As featured on Marketing Darwinism by Paul Dunay
1. What makes Legacy different from other Real Estate companies?
Chris G: Indeed, many Real Estate companies appear to be similar on the surface but are quite different below. Like an iceberg- only 10% is above water, the rest invisible. In the case of Legacy, our unwavering commitment to our communities makes us stand out. Whether builders, Loan Officers, brokers, house owners, or house buyers- we think of these communities as part of a larger whole- an ecosystem that must be attended to in toto, not just in parts. This has stood the test of time and even as we expand, that focus guides us.
2. You have a unique combination of builders, investors, homeowners, and home purchasers in your community. How do you manage all of these disparate audiences simultaneously?
The thread that binds these is the idea that in each of these communities, there are individuals that need a distinct outcome. Our teams have to deeply understand what is the outcome that individuals desire; we can’t a priori go in with a Legacy-first perspective. Second, we are very big on education; if people do not have access to what we offer and have a deep understanding of how we can help, how we work, and what processes we follow, then we don’t build trust, which is the currency of the entire Real Estate economy.
3. As you look to expand into new markets, what are the core factors in the target markets that interest Legacy?
If I were to put it simply, what markets are similar to the Seattle area? Which markets have good bones and good opportunities while being ready for innovative financial solutions that are common-sense in approach, easy to understand, and focused on outcome. The market should be of appreciable size, have a large class of people who want to be homeowners but need just a little nudge and a set of institutions that can support the ecosystem. As an example, we are making bets in many metros in Colorado and in the Phoenix area as well.
4. You write about “The Missing Middle”- those people who want to be homeowners that need just a little nudge to get there. If we focus on them, can we make a discernible difference in both homeownership stats but also the quality of our communities?
Homeownership is so much more than an economic decision. While it is that, it is also a decision about life, education, environment, and community. What we call “The Missing Middle” is a group of people who the traditional institutions haven’t done a great job of working with. Homeownership in the US has lingered at about 65% for decades, partially because the traditional way of lending and financing hasn’t really changed. We have to make that number higher.
5. What do the next three years look like for Legacy? Give us your predictions.
Legacy as I said has unwavering commitment to audiences and markets. Over the next three years, we’ll introduce more products and a comprehensive engagement platform based on the latest in technology. We will, also, move into new markets and build new communities across the country. We feel bullish on community!
