716 Realty Group

What 716 Realty Group does

716 Realty Group (legally 716 Realty Group WNY) is a privately held, founder-led residential and commercial real estate brokerage headquartered at 1382 Hertel Avenue, Buffalo, NY. Founded by Gregory Straus and operating since at least 2017, the firm serves home buyers, sellers, and investors across Western New York — including Erie, Niagara, and surrounding counties such as Amherst, Clarence, Grand Island, Hamburg, North Tonawanda, Orchard Park, and Tonawanda — and has extended into the Finger Lakes Region and Ellicottville. Its core offering spans traditional brokerage (buyer and seller representation), in-house financing, and, since the November 2022 acquisition and rebrand of Local Enterprises WNY into 716 Vacation Rentals LLC, short-term and seasonal rental property management.

The business runs on a standard brokerage technology stack: a public website with map and gallery IDX search pulling listings from the MLS (NYSAMLS), lead-capture landing pages (home valuation, cash offer, seller guide), and BoomTown CRM for agent workflows and consumer privacy/compliance handling. Distribution is direct agent-to-client supplemented by content marketing (community guides, blog, video) and social sharing on Pinterest, Facebook, and similar channels. There is no proprietary technology, app, or API surface; all listed properties and tools are delivered through the website and third-party platforms.

716 Realty Group generates revenue primarily through real estate commissions on transactions, with commission rates not publicly disclosed. The pricing surface is the per-listing property market itself, with active MLS listings ranging roughly from $19,999 to $3,999,000. Revenue is complemented by ancillary fees from financing referrals and vacation rental management. The firm has no disclosed outside funding, operates as a small team (11-50 employees), and has pursued a modest roll-up strategy, acquiring Black Willow Real Estate in January 2022 and Local Enterprises WNY in November 2022 to broaden agent capacity and enter the short-term rental vertical.

Name

716 Realty Group

Legal name

716 Realty Group WNY

Website

https://716realtygroup.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

716 Realty Group is a privately held, founder-led real estate brokerage headquartered in Buffalo, NY, serving residential and commercial buyers, sellers, and investors across Western New York and the Finger Lakes, with added financing and short-term rental management services.

Ownership category

akta.pro rank

Product category

Real Estate Brokerage

NAICS

Offices of Real Estate Agents and Brokers (53121), Residential Property Managers (531311)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Full-Service Vacation Rental Property Management (BPAJAIAA)

Keywords

• Residential real estate brokerage
• Commercial real estate services
• Vacation rental management
• Real estate financing
• Property management services

Headquarters

HQ city

Buffalo

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Real Estate Commissions: The company generates revenue through real estate commissions, typically a percentage of the property sale price, charged to buyers and sellers in Western New York real estate transactions.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

716 Realty Group WNY is a full-service Western New York real estate brokerage that helps clients buy, sell, and finance residential and commercial properties across Erie, Niagara, and surrounding counties. Through its wholly owned subsidiary 716 Vacation Rentals LLC, the company also provides short-term and seasonal rental property management in the Buffalo and Ellicottville markets. Licensed agents guide clients through every step of the transaction using a BoomTown-powered website with IDX property search, mortgage calculators, and home valuation tools.

Product overview

716 Realty Group WNY operates as a full-service real estate brokerage with a primary focus on residential and commercial property transactions in the Western New York region. The company offers property search tools (map and gallery views), mortgage calculators, financing services, and community guides. In November 2022, the company expanded into the short-term rental market through the acquisition and rebrand of Local Enterprises WNY to 716 Vacation Rentals LLC, targeting the vacation rental segment in Buffalo and Ellicottville.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Real Estate Brokerage

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Local Enterprises WNY (acquired and rebranded as 716 Vacation Rentals LLC)coreOthers · 1 November 2022Acquired Buffalo-based property management firm Local Enterprises WNY to support expansion into short-term and seasonal rental markets around Buffalo and Ellicottville, New York. The acquired company was rebranded as 716 Vacation Rentals LLC, enabling the parent company to diversify into the vacation rental management sector.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• Vacasa: Largest full-service vacation rental property manager in North America — the closest direct comparable to 716 Vacation Rentals LLC for full-service short-term rental management in resort markets like Ellicottville.
• MJ Peterson Real Estate: Buffalo-area residential brokerage serving many of the same WNY submarkets (Amherst, Clarence, Williamsville) as 716, with a comparable independent, agent-driven service offering.
• Hunt Real Estate: A long-established residential brokerage headquartered in the Buffalo/Western New York market, directly overlapping 716's core geographic territory and buyer/seller customer base with a similar agent-led model.

Emerging players

• eXp Realty: Cloud-based, agent-centric brokerage model with no physical footprint — relevant comparable to 716's tech-enabled brokerage approach and a competitor for WNY agent recruitment.
• Evolve: Tech-enabled, light-touch vacation rental management company that competes for the same owners of short-term rental properties that 716 Vacation Rentals targets in WNY.

Others

• Zillow: Leading real estate search and listing platform whose IDX/lead-routing product competes with 716's BoomTown/IDX-driven funnel for seller and buyer leads in WNY.

Broad incumbents

• Redfin: Tech-enabled residential brokerage and portal that increasingly competes for WNY consumers via online search and lead-routing — overlapping the consumer-facing portion of 716's business model.
• Berkshire Hathaway HomeServices: National real estate franchise network with established WNY affiliates (e.g., formerly RealtyUSA); competes for WNY listings and sellers with brand-driven marketing at much greater scale.
• Howard Hanna Real Estate Services: Large family-owned brokerage group with significant Western New York operations; competes for the same WNY agents and listings but operates across a much wider multi-state footprint.
• RE/MAX: Globally franchised residential brokerage with strong WNY agent rosters; competes for the same buyer/seller pool with recognized brand recognition but less local specialization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Pinterestpinterest.com/716realtygroup
• Xx.com/716RealtyGroup
• Facebookfacebook.com/716realtygroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 716 Realty Group