Rapid Realty

Rapid Realty NYC
Private
Industry Real estate
Founded Park Slope, Brooklyn 2009
Founder Anthony Lolli
Headquarters New York City
Number of locations
 65 (December 2013)
Website rapidnyc.com

Rapid Realty NYC is New York City’s largest rental-based real estate brokerage and the first rental brokerage in New York to utilize a business franchise model.[1][2] As of December 2013, Rapid Realty had 65 offices.[3][4] The company is based in Brooklyn.[5]

Rapid Realty’s CEO is owner-broker Anthony Lolli.[4][6]

History

The company was founded as a real estate agency in 1998 by Anthony Lolli.[7] In 1998, Lolli opened the first Rapid Realty in Park Slope, Brooklyn.[2] The first Rapid Realty franchise opened in Bay Ridge, Brooklyn in 2009. The company has 65 locations with an office in Boston.[8] In September 2013, the company opened its first office in California in San Diego.[9] The company has been recognized for using an "assembly line" of specialists for different stages of the rental process.[9]

In 2012, Rapid Realty was named one of the city's best firms by real estate newspaper, The Real Deal.[3] The company was recognized with Inc. Magazine's 2012 Inc 5000 award.[10] In 2013, it was awarded Franchisee Satisfaction Award by the Franchise Business Review.[3]

In 2013, it was widely reported that Rapid Realty gives a permanent pay increase to its brokers that get a tattoo of the company’s logo.[11][12][13][14] This policy started when one employee got a tattoo to show company loyalty and about 40 employees have received the tattoo.[15] After getting the tattoo, employees receive the title "Brand Ambassador" and a pay increase to 40% of rental commissions.[16] The Rapid Realty logo tattoo is paid for by Lolli.[17] Also in 2013, Leopard Films began producing a reality television show that focuses on the brokerage.[18]

The company was one of Franchise Business Review's 2014 Top 200 Franchises.[19]

Further reading

References

  1. ↑ Helaina Hovitz (October 8, 2013). "Real Estate Entrepreneur Is First to Win Golden Bridge Award". Commercial Observer.
  2. 1 2 Staff (November 29, 2011). "Rags-to-riches rise for Rapid Realty founder". Real Estate Weekly.
  3. 1 2 3 Raanan Geberer (December 23, 2013). "Adams names Brooklyn real estate exec as adviser". Brooklyn Daily Eagle. Retrieved April 26, 2014.
  4. 1 2 Melisa Stumpf (February 6, 2013). "Talk about rapid". Home Reporter.
  5. ↑ Hayley Kaplan (June 1, 2013). ""Hybrid" home-seekers on the hunt". The Real Deal.
  6. ↑ Jennifer Gould Keil (October 10, 2013). "$100M penthouse rising near United Nations". New York Post.
  7. ↑ Nicole Fallon (November 19, 2013). "Golden Bridge Awards' 2013 Entrepreneur of the Year Shares Secrets to Success". Business News Daily. Retrieved April 26, 2014.
  8. ↑ "Rapid Realty’s Anthony Lolli named adviser to Brooklyn borough president". inman news. December 23, 2013. Retrieved April 26, 2014.
  9. 1 2 Teke Wiggin (September 16, 2013). "‘Assembly-line’ franchisor Rapid Realty marching into California". inman news. Retrieved April 26, 2014.
  10. ↑ Julia Lewis (June 10, 2013). "Rapid Realty experiences huge growth in 2013". Brooklyn Daily. Retrieved April 26, 2014.
  11. ↑ Staff (April 13, 2013). "NYC Realtor Offers Employees Pay Raise For Getting Tattoo Of Company Logo". CBS New York.
  12. ↑ Lucy Cohen Blatter (May 1, 2013). "37 Rapid Realty agents get tattoos with firm logo". The Real Deal.
  13. ↑ Susanna Kim (May 1, 2013). "Realty Firm Offers Raises for Company Tattoo". ABC News.
  14. ↑ Quan, Kristene (2 May 2013). "Employees Get Tattoo of Company Logo For Pay Raise". Time.
  15. ↑ "NYC brokerage rewards workers who get tattoos". USA Today. May 3, 2013. Retrieved April 26, 2014.
  16. ↑ Lucy Cohen Blatter (May 1, 2013). "37 Rapid Realty agents get tattoos with firm logo". The Real Deal. Retrieved April 26, 2014.
  17. ↑ Vi-An Nguyen (May 2, 2013). "Would You Get a Company Tattoo for a 15 Percent Raise?". Parade. Retrieved April 26, 2014.
  18. ↑ Hayley Kaplan (January 28, 2013). ""Renting" New York: Rapid Realty tries its hand at reality television". The Real Deal.
  19. ↑ "Best of the Best: Top 200 Franchises". Franchise Business Review. 2014. Retrieved April 26, 2014.
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