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Building success, cultivating culture, and embracing innovation in Commercial Real Estate with Cory Wright

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Episode notes

#43: Join Cory Wright, the driving force behind William Wright Commercial, as he explores the evolving landscape of Commercial Real Estate. From his daring start in Yaletown to leading 7 BC offices, Cory's journey underscores the power of people as the ultimate business asset. He delves into office models, client priorities, and the reasons behind his brand, emphasizing the importance of hiring for passion and attributes while fostering a culture of success without traditional titles. Discover Cory's insights into organic growth, AI's impact on Real Estate, and the client-first approach that defines William Wright Commercial, offering listeners a wealth of leadership and strategic innovation lessons.

• 00:00:13 Start

• 00:00:22 Cory’s start in the biz

• 00:01:25 Working at Prompton

• 00:02:20 Getting a lease with no credit in Yaletown in 2013 to 7 offices in BC

• 00:03:19 People are your biggest asset

• 00:03:42 KEY’s first office space

• 00:04:34 What does the future office model look like in 2023 and onward

• 00:05:24 Do clients care about a good-looking office?

• 00:05:54 Why start your own brand?

• 00:07:04 Entitlement in the Commercial Real Estate space

• 00:08:30 Hiring on passion and attributes upon hire

• 00:09:29 Communication is KEY in business and personal relationships

• 00:10:54 Looking at the next market and increasing boots on the ground

• 00:12:12 Not playing catching up with COVID

• 00:14:44 Highlighting mentorship

• 00:15:12 Smother people with leadership

• 00:16:07 The people at William Wright Commercial

• 00:17:19 Cam’s family within Lee & Associates

• 00:19:11 Only being as good as your last transaction

• 00:19:30 Growing organically

• 00:20:10 Is Alberta next for William Wright?

• 00:21:09 Generational wealth exchange

• 00:22:35 Getting to know the Commercial Real Estate industry better (multinational, regional, local, resimercial)

• 00:25:09 What are multinational companies offering to brokers?

• 00:27:08 Opportunities in the office vs. not

• 00:28:19 Why leave multinational

• 00:28:38 Creating a broker's first brokerage

• 00:30:41 Becoming complacent

• 00:32:26 Creating a culture of winnings

• 00:33:47 Why so many VPs??

• 00:34:10 Creating a level playing field, William Wright doesn't do titles

• 00:36:26 Looking at the long game

• 00:39:06 People buy what they know

• 00:40:46 Revenue sharing model within William Wright

• 00:45:04 50% of a watermelon is better than 100% of a grape

• 00:45:35 How did the revenue model come about

• 00:47:45 Cory's family

• 00:49:39 People who make shit happen vs the people that have shit happen to them

• 00:50:02 Who does Cory admire

• 00:50:28 The book Execution

• 00:52:26 Company values

• 00:53:01 How to choose the right people

• 00:54:01 A lot of people do not know how to be successful

• 00:57:53 Innovating

• 00:58:17 AI

• 00:58:31 AI in commercial real estate

• 00:58:58 What AI can do

• 01:00:15 Development Land Sales

• 01:01:32 Getting the list back

• 01:04:26 Presale experience

• 01:07:10 Current presale projects

• 01:08:55 Putting the client ahead

• 01:12:53 Is there a conflict of interest?

• 01:13:25 End