Do the right thing: How to keep the family business alive

5 lessons this broker has learned while taking over for dad and passing the tradition on
  • If you do the right things for the right reasons, success will follow.
  • Don’t be afraid to take risks when they’re strategic and have big potential.
  • Create a company culture that allows agents to focus on the most important things: working with sellers, working with buyers and prospecting for each.

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

I learned all I know about real estate from my dad. And his lesson was very simple: If you do the right things for the right reasons, success will follow. That was 38 years ago, when social media was meeting people in church -- but it has proved timeless. I worked alongside my dad for 12 years, and when he passed away in 1990, I was proud to take the helm. My first challenge as the owner of the company was to decide how to recruit a cultural fit for the firm and teach our new agents the knowledge I received from my father. In just six months, we had grown both in agent count and productivity. What have I learned from this ongoing journey? More than I could have imagined, but here are a handful of the most imperative insights and advice that I hope will ring true for your businesses as well as you work to grow and bring in the new generation of real estate agents. 1. Evolve with the consumer We’re constantly reinventing the company to align with the ever-evolving co...