Michael Pappas: Leading major transition of family-owned Keyes real estate

With a real estate career spanning over 40 years, Michael Pappas now oversees more than 50 branches and 4,000 associates and affiliates as The Keyes Company’s CEO. 

Under his leadership, The Keyes Company generates sales and services in excess of $8 billion annually and is one of the largest independent real estate brokerage firms in the nation.

As a child, he saw first-hand the work ethic of how to be a master in sales through his father Ted Pappas and knew he wanted to follow in his footsteps. Michael Pappas first joined the Keyes as a sales associate in 1980 and has moved up the ranks, holding a variety of positions, including general manager in Coral Springs, Fort Lauderdale and Coral Gables offices, until becoming president in 1991. 

A Wake Forest University graduate in business and Spanish, he also is the head of Capital Partners Mortgage, Home Partners Title, Keyes Insurance and Keyes Property Management. 

He has received numerous honors, including the Young Presidents Organization Legacy Award and the Price Waterhouse “Real Estate Up and Comer of the Year.” As a tech-forward thinker and innovator, Mr. Pappas received the RISMedia Real Estate Tech Titan Award in 2015.

Other notable recognitions include honors from The Miami Association of Realtors, which recognized him as the Industry Leader of the Year back in 2017. He has been twice honored as an RISMedia Real Estate Newsmaker, as a Luminary in 2019 and Influencer in 2021.

Still family-owned, Keyes understands that a local business must be knowledgeable about the wants and needs of its communities and have the ability to turn that knowledge into results for its customers, he said. Keyes combines this understanding as a local business with a breadth of product and service offerings usually reserved for national, corporate firms, to provide a better, more personalized experience for customers and real estate agents and brokers, Mr. Pappas said.

As the real estate industry continues to change in the world of advanced technology and AI, Mr. Pappas said he has implemented work skill initiatives to better train his agents. From comprehensive marketing automation to personalized property data reports and listing syndication across 900 home search sites and global property portals in 30-plus countries, Keyes says it makes sure its agents are in front of consumers wherever and whenever they are searching.

Giving back to the community is also a huge part of the company’s foundation, Mr. Pappas added. Keyes partners and raises about $250,000 annually with the Dolphins Challenge Cancer, Move 4 Hunger, and numerous other organizations. Corporate staff and individual agents give back because it is about more than just real estate, it’s about taking care of people, he said.

This past year, he celebrated and ushered in the fourth generation of Keyes leadership by naming his daughter, Christina Pappas, president of the firm. A long-time industry visionary, influencer and advocate, Mr. Pappas says he sees a bright future for Keyes.

“Only 3% of family-owned companies reach a fourth generation of leadership, with just 12% even reaching a third generation,” Mr. Pappas said, of The Keyes Company, which is turning 98 years old. “With my daughter becoming president of Keyes, this marks a special moment for our family and puts us in a strong position for the future.”

Mr. Pappas spoke with Miami Today reporter Abraham Galvan.

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