Mr. Inman sat down with Mr. LaVais to celebrate the company’s 50th anniversary and discuss what it takes to lead a brokerage firm for half a century.
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In 1974, 27-year-old William Raves rented a small office above a supermarket in his hometown of Fairfield, Connecticut.
Fifty years later, Labais remains at the helm of the company, which still maintains its headquarters in Connecticut but has more than 4,500 agents in 140 offices in nine states up and down the East Coast. The company gathered at the Mohegan Sun Casino in Uncasville, Conn., last week to host a half-century anniversary convention featuring speakers and entertainment, and declared March 27 as “William Loves Day” in Connecticut. received an official state declaration.
Raveis celebrates 50 years of William Raveis Real Estate.Photo: AJ Canary Creative Services
Since 1974, the brokerage has expanded in both size and scope, with mortgage and insurance businesses alongside its original brokerage business. LaVais himself continued to lead the company with his sons Chris LaVais and Ryan LaVais, rising to the position of real estate visionary.
Mr. Inman sat down with Mr. LaVais to celebrate the company’s 50th anniversary and discuss what it will take to lead the brokerage firm for half a century and set it up for another 50 years of success.
Inman: How do you feel about celebrating your 50th anniversary?
William Laveis: Our journey has just begun. As a family-owned business, we have weathered the ups and downs of the economy to rise to the top. His eight recessions, starting with the 1974 oil embargo. That year I quit my job at Westinghouse and decided to open my first real estate office in my hometown of Fairfield, CT.
So we learned about our current position in the market. We are the number one family-owned real estate company in the Northeast, Florida and South Carolina, with more than 4,500 sales associates, 140 offices and growing. In 2023, he won industry awards such as Inman’s Top Brokerage.
I am grateful and proud to be surrounded by such an amazing group of agents, managers, and employees. Fifty years is a huge milestone, but one rarely achieved in our industry.
Raveis in the late 1970s. Image: William Raveis Real Estate
Inman: What is the secret to the longevity of your real estate company?
WR: Endurance and resilience are key. You have to endure a lot of pain and suffering. The result is increased resilience. This resilience gives us the ability to overcome any future challenges.
Second is our belief in treating agents as preferred customers, with nationally certified strategic growth coaches and support staff as operating partners to help them succeed. Our business model was groundbreaking in his 70s and remains so today.
Finally, in collaboration with my two sons, Chris and Ryan Labais, we bring innovation and products in real estate, mortgage, and insurance services under one roof for the benefit of all our agents and customers. We will continue to build William Labais’ future into the next century.
Inman: How has the company evolved over the past 50 years?
WR: As a family business of entrepreneurs, we believe competition is good. That makes us stronger as a company. We continually adapt and grow by leaning into change rather than retreating from it.
For example, using AI for luxury marketing and personal branding are two areas where William Raveis agents are better than their competitors. Over the years, we’ve witnessed 100 percent schemes and Wall Street venture-backed companies trying to upend industries, but fads come and go. Some businesses are no longer in business. We’re not going anywhere because we keep evolving.
Inman: William Raveis is an independent brokerage firm. How can you stay competitive with the big franchises?
Unfortunately, we are one of the largest independent securities firms in the country. With more than 140 offices and 4,500 agents in nine states from Maine to Florida, he continues to expand into key luxury markets as his No. 1 in the Northeast and South. My question is how do others compete with us?
Mr. Raveis addresses the crowd at the 50th anniversary convention.Image: AJ Canary Creative Services
William Rabeis is reaching this milestone at a time of great change in the securities industry. How do you think brokerage firms can remain adaptable to survive the next 50 years?
Quite simply, what matters is the value that we and our sales force provide to sellers and buyers. Ultimately, the market will decide the winners and losers, but our goal is to be in the winner’s circle 10, 20, and 50 years from now.
Our family business is built on family values. Treat people as we would like to be treated ourselves, with compassion, civility and respect.
In fact, I wrote a little book outlining it. 10 Noble Rules for Compassionate Leadership That is our guiding principle. The first is that we are leaders who put others first. But #10 is “We enjoy the journey.”
When you love what you do, 50 years doesn’t seem that long.
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