Rare Earth (re) based intermetallics are a fascinating class of inorganic compounds due to the presence of highly localized f‐electrons. Among the ternary intermetallics, RETX3 (RE – Rare Earth, T – Transition metals, X – 13–15th elements of the main groups) is one of the most widely studied RE‐based intermetallic families in terms of diverse crystal structures as well as physical properties. This perspective presents a brief account of different structural variations observed in this family of compounds. We have also discussed structure‐property correlations in selected compounds in this series that show interesting physical properties such as spin‐glass behavior, superconductivity, heavy fermion behavior, Kondo behavior, etc. The origin of different physical properties of these compounds is also discussed in brief by correlating their crystal structures.