There is a leadership vacuum at the top of a number of significant property industry companies.
In this first part of a two-part piece, Russell Quirk rates the upsides and downsides for anyone thinking of applying.
This of course is Russell’s personal opinion and may not reflect the views of Property Industry Eye.
As you read this the UK’s finest head-hunters are scouring every nook and cranny of Linkedin for the best of the best. For candidates that, at least on paper, can fill the top jobs at some of the property industry’s leading companies.
This is no easy task even at normal times but especially now in a Covid ravaged world where uncertainty and gloom prevail, and many executives will prefer the comfort of staying where they are for a while as risks elsewhere have become somewhat maximised.
But it’s particularly tough for the property bounty-hunters currently because there’s an abundance of vacancies and seemingly scant bodies to fulfil them.
There have been some leadership positions vacated and actually filled of late such as Ian Crabb exiting LSL and being replaced by David Stewart (not the Eurythmics one); and Ian Wilson (not the Sad Café one) leaving TPFG with Gareth Samples taking the reins.
But otherwise has there ever before been such a vacuum at the top of our industry?
Perhaps potential leaders are scared of what might await them, daunted by the task of running organisations that are already troubled and that come with significant legacy issues not least, perhaps, senior shareholders and chairmen that inexplicably prefer business as usual as a model, in spite of such complacency being proven to be the wrong path.
Or is it, as I think is more likely, that the hirers are looking in the wrong place?
I count seven significant vacancies in our industry currently. When I say ‘significant’ I mean six plus one altogether less meaningful one that I’ve thrown in because it’s intriguing.
And they are:
- Fine & Country
- ARLA Propertymark
- Reapit
- Countrywide
- OnTheMarket
- YOPA
- Rummage4 (the plus one)
So, let’s score each opportunity for desirability.
Fine and Country – CEO vacancy since May 2020 – Has ripped a leaf straight out of the Keller Williams playbook under the stewardship of Nicky Stevenson, MD, having learned the ropes at KW.
As Jon Cook steps into the interim CEO role whilst the search for the new boss continues, this, I say, is a plum job. Why? Because the brand is strong and it knows its target market – the top end.
And, importantly, because they’ve already chosen to innovate with a mix of branch offices and self-employed associates, having recognised that the estate agency business is changing.
Unlike Countrywide, the F&C top-brass ‘get’ the adage, Adapt or Die. They are, and therefore they won’t.
Upside – Huge potential. Downside – Do they really understand the self-employed model well enough? Score: 8/10
ARLA PropertyMark – CEO vacancy since July 2020 – the surprising thing here is not so much the unexplained exit of David Cox, a man well liked and well suited to the role, nor word that he was ‘not permitted’ to apply for the joint NAEA/ARLA PropertyMark position – but rather the revelation that the powers that be are seeking someone from outside of the industry.
More about that shortly as the point of this piece.
Upside – one of the most powerful jobs in property (in theory). Downside – no experience necessary. Score 8/10.
Reapit – CEO vacancy since July 2020 – Gary Barker, tempted by the forbidden fruit of the Bruce Brothers and their new charm offensive, is now Boomin. Whatever that is.
In my view having built CRM technology myself, whilst Reapit is the market leader in agency software, its product is as clunky as a Cortina door on an icy day.
Let’s hope that Gary’s successor will drag it into the 21st century and rebuild the user experience so that it’s more Boeing 777 than Wright Brothers bi-plane.
Upside – Traction. Downside – A mountain of legacy tech-issues. Score 7/10
Tomorrow, in Part 2, Russell looks at the remaining four companies and explains why they will make a big mistake if they seek “a smart, MBA holding, public school type with senior experience at a financial institution, a PLC or a Big Four accountancy firm or a Bain or McKinsey high-flyer. A clever-clogs. A spreadsheet junkie. A big brain.”
Russell Quirk founded emoov, is PropergandaPR co-founder, and a director of Keller Williams (Essex).
If F&C adopt any of the KW playbook, they’re doomed. I believe they have more sense.
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Why only two parts? With wisdom like this, why not 12? What about one letter every day and we beg for it?
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“they will make a big mistake if they seek “a smart, MBA holding, public school type with senior experience at a financial institution, a PLC or a Big Four accountancy firm or a Bain or McKinsey high-flyer. A clever-clogs. A spreadsheet junkie. A big brain.”
Sounds like Russell is about to put his CV in for some of those vacancies. 😉
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The ego has landed.
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Whats the salary Robert? Hit me up 😉
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The “business as usual“ firms are outperforming the creative disturber models by a wide margin. Some of these disturbers have gone to the wall in explosive style, no names mentioned of course, with most declaring eye watering losses.
The author believes it’s the other way around?
It’s a fair point to make that some of the big firms can’t attract the right talent.
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Safe to say that Quirky Quirkster remains secure in a high security secret location and both the public & our profession can sleep soundly knowing that he won’t be allowed out, nor near any of these vacant positions
Quirkster is indeed “Pretty Vacant”
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London’s Calling
Should I Stay or Should I Go
The question is will Headphones be able to continue with his newly appointed role of EYE corrspondent if he answers the call of the Headhunters
Scroll back to June 2018 and this is what our industry hero said
“Countrywide could be great again and I want it to be. But it’s an experienced horse in an automobile world and now it needs a car. And a driver.
I’ll be waiting by the ‘phone…”
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Interesting I could easily do any of these seven positions, and that is why there is the problem, talented individuals keep away from boardroom politics and wasted time in meetings, I am more your Dominic Cummings, and apart from visiting castles I just apply common sense, formulate strategies and utilise 35 years of experience.
All of these positions require a person who straddles real estate all verticals and proptech all verticals and has insight and knowledge of both, and can see far into the future. Instead a ‘safe pair of hands’ will fill each position, what they need is Andrew Stanton, whispering strategy into that person’s ear, so a Boris & Dom double act, not a Cannon & Ball double act.
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Can someone let Andrew know his PIE account has been hacked? No-one could actually write such self-aggrandising tosh, surely?
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DV,
Sorry my friend but you are totally incorrect in such a wildly inaccurate assumption.
I have to say though that on this occasion he has stunned even me and I am not usually surprised by him.
The boy is so up his own a–e it is astonishing. Nonetheless, even I am amazed as what you so correctly call self aggrandising tosh although I can think of other words instead of tosh one beginning with S and the other with a B
If he could do it he would have applied and be running a successful business now not constantly trying to sell his company on various industry forums.
Anyone can look in from the outside and they they can do anything. I have many times thought I should be manager of Spurs and could have scored goals that other players have missed. The reality is of course totally different. Most of us have the capacity for humility and do not give it the big one all the time.
That post was truly incredible. Astonishing. Laughable.
.
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“Andrew Stanton Proptech Real Estate Strategist” are you listening to yourself? Did you actually sit down write such self-aggrandising guff as “Interesting I could easily do any of these seven positions” and “what they need is Andrew Stanton” and mean it? Is there no thread on this website that doesn’t deserve a smug comment from “Andrew Stanton Proptech Real Estate Strategist” – What happened to “Influencer”, by the way?
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Stanton vs Quirk; the battle of the egos. Who wins, nobody knows!
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maybe we should take bets?
Sadly you are incorrect – he does belive it.
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