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!