Experiencing the Real Estate Master's Event

The Masters golf tournament held each year in early April is, without doubt, the premier golfing event of the year. Its legacy and traditions in many ways define the very game of golf.

The American residential real estate industry also sponsors a defining "Masters" level event. It is known as the "Gathering of Eagles" (sometimes just the "Gathering"). The responsibility for hosting this event belongs to the now 29-year-old Real Trends organization that hosted the 2015 edition of the Gathering of Eagles event in mid April at the Four Seasons Hotel in Denver.

Over the past few years, the rate of change and transition within the American residential real estate industry has been nothing short of historic. Virtually every element of the industry, the marketplace, its demographic and its transaction has been or is being recast and repositioned. Accordingly, perhaps more than ever before, the task and challenge of defining the parameters of the contemporary industry through the eyes of the Gathering event approached herculean.

Without question, Steve Murray and his impressive Real Trends cast of thousands (actually just 14 in number) rose to the challenge. The 2015 edition of the Gathering of the Eagles event did indeed provide attendees with a finely tuned and spectacularly accurate portrait of the leading edge of today's industry environment.

The event was launched with a presentation by national award winning Director of Marketing for Coldwell Banker International, Sean Blankenship, who established the fact that defining the industry in 2015 meant taking another look at the configuration of the housing inventory, especially as it relates to the ideas of the "smart" or (for the cool set) the conscious structure. Sean's comments set the stage for a Coldwell Banker produced seminar on that same subject that took place later that day.

The Gathering next delivered an excellent panel on the subject of recruiting competent people to manage the new real estate enterprise. The panel included a number of participants who can take credit for having invented the new brokerage business model: Jeremy Lambert from Your Castle Real Estate, Larry Matos from Century 21 M&M Associates, David Osborn from Keller Williams Realty and Thad Wong from @Properties in Chicago. These are the "young Turks" of today's industry and, in an amazing number of ways, they have redefined the art of recruiting and managing sales associates in a manner that ensures the long-term success of the enterprise.

Much of what this group was sharing had to do with adding substance and strength to the brokerage value proposition. Techniques for adding spirit and viability to the firm in the eyes of its agents were another value point. Issues regarding space allocation were given priority. The panel spent a great deal of time articulating the attributes of a great recruiter, but in the final analysis it seemed to be all about "making the calls" over and over again.

Once again demonstrating his inordinate skill for creating the "big picture," Steve's interview of RE/MAX founder Dave Liniger probed 40 years of innovation, competitiveness and courage to establish the point that some elements of greatness never change. Mr. Liniger's comments and recollections not only provided a connection of relevance between tradition and the leading edge, but also reminded everyone that there aren't many classic pioneers left in the industry culture.

The appearance and presentation of prolific business author and innovator Patrick Lencioni was another of the Gathering's high points. Mr. Lencioni's expertise revolves around the benefits of developing, encouraging and promoting great company cultures. In Patrick's world, company cultures are the foundations of effective value propositions. His comments served to frame the definition and value of the "healthy" company. He prioritized the four disciplines of a healthy organization. He spent considerable time talking about how to create a cohesive management team fueled by trust. If the Gathering provided an opportunity for its participants to think at an MBA level, this was that opportunity. Amazing substance and an impressive learning experience.

The Gathering program next tapped into another asset of leading real estate firms, "Building Great Agent Teams." For many attendees, this panel provided the answer regarding why agent teams are such a "big deal" and how they can contribute to both overall productivity and profitability. Participants included such agent team superstars as Lisa Burridge of Burridge & Associates, Mike McCann of BHHS Fox & Roach and Mark Spain from Keller Williams.

The agent team segment was especially interesting in terms of its point of reference with the brokerage. It established that an agent team does not operate free of management control or influence. The critical point that was made during this program element was that, yes, agent teams can be very effective and can contribute to the overall success, productivity and profitability of the brokerage. However, this is only if they exist and operate under the terms of very clear brokerage policies and practices. If the right agreements are in place, agent teams are in everyone's best interests. This is all about using new management techniques to meet the expectations and needs of all involved.

The Gathering's continuing exploration of the contemporary brokerage business model next explored the role of leadership in the new environment. This panel featured some of the most effective executive leaders in the industry. Sherry Chris from Better Homes and Gardens, Brian Fair from Keller Williams Atlanta Partners, Todd Hetherington from Century 21 New Millennium, and Merle Whitehead from RealtyUSA brought to the Gathering an amazing level of knowledge and experience regarding how to make leadership an effective and differentiating force within the brokerage.

Among the Gathering attendees, there was near universal agreement that leadership is the single most important factor in determining the value of a brokerage. It is similarly agreed that leadership is more than a feeling or an effect. It must be a measurable and focused quality and value. Each of the above experts had developed within their respective companies unique leadership identification, development and integration practices. Each spoke in concise and easy to understand terms how they use leadership applications and practices to move their firms forward. Most have adopted basic leadership qualities from a third party expert such as Patrick Lencioni or John Maxwell.

The appearance of Peyton Manning at this year's Gathering can only be described as a gift. This gentleman is an athlete and is obviously involved in professional sports. But to use either of these points of reference to define him would be foolhardy. Peyton Manning presents himself more like a Fortune 500 CEO than a sports hero. He was articulate and visionary in his comments and observations regarding an impressive range of contemporary leadership environments and issues. Most impressive was how the audience responded to both his presence and his contributions. If one had known absolutely nothing about him from the onset, the initial impression would nevertheless have been overwhelming. On behalf of all of those who were present for this amazing experience, Thanks Steve!

From the Manning appearance, the program morphed into the art-of-the-possible, thanks to the generosity of Coldwell Banker who had imported a panel of young experts to talk about the idea of "conscious" structures (they are no longer called smart houses). This program provided insider knowledge about enhancing one's life and career success with the modern magic of Tesla automobiles, LG appliances, Lutron switches, CNET magazine and Sengled smart lighting switches. Each of these items has the capacity to fundamentally expand the quality of life. Together they demonstrated an ability to create a whole new lifestyle. Imagine this, all of these features can be added without impacting or modifying the actual structure.

For the last morning of the conference, the Real Trends team provided an absolute treat. Scheduled at a time that one would have thought would limit participation, the expanded Real Trends team provided ninety minutes of pure unadulterated knowledge regarding the current state of valuations, mergers and acquisitions. If limited attendance was part of the scheduling strategy, it failed. Even at an early hour, the room filled long before the program started and spilled out into the hallway. Everyone knew that this would be the "Gold of the Gathering." This was the opportunity to share the expertise that has always been at the foundation of Real Trends' power and influence. No one was disappointed and more than just a few would be nursing their sprained hands from note taking. More than just information, this program element was made even more impressive by the cool and professional way in which the Real Trends team delivered their expertise through a complex series of questions and challenges. They were terrific. Steve has created the ultimate team here.

Fact: The real estate industry does support a "Masters" level tournament of knowledge, management skills and productive excellence. It is called the Gathering of Eagles and once again, for 2015, it delivered on its promise to be the premiere industry brokerage event of the year. This impressive achievement left all who participated much more prepared to meet the challenges of the coming year.

To view the original article, visit the RECON Intelligence Services blog.