Ray White Continues To Chase Its Potential

Property giant Ray White hosted its fifth Leadership Academy in Sydney in a bid to provide a world-class education for its members by offering a global perspective on leadership skills and best practice.

The leading agency group this week will welcome more than 200 of its franchisees and corporate staff from around Australia, New Zealand and Indonesia to participate in the course at the Westin Hotel.

The family have been students of the Harvard Business School for almost a decade and now they offer this opportunity to their members and key partners.

Ray White Chairman Brian White said the Leadership Academy was one of the most important events on the group’s calendar.

“We believe we have a key duty to encourage our business owners to understand the skills of leadership,” Mr White said of the 117 year old agency business which recorded $40.7 billion in unconditional sales across its network of 1000 offices in 2018-19.

This compared to $44.4 billion in sales in the prior year and yet the group’s market share has grown to a peak of 11.45 per cent across Australia and New Zealand.

The group has recorded almost undeterred growth for the past two years during the market’s price easing cycle, with an accelerated rate of growth in the last six months.

“There’s no doubt there’s a huge difference between being a leader and a manager. In fact, Ray White philosophy is based on providing the best possible platform for its business owners to graduate and become powerful leaders,” Mr White said.

In his fifth trip tour to Sydney with Ray White, Professor Boris Groysberg of Harvard Business School called the Whites “a learning family”.

“Out of all the different families I know, the Whites are one of a few business families that spends by far a lot of time on learning and development,” Prof Groysberg said.

“Ray White is a learning organisation and the Whites are a learning family.

“I am excited about the people at Ray White. I am one of those academics who talk about the importance of hiring the best and brightest and keeping your talent relevant. It’s amazing that Ray White keeps raising the bar.”

“People probably don’t realise that Ray White is actually a very complicated business,” he said.

“It’s gone through a tremendous transformation but one of the things that amazes me over the years is – even though they do have a leading position – they are not complacent. Ray White is always trying to stay ahead of things.

“I am privileged to be here and I come back each year as it’s a two-way street and I have learned a lot about franchising from Ray White.”

Of the case study learning method. Prof Groysberg said he was biased as he was a product of Harvard Business School where they teach through this method.

“I think case studies create magic in the classroom. People must read the case and then discuss it and it can help with whatever challenges or opportunities people are experiencing,” he said.

“The approach can help businesses become better organisations or teams or executives. It’s one of the best ways I know how to teach.”

Ray White managing director Dan White said the group aimed to produce solutions for its people, not just products.

“Our company’s growth has accelerated since we started the Leadership Academy. We aim to develop our people and manage our group to find better ways to work every day.”