Consolidation Gives RE/MAX Office In Addison A Larger Footprint In Metro Chicago Real Estate Market

Broker/Owners Peter and George Dravilas RE/MAX Preferred Properties, Addison

The RE/MAX offices in Addison and Bensenville, Ill., joined forces on Sept. 1 in a move designed to streamline operations and reduce overhead. Agents from the Bensenville office have now joined RE/MAX Preferred Properties of Addison, which will have an expanded footprint in the west suburban segment of the metropolitan Chicago real estate market.

Established 25 years ago, RE/MAX Preferred Properties is now jointly operated by Peter Dravilas, its founder, and his son, George Dravilas. The office is located at 715 Lake St. in Addison.
“We’re happy to welcome the agents from Bensenville, including Mike Loiacono and Adam Vena, the broker/owners of that office, to our RE/MAX Preferred Properties team and to our Addison office, which was extensively updated just a year ago,” said Peter Dravilas. “We’ve built a strong reputation for service and professionalism during the past quarter century, and these new agents will allow us to leverage that by providing a greater presence in a vital and growing segment of the market.”

Dravilas noted that in a real estate market where total transaction volume, and thus commission levels, are down, real estate brokerages are seeking out ways to reduce overhead and maximize productivity and that office consolidation is an important tool in that effort.

“We are able to capitalize on the fact that in this era of the Internet and wireless communications, agents use their offices less and spend more time in the field. We have ample room for future growth and also can give our agents the technological tools they need to be maximally productive,” he said.

The consolidation of the two offices comes at a time, Dravilas reports, when the DuPage County residential market is showing signs of a rebound.
“The commercial market is facing issues related to the availability of financing that may not be solved this year, but the residential market is definitely on the upswing,” Dravilas said. “I think we’ll really see that become apparent next spring when the housing activity traditionally peaks for the year.”