The History Of Richardson Commercial Realtors

Richardson Realtors opened in 1960 and was founded by Richard S. Plumeri and Steve Stewart. Expansion came quickly and Richardson opened a branch office in East Windsor in 1967. By 1973 Richardson Realtors, located in Hamilton, had close to 40 licensed salespeople, while the East Windsor office had about 15. The company continued to see much growth and expansion throughout the next few years, including the addition of a third branch office in Lawrenceville. During this period the Company did an occasional commercial transaction. Realizing a void in the market place for highly trained and professional commercial associates, Richardson started a new division which became known as Richardson Realtors, Commercial Division.

The commercial division was founded in 1980 and Michael Pratico, Sr. began working for the commercial company in 1983. Throughout the 1980's both companies saw much success. The commercial company had grown to about 15-20 licensed salespeople and the residential company had about 125.

Michael Pratico, Sr. came from a business oriented family. His grandfather owned and operated Nate's Inn restaurant and tavern in Hamilton Township, New Jersey, which was the third liquor license approved after the repeal of prohibition. His father eventually went on his own and became the owner/operator of Pratico's Hilltop Inn in Crosswicks, New Jersey. Mr. Pratico became interested in real estate industry, interestingly enough, at the closing of his father's restaurant. He watched the role that was played by the closing real estate agent and was intrigued. Mr. Pratico pursued real estate by first receiving his New Jersey Real Estate License in 1974. He then began working for a local real estate company and sold residential real estate. Wanting to grow within the real estate industry, Mr. Pratico decided to join Richardson Realtors. He received his broker's license in 1978. After joining Richardson Realtors, he quickly learned that his interest was in commercial real estate.

With the advent of licensure in the appraisal industry, Mr. Pratico also became a licensed appraiser in 1993. In 1997, Mr. Pratico purchased the commercial brokerage along with Richardson Management Group and Lexington Appraisal Group. The addition of the property management and appraisal company helped increase the credibility of new commercial company because the market wanted a full service commercial real estate firm. In 1998 Richard S. Plumeri sold Richardson Realtors to Coldwell Banker Residential, leaving Michael Pratico Sr. to be the sole owner of the remaining companies. Mr. Pratico is a licensed broker and state certified real estate appraiser in both New Jersey and Pennsylvania.

Throughout Richardson Commercial's nearly three-decade history many highly successful salespeople have worked for the firm. A number of them are still with Richardson today. The firm enjoys a wide array of quality corporate and individual clients and looks forward to serving the New Jersey and Pennsylvania commercial real estate markets for many years.

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