Agent's Perspective - Locally Owned Small Business


It is said that small businesses are the backbone of the American economy. However, there are fewer and fewer that are able to survive in today’s world. Terrace Realty and Associates is a privately owned, independent, full-service real estate company that was established in 1958. 
 
The two owners and brokers of the company both started out by working under the two founders of the business. Larry Aikins and Eric Ruxton have spent most of their adult lives building and running the company. 
 
Local, privately owned, independent businesses are becoming fewer and fewer. Locally owned businesses are essential to a vital local economy and community character. 
 
For more than 60 years, Terrace has been listing, selling, exchanging, renting and leasing real estate. Terrace sells a lot of residential properties, but also sells a large amount of investment or income properties.
 
We have been approached many times in the past to affiliate ourselves with national franchising, but we don’t want to give up the independence we have by staying private and locally owned. Franchise owners don’t have the freedom to operate their business independently. 
 
We have a strong reputation for income investment property sales. We make transactions that most other companies don’t. 
 
Terrace owns and manages large amounts of real estate. We understand real estate investors because we are also investors ourselves. Our independence allows us to structure transactions that other brokers simply are not able to do. 
 
We have the freedom from outside control. We have sole proprietary ownership. We have the distinct advantage of being able to change our thinking and act faster than our large competitors. We don’t have corporate rules to follow. We are able to be more creative in meeting the needs and desires of our clients. We are able to develop a more personal relationship with our customers. We don’t have layers and departments; we can make crucial decisions on the spot. 
 
In today’s real estate world, information revolves around the internet. There is really no advantage to using a “big box” real estate company. Everyone has access to the internet and the far-reaching advantage of global information. 
 
Most all firms are members of the National Association of Realtors, and locally the California Association of Realtors, as well as the local Multiple Listing Service. For over 60 years, we have built very strong relationships. We also have funds that are available to our clients to help put transactions together. Most large companies do not have the capability to advance funds when necessary; they would point you to a bank and tell you “good luck.”