Realty Executives and the East TN real estate community mourns the loss of Vance Burkey, a well-known leader and the founder of Realty Executives Associates. Burkey passed away in December of 2024 at the age of 89. Born in 1934, Vance dedicated his life to transforming the real estate industry through strong leadership, mentorship, and an unwavering commitment to the success of his agents.
Vance’s journey in real estate began in a rapidly evolving era, where his entrepreneurial spirit and foresight set him apart. Recognizing the need for a model that empowered agents to thrive independently while maintaining a high standard of service, he established Realty Executives Associates (REA). His groundbreaking approach brought the first 100% real estate commission model to East Tennessee. Prior to affiliating with Realty Executives in 1977, Vance owned Burkey and Associates, an independent real estate firm.
Under his leadership, Realty Executives Associates grew to become a cornerstone of the real estate community, renowned for its culture of professionalism and integrity. In 1979, REA became the #1 firm in East TN under Burkey’s leadership and has since held that position.
Outside of leading his firm, Burkey also developed many recognizable Knoxville buildings, including the Northshore Towers at the corner of Papermill Drive and N Northshore Drive, and the Land Oak office development next to Pellissippi Parkway.
Throughout his career, Vance received numerous accolades, including the Realty Executives International Legacy Award in 2022. He was a proud past-president of the East Tennessee REALTORS association. However, he was most proud of the relationships he built inside and outside of the real estate industry.
“There is so much to say about Vance Burkey,” stated Realty Executives Associates’ CEO, Justin Bailey. “What I will remember most is how Vance made me feel. He made me feel like I was worth spending time with and slowing down for. His leadership style closely mirrored that – he always had time to care for people.”
As we reflect on the legacy of Vance Burkey, we celebrate the incredible work and foundation that Burkey laid for all. His commitment to professionalism and ethics still resonates with so many to this day. Realty Executives Associates remains an industry-leader due to his vision and values, a lasting tribute to a man whose contributions will never be forgotten.
