutting is at 4.
“Come celebrate with us,” said CEO Justin Bailey. “We would love to have you see our new space, have a drink and hear about the way we believe this building tells the story of the future of Realty Executives Associates in East Tennessee.”
It’s been one year since Bailey took down his sign, Bailey & Co. Real Estate, in Powell to take the top job with Realty Executives. His daughter, Liv, then 4, asked if the family would have to change their last name.
No, but other big changes were in store.
Realty Executives has grown by 150 agents in the last 12 months, taking the agency to 727 agents – the largest in East Tennessee and the third largest in the state. REA sold over $2.3 billion in 2020.
Why are so many agents moving to Realty Executives?
Carl Young, head of the 11-member Young Marketing Group, joined REA in 2020. He was attracted by the Powered Brand model – a concept that allows a team to set up its own independent real estate office backed by the power of Realty Executives’ national brand.
Young said it’s simple. “They are the biggest firm in East Tennessee. We met with (CEO) Justin (Bailey) and (president) Steve Fogarty and it was apparent Young Marketing Group would be a good fit.”
Broker support is another reason agents join REA. Brokers Pat McGill (Blount County), Steve Fogarty (Farragut), Tony Rodgers (North) and Justin Bailey (West Hills), are non-competing. They do not take listings or sell properties, but are there solely to assist agents.
Agent compensation is important. REA brought the 100% model to the Knoxville area, and its plans still reflect the principle of “more to the agents.” The brokerage does not charge a passed-down franchise fee. This alone could save an agent upwards of $10,000 a year.
Technology, a buzzword these days, is not overlooked. REA’s central dashboard, called PrimeAgent, serves as a customer relationship manager and news center – which connects agents. In addition, REA averages 3-5 free training classes weekly.
In one year at REA, Bailey has attracted a new demographic of agents – team players who support one another and work hard to take care of clients. REA is a solid company, deeply rooted in our communities and led by authentic leadership.
Director of Communications Kyle Basila posted on social media: “I spent the last few weeks opening our new office in West Hills. I’m truly convinced that the people in this building are changing the way the world views real estate. This office is more than just four walls; it’s a place to collaborate, learn, grow and simply a place to be. I’m truly humbled to be a part of what’s going on here Realty Executives Associates!
A year ago, Justin Bailey wrote: “The truth is this – business is about people. A company is much more about the people who bring it to life every day than the name or the logo or the established date. A company and its brand in the marketplace are completely dependent upon each individual employee coming together to rally behind a common goal. Without good people, a company is just a hollow brand and some office supplies.”
As Realty Executives Associates continues its growth in East Tennessee, it grows with good people. And we’re all invited to celebrate with them Thursday 4-7 p.m. at the new West Hills office.
Please enjoy these photos of the new digs.