Jerry Reece, 73, is leaving the helm of Reece & Nichols to become chairman emeritus, capping a Kansas City real estate career that stretches back to 1970.
The new CEO of Reece & Nichols will be Linda Vaughan, who has been president of the firm since 2005. Mike Frazier will become chief operating officer along with his current duties as chief financial officer. Chris Kelly will become chief administrative officer and continue as general counsel.
Reece & Nichols dates to the merger in 2002 of J.D. Reece Realtors and J.C. Nichols Residential Real Estate.
Reece was named chief executive of the merged company. It now has 1,900 sales associates in the metropolitan area, making it one of the region’s largest. The firm is owned by Minneapolis-based HomeServices of America, a subsidiary of billionaire Warren Buffett’s Berkshire Hathaway.
Reece began his real estate career in 1970 with Kroh Bros. Realty Co. He bought the residential real estate division in 1987 and renamed it J.D. Reece Realtors.
“I am extremely proud of everyone at Reece & Nichols, and I am excited for this new opportunity and role with the company,” Reece said in a statement Tuesday. “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.”