NMHC’s Emerging Leaders and Diversity committees teamed up on a special program during an Emerging Leaders lunch. Panelists (from left to right) were Capital One Multifamily Finance’s Grace Huebscher, Wells Fargo Multifamily Capital’s Vince Toye, Bozzuto Management Company’s Stephanie Williams, AIG Global Real Estate Investment Corp.’s Jeff Daniels and Mill Creek Residential’s Jessie Henry.
During the 2016 NMHC Annual Meeting, NMHC hosted a networking lunch for Emerging Leaders, the elite group of young industry executives whose companies selected them to attend the annual event. The luncheon featured a panel with four industry veterans from diverse backgrounds and experiences sharing insights, observations and advice on making the most of a career in multifamily. The panel idea was a collaboration between NMHC’s Emerging Leaders and Diversity committees.
Jessie Henry, managing director with Mill Creek Residential Trust, moderated the panel, which included Grace Huebscher, president of Capital One Multifamily Finance; Vince Toye, executive vice president GSE head of production for Wells Fargo Multifamily Capital; Stephanie Williams, president of Bozzuto Management Company; and Jeff Daniels, managing director for AIG Global Real Estate Investment Corp.
The panel looked at diversity as a path to success. The more diverse talent the industry attracts and retain, the more successful it will be because at the end of the day, we serve a diverse group of stakeholders. “It affects your returns. If you don’t have a diverse body working on the deal, you’re missing something,” said Daniels.
The group offered rising stars these three recommendations:
1) Take on the new challenge. Some called it being flexible, others called it taking risk, but all the panelists said that a major springboard to their careers was being put in a position where they were offered an opportunity to do something outside their wheelhouses. It was scary and they weren’t always immediately successful, but those so-called “stretch” positions were huge stepping stones in the long run.
2) Find a mentor-or three. This is a relationship business, so finding people who can help guide you is crucial. Panelists stressed finding people with different backgrounds and experiences, meaning find leaders in other business units or other age cohorts. And why have one? Selecting a few people who have exceptional skills in different areas can be helpful.
3) Have patience. “Give yourself enough time to be good,” as one executive put it. There’s a lot of pressure to keep looking for the next thing, but sometimes it’s worth it to stay the course.