dispatches from the new world of work

Real Estate Rules! Eagles Don't Flock!

Biz books tend to predictably focus on the Apples & Microsofts & GEs & Southwests & Wal*Marts ... not the "mundane" world of real estate & real-estate services. Yet the industry is a monster and an economic bellwether of the first order. The 800-pound gorilla, with 100,000 agents, 32-consecutive years of growth and about $400 billion in annual transactions, is RE/MAX. And now there's a highly instructive book on their wildly successful origins & practices: Everybody Wins, by Phil Harkins and Keith Hollihan. Founder Dave Liniger, who upset every apple cart in sight with his contrarian ideas, belongs in the same league as a Sam Walton or Jack Welch, as I see it. I love it when enormous, overlooked (by the "guru establishment") corners of the economy grab the limelight. Big "secret": Hire only the Best ... and kill yourself to find them & support them. It'd be no surprise, except that it remains, still, the exception to the rule. (Contrarian idea, in the age of team mania: "Eagles don't flock.") RE/MAX considers themselves a "Life Success Company" ... not a real estate company—and they act the role brilliantly. I put together a few slides from the book—for your perusal. (And thanks, Acela again, for the live power jacks.)

Tom Peters posted this on 01/14/05.

Comments

Thanks Tom - their business model seems to use many of the principles that you are testament to, like: TALENT, TALENT, TALENT. LOCATION, LOCATION, LOCATION.

Posted by John at January 15, 2005 10:32 AM

I am very intrigued by the book--have purchased it on line and cannot wait to read it. I'm not in real estate, but I have a company that I'd like to implement the Everybody Wins philosophy in.

Posted by Joe Bently at January 16, 2005 12:34 PM

Actually, eagles do flock.

http://www.ecology.com/ecology-news-links/2003/articles/1-2003/1-9-03/eagles.htm">http://www.ecology.com/ecology-news-links/2003/articles/1-2003/1-9-03/eagles.htm

Posted by John at January 16, 2005 4:04 PM

John, ah, another myth shattered--joins the frogs that fail to escape boiling water pile.

Posted by tom peters at January 19, 2005 11:37 PM

Wow! I couldn't put the book down, am now going for my second time through. The RE/MAX story has to be one of the greatest business secrets of our time. How did everyone miss it?

Posted by Mike at January 23, 2005 3:43 PM

What a great book! I love the story of how Dave Liniger was about to quit and then decided to keep going, made his first sale and then never looked back. I also like the concept of pace line leadership. Go Dave! Go Phil! Thanks Tom!

Posted by Jan Weht at January 27, 2005 11:30 PM