Toufic Eid
Usman Ahmed
Javad Ali
Junaid Qaiser
City University of New York - College of Staten Island
Deepa Aravind
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Rapid Realty paved its way into the real estate industry by innovating its business model. They sold homes and rented apartments by going greener. A green home is a healthy home. Rapid Realty utilizes a business model where franchises can start their own location and use their very own strategy to generate sales. Ultimately, the main goal is to make the environment healthier and cleaner while selling healthy living environments to home buyers. Therefore, Rapid Realty innovated the game by incorporating a community service program.
Rapid Realty has taken many approaches to support society in a healthier way. One particular approach includes the way licensed agents persuaded home builders to install solar energy into new homes in order to save electricity. Rapid Realty's main goal is to promote a healthier environment by renting out apartments that are "healthy", as mentioned by Katherine Angelucci; the franchise owner. A “healthy” apartment is defined by Rapid Reality as being resilient, sustainable and green (eco-friendly; this includes homes and apartments with solar electricity, textile recycling, green roofs and gardens and E-waste recycling).
Another method utilized was making the environment more green by means of planting trees, cleaning up parks, and watering flowers. Katherine informed us that the Green Program is mandatory for every agent and are required to complete some sort of action before the year ends. Rapid Realty helps to make the world a better place by requiring agents to commit to society. Rapid Reality also offers green services and solutions to promote sustainable, resilient, and eco-friendly building practices in the real estate industry. Something extra that Katherine mentioned doing in her particular office was bringing in people ranging in all ages with autism into the office. She says "it gives them a chance to step out of the care center they are in and into the real working world. Seeing the smile on their faces as they play with the keyboards and spin the chairs warms my heart."
The Green Program, as well as the idea of opening up franchises, came from Anthony Lolli; Rapid Realty CEO. When Rapid Realty first began it was initially a real estate school. Later on, Anthony got into sales. Katherine was there from the start as a real estate teacher. However, as the company continued to grow, many agents wanted to open up their very own franchise. Anthony Lolli made his mother a promise that he would make their family wealthy one day. And each by day he stuck to that promise. Additionally, he took action after being interviewed on the tonight show, which sparked interest in the brand. From then on, he was inspired to open up franchises across America. This lead to Katherine owning her very own location.
The main effects of the innovation are considered long term. One main impact is home buyers finding a healthier home. With Rapid Realty, they will able to find an apartment with a healthy environment in terms of clean air, water, and natural solar energy. There's a bit of a learning curve for both renters and buyers. Buyers will learn that they can find an apartment with a better environment for their family through Rapid Realty, while sellers can learn that they can cut costs of electricity by installing solar panels while charging tenants the same price. It's a win-win situation.
Rapid Realty will benefit from these actions in a positive way. They are providing healthier homes, which leads to strong word-of-mouth advertising. Helping a family find a healthy home spreads word to others. Moreover, Rapid Realty is the only company that allows for franchises. Therefore, this inspires upcoming agents to open locations and thus expand Rapid Realty across America. As of today, there are 65 Rapid Realty Locations in Brooklyn. It has increased quickly and was even considered in the 5000 fastest growing companies in the world. This was a major achievement for Rapid Realty.
Through the actions of the company, society and the environment are benefiting as a whole. Clean water, clean air, and less electricity are making the world a better place to live in. Society is drinking cleaner water than ever and breathing in fresher air due to the new implemented trees and flowers. Parks are getting cleaned up. Electric bills are decreasing and so is pollution. Rapid Realty has enabled buyers to find clean living environments. Slowly but surely, Rapid Realty is creating a better living style for everyone.
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Katherine Angelucci, Office Manager / Real Estate Broker
