In real estate, adaptability is the key to longevity, the president of Rego Sotheby’s said last night, as the firm marked 75 years in business.

“It’s impossible to predict what will happen five years from now with how quickly the industry moves,” Buddy Rego said. “Our challenge and responsibility is to keep on the forefront of whatever change is upon us with an emphasis on technology and best practices.”

Mr Rego’s father, the late Benny Rego, started the business as the Rego Agency in 1949 with four employees and agents.

His son remembered his tenacity: “He created opportunities for people to own real estate who otherwise thought it impossible,” he said.

The senior Mr Rego was behind numerous condominium complexes and communities, including Forest Hills in Warwick; Beverly Hills in St David’s; and one of Bermuda’s first condominium developments, Cloverdale in Smith’s.

He pulled land together to sell to American tanker billionaire Daniel K Ludwig in 1959. Mr Ludwig built the Southampton Princess Hotel on the property in 1972.

Buddy Rego bought the business from his father in 1983 and set about expanding it.

“It was an exciting time, as a young person in Bermuda, to make a difference in the competitive real estate industry,” he said. “In more recent decades, we have advanced through providing valuations, commercial real estate and diversification of people and services.”

In 2006, Rego joined Sotheby’s International Realty’s global network.

Penny MacIntyre joined as a partner eight years later.

“Bermuda is unlike any place in the world to do real estate,” she said. “Navigating real estate opportunities requires access to information and market conditions not easily visible here. Our team’s commanding direct market share, data-driven analytics and entrepreneurial drive are the key economic resources the private sector, our business community, government, local and international interests rely upon.”