It's been 18 years since Chairman Larry Rideout founded Gibson Sotheby's International, going from 3 offices to now nearly 30 around the Greater Boston area and becoming Massachusett's  largest independently-owned brokerage. SSRP Publisher Melissa Schorr sat down on the occasion of daughter Nicole Rideout, newly-announced President, along with Colleen Barry, the company's CEO, officially beginning the process of transferring toward the next generation of leaders. Larry and Nicole discuss going from humble origins, their best advice for Real Producers, and how being a family-run business brings its own set of challenges and rewards.  

Larry: We started in 2006 with three offices, $240 million in sales volume. Now we are doing $3.3 billion, with 27 offices. The beauty is, now our company refers to one another across the whole state.

Larry: 2008 was a wake-up call. We had just begun this and the world collapsed. Our team rallied behind us. We were worried about keeping the lights on. Our agents were like, ‘we’re with you.’ Nobody left us. Our culture emanated from that.

Nicole: My dad started as a truck driver, my parents really built their own way. I got to see that happen. I don’t remember him selling real estate, but I understood franchises by fifth grade. Seeing him take that huge risk, to put everything into the company and see the economy crash…it was a good lesson on how to persevere.

Larry: If you start from nothing, you can appreciate what you have. My wife came from Dorchester, I came from Chelsea. Our perspective is totally different from most people, I think. Nobody handed us this; it was blood and toil to get there. 

Nicole: We have both layers. We have independent ownership, a family feel, close tight-knit culture. And the good side of a bigger company, lots of support. We have boots on the ground, people who actually care, and then we also have the depth and reach of a big brand. We are the one choice that marries the two. We truly have the best brand in the business. 

Nicole: People aren’t competing with each other, they’re trying to raise one another up. We definitely have an “all ships rise with the tide” type of mentality. Of course, we’re competitive people – that’s why you are in this business –  but not in a negative way. 

Larry: Opportunities abound to move ahead, because people are going to be leaving by the droves. Don’t be consumed by the headlines. Scratch down and educate yourself and keep a steady hand.  Consumers are the ones who need the guidance. The headlines say the world is collapsing around us – it never is.  

Nicole: Look who you’re surrounding yourself with. Everyone I've watched grow to become a top producer is a good collaborative, kind person who plays nice in the field. That’s the most obvious secret out there, but I feel some people don't get that. This business draws competitive people, [but] if you’re too cut-throat it really hinders you. 

Nicole:  It’s tough working with family, it’s not always ideal. Some days, you think, it would be a lot easier to just clock into a job. 

Larry: Not for the faint of heart!

Nicole: But it gives you purpose. When you build a business, who could you trust more? It makes the organization run better, because you can have honest conversations. But, you need to remember,  things said at the Sunday dinner table, you need to share that at the Monday meeting. 

Nicole: I always wanted to be a politician (not anymore!) After graduation, I even had a job in DC lined up, [when the family needed me] I realized quickly if I want to be in this business, I have to get in at the ground level to understand how this works, not come in [later] as some executive. You can’t lead like that, you have to see what’s going behind the curtain. [You also think to yourself], ‘Am I going to go work for someone else’s dream, or build on the legacy we have in front of us? 

Larry: I have been surrounded by women my whole life –  4 daughters and my wife. Having two of my daughters working every day with me is phenomenal. That’s a high point for me. We consider this a relay. Paul McGann and I have carried the baton for 18 years, now we are passing it to Nicole and CEO Colleen Barry, a young, smart team. We’re not going anywhere, but you need someone fresh and young, and we have that. We feel good about our legacy.