This week at Mega Agent Camp in Austin, Texas, Gary Keller, the co-founder and govt chairman of Keller Williams, and Andy Florance, the co-founder and CEO of CoStar, had a candid dialog on entrepreneurship and expertise.
Florance, one of many longest-serving CEOs in trendy enterprise historical past, mirrored on his 38.5 years on the helm of CoStar. He recounted the corporate’s early days, combining his ardour for actual property with cutting-edge expertise to create one of the crucial influential platforms within the trade.
“I come from a household, an actual property household,” mentioned Florance. “Mother was an actual property agent for 50 years. My brother has been an actual property agent for 45 years, and my dad’s an architect who was doing residential and business. I acquired my actual property license in my sophomore yr in school.”
The Drive Behind Many years of Management
Regardless of the challenges of main an organization for almost 4 a long time, Florance expressed that his drive comes from innovation and making a tangible distinction within the trade.
“If I didn’t make any cash doing it, I’d nonetheless come again,” mentioned Florance, emphasizing his enduring ardour for creating new merchandise that impression the market.
“Once we create some new type of analytic one thing, or we create a brand new product, and it really works, and it modifications one thing – that’s my ardour,” mentioned Florance.
Embracing Progress and Relationships
Through the dialog, Keller requested Florance what recommendation he would give the greater than 4,700 brokers attending Mega Agent Camp on operating a enterprise.
“By no means keep too snug in what you’re doing and proceed to develop and alter it up,” mentioned Florance. “One of many nice pleasures I get in doing what I do is relationships. I treasure lots of the folks I’ve had an opportunity to work with. Consider all of the faces, all of the folks, and your type of household in a manner … so prioritizing [that] is necessary.”
Co-Starring WITH Brokers
In a refreshingly clear change, Keller requested Florance about a number of the fears relating to CoStar’s long-term objectives. Florance acknowledged others’ fears however acknowledged that its virtually 40-year monitor report of being a bridge between the agent and the patron ought to communicate for itself. Florance went on to extol the worth of that bridge and pledged to proceed to be a lead technology software for actual property brokers, an data supply for patrons and sellers, and a pal to the actual property trade.
“We got here up with CoStar, which is costarring with the agent,” mentioned Florance. “We’ve at all times been a facilitator for the trade, partially as a result of we’re not dumb sufficient to assume we will take the brokers out of the equation.”
Florance acknowledged that their mission has at all times been to be a facilitator fairly than a disruptor.
Florance defined that CoStar’s residential growth, notably with Houses.com, is concentrated on empowering actual property brokers fairly than changing them.
“We’re not a lead diversion website,” mentioned Florance. “Our main focus is creating advertising and marketing publicity for the properties, giving the brokers a leg up when pitching and itemizing properties to assist them differentiate themselves.”
Through the interview, Florance highlighted Keller Williams® brokers’ presence on Houses.com, noting that Keller Williams® brokers have generated outstanding engagement on the platform. Between March and July 2024, Keller Williams® brokers appeared 45 billion occasions in search outcomes. Florance praised Keller Williams for being the largest adopter of Houses.com.
