Inspiring Leaders in Our Changing Industry: Bill Frame, Kidder Mathews

This summer, Connect CRE is producing a series titled, “Inspiring Leaders in Our Changing Industry” as a follow-up to last summer’s “Leading in Tough Times” series. We’ve selected leaders around the U.S. and across the commercial real estate spectrum to discuss significant changes in the industry and their organizations. In this installment, you’ll hear from Bill Frame, chairman and CEO of Kidder Mathews.

Charting a New Course: How do you navigate the transition from established practices to pioneering new frontiers within your organization?

Great question. It’s easy to fall into the mindset of “if it ain’t broke, don’t fix it.” It’s not necessarily complacency as it is thinking you have reached the finish line. You worked so hard to get it where it is today, that when it finally hits, it is so easy to assume you are done. However, a good leader is always looking at ways to take it to the next step. You have to take the time to step back, get fresh eyes on it, and — most importantly — get feedback from employees who are using your systems or working directly with your clients. There are always ways to become more efficient. We are going to see some exponential changes as the adoption and normalization of AI or robotics becomes mainstream. Real estate is a slow adopter, so it will probably be at the generational pace, but things will shift over time.

I am not a fan of jumping onto an unrelated product path but prefer to build on what we already have. There are too many examples of tech companies without a real estate background thinking they can hack their way into commercial real estate and then failing. Making and selling widgets is not the same as selling real estate.

The short answer is you always have to look ahead, while continuously improving the foundation you are building on.

Catalysts for Change: What are the essential elements for achieving significant progress within your organization and the industry as a whole?

It’s simple. Be open to all ideas — and be willing to go against what you think is the best approach. Don’t discourage anything. Ask for input. Everyone brings a unique background and perspective to the company with wisdom from solving problems differently. As CEO, I see everything, though typically at a high level. When I review reports, I don’t see what went into creating them or all the data behind them. That’s why it is crucial to ask for input from those who live and breathe in the systems.

Sometimes employees get intimidated by a title and don’t feel like it is their place to either contradict the boss or question why we did or do something a particular way. The expression I dislike most when I ask why we did something in a certain manner is…well that is the Kidder way. No, it is not the Kidder way. The Kidder way is to always be looking to improve and provide better resources for our brokers and employees.

And it is the same for the industry. People are constantly changing and their needs change with them. Don’t assume you know what they want or need. Ask them. Then try and solve for it. While there is often an old solution for a seemingly new problem, there are so many new resources and tools out there to stretch your abilities. You have to be open to learning them and seeing how you can apply them.

Guiding the Next Generation: As we acknowledge the industry’s rising stars, what guidance can you offer them to become catalysts for positive change?

My grandparents worked for the same company their entire lives and it took care of them for life with pensions, healthcare, you name it. Today, it is different. We are in the era of free agency. My advice to the next generation is to recognize that no one is going to look out for your interests more than you will. I know that sounds selfish, but it’s meant to be motivational. Go out there and make things happen. Don’t wait for someone else to do it for you. Ask for it. If you want something, go after it. Don’t sit back and wait for the boss to recognize your hard work and hope they give you a promotion or a raise. Tell the boss you want it. You have to earn it, and you can’t be a jerk about it, but unless you bring it to their attention, they are going to assume you are not interested. Don’t give your boss an excuse to overlook you.

That is personal and professional advice. Now, how do you make a difference? I’m a big fan of creating a personal community. A group of people you can count on to provide resources for any aspect of life. Those “go-to people” who you can also refer to others. You will become “that person” who people can come to for answers. Sometimes the best difference you can make is helping another person solve their problem. Paying it forward starts with one person.

Then get involved in your local community. Join a professional group related to your industry. For commercial real estate that could be NAIOP, ULI, or ICSC. These organizations are great for advancing your career. Join a charitable or city organization. It could be as close to you as your child’s school board or a church group. Either way, get involved in your local community as it helps both personally and professionally.

At the end of the day, you are creating a personal brand. Your brand travels with you and reaches people you may never meet. Your example will help others make a difference.

Click here to see the full Inspiring Leaders in Our Changing Industry series.