PHOTO: John McGrath founded his real estate empire with one agency in Sydney’s east in 1988. AAP: Dan Himbrechts

Major upheaval is underway at real estate agency McGrath, with its chief executive, chairman and all the board members except its founder set to step down.

Founder John McGrath will take back the reigns of the business after previously standing down as chief executive in August 2016.

Chief executive Cameron Judson and company secretary Morgan Sloper will exit, with Mr McGrath to become interim executive chairman.