{"id":4454,"date":"2023-06-20T19:52:01","date_gmt":"2023-06-20T19:52:01","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2023\/06\/20\/inside-the-ceo-playbooks-at-gathering-of-eagles\/"},"modified":"2025-03-13T02:51:51","modified_gmt":"2025-03-13T02:51:51","slug":"inside-the-ceo-playbooks-at-gathering-of-eagles","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2023\/06\/20\/inside-the-ceo-playbooks-at-gathering-of-eagles\/","title":{"rendered":"Inside the CEO playbooks at Gathering of Eagles"},"content":{"rendered":"\n<p><strong><a href=\"https:\/\/events.realtrends.com\/gathering-of-eagles\/home\" target=\"_blank\" rel=\"noreferrer noopener\">RealTrends Gathering of Eagles<\/a><\/strong> attendees assembled Tuesday morning at the Omni Barton Creek in Austin, Texas to get a glimpse into the playbooks of executives at top real estate brands.<\/p>\n\n\n\n<p>The executives covered it all during the panel, from discussions of strategies for growth from Stephanie Anton, the president of <strong><a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/corcoran-welcomes-bergen-county-based-affiliate\/\" target=\"_blank\" rel=\"noreferrer noopener\">Corcoran Affiliates<\/a><\/strong>, to thoughts on technology from <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/re-max-president-nick-bailey-looks-ahead-to-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">Nick Bailey<\/a>, the president and CEO of <strong><a href=\"https:\/\/preprod.housingwire.com\/tag\/re-max\/\" target=\"_blank\" rel=\"noreferrer noopener\">RE\/MAX<\/a><\/strong>, to navigating the shifting market as an iBuyer with Will Holmes the head of partnerships <strong><a href=\"https:\/\/preprod.housingwire.com\/tag\/opendoor\/\" target=\"_blank\" rel=\"noreferrer noopener\">Opendoor<\/a><\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-ten-lessons-from-a-fast-growing-firm\">Ten lessons from a fast-growing firm<\/h2>\n\n\n\n<p><strong>Corcoran<\/strong> is celebrating its 50<sup>th<\/sup> anniversary in 2023, but the age of the firm has not stopped it from rapidly changing and growing in recent years. In February 2020, Corcoran launched its franchise network, Corcoran Affiliates. Since the launch, Corcoran has expanded its brand from four markets to 45 markets, doubling its agent count.<\/p>\n\n\n\n<p>\u201cIt has been a wild three years,\u201d Anton told attendees.<\/p>\n\n\n\n<p>In the process of launching and expanding the Corcoran Affiliates brand, Anton has identified ten keys to growing quickly.<\/p>\n\n\n\n<p>The first two lessons Anton highlighted for attendees were \u201cknow who you are\u201d and \u201cknow who you aren\u2019t.\u201d<\/p>\n\n\n\n<p>\u201cThe words we use to describe ourselves are authentic and warm, sophisticated, smart, inclusive,\u201d Anton said. \u201cWe don\u2019t use luxury to describe Corcoran as a brand, but we do use it to describe our listings. And we don\u2019t use words like trendy or unapproachable, and certainly not dull, and we train our agents to how to use this language to talk to clients and to talk about the brand.\u201d<\/p>\n\n\n\n<p>When it comes to owning your brand identity and purpose, Anton told attendees that they should be comfortable saying no.<\/p>\n\n\n\n<p>\u201cWe definitely say no more than we say yes, and the reason for that is because if you say yes to everything, then you stand for nothing,\u201d Anton said. \u201cStandards matter, and every compromise you make to your standards is death by a thousand cuts.\u201d<\/p>\n\n\n\n<p>Anton also told attendees to \u201clook for outside inspiration,\u201d \u201ccelebrate the power and joy of finding your people,\u201d and embrace growth as your culture.<\/p>\n\n\n\n<p>\u201cI am very inspired by luxury brands,\u201d Anton said. \u201cBrands like Tesla, Apple, Hermes, Prada \u2014 all these brand have emotional attachments, meaning that it is not about the service or about the products. It is about the intangible things. When you can make an emotional connection to a consumer through your brand, it becomes sticky.\u201d<\/p>\n\n\n\n<p>While Corcoran Affiliates has grown quickly, Anton noted that \u201cchange is hard\u201d and mistakes will happen. Still, it is important to \u201cmove fast and move on\u201d if you hope to recover and continue growing.<\/p>\n\n\n\n<p>But Anton\u2019s biggest piece of advice for brokers and leaders was to \u201calways answer their phone.\u201d<\/p>\n\n\n\n<p>\u201cYou never know who you are going to hear from or if the meeting will change you mind,\u201d Anton said.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Rethinking an in-house tech platform<\/h2>\n\n\n\n<p>In July 2022, <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/re-max-quietly-lays-off-17-of-staff\/\" target=\"_blank\" rel=\"noreferrer noopener\">RE\/MAX shut down <strong>booj<\/strong><\/a><strong>,<\/strong> the CRM and technology platform it <a href=\"https:\/\/news.remax.com\/remax-and-booj\/\" target=\"_blank\" rel=\"noreferrer noopener\">acquired in 2018<\/a> for $45 million. Instead of further building out booj, the firm <a href=\"https:\/\/news.remax.com\/inside-maxtech-powered-by-kvcore-for-remax-affiliates\" target=\"_blank\" rel=\"noreferrer noopener\">announced<\/a> it would be partnering with Inside Real Estate to offer their agents the AI-powered kvCORE platform.<\/p>\n\n\n\n<p>According to Bailey, RE\/MAX and many other brands in the industry believed it was necessary for the firm to own its own technology platform in order to get a competitive advantage by offering its agents a tech platform. But as technology has changed, so has this view.<\/p>\n\n\n\n<p>\u201cIn this industry, we have to realize that in-house tech is expensive,\u201d Bailey said. \u201cNow, we still have some of our acquisitions that are needing to be taken advantage of and integrated into our partner Inside Real Estate. But I believe the only thing moving faster than this market is technology. The one thing that I believe is a foundation is that technology is not going to replace a real estate agent, at least not in my life, but I do believe that an agent that doesn\u2019t embrace tech will be replaced.\u201d<\/p>\n\n\n\n<p>In Bailey\u2019s view, a brokerage that is hesitant to allow other firms to own its data is stifling innovation.<\/p>\n\n\n\n<p>\u201cAccess to the data is not a competitive advantage. How you use data in your business can become a competitive advantage,\u201d Bailey said. \u201cThe idea that withholding data provides a competitive advantage is nonsense.\u201d<\/p>\n\n\n\n<p>Through the process of acquiring and trying to build out booj, Bailey said he realized that sometimes buying or building technology doesn\u2019t provide the biggest competitive advantage.<\/p>\n\n\n\n<p>\u201cWhen you consider in-house tech or out of house tech, I think it is most important to consider what you need to make the brokerage more efficient and easier for the agent and to create a better consumer experience,\u201d Bailey said.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The future of iBuyers<\/h2>\n\n\n\n<p><a href=\"https:\/\/preprod.housingwire.com\/category\/proptech\/\" target=\"_blank\" rel=\"noreferrer noopener\">Proptech firms<\/a> and <a href=\"https:\/\/preprod.housingwire.com\/tag\/ibuying\/\" target=\"_blank\" rel=\"noreferrer noopener\">iBuyers<\/a> have struggled mightily as the <a href=\"https:\/\/preprod.housingwire.com\/housing-market\/\" target=\"_blank\" rel=\"noreferrer noopener\">housing market<\/a> has cooled over the past year. With home prices decreasing in many markets, and <a href=\"https:\/\/preprod.housingwire.com\/articles\/hit-by-double-whammy-proptech-firms-pivot-to-profitability\/\" target=\"_blank\" rel=\"noreferrer noopener\">venture capital funding<\/a> drying up, firms in this space have had to rethink how they operate. <\/p>\n\n\n\n<p>At Opendoor, this resulted in acquiring just 1,747 homes in <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/ibuyers-scale-back-amid-housing-market-uncertainty\/\" target=\"_blank\" rel=\"noreferrer noopener\">Q1 2023<\/a>, an 81% year-over-year decrease, along with two rounds of layoffs between <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/opendoor-cuts-18-of-its-workforce\/\" target=\"_blank\" rel=\"noreferrer noopener\">November 2022<\/a> and <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/opendoor-cuts-22-of-staff-with-a-new-round-of-layoffs\/\" target=\"_blank\" rel=\"noreferrer noopener\">April 2023<\/a>. Still, Holmes is not discouraged by these numbers.<\/p>\n\n\n\n<p>\u201cWe have seen our relationships with the three main important channels \u2014 portals, homebuilders, and agents and brokerages \u2014 grow,\u201d Holmes said. \u201cIn the last three years, we have seen a nine-fold increase in agents doing multiple transactions with us.\u201d<\/p>\n\n\n\n<p>As Opendoor looks to increase brand awareness, Holmes said it is leaning into these partnerships while exploring others in spaces such a lending. <\/p>\n\n\n\n<p>He also echoed Bailey by highlighting how the industry is increasing its acceptance and reliance on technology.<\/p>\n\n\n\n<p>\u201cConsumers are embracing technology,\u201d Holmes said. \u201cThey want various options. I think more and more, consumers are going to feel more comfortable doing things online and having a more convenient, more controlled transaction.\u201d<\/p>\n\n\n\n<p>Due to this, Holmes feels that while Opendoor needs these <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/how-agents-are-embracing-proptech-to-close-deals\/\" target=\"_blank\" rel=\"noreferrer noopener\">partnerships with agents<\/a>, the agents need to partner with firms like Opendoor if they want to stay relevant. And despite a rocky start, Holmes says things are looking up.<\/p>\n\n\n\n<p>\u201cThere was definitely some concern and worry,\u201d Holmes said. \u201cI don\u2019t think we did a great job of introducing ourselves to the industry, and there is still work to be done, but we are now working with thousands of agents and brokers across the country who are using us not only as an option for sellers, but for prospecting and lead generation. I think the relationships with the industry are going to be very crucial for this next period for the company.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gathering of Eagles attendees get a glimpse into Stephanie Anton, Nick Bailey and Will Holmes&#8217; CEO playbooks.<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-4454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Inside the CEO playbooks at Gathering of Eagles<\/title>\n<meta name=\"description\" content=\"Gathering of Eagles attendees get a glimpse into Stephanie Anton, Nick Bailey and Will Holmes&#039; CEO playbooks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/preprod.realtrends.com\/blog\/2023\/06\/20\/inside-the-ceo-playbooks-at-gathering-of-eagles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inside the CEO playbooks at Gathering of Eagles\" \/>\n<meta property=\"og:description\" content=\"Gathering of Eagles attendees get a glimpse into Stephanie Anton, Nick Bailey and Will Holmes&#039; CEO playbooks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/preprod.realtrends.com\/blog\/2023\/06\/20\/inside-the-ceo-playbooks-at-gathering-of-eagles\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - 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