The University of St Thomas inducted their newest members into their Real Estate Hall of Fame.
This year Emma Rovick was inducted into the Hall of Fame. If you ar unaware of who Emma Rovick is, she started a small real estate brokerage in 1955. You can see her impact on the real industry wherever you drive around the Twin Cities.
In 1955, Edina, Minnesota housewife and mother of three Emma Rovick borrowed $2,000 and bought a struggling real estate firm in order to make enough money to buy a piano for her daughter. She inherited three sales people and managed to sell $2 million in real estate that first year. Her first office was at 50th and France in Edina before France Avenue was even paved.
Today Edina Realty is one of the largest privately owned real estate brokerages in the United States and is currently owned by Berkshire Hathaway.
Every year the company still honors Emma Rovick with the “Emma Rovick Award”. Edina Realty presents this award to one Agent who exemplifies the ethics and honest service the Emma inspired.
Not a bad legacy to leave behind. Congratulations to all the Rovicks. (read more about Emma Rovick and the charitable Edina Realty Foundation)
Emma Rovick(1908 – 1987)
With a significant amount of determination and strong leadership, Emma Rovick, a housewife and mother of three, built Edina Realty to be one of the largest real estate companies in the nation. While expanding the company from a single branch to a full-service real estate company, Ms. Rovick’s emphasis on the importance of honesty, integrity and commitment were imbedded in the company values.
In 1955, Ms. Rovick borrowed $2,000 to buy a struggling real estate firm with the hopes of using the profit to buy her daughter a piano. With this purchase, she inherited three sales people and went on to sell $2 million in real estate that first year. Edina Realty began with a single office location on 50th Street and France.
Ms. Rovick’s personal values are evident in the way that she operated the company. One thing Ms. Rovick was best known for was her desire to never feel the need to cross the street to avoid encountering a past client. She is quoted as stating “If the time ever comes when we cannot sell a home with integrity and concern for the family, then we need never sell another one.” She expected everyone in her company to conduct business according to this philosophy.
Through Ms. Rovick’s strong leadership, Edina Realty grew from that single office to a company that also included a mortgage company known today as Edina Realty Mortgage. In 1978, Edina Realty was the first real estate company in the Midwest to reach $200 million in sales volume in just one year. In 1984, Ms. Rovick’s sons, Roger and David Rovick, bought the company from her. At that time, there were an estimated 800 sales associates and sales volumes reached $959 million.
Today, the company Ms. Rovick began in 1955 to buy her daughter a piano has expanded to be one of the nation’s largest real estate companies. Edina Realty now includes approximately 60 real estate offices throughout Minnesota, North Dakota and western Wisconsin, and nearly 2,100 realtors.
Other inductees were:
The Dayton Brothers