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Some 26 years after founding the firm that would become Reece & Nichols, Jerry Reece has stepped down as the brokerage’s CEO. Linda Vaughan, Reece & Nichols’ president, has taken on the CEO position.
Reece will continue as chairman emeritus of the brokerage. He began his real estate career in 1970 with Kroh Brothers Realty Co. as a sales associate and in 1987 bought the brokerage’s residential real estate division, renaming it J.D. Reece Realtors. Berkshire Hathaway affiliate HomeServices of America acquired the firm in May 2001 and merged it with J.C. Nichols Residential Real Estate the following year. Reece was named the company’s CEO and grew the company to more than 1,900 sales associates.
“Jerry’s leadership, dedication and uncompromising commitment to his agents, employees and customers guided Reece & Nichols to its position as one of the largest and most successful companies within the HomeServices family,” said Ron Peltier, chairman and CEO of HomeServices, in a statement.
“On behalf of all of HomeServices, we thank him for his innumerable contributions and we look forward to his new role within the organization.”
Reece said he was excited for his new role.
“Being part of the HomeServices family of companies has made Reece & Nichols stronger, and I am proud to have assembled such a talented and innovative leadership team,” he said.
“Linda is extraordinarily well-qualified to serve as CEO, and under her leadership, coupled with our remarkable agents and management team, Reece & Nichols is poised for even greater growth and success.”
Vaughan, a 37-year veteran of the real estate industry, has served as president of Reece & Nichols since 2005. She has been responsible for the overall growth and profitability of the brokerage division of the business, HomeServices said.
“Vaughan’s real estate experience, business acumen and her ability to build and sustain relationships while delivering value-added marketing solutions and innovative technologies has been instrumental to Reece & Nichols’ success,” the company said.
Mike Frazier, Reece & Nichols’ chief financial officer, will now also take on the role of chief operating officer. In addition, Chris Kelly, the brokerage’s general counsel, has been named chief administrative officer.
“Linda, Mike and Chris bring extensive industry knowledge and exceptional leadership qualities to both Reece & Nichols and the HomeServices executive team, and we look forward to working with them in the months and years to come,” Peltier said.