Industry Visionary

  • Charles McMillan
    Director of Realty Relations and Principal Broker for COLDWELL BANKER Residential Brokerage

Charles McMillan is the Director of Realty Relations and Principal Broker for COLDWELL BANKER Residential Brokerage, Dallas/Fort Worth and a nationally recognized leader in the real estate industry. His experience includes having worked as a sales agent, manager, trainer, and broker/owner of his own firm.

 

Mr. McMillan  has been approved by the Texas Real Estate Commission as an instructor in real estate C.O.R.E. (pre-licensing) and M.C.E. (mandatory continuing education) courses.

 

Additionally, he has been recognized by the National Association of REALTORS® as a Subject Matter Expert (SME) in the areas of agency, anti-trust, misrepresentation, fair housing and diversity.

 

Active in the REALTOR® organization at all levels for over 20 years Mr. McMillan is past President of the Greater Fort Worth Association of REALTORS® and in 1998 served as President of the Texas Association of REALTORS®. He served two terms as Region 10 Vice-President of the National Association of REALTORS® and has served several terms on the Executive Committee .In 2000 Mr. McMillan was voted REALTOR® OF THE YEAR by the 65,000 member Texas Association of REALTORS®.

 

Awards

·         WHO’S WHO in Residential Real Estate – Tarrant Business Press - 1996

·         REALTOR® SPIRIT AWARD – 1986 G.F.W.A.R.

·         REALTOR® OF THE YEAR – 1992 G.F.W.A.R.

·         REALTOR® OF THE YEAR-2000 Texas Association of REALTORS®

·         Congressional Outstanding Achievement Recognition – 1991, U.S. Representative Pete Geren

·         OMEGA TAU RHO – 1994 (Honor Society of the National Association of REALTORS® for outstanding accomplishments in the field of real estate)

 

Civic Involvement

·         Past Member, Tarrant County Appraisal Review Board.

·         Past Chairman, Community Development Council, City of Fort Worth

·         Past Chairman, Housing Subcommittee,  City of Fort Worth

·         Past Chairman, Tarrant County Affordable Housing Task Force

·         Past Director, United Way of Tarrant County

·         Past Director, Fort Worth Chamber of Commerce

 

Charles can be reached at CharlesMcMillan@prodigy.net.


As an "industry visionary", what do you see as the major changes occurring in the real estate industry?

The real estate transaction is becoming compressed again with fewer steps and players and much less time. I once described a property transaction occurring 40 years ago to a class of real estate students. The number of transaction processing participants, approximately 7, time period, from beginning to end, approximately 4 days. I then drew a timeline and inserted the players from the various cottage industries that have since segmented the process. Result, multiply each by 10 (ten) and today’s typical transaction emerges for many of today’s consumers.

Today, advanced technology and the consumer’s demand for ‘one stop shopping’ and simplification are moving the time and efficiency pendulum back.

What major "corporate players" are driving change and what may be their impact?

Rather than name any particular entity, let me say that the ‘Large Firm’ category of brokerages identified by the National Association of REALTORS®, with each broker having a seat on the directorate are the principal drivers of change. They have been able to create, analyze, and make use of voluminous research about real estate consumer needs and preferences. Then, with lightening like speed (for the industry) obtain and implement technological and policy regimens to take advantage of same.

Who are the "individual trendsetters" that are shaping the future real estate industry?

The individual trendsetters that I see are the women and men coming into our industry today from business and corporate America for a variety of reasons, retirement, downsizing, disenchantment, etc.. I attend industry award ceremonies throughout Texas and across the nation and note that the top industry production leader awards often go to an individual who has been in real estate approximately three to five years and came into real estate from another industry. Additionally, their performance has eclipsed those of previous recipients who were often fifteen year plus veterans. They not only ‘think outside of the box’, they in many ways discard the box.

What are the expectations of the emerging real estate consumer?

To answer, allow me to quote an imaginary consumer. “This purchase is about me and my family. Please listen to us. Please serve us and serve us well. Guide me logically through the process. I am not interested in your rituals or traditions.

If there is an act or process that serves no meaningful purpose, I would prefer not to participate”.


How should the Brokerage and Realtor Association / MLS respond to these real estate consumer expectations?

Continue to streamline and simplify their processes. They should only align themselves with vendors and providers who are themselves visionary.


What changes should a Brokerage implement to ensure profitability in the future?

Stay abreast of changes in technology and brokerage practices. Constantly evaluate what they are doing and change the things that are not producing the desired results.


What role do you see the Realtor Association / MLS playing to ensure Broker profitability?

At the risk of having my title of ‘Industry Visionary’ yanked, I do not see the REALTOR® Association and the MLS as ‘ensuring’ Broker profitability. If that were the case, when an individual brokerage firm failed, the Association and/or MLS would be to blame.

However, I do see both having very important roles as tools for the Broker by operating in the most efficient manner, making good use of economy of scale. Both should make use of the most forward thinking employees and staff as well as the most advanced technology.

By so doing I believe they play a mighty role in keeping the REALTOR® central to and essential to the transaction. The Broker then is in a better position to make use of his/her own business acumen and resources to ensure their individual profitability.


Based upon your vision of the future of the real estate industry, what are you doing to help influence positive change?

Staying involved on a local, state, and national level. Listening to my own associates and listening to associates across the country, sharing willingly and humbly of my own knowledge and wisdom, picking up a lot more from them.


What books would you recommend as a "must read" that have influenced your vision?

If I had to pick from the many books that have influenced my thinking two that readily come to mind are; ‘Leading Change’ by John P. Kotter, and ‘Managing The Whirlwind’, by Michael H. Annison.


What advice would you give Brokerages and Realtor Associations / MLSs to assure they stay relevant and successful in the future?

Stay informed, learn what you need to do, do it!

Charles can be reached at CharlesMcMillan@prodigy.net.