Elected to head the National Association of Real Estate Boards at the age of 38, Leonard P. Reaume*, MAI and broker, was the youngest president to serve the Association. A graduate of Assumption College, Ontario, Mr. Reaume pursued a career as an architect for two years while studying real estate law.
Mr. Reaume and his brother, Ulysses G. Reaume, developed more than half of the entire area of East Windsor, Ontario, Canada. As partner of Paterson Brothers Co. and as president of the Reaume Land Company and the Grosse Pointe Shores Land Company, and as treasurer of the Paterson Van Dyke Realty Company, he was active in the development of Detroit's central business and residential areas.
From 1930 to 1935, Mr. Reaume was affiliated with the Detroit Trust Company in the reorganization of its real estate department.
He became president of Holden & Reaume, Inc., one of the leading brokerage and management organizations in Detroit, which developed the beautiful "River Terrace" apartment house project along the Detroit River front, as well as other apartment house projects. Mr. Reaume was advisor to the Henry Ford Foundation in the development of its housing project known as Springwells Park. The firm of Holden & Reaume, Inc. enjoyed an enviable reputation in the appraisal, industrial, commercial and residential business in Detroit.
Mr. Reaume was president of the Detroit Real Estate Board in 1925, when one of the outstanding conventions of the National Association was held there. He also served as president of the Michigan Real Estate Association.
Under Mr. Reaume's presidency the Association undertook a detailed study of the tax system of every state in the union. Conducted under Simeon D. Leland, professor of economics of the University of Chicago, the study formed the basis for recommendations for radical effective real estate tax relief and led to a nationwide Property Owners Division to widen tax action.
During 1957-1959 Mr. Reaume served as president of the International Real Estate Federation (FIABCI).
Source: Presidents of the National Association of REALTORS®, (Chicago: NAR, 1980).
*Deceased