Gain returns as a leader in local real estate
Sun, 03/01/2009
On the morning of Feb. 25, Mike Gain put on a suit for the first time in five years. Almost forgetting to tie his shoes before walking out the door, the morning routine seemed unfamiliar to Gain until he walked through the doors of the Prudential Northwest Realty office in Jefferson Square.
"It just felt like being home again,” he says.
After five years of retirement, in which Gain worried more about his golf game than the local housing market, Prudential’s corporate office contacted Gain and asked him to come back and lead Prudential Northwest Realty Associates as chief executive officer.
Excited about what he considers the prospects for strong growth in the business, Gain eagerly accepted the offer.
“A lot of my friends think I’m crazy, coming out of retirement,” says Gain. “(But) I’m jazzed! I’m really looking forward to the next few years of growth and increasing our market share.”
Gain has nearly 30 years experience in the real estate industry. After first entering in the business in 1977, he and Roger Cayce started Cayce and Gain Realty in 1980. By 1986 the company had become number one in West Seattle, listing and selling more homes than any other company.
But Gain says in 1996 they began to notice the world changing around them. Technology had advanced and it was no longer advantageous to be an independent firm. So they joined the national firm Prudential, allowing them to tap into the national market.
Later in 2002 both Gain and Cayce sold the company. Gain says his goal was always to retire by age 50, and so two years later he did just that.
But after five years of time off, Gain says he started to consider getting back into the industry.
“I really missed the business and missed interacting with all the people I worked with,” says Gain.
Since accepting the job, Gain has been hard at work with some lofty goals for the company.
In some ways, he says, he has returned to a company better than the way he left it. Gain says that since he sold the company it has been well tooled with the very best modern technology and equipment.
“It has every bell and whistle now and exceeds my wildest dreams."
Still, Gain says the company today lacks the energy and motivation that sales companies need to be successful.
“The future of the company is just so bright,” says Gain. “I want to accentuate the positives and take this company to the heights that I know I can take it to.”
Gain says he would never have considered accepting the position if he hadn’t convinced Cayce, Michael Smith and Al Lynch to join him as his management team. Together, they will manage six offices, a relocation department and 575 sales professionals.
He adds that Cayce, who will assist and consult in operations, is committed to coming back and helping revitalize the staff.
"It just wouldn't feel right without Cayce by my side" says Gain. “He will come up with things in writing to really convince people that now is a great time to buy a home.”
Lynch, former manager of the West Seattle Jefferson Square office, will serve as chief operating officer.
“We love the people and we love the company and were committed to return it to the greatness it once was,” says Gain.
Spending his weekend at the office, Gain will continue to work hard through the company’s transition.
“This just feels right to me,” he says. “It’s almost like I never left.”