Where We Grow From Here
[caption id="attachment_2539" align="alignleft" width="150"] Stephen Meyers CEO, Nancy Seaman Chairman, Chris Meyers, COO[/caption]
Houlihan Lawrence held a company-wide Networking Breakfast at the Westchester Marriott in Tarrytown June 14th. The theme of the event was "Where We Grow from Here". The opening speaker, Houlihan Lawrence Chairman Nancy Seaman, spoke about the current market dominance of Houlihan Lawrence. After quoting a list of statistics showing impressive market share growth, Nancy pointed out that it was the incredible group of agents at Houlihan Lawrence that drove the growth. Nancy went on to thank the agents and told them we could not have achieved such dominant market share without their hard work and professionalism.
Repositioning for growth in the "new normal."
Stephen Meyers, CEO, followed up by asking the question, How do we reposition ourselves for growth in the new normal? Stephen charted Houlihan Lawrence’ s growth year by year, encapsulating the company’s tremendous foresight and vision the past two decades. In 1990, Houlihan Lawrence had 15 offices and 300 agents with 13% market share in Westchester and Putnam counties. In a mere 20 years, Houlihan Lawrence has transformed itself into the market leader with 25 offices in Westchester, Dutchess, and Putnam counties, 1000 agents and 33% market share. As the market leader, Houlihan Lawrence also holds an impressive 21% market share lead over the #2 broker in the area.
The Mark of a Great Brand
Chris Meyers, COO, spoke about the Houlihan Lawrence brand and its power to distinguish itself from other real estate firms. It is Houlihan Lawrence’s commitment to its core values -
[caption id="attachment_2552" align="alignleft" width="150"] Great brands constantly push the limits, introduce new ideas, and stir the pot of consumer imagination.[/caption]
excellence, integrity, passion and community – that are the foundation of the Houlihan Lawrence brand. These values manifest themselves in a network of professionals who are trusted real estate advisers, expertly guiding buyers and owners through the emotional, financial and sometime traumatic process of buying and selling real estate. At its core, real estate is a relationship business and Houlihan Lawrence agents consistently navigate a positive real estate experience for their clients.
Using Social Media to Build Brand Awareness
Liz Nunan, Vice President of Global Business Development, spoke about "Why Brands Now Use Social Media to Build Brand Awareness, Connect with Consumers and Grow Globally". Liz showed that home buyer demographics closely match the demographics for Facebook users and described how Facebook can be used to promote your brand and help build your reputation. L iz's traditional marketing methods such as direct mail and one-on-one meetings have been largely replaced with the Social Media tools at her disposal. As a result, her networking capabilities have have greatly expanded and she now "dominates" the google search of her name.
Luxury Market Overview
Anthony Cutugno, Sr. Vice President gave an overview of the luxury market, and how his division, Luxury Country Properties, is faring as the very concept of luxury is being redefined. Conspicuous consumption has been replaced with homes that embody quality, craftsmanship and value, and the meaning of luxury has been altered to align with a buying public that thinks and acts differently than it did just 3 years ago.
Indeed, the luxury market is off significantly from its peak in 2007, but signs of encouragement are on the horizon. Specifically, LCP transacted more deals year-to-date in 2010 than all of 2009. Consistent with our leadership position, Houlihan Lawrence's market share of homes sold over $2 million has actually increased to a phenomenal 53% in 2010 year-to-date. Moreover there are many important homes currently on the market making this an especially bountiful time for the luxury buyer.