BrokerageIndustry News

Real estate industry veteran, Richard Sommer, dies

Sommer remembered for 'larger than life personality' and 'unwavering friendship'

Real estate industry veteran Richard Francis Sommer died unexpectedly of heart failure in London on Sept. 6, according to family members. He was 50. "His death came as a great shock to us all. How could his vibrant and energetic presence be taken from us without warning? How will we cope with the emptiness left in his absence?" the family said in a statement. Sommer was born and raised in Chicago and graduated from Princeton University. A Rhodes Scholar, Sommer earned a master of philosophy degree in international relations at Oxford and later a law degree at Stanford University, according to the Rhodes Trust website. Sommer served as president and managing director of international real estate operations of Homestore Inc., now known as parent Move Inc., starting in 2001. In 2002,  he joined IndyMac Bank Inc. as senior vice president of business development for its mortgage banking unit.In August 2004 he became CEO of From 2006-07 he served as C...