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Woodbury VP Elected President of International Real Estate Organization

Mon, 11/09/2009 - 12:08
Randy Woodbury, corporate secretary and vice president of property management for Woodbury Corporation, was elected 2010 president of IREM exactly 50 years after his grandfather served in the same position.

Grandfather was President 50 Years Ago

 
By Kelly Lux
Real Estate News Utah Editor
 
In his youth, O. Randall “Randy” Woodbury cleaned out vacant buildings, cut down weeds and performed minor repairs for his grandfather, F. Orin Woodbury, the founder of the family-owned real estate company Woodbury Corporation. F. Orin, a past president of the Institute of Real Estate Management, was planting seeds that would eventually solidify his grandson’s role in the family business and lead Randy to follow in his grandfather’s footsteps.
 
Nearly 40 years ago, Randy left the family business to attend the University of Utah where he received a bachelor’s degree in finance. He spent the next seven years in mortgage banking before F. Orin convinced him to return to the family business to head up the property management division. Reflecting on the state of the economy, Randy said he felt the timing was perfect and liked the idea of managing his own inheritance.
 
“At the time, in 1981, we were in another period of time when the world seemed mighty screwed up,” Randy said in an interview with Real Estate News Utah. “It looked like a pretty good time to step out of the mortgage business and move over to property management.”
 
Upon his return to Woodbury Corporation, Randy joined his grandfather, attending the monthly meetings of IREM, an affiliate of the National Association of Realtors and well-known source for education, resources and information. F. Orin, who founded Woodbury in 1919, had joined IREM early in the 1930s when the organization was getting off of the ground. Randy said his grandfather joined the Institute to help improve the level of professionalism in the real estate management industry.
 
F. Orin was the 58th member of IREM to receive the Certified Property Manager designation. He became the president of the association in 1959. And, almost 20 years later F. Orin, would introduce his grandson to the Institute. 
 
Randy joined IREM in 1981 and began pursuing his CPM, which he earned in 1987. Randy started attending the twice-yearly national meetings of the Institute. He said he found the meetings to be rewarding, increasing his knowledge and understanding of property management and deepening his commitment to IREM.
 
“I just really enjoyed the people that I met and the education sessions that were provided,” Randy said. “It was a great way of furthering my own professional education.”
 
After developing a habit of attending the national meetings, Randy became more involved in the organization, both locally and nationally. He was president of IREM’s Utah Chapter No. 33 in 1992 and was honored as the chapter’s “CPM of the Year” in 1993, 2000 and 2005. Randy has also served on various committees for IREM, including regional vice president, senior vice president and a member of the executive committee. In 2008, Randy served as the IREM secretary/treasurer, and in 2009, the vice-president.
 
Then, exactly 50 years after F. Orin served as president of the IREM, Randy was appointed to the same position. Randy was elected 2010 president of Institute during the association’s annual fall meetings in Honolulu, Hawaii.
 
“For me personally, it was kind of the fulfillment of a legacy that has come full circle,” Randy said of the appointment. “I know what an important part of [my grandfather’s] life this organization was. So I feel like I am carrying on that spirit — hopefully in a way that would make him pleased.”
 
Randy has already begun the transition into the IREM presidency. He will spend the next year helping to manage the Institute, working with officers and staff to manage the finances, organizing programs and arranging educational opportunities. Randy said he hopes to grow the Institute internationally, expanding beyond the 80 U.S. chapters, 12 international chapters and several other partnerships around the globe.
 
“There are so many countries where real estate markets are developing, and there is a need for professionalism and education,” Randy said. “I am looking forward to continuing the opportunities of being out among our members and in different markets around the country and around the world in such very interesting times.”
 
Acting as an ambassador for IREM, Randy will spend much of his time as president visiting chapters, universities and companies.
 
“And that is where the real fun is — not that it isn’t fun working with the management of the business,” Randy said. “But the real fun is being out among the members and out in the field and learning about the nuances of what’s going on in the real estate market and management market.”
 
Through his interactions with other members in other markets, Randy said he believes now is the time for property managers to find and create opportunities. Property management is a business that “has to go on whether the market is flourishing or floundering.” He said the best way to work through downturns in the economy is to stay positive and work hard.
 
“It doesn’t matter what we hear on TV about the sky falling. We get up and go to work every day, and we do what we do,” Randy said. “This is a great time to be in the property management business.
 
“It is all back to the basics right now, the fundamentals of efficient operations: driving for a positive bottom line and marketing profits — everything it takes to maximize the value of a property from its fundamental levels. That’s what we do. That’s our job. That’s our specialty. And I happen to believe that IREM credentialed members do it best.”
 
Looking forward to his new role with IREM, Randy said he hopes that he can, much like his grandfather, make a difference in the industry.
 
“[My grandfather] was a man of such great wisdom,” Randy said. “I hope I have inherited a little bit of that and can make up for the difference with hard work.”
 
Randy plans to carry on the legacy that his grandfather left behind, drawing on the same principles that his grandfather believed in to encourage high-quality management.
 
“I believe the world, the business world, the world of real estate and the world of real estate management have all become much more complex than what they might have been in [my grandfather’s] time,” Randy said. “But the basic principles, promoting education, professionalism, dealing with the utmost integrity, those are things that span time no matter what changes.”
 
To learn more about the Institute of Real Estate Management and its chapter network, call 800.837.0706 EXT. 4650 or visit www.IREM.org.

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