What do you think when you hear the word “icon”? A symbol on your computer screen that helps you navigate? A noteworthy building, such as the U.S. Capitol?
What about when you put on your IREM hat–what comes to mind? For me, the word “icon” conjures up images of those exceptional leaders, many of whom I’ve had the privilege of knowing and working with, who have elevated real estate management through their words and deeds, paving the way for it to be recognized as the true profession it is today.
Sadly, IREM lost one of its icons last week when Lloyd D. Hanford Jr., CPM®, MAI, passed away on November 25 at the age of 92.
Lloyd Hanford was born into a real estate family in 1928 in San Francisco and made his career there. After graduating from the University of California, Berkeley, and following service in the U.S. Army, he began his 60-year journey in real estate at Hanford-Freund & Company, a property management firm that’s still in business as an AMO company, and Hanford-Healy, a national valuation and consulting company.
In 1969 Lloyd became IREM’s 33rd president – following in the footsteps of his father, who had been IREM’s president only 11 years earlier. Fulfilling the role as IREM’s president is noteworthy in and of itself. But Lloyd’s impact and influence extended far beyond that. He helped build the profession by contributing to property management’s body of knowledge and sharing it with those just starting their careers.
At a time when all teaching was done in a classroom and IREM’s classrooms were frequently filled with more than 100 students, Lloyd Hanford was an instructor par excellence. Financial and investment analysis and real estate valuation were his chosen areas of focus. Those fortunate enough to be in his classroom embarked on a voyage that incited their interest and captured their attention as they learned from a master how real estate value was created, calculated, and communicated. It thus came as no surprise when, in 1983, Lloyd was recognized as the recipient of the first Lloyd D. Hanford Sr. Distinguished Instructor Award, named for his father who also was a highly respected educator.
Lloyd also shared his knowledge through his writing, which was prolific. His byline appeared frequently in the Journal of Property Management, The Appraisal Journal, and numerous other academic real estate journals. His passion for writing about real estate didn’t wane during retirement, and he regularly shared his thoughts on current events and their impact on commercial real estate in his blog. As recently as April of this year, after contemplating how the COVID-19 pandemic would impact real estate value, Lloyd posted a commentary entitled “What Is Real Estate Worth Today?”
When IREM’s annual conference took place in San Francisco in 2019, Lloyd was warmly welcomed as he attended the event for the first time in a number of years. “As the 2020 IREM President,” said Cheryl Gray, CPM®, “I was so fortunate to meet Lloyd in San Francisco last September at the IREM Global Summit. He was so gracious and his passion for our industry was ever present through all the challenges of 2020.”
Beyond his zeal for real estate as both a business and scholarly endeavor, Lloyd also had a passion for travel–a passion that led him and his wife Noel to embark on more than 50 cruises to exotic destinations around the world. When not traveling, he enjoyed golf and playing bridge. Lloyd is survived by Noel and his two sons, Tim and John, all of whom were with him when he died peacefully at his home in Rancho Mirage, California.