Andy Puthon (Photos by Marko Shark)
Interview by Dennis McCloskey
Andy Puthon, 56, who was born and raised in Guelph, Ont. and still lives there, knew as a young teenager that he wanted to go into the real estate business. On weekends in 1970 he would go to Toronto where his older sister, Michaela, was developing run-down properties in the Cabbagetown area, which was undergoing urban renewal at the time. “She saw the potential in these properties,” says the recently appointed president of Coldwell Banker Canada. “Michaela has an architectural background and as I watched her buy and renovate houses, it made a lasting impression on me. I observed her creative work, and through her I learned about the trade, mortgage financing and how to work with Realtors, contractors and lawyers. It was all pretty intriguing to me.”
By age 18 Puthon had obtained his real estate licence; at 20 he got his Ontario broker’s licence; at 25 he was manager of a real estate office and for the next three decades he served in various executive capacities in the real estate field.
Budge Huskey, president and CEO of Coldwell Banker Real Estate LLC in Parsippany, N.J. says, “Andy Puthon is a strategic thinker who has a proven track record for franchise growth.”
Peter Benninger, broker of record, president and CEO of Coldwell Banker Peter Benninger Realty in Kitchener, Ont. says, “Andy’s broad experience means he knows the real estate business from the ground up and is sensitive to the needs of all participants in a transaction, from clients to sales representatives to brokers. He is a respected leader and I am confident he is very capable of executing the vision of Coldwell Banker International here in Canada.”
Puthon recently spoke to REM in his office at the company’s Burlington, Ont. headquarters about his career, the business, and his new role with the company and its 3,200 agents in 200 offices in Canada. Here is part of that discussion:
REM: What sort of guidance would you give to someone who’s thinking of starting a career in real estate?
PUTHON: I would impress upon them that it is a “people business” with a lot of different disciplines, including planning, business development, staying current with various trends in legal, municipal, marketing, social media and financial areas. They need to understand that they have to synthesize a lot of different sources of information and to understand that it’s a business that is relatively unstructured. It attracts creative people and people in non-traditional backgrounds who like the fact there are no caps or ceilings or limits imposed upon them by structure. To succeed in this business it takes a special kind of person with strong work habits who doesn’t wait for the phone to ring, but rather puts in the kind of effort that is required to grow their business. I would also tell them it’s fun and it’s intensely rewarding helping people relocate their family or make an important investment decision.
REM: Can you outline your vision for the company and discuss future plans?
PUTHON: Our focus will be on growth. The Coldwell Banker organization has been in business since 1906 and has a rich legacy. We have strong support out of the global office in New Jersey and we have a strong base here in Canada from which to grow. Growth begins with assisting existing sales associates to increase their own productivity and this can be achieved through various methods, including using online resources, face-to-face meetings, learning new skills and writing or improving business plans. We have enormous resources. Another way to achieve growth is by attracting franchisees who convert to our system, or having existing franchisees expand into new or adjacent markets. Growth can also come through mergers and acquisitions executed by existing franchisees and from strategic start-ups.
Coldwell Banker International is a value-driven global brand with 82,000 sales agents working in 3,100 offices in 52 countries. Offices opened in India and Switzerland this year. We are directly linked with the global operation and we can leverage the work they do. It’s the best of both worlds because we can also implement new services and products here in Canada. For example, we have something called an Ultimate Service Program that is uniquely Canadian and developed for the Canadian market. We are implementing a Help Desk in this country and we have the Canadian Broker Council.
REM: How does Coldwell Banker fit in the real estate franchise marketplace and how is it different from other big real estate firms?
PUTHON: One of our distinguishing features is our emphasis on being a learning organization, which goes hand-in-hand with being a full-service company. Coldwell Banker is consistently rated as the No. 1 real estate brand for training in North America, by Training Magazine.
REM: What are your views on the future of real estate brokerages and the role of the agent amid rapidly changing technology?
PUTHON: Technology is an enabler for brokers and it’s only a threat to those who don’t embrace it or adapt to it. Our role as a franchisor is to help our franchisees and sales associates adapt to changing consumer tastes and profiles and provide timely solutions in a cost-effective manner. As a result of technology, we are seeing a more sophisticated and informed consumer and that, in general, is a good thing for a Realtor.
REM: Are there any areas of the country where Coldwell Banker is under-served?
PUTHON: We have good representation across Canada but we’re not anywhere near the level we could be or should be. For example, our representation in Quebec is strictly commercial.
REM: How can sales reps compete with commission pressures caused by discount brokers; people using the Internet more and more; and FSBOs?
PUTHON: Segmentation of markets is happening in every industry, and real estate is no different and not exempt. The vast majority of consumers continue to deal in the traditional way with the Realtor but it’s important for real estate sales representatives to demonstrate the value they add through the transaction.
REM: Will you be travelling to your Canadian offices from coast to coast to coast to raise the flag, beat the drum and rally the troops?
PUTHON: I have been doing some travelling since my appointment and I will be meeting with franchisees on their home turf. I may even become known as a “serial traveller!”
REM: Tell me about your family and what you like to do when you’re not working.
PUTHON: My wife, Betsy, is executive assistant to the mayor of the City of Guelph. We have two daughters: Aimee, 23, who is studying at the University of Guelph and Alexandra, 19, who attends the University of Western Ontario. We also have four cats and a dog. We are a family of tennis players, skiers and cyclists. We also enjoy time with family and friends at our cottage on Lake Huron near Southampton. My interests also lie in heritage development. In 1990 I received a Guelph Arts Council Heritage Award for my role in restoring a landmark heritage building called Hampshire Terrace that was built in 1903.
