@properties CEOs talk company growth and franchising
Today’s HousingWire Daily features a crossover episode with RealTrending. In this episode, Tracey Velt, editorial director at RealTrends, an HW Media company, interviews Mike Golden and Thad Wong, the co-founders and co-CEOs of @properties.
During the interview, Golden and Wong discuss the future for @properties, including its nationwide franchising plans as it expands outside of the Chicagoland area. They also discuss other aspects of their growth strategy and technological platforms.
Here is a small preview of the interview, which has been lightly edited for length and clarity:
Tracey Velt: You’ve taken a big step with franchising @properties. Tell me about your growth strategy and where your focus is now.
Thad Wong: We wanted to have the first franchises be close to home. But what we did prior to franchising is the acquisition of Ansley in Atlanta, Georgia. At the time, that company was about $400 to $500 million. We wanted to control the first time we ever transferred our software into a new market. We really mastered how to increase adoption and roll out our tech by acquiring Ansley. I think this year they may end up closing $2 billion in under three years.
Since then, locally, it’s been awesome because La Crosse is close by, Indianapolis is close by, Detroit is close by. Dallas is further. And the next three or four that we at @properties are going to announce are going to be even further out. But, initially, we wanted to keep it close to home so we could be there quickly and participate in the rollout of the software to make sure that the cultures were aligned and the rollout of the marketing was appreciated as well.
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