Inman sat down with Raveis following the company’s 50th anniversary to discuss leading the brokerage for half a century.
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In 1974, 27-year-old William Raveis rented a small office above a supermarket in his hometown of Fairfield, Connecticut.
Fast forward 50 years, and Raveis is still at the helm of a company that has more than 4,500 agents in 140 offices in nine states up and down the East Coast, while still maintaining Connecticut as its headquarters. The company held a convention last week at the Mohegan Sun Casino in Uncasville, Conn., to commemorate the half-century anniversary with speakers and entertainment and received a formal state proclamation declaring March 27. “William Lavis Day” in Connecticut.
Raveis celebrates the 50th anniversary of William Raveis Real Estate.Photo: AJ Canaria Creative Services
Since 1974, the brokerage has grown in size and scope to include mortgage and insurance operations in addition to its original brokerage operations. Raveis himself has risen to status as a real estate visionary and continues to lead the company with sons Chris Raveis and Ryan Raveis.
Inman sat down with Raveis following the company’s 50th anniversary to discuss leading a brokerage for half a century and positioning it for success over the next 50 years.
Inman: What are your thoughts on the 50th anniversary mark?
William Lavis: Our journey has just begun. As a family-owned business, we’ve weathered all the economic ups and downs to come out on top. Beginning with the oil embargo in 1974, there have been eight recessions. That year I decided to quit my job at Westinghouse Electric Company and open our first real estate office in my hometown of Fairfield, Connecticut.
Which brings me to our current position in the market: the #1 family-owned real estate company in the Northeast, Florida and South Carolina with over 4,500 sales associates and 140 office locations and still growing. Won the 2023 Inman Best Broker and other industry awards.
I am grateful and proud to be surrounded by such an incredible group of agents, managers and employees. Fifty years is a major milestone that is rarely achieved in our industry.
Lavis in the late 1970s.Photo: William Raveis Real Estate
Inman: What’s the key to longevity for a real estate company?
Write: Endurance and resilience are key. You have to endure a lot of pain and suffering; as a result, you develop resilience. This resilience enables you to handle any challenges ahead.
Second, we believe in treating our agents as priority customers – as their operating partners, and have nationally certified strategic growth coaches and support staff to help them succeed. Our business model was groundbreaking in the 1970s and remains so today.
Finally, working with my two sons, Chris and Ryan Raveis, to build the future of William Raveis for the next century by delivering innovation and products in real estate, mortgage and insurance services for the benefit of all agents and clients.
Inman: How has the company evolved over the past 50 years?
Write: As an entrepreneurial family-owned company, we believe competition is a good thing. It makes us stronger as a company. We continue to adapt and grow by embracing change rather than shrinking back.
For example, using artificial intelligence for luxury marketing and personal branding—two areas where William Raveis’ agencies stand out from the competition. Over the years we’ve seen 100% of initiatives and Wall Street venture-backed companies try to disrupt the industry, but fads come and go. Some companies are no longer in business. We’re not going anywhere because we’re constantly evolving.
Inman: William Raveis is an independent brokerage firm. How does it stay competitive with larger franchises?
Sorry, we are one of the largest independent brokerages in the country. With more than 140 offices and 4,500 agents in nine states from Maine to Florida, we continue to expand our key luxury markets, becoming the No. 1 market in the Northeast and South. My question is how others compete with us.
Lavis addressed the crowd at the 50th anniversary convention.Photo: AJ Canaria Creative Services
William Raveis achieved this milestone at a time of great change in the brokerage industry. How do you think brokerages can maintain their adaptability to cope with developments in the next 50 years?
Quite simply, the value our company and our salespeople provide to sellers and buyers is what matters most. The market will ultimately determine winners and losers, but our goal is to be in the winner’s circle in 10, 20 and 50 years.
Our family business is built on family values. Treat others the way we would like to be treated, with compassion, courtesy and respect.
In fact, I wrote a little book outlining Ten Noble Rules for Compassionate Leadership This is our company’s guiding principle. The first is: We are leaders who put others first. But number ten is: We had fun and enjoyed our trip.
Fifty years isn’t that long when you love what you do.
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