Co-Owner, Stephens Real Estate
| 2018 Q2 | by Pat McCandless, Stephens Real Estate photo by Steven Hertzog
Pat McCandless
What is your company’s most important asset and commodity?
Our people are our No. 1 asset. We have the best sales and support teams in the business. We take great pride in the service they offer and the way they represent the Stephens brand. We are very fortunate to live in a great community that has so much to offer. It makes for an active real estate market.
What is your company’s most important priority?
Providing outstanding service to our clients, both internal and external, is our No. 1 priority.
People who buy and sell homes with our company are our external clients. It is our goal to provide them with expert service every step of the way, the end result being a low-stress, successful transaction.
Our internal clients are our sales team. We have a one-on-one training program for our agents, and we provide them outstanding support. While many companies are providing less service and support than in years past, we are constantly looking to add more value for our agents by adding more and better service. It makes us unique in this market and in this industry.
What have been some of the most important aspects of your success?
Since Chris Earl and I purchased the company in 2013, we have been blessed with year-over-year growth. Stephens Real Estate is a well-respected brand in Lawrence, and Bob Stephens and his sales team built a great reputation one transaction at a time. We still use many of Bob’s principles and philosophies.
We have made significant investments in technology and marketing. Those elements have certainly improved our efficiency and recognition.
However, the No. 1 aspect of our success has been our people. We do not strive to have the most agents in town, but we pride ourselves on being the most productive. We purposely limit our sales team to about 50 agents. We feel this enables our support team to deliver the highest level of service and support.
Chris and I are engaged in the business every day and available for advice or counsel when our agents need it. It is rare to find both of us away from the office at the same time. Being accessible to our sales team is paramount. And we are brokers who do not compete with our own sales team, meaning we do not actively sell real estate. Our No. 1 responsibility is to be present and supportive to our team and the overall operation.
How many people does Stephens employ?
We have roughly 60 team members at any given time, 10 support team members, and the balance is the sales team. Real estate agents are licensed independent contractors.
How do you and Stephens Real Estate, make a positive impact on the Lawrence community?
Our founder, Bob Stephens, encouraged his team to be engaged and involved within the community. Why? Because it’s the right thing to do. We have fully embraced that philosophy and carry that spirit forward today. As leaders of the company, we are involved and support many great organizations throughout the community. We encourage our team members to find their passion then go out and serve where it feels like the best fit. It’s great to be a local company that gives back to our community.
What do you see as your personal responsibility to your company?
Prior to my real estate career, I worked nearly 30 years for large retail corporations. I would like to think that I have always led by example. I am a firm believer if you have the right attitude, along with a strong work ethic and a vision, you will be successful at whatever you do. My mentor from the retail years had many great sayings, but one has really stuck with me: “Surround yourself with stars, and you will be a star.” I owe success in my career to many hardworking individuals who gave me opportunities to earn respect. I don’t take that lightly.
What would you change about doing business (or working with businesses) in Lawrence?
The real estate industry is very unique in that we compete but also cooperate with other real estate companies. You definitely do not see that in other business models. We value our relationships with other agencies; our operating models may differ, but we remain respectful of those differences.
Why did you become involved Community? What inspires you? Is there a specific thing, person or incident?
My father was a great role model for me. He gave back to his community in many ways, serving civically and volunteering on multiple boards. Seeing the joy he gained by being engaged and involved throughout his career and then during his retirement years was truly inspiring.
What is the biggest challenge you feel Stephens Real Estate faces?
The challenge is continuing to stay current with technology and industry trends while maintaining our independence as a locally owned and operated agency. It’s a challenge we embrace.
What do you foresee as being the biggest challenge for the future of your industry? And how are you addressing or preparing for it?
We celebrate and place a high value on our independence, and believe the Lawrence community recognizes and rewards businesses that are locally owned and operated. Real estate on the national level is ever-changing with a proliferation of models delivering less service in an attempt to scale the model up and/or reduce fees for increased market share. We are bucking the national trend and believe consumers prefer the highest level of personal service available. We are thrilled to be filling that niche.
