Because of his success in his family’s real estate business, Pat Riley was recruited to join Allen Tate Companies, a residential real estate brokerage, in 1992. As president and CEO, he has overseen its acquisitions of more than 30 family-owned real estate companies, which has helped Allen Tate become the No. 1 real estate firm in the Carolinas in terms of closed transaction sides. Riley expanded the Allen Tate Companies’ offerings to include relocation, mortgage, insurance, builder and master title services.
Riley was one of the 10 founding members of Leading Real Estate Companies of the World® (LeadingRE). He served as chairman of the LeadingRE board of directors from 2015 to 2017 and holds a permanent board seat. In the wake of the recession, he urged colleagues to pursue a joint venture with other independent companies instead of “selling out” to Wall Street.
In 2018, Allen Tate and Howard Hanna Real Estate Services joined forces to form the No. 1 privately owned real estate company in the U.S. Riley attributes the venture’s success to careful listening, motivation and trust by both parties. Since then, Allen Tate has acquired two independent North Carolina real estate companies and is looking forward to future acquisitions.
Riley is recognized as a visionary leader in the real estate industry. “I am driven by passion for the independent broker and the local brand with international connections; that is the best of both worlds,” he says. “Remaining fiercely independent is so personally important to me. To keep that dream in place, I tell the world there is an alternative to capital markets.”