IREM White Paper on Managing the Management Company: Succession Planning

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By Christopher Lee

What are you and your real estate management company doing to reduce risk and maximize future relevance?

One of the biggest threats to every real estate organization is the sudden or unexpected loss of a key leader. In fact, 40 to 60 percent of Baby Boomers currently employed are likely to retire or reduce their full-time workload. As a result, the real estate industry is verging on a sea of “flash” retirements. When those sudden retirements, unexpected illnesses, or resignations occur, there is limited time to transfer knowledge, relationships, and unique skills.

With the IREM White Paper on Succession Planning you will learn:

  • The benefits of having a succession plan
  • Four phases to creating a solid succession plan
  • Core questions to ask during the planning process
  • The eight components of leadership development

In the words of Christopher Lee, “Succession planning is not an option, it is a requirement.” Whether you are working in a large organization, mid-sized company, or small firm, you need succession planning. Get the conversation started and help prepare your real estate management firm with a solid succession plan.

The content in this IREM White Paper is an excerpt from the IREM publication, Transformational Leadership in the New Age of Real Estate (2012) written by Christopher Lee.

Copyright: 2015
Format: PDF; 5 pages

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