In search of . . . Real Estate Talent

 

 

Interior staging for Hewett Grove - a signature listing of The Horswell Collection
(at the time affiliated with WRT) sold in January 2025 in Portland, Oregon's West Hills.

 

As I think about a series of signature events I will attend in Portland and beyond for the balance of the year, there's a reminder that the topic of real estate - especially for the UHNW demographic - is indeed still often the start, beginning, and end of conversations that pepper the landscape at auctions, galas, performance salons, and dinners.  As those discussions ultimately result in a phone call or email from a potential client to the real estate professional, here are some considerations to take under advisement during the "interview" to select representation (especially if a staff member is conducting a pre-interview on your behalf).  Developing a matrix for three professionals with defined answer parameters (i.e. not more than 90 word answers for each question) helps narrow the search for the site visit:

• SPHERE/VITAE: "and you are? . . ."  Ask them to attach their resume and provide a brief description about the reach they have within the potential demographic/s who you believe will purchase this home.  One of the most impactful boutique groups I met years ago was a consortium of brokers across the US formed out of mega-producers who were all either still with Coldwell Banker or had established their own firms.  They'd meet annually in a select city where one of them was located to exchange ideas, assess the market, and discuss strategy.  Now THAT is reach - as all of them have potential buyers.  Company networks were brokers truly are engaged within their branded frameworks are also valid tools that the broker should emphasize.
  
  
• WALKING the TALK:  Upon being invited into your home, listen for cues which indicate an intimate understanding of your environment and how you "lived the house."  Do they have knowledge of your taste in fine art and hobbies without being prompted?
  
  
• CREATIVE: Not everything is a video - and most top-producers will attempt at first blush to put all the marketing eggs in the video basket.  While this is a defined skill set, the videos are often produced more as an example to show future clients rather than to sell the property in question.  The best creative you'll access is from the agent's mind in their descriptives for the home, property, provenance, and location - and not words that are generated by AI/ChatGPT.  In addition, what are their ideas?  The fine art in the photo above for the listing was brokered as a gratis on loan enhancement from a local dealer.
  
  
• TECHNICAL EXCELLENCE: Evaluation of the broker's competence to understand the enhanced detail of the elaborate systems that most homes of note have is critical.  Within - there are all the standard bearers with sometimes additional components of security, water purification, and advanced appliances.  Outside, the broker should at least know how to buzz a guest in from the gate (NOTE: twice I helped brokers I was visiting who did not know something as simple as the default number '9' to open the gate via the phone).  However, being able to explain a complex security monitoring system and assimilating information to aptly demonstrate its value should be evaluated.  Summarily important are any water rights, easements, and the geology/engineering behind construction opportunities for any desired amenities like tennis courts and swimming pools.
  
  
• NEGOTIATION: As a former (and sometimes current) public affairs counsel and lobbyist, it's often relationships that drive my ability to be able to reach consensus on any issue.  Relationships are not built via text messages and emails - but through thoughtful interaction with a cooperating broker.  Understanding the positive relationships that your preferred agent has within the real estate community is a desirable attribute for all parties to achieve success.
  
  
• TRANSACTION STRUCTURE and VENDORS: A real estate agent is a magician in many ways . . . with so many amazing rabbits within their hat to pull out at a moment's notice to find a solution for anything within your wheelhouse.  Lenders are not created equal, nor were escrow officers, inspectors, foundation experts, landscapers, electricians, plumbers, roofers, or anyone else potentially involved in a transaction.  While I am the unusual case who has been part of the mortgage and escrow/title spheres before becoming licensed in real estate, there are certain markers a broker must understand with both financing and the closing table that are essential to the transaction (one seasoned broker I once knew had to do a delicate last-minute dance because of the lack of knowledge about FIRPTA regulation and the seller).

If you'd like a matrix to test with your broker interview - please feel free to call or email.  Or . . . you can always see how (as my old friend Bettina would say) I measure up during the process for yourself! 

Wealth Transfer, Service Providers, and the UHNW Individual and Family

We've seen some interesting shifts with the advent of between $84 trillion to $124 trillion in wealth transfer from the current 510,810 (2025 mid-year) UHNW individuals predicted by 2045-2048. As imagined, learning from those primarily affected - the next generation - is a critical part of closing the circle in effective representation and preserving relationships.

Maeen Shaban, Director of Research & Analytics at Altrata/Wealth-X recently noted in an email to me on how to entities are handling this transfer: "Earlier engagement appears to be helping strengthen continuity across generations, particularly where advisers are proactive in adapting their approach to the priorities and expectations of younger family members."

Nothing couldn't be more true than this statement . . . whenever possible, nurturing the talent and understanding the interests of heirs is as important as providing training for certain benchmarks in what lies ahead as they navigate new responsibilities with increased personal wealth.

• START EARLY: Due to the way it was presented to me, reviewing annual reports (can we say Disney!), discussions with investment advisors about decisions, and financial accounting were part of my life from the age of 5. Making learning into some form of gamification is an early opportunity to gauge aptitude and understanding while laying the foundation for future success.
• CONTINUED EDUCATION: Sensing an interest in property and estate planning legal agreements from assistance I had provided, my mother asked me to join her as co-trustee of a family entity when I was 21. During that time, she created relationships for me with our attorneys and accountants - allowing latitude to redirect if necessary - and I was able to market and sell (by owner with her advisory) several homes and business properties - one being a major property in one of Portland's finest neighborhoods. Showing incremental trust in the next generation is impactful for building self-confidence.
• SHARED DECISIONS: While not optimal in some environments, all major financial decisions were always shared openly and opinion was invited to the discussion. "What do you think?" is a remarkable question of validation to hear from a parent or guardian for any decision that will ultimately affect the heir. When my grandmother and father were alive, our committee was a voting block of four equal parts which was a way to understand intent and offer input.  As generational responsibility shifts, family interests align and new priorities are understood and welcomed with transparent operating procedures.

What may be important to one set of individuals may not have the same value to another - and training and development helps manage expectations while respecting an indvidual's own life path.  Barring special circumstances (underage; mental or health vulnerabilities, etc), a transfer that begins with childhood assessment and is fostered throughout life can be valuable to all parties.

REGENCY's Winter / Spring 2026 Issue

 

 

Please enjoy the latest issue of REGENCY Magazine, the publication that I concept, write, design, and publish for the UHNW Demographic on a biannual basis - celebrating it's 3rd Anniversary with this issue!  This issue takes us from Martha's Vineyard to London to Hong Kong and of course - my hometown - Portland, Oregon.  Enjoy! 

LUXURY - the passé word and its future . . .

 

You know it's the wrong descriptive when
EVERYTHING is LUXURY

This brazen sign on NE Sandy Blvd in Portland, Oregon is all anyone familiar with notable brands of sophisticated taste needs to know about the word as stands today: overused, misappropriated, and entirely void of meaning.  Those who know its true meaning are also aware that something that was once a cherished term of endearment for a personalized uncommon rarity no longer resonates with their sensibility.

In the next calendar year, let's collectively find a new way to capture the essence of what Hutton Wilkinson described as, "something that is made specifically for you," really means.  In REGENCY, we've banned usage of "luxury" out of respect for anything it once symbolized.  How will you do your part to re-imagine how this "state of being" can be described?  May we suggest a little . . . "Amenance?"

Divorce or Reconcile? Gucci's Path into the Briar Patch

Flee, or Work on it?

Aldo Gucci would be doing cartwheels down Las Vegas Boulevard if the late fashion scion were alive today.  Why?  Because of the avenue is bedazzled with the golden backlit glow behind that gorgeous capitalized Garamondesque “GUCCI” lettering that adorns its five stores along the short 2.2 mile distance between the Fontainebleau and the Cosmopolitan properties in the City of Sin.

Aldo was a phenomenal case study in pandering to the fully-uddered new sensibility of maximum indulgence with everything from water bottle holders to cursory items of the household.  His contemporaries in the current brand scenario have gone a step further to milk the consumer by introducing such things as logoed luggage stickers for $80.

By saturating the marketplace with so many stores holding a smattering of irrelevant tchotchkes (despite the number of newly-enriched available customers flush with casino winnings), notable brands like Gucci have thumbed their nose at the true definition of “luxury” (also known as “amenance” as the alternative to the overused term that has lost all meaning).  Turning over any brand of note into the wrong hands – whether it be a cherished private club, restaurant, hotel/private condo residences, or corporate enterprise – will garner similar slippage in prestige.  And sadly enough, it happens under our collective eyes all the time and without much warning and reputation is compromised in perpetuity.

While it is true that Dawn Mello and Tom Ford were able to salvage the brand from becoming the duty-free choice du jour for a good run of success (1989 to circa 2000), the string of so-called creative directors had degenderized and fumbled with the company’s unmistakable ethos of pure sophistication after its Renaissance period that peaked a couple of years before Ford’s departure in 2004.  Coupled with endorsements by celebrities festooned in bright head-to-toe interlocking G’s ensembles, the company has punted a world-class brand foul making true Gucciites wonder, “Did I take a wrong turn somewhere?”

The answer, “yes, you did!”  In the case of that stretch of Las Vegas Boulevard, you forfeited your right to explore the true essence of luxury the moment you entered any of the MGM Resort properties on the Strip.  While remnants of the creative genius of Steve and Elaine Wynn still remain within the locales they created like the stunning fountains and Chihuly entry ceiling sculpture at the Bellagio, the magic of the legendary attention to detail and prolific sense of customer care has left the building – almost as if a rewind button is pushed on a daily routine without much thought to what might be the next thoughtful strategic plan.   Through saturation, Gucci did the same thing through its bevy of convenience locations – except for one where idealized memories of gracious excess is an oasis in a sea of glitzy monotony.

Imagine a place where sophistication is still an acceptable norm – where a classic sunglassed woman in a Chanel suit is welcomed through the grand entrance at the same time a cadre of young bikini-clad women emerging from a stretch SUV are politely referred to use the side door.  An aura of security, sense of spectacular self-awareness, and opulent deliciousness is embedded in everything including each of the tassels that adorn many of its decorative arts.  The resort that bears the Wynn name is once again without its creator – but remains in the succession of other properties created by its founder as the sole outpost of exquisite taste on the legendary boulevard.  As such, the only location befitting a legendary brand like Gucci is within its perimeter berm.

What can brands like Gucci learn from these observations?

Exclusivity is not a negative:  It takes a number of different forms including scarcity.  While the original Gucci location that I remembered in my 20’s at the Forum Shops at Caesar’s Palace was iconic and squarely identified with the logo ensconced in one of the Roman temple pediment façades, the premium space is now occupied by Zegna with Gucci dwarfed next door.  While all notable design houses have taken similar tracks in littering their presence with wild abandon throughout the city, the psychological underpinning is the reality that many mainline luxury brands are no longer regarded as special or relevant.  The demographic will seek out the product it desires and has no problem traveling several blocks to access it – and the Wynn is the natural point of entry for those who demand exacting quality.  If a product is available on every street corner, it loses its mystique and allure.

Personalization [Not Poison¹] is our Potion: I was most certain that Gucci had given up its premier abode in the Forum Shops for a space next door, so I decided to call the local (702) phone number for the store.  I was promptly routed to “Gucci Client Services” where I asked to be connected to the store floor and was tersely rebuked – “we can answer anything you’d like to know.”  I asked my question about the space and was reassured by the imperious robotron woman void of personality that they had not moved.  Not satisfied, I called the Forum Shops Leasing Office that confirmed that they indeed did move.  The point being is that the relationships the demographic desires is not with central casting, but with professionals in the field at stores who can answer as a matter of conversation simple questions like, “what do you see foreign buyers gravitating to?” or “what’s the best show right now on the Strip?”

Commonalities and conversations build rapport which leads to creating opportunities that foster brand allegiance and evangelism.  While I have been a leading advocate of Gucci since my youth, it has done its best to file for divorce through a series of outrageous actions that only Aldo’s edgy spirit could conjure to make me flee from such matrimonial bliss.  Keeping it local while retaining a big picture of style is how on-point brands thrive.  The Wynn’s overarching ‘attitude’ reinforces what everyone employed on its property (regardless of company affiliation) shares about the root of its success: ambassadors of exquisite customer service everywhere and at all times.

Even the historic greats like Gucci and numerous other style icons can sometimes meander into the briar patch on accident to follow the allure of cold hard currency.  The smallest of details mean so much to the demographic and its perception of the brand.  Staying power in the luxury market is defined by careful patience that takes years to nurture – and it is our hope that Gucci will regain its position that would make the spirit of founder Guccio beam with rejuvenated pride.

¹“Poison is my Potion” was an advertising campaign by Dior to support the perfume of the same name in 1987/88.  It is said the campaign was a spirited response to Yves St. Laurent’s Opium and Calvin Klein’s Obsession.

 

Evolution is Good for Service

  What 36 years will do (in the photos above) . . . I decided to tell a more personal story as it reflects on a lesson in service delivery.  While I've been involved in private advisory work for years, two years ago I leveraged my 23 years of involvement in real estate to launch an unparalleled boutique client experience by developing The Horswell Collection.

 

I first met Pluto at age seven and recently celebrated the 70th Anniversary of Disneyland by remembering my unusual history with the brand.  A year before that old photo, I had sent a letter to Disney's President E. Cardon Walker that included a sealed "top secret" envelope with a new ride design. The design envelope was returned unopened with a very sincere letter from him noting that due to infringement issues they could not review it, but he invited me to "return as an imagineer in a few years."  Over the years, I crisscrossed the Disney constellation to talk with people who knew Walt including my father as well as my friendship with Walt's nephew Ted.  Every aspect of this company and its politics from Roy Disney to Michael Eisner to Bob Iger, its unusual board of directors dynamics, and the speculation about my personal pick for the next CEO, Josh D'Amaro, has always fascinated me.

 

The Horswell Collection is designed in many ways to exemplify the values of a successful studio and media company with its own unusual reach into media, analytics, and rarefied lifestyles . . . and as such, I decided in conjunction with my birthday this year to shake up my world and move my bungalow on the backlot to a real estate company that mirrors the global impact that Disney extends in the experience category - Coldwell Banker Realty.

 

Walt realized that nostalgia could take the company only so far, and that's why "Disneyland will never be completed.  It will continue to grow as long as thee is imagination left in the world.  What I didn't know in 1977 was that Card Walker would take a leap of faith when Roy Disney and Stanley Gold crafted a winning combination in Michael and the late (great) Frank Wells to inject new excitement into the brand while standing guard to preserve the rich tradition of storytelling that is at the core of the company's operations.

The courage to explore new opportunities for clients through expanded service is a path not usually taken when sameness is so much more comfortable.  I thought the backstory of this brand enhancement was something that both my advisory and real estate clients would enjoy.  You're invited into the skysuite of my imagination on a creative and clear path resulting in exceptional client results.

The Regency Magazine Spring | Summer 2025 After-Dinner Trivia Quiz

 

 

 Let’s see how you ‘measure up!’

While the Spring / Summer 2025 issue of REGENCY Magazine is located HERE, our Medley section offered an additional opportunity . . .

 

Games following a spirited dinner party are always in good taste.  Even the most notable entertainers are caught on camera with tissue crowns around an elegant table.  Let the fun continue in the drawing room with an after-dinner cognac.  Our Advisory Council has developed a special trivia game for those “in the know.”  Download the quiz HERE.