Keller Williams Realty is the ideal example of a company on the road from good to great. Gary Keller, the founder of Keller Williams and the chairman of the board, has played a great role in the companies growth into "the fastest growing real estate company in the United States , with sales and commissions growth topping 700% since 1995."

As the company's figurehead, Keller has revolutionized the real estate business model, bringing to the table new ways of educating and compensating agents in order to create a more stable culture within the company. By focusing his attention on the success of the company with programs such as KWU (Keller Williams University) and profits sharing up to seven levels down, Keller has displayed his role as a Level 5 Leader. When Keller saw the knowledge levels of agents in other realty companies, he took a proactive step and created a university through which all Keller Williams agents are prepared to do the work for which they had been hired. Therefore, retention is high and more homes are sold by Keller Williams agents.

His efforts are not channeled towards his own ego, but instead to the good of the company. His professional will is clearly unbeatable, with his company growing so quickly and the happiness of the employees, he is working hard for Keller Williams rather for himself. This emphasis on the company rather than his personal ego displays Keller's personal humility. A fun-loving family man, Keller is a Level 5 Leader because of his ability to lead without imposing too harshly on the company and its employees. Instead, Keller comes up with novel ideas and implements them throughout the vast company. When something goes awry, Keller does not blame to others, but instead looks in the mirror and apportions responsibility and from this, makes ingenious decisions about how to solve the problem.

Driving through suburbs across America, the name Keller Williams Realty can be seen splashed across the front lawns of hundreds of thousands of homes. In fifteen years, Gary Keller has created a real estate company unique from any before it, and with its continuing goals of "To build careers worth having, businesses worth owning and lives worth living," and a Level 5 Leader such as Gary Keller making sure these goals are met, success will be found for many more years for Keller Williams Realty.

My "Ideal" CEO

Leadership in any organization is vital to it's success, and this is no different for the Real Estate industry. If I were to work for real estate organization, the CEO's mentality would surely shape my work habits, view of the organization, and perception of the industry as a whole.

In order to get the most from my work, my leader must inspire me to work for the organization by instilling its values in my everyday work ethic. An environment of "extreme employees" would not fair well to my work, instead it would be intimidating and exhausting. Instead, the CEO would encourage autonomy and creativity in my work, allowing me to work extra hours as needed, yet not requiring an extremely demanding schedule as shown in extreme employee environments.

My ideal CEO would be a firm leader, but not to the point of negativity towards employees. Employees would be rewarded for their hard work, negotiation, and beneficial work for the company, yet minor mistakes would not heed harsh punishments. He or she would have excellent negotiation skills yet be able to connect with employees on a deeper level with high emotional intelligence and be able to gauge how to deal with each employee based on previous interaction. Most importantly, the CEO would ensure that his or her employees were all working towards the same goals and ideals in order to better the company as a whole and create a more cohesive workplace. While I would be working towards this common goal, my ideal CEO would still be able to see how I could best benefit the company by understanding all of my identities, skills, and knowledge.

Due to the fact that there are many different departments in any large real estate organization (i.e. Sales, PR, Legal, etc.) the CEO would have to be knowledgeable about each aspect of the company and stay informed as these aspects are constantly changing and issues arise in every department. This knowledge would make me feel much more comfortable about the leadership in place. Lastly, the CEO would have to understand the world of real estate and ingrain his or herself into the culture, something which is difficult to do but makes all the difference in an effective leader.

The Durst Organization

One Bryant Park (Bank of America Tower)


Although the name Trump is usually the first to come up when speaking about Manhattan real estate, the Durst Organization has created an empire just as impressive as Trump and has remained one of the most prominent New York City Development firms since its founding in 1916. Durst is a highly respected firm due to its treatment of clients, professional nature, and trustworthy business practices. Little has changed in the organization concerning its mission and goal, as the organization has been passed down three generations of Durst family members. Today, the CEO and President is Douglas Durst, a quiet and reserved yet powerful man who has many connections in the real estate, economic, and political arenas.

As an employee of the Durst Organization this past summer, I was able to see the inner workings of the company. From this first hand experience, I learned a great deal about the company and saw the great impact which they have in the Manhattan real estate world on a daily basis. From making important deals with Mayor Bloomberg to setting records for the most expensive office space in Manhattan, the Durst Organization is a growing entity which shows no sign of slowing down.

After completing their biggest feat yet, the construction of 4 Times Square, home to Conde Nast Publishing and on the most desirable block of property in all of Manhattan, the organization began a joint venture with the Bank of America to create the Bank of America Tower. Both of these buildings are "Green Buildings," reflecting the dedication of the Durst Organization to "build green" by using recycled materials and "incorporating innovative, high-performance environmental technologies to promote the health and productivity of tenants, reduce waste and assure environmental sustainability." This commitment shows how the organization is moving into the new century with ease and can be labeled a "learning organization."

The Durst Organization assumed their initial power from the acquisition and development of land. As time passed, they began to form important relationships with public officials (i.e. NYC Mayors), the entertainment industry (i.e. Conde Nast), and other Real Estate Firms (i.e. Newmark). The military and political archetypes can be seen in these two aspects of the organization in that they find power in the relationships they form as well as the land which they acquire. In the present day, the success of the company lies more in the purchasing of existing buildings in order for demolition and new development to be possible. Therefore, the economic archetype is a dominant force in their business today.

An evolution in leadership style can be seen in the Durst Organization since its formation in the early 1900s. Most importantly, the organization has taken the culture and inserted it into their own goals and execution of their mission, the perfect example being the Bank of America tower in response to the great amount of pollution due to over development and overuse of economic resources in our world today.

Introduction

I would like to welcome you to my blog for the HOD 2700 Course in Leadership Theory and Practice. Instead of viewing this blog as a class assignment, I look at it as an opportunity to learn more about a field in which I am interested: Real Estate Development. In today's world, the world is constantly growing as homes, skyscrapers, and malls cover our once barren earth. The development of our American civilization is physically manifested in our skylines, strip malls, and developments of houses. The development itself as well as its detrimental effects on our society including consumption of resources and pollution interest me as well. The field sparks great interest in me and I am therefore writing this blog in order to develop a greater understanding for it.