Brokerage

New program could help keep brokerages in the Realogy family

Succession planning teaches leadership skills to future broker-owners

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“Imprinting” occurs when a duckling assigns the status of “mom” to the first large moving creature it sees.

Taking a page out of Mother Nature’s book, Realogy has rolled out a program that could produce its own imprinting effect on people who are set to take the reins — often from their parents — of brokerages that are part of Realogy’s franchise family. That includes brands such as Better Homes and Gardens Real Estate, Century 21, ERA, Coldwell Banker and Sotheby’s International Group.

Companies often struggle to implement successful leadership transitions, with only 30 percent of family businesses surviving into a second generation, and only 12 percent persisting into a third, Realogy said, citing a study by The Family Business Institute.

“There are many aspects to succession planning: choosing the right candidate, preparing him or her for leadership, and flawlessly executing the transition,” said Alex Perriello, president and chief executive officer at Realogy Franchise Group, in a statement.

Realogy said its Ascend Executive Leadership Experience helps business owners address those challenges by preparing “tomorrow’s broker/owner” to lead an organization, grasp industry trends and issues, and devise and implement prudent business strategies.

The course runs for 46 weeks, and includes 12 full days of “live facilitation” as three-day quarterly sessions that culminate in a final-presentation case study by each participant.

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The curriculum also includes:

  • A cascading learning process to help develop one’s leadership of “Self, Others and Organizations.”
  • Professional instruction from across Realogy’s brands and the real estate industry.
  • Learning and business insights from some of Realogy’s highest-performing affiliated brokers.
  • Online courses that address more than 35 key leadership topics, including strategic planning, financial analysis and culture.
  • Membership in the Ascend Alumni Association upon graduation that will provide ongoing best practice sharing and interaction with fellow graduates and executive leadership from across the Realogy Franchise Group.

Realogy will begin accepting applications for the program in early November, with classes beginning in April 2015. Realogy’s affiliated business owners can contact their respective brand’s senior leadership team for more information.