The real estate industry, especially in Vancouver, is a noisy one. There’s big money to be both made and lost, and everybody has a different idea on how to do it.
And in and industry that’s rated somewhere near used car sales and insurance for trustworthiness, rising above the pack takes something extra.
Patrick Francey is the CEO and Managing Partner of the Real Estate Investment Network, and has his own take on what leadership looks like.
“I think that part of being a good leader is the study of leadership. [It’s] to look at what it means to be a leader and how you show up. Being aware and mindful and intentional of how you show up and what you bring to the team that you’re working with, or to, in my case, the community and to the public.”
Focusing on people more than profits
Part of that, he says, is instilling a culture within his business that relies on hard data, but measures success in more human terms.
“You know certainly over the years what I’ve come to realize for me is that it isn’t about money. I guess money is one of the ways that we keep score, and it’s an important part of what we want to do… What we love about REIN is that we actually get to make a difference in people’s lives. So this member lost his wife, he had three children. And after he lost his wife he realized that these three young children needed to be looked after…”
“… And it was because of the work that he had done and applying the strategies that we taught, he had built a real estate portfolio. He was able to actually sell a couple of his properties, and for 18 months did nothing but stay at home and adjust and look after his kids.”
Working to regain trust
Realtors have been the focus of scrutiny following a year of headlines on dubious practices.
But a few voices have emerged, calling for the entire industry work harder to regain trust.
Voices like that of realtor Keith Roy.
“Our elected leadership, our collective decision making needs to represent the highest and utmost integrity, and ensure that happens for consumer protection. So that when the bad things do happen, they’re not as bad as they’ve been this year. So every realtor day in day out needs to conduct themselves with the utmost integrity, and the system needs to be structured in a way that prevents the bad behavior from continuing.”
And if the industry as a whole wants to be known for leadership, Vancouverites will need to feel like real estate pros are working for them.
“Real estate is a relationship game, right? You have a very strong relationship with whoever you choose, or buy, or sell a house with. They’re invited into your life at arguably its most stressful time, I mean, moving isn’t something people do for fun. So the relationship that happens between a consumer and their realtor is of the utmost importance.”
At the end of the day, the pros at the top are going to be the ones who understand the following sentiment.
“Relationships are everything to being successful. You know, none of us do it alone. And when we go back to the topic or we get really dialed in around leadership, leadership is about the relationships you create. And surrounding yourself with people of like mind, that share common values.”
And that may be all it takes to start cutting through the noise.