Dining recently with the chairman of a publicly listed investment bank, we spent some time on the subject of our company values and defining what we see as our “why” – why do we exist, why does French luxury real estate need Maxwell-Baynes Real Estate and what is the value we bring to our clients. Such questions are great for focusing the mind and helping us to know how to articulate the business culture, values and priorities of what we do not just to others but to ourselves also. Why do we exist? what would the world (of Bordeaux luxury real estate) miss if we were not here to fulfill the role that we do? Our industry is full of words like: honesty, luxury, transparency and customer service – all good targets but arguably a bit vague and ubiquitous in the luxury real estate space. My effort to respond to the investment banker went something like this:
“We exist to provide a reputable and safe pair of hands for those who expect confidentiality and discretion for their family and their capital in the acquisition or sale of expensive French real estate assets.”
But I went on to explain that safety and security are at the core of what we do both internally within our teams as well as externally with our clients. If you think about it, we humans tend not to excel within and environment of insecurity or when we feel unsafe (think: Maslow’s pyramid). The sale of luxury real estate is for nearly everyone, a major capital event – a moment when a significant percentage of a family’s net worth is sold or purchased. It is no wonder that it can create anxiety and so, therein lies the heart of our focus on providing confidence, safety and security to our clients as we accompany them through the real estate transaction process.
Safety does not start with our external client interactions, however, it starts with our internal team of expert real estate professionals and in the DNA of a company. In a speculative success-fee driven industry, real estate agency has earned a reputation for being focused on fee earning before all else. Whether in a restaurant or having your car serviced, what a difference it makes when a professional makes you feel that your needs are more important than theirs or the money that they will earn from you. The logic follows therefore, that the safer we feel as professionals the safer we can make our clients feel which has led us at Maxwell-Baynes to pursue a company culture that underwrites security for our teams.
The banker not only saw the link, but quickly pointed out that the world of investment banking is very similar as bankers navigate clients, their capital and the essential need for security and confidence – not just competence.
Journalist, Christy Murdock also helped us to think about our “why” recently with a list of questions that were published for the “Broker Spotlight” in the prestigious real estate journal Inman News.
What are 3 things you’d like readers to know about you and your brokerage?
- Our mission is to bring Bordeaux to the world and the world to Bordeaux
- The difference – we feel it is essential that our clients feel that we are a safe pair of hands for their privacy (discretion/confidentiality), their assets (and capital) and transaction execution.
- Our goal internally is to provide a working environment where every member of our team can become the best version of themselves.
What are 3 reasons you should be in the Broker Spotlight?
- I am sure that there are many others more deserving than us – but perhaps readers might be interested to learn a bit about Bordeaux, France
- Vineyards are sexy and fun to talk about 😊
- We are just opening a new office in Pyla, one of the most glamourous luxury beach markets in South West France
What’s something you know now that you wish you knew when you started?
The considerable influence that a broker can have over a transaction – I think I underestimated how significant the role of the broker is in holding a transaction together and getting a buyer and seller across the finish line professionally.
Tell us about a high point in your brokerage career. How did you get there?
For me personally it was managing an M&A transaction for a world-famous vineyard estate in Bordeaux. It was an extremely complex M&A transaction that took patience, leadership and perseverance. The high point for us as a team was when Maxwell-Baynes was awarded the Christie’s International Real Estate affiliate of the year in the spring of 2019 at the palace of Versailles in Paris.
Tell us about an epic fail you’ve experienced since you’ve been a broker. What did you learn?
I did a subtle but identifiable (I thought it would be unrecognizable) advertisement for an impressive vineyard estate that inadvertently exposed it to the market and deeply upset the owners in my first year coming to Bordeaux in 2008. Coming from another market context in the US, I underestimated the importance of wine/vineyard business confidentiality – it was a tough but important lesson that has made me excessively sensitive since.
Name 3 people you admire? Why?
- My business partner since 2008, Karin Maxwell – her intelligence, energy, humility, values, willingness to learn and her ability to be a great business partner.
- Simon Sinek (author)– for making wisdom so accessible and his relentless pursuit of optimism
- Siya Kalisi (rugby player) – persisting against all the odds: rising from the South African slums to being captain of the rugby world cup winning side.
What makes a good leader?
- Putting the needs of others first
- Transparency with information and communications
- Being a good listener
- Taking responsibility
- Being willing to take risks while keeping your team secure
Written by Michael Baynes