Real Estate:

Realty One Group out to compete nationally

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Las Vegas real estate brokerage Realty One Group announced it’s expanding its footprint in California.

The company opened an office Sept. 1 in Corona in Riverside County. It has four offices in Orange County.

Realty One said it’s planning to open offices in San Diego in 2012.

In August, the brokerage acquired John Hall & Associates as part of its expansion in Arizona.

“I feel there’s a window of opportunity over the next year or two to go against the national brands because they are soft and weak,” Realty One CEO Kuba Jewgieniew said. “They have an old model, and it doesn’t work anymore. Our model is the future.”

Jewgieniew said many national brokerages take a percentage of each commission on sales, but his firm charges a flat transaction fee and allows the agent to keep the remainder.

Realty One Group was listed by INC. 500 as the 17th fastest growing real estate company with an impressive 410 percent jump in revenue between 2007 and 2010 to $2.1 billion.

The company said it’s on pace to close nearly 16,000 transactions in 2011, which would elevate it to the top 10 in the nation. It had more than 13,000 transactions in 2010.

Jewgieniew said the company’s goal is to reach No. 5 in 2012.

The company was listed No. 1 in Southern Nevada in a recent list by VEGAS INC for volume of transactions. It will be challenged by Prudential Americana Group, which in August acquired Century21 MoneyWorld.