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In this episode of The Leader Show, Lou Carter interviews Mark Fogelman, President of Fogelman Properties, a leading name in the multifamily real estate sector. Mark delves into the company’s rich history, commitment to creating a family-like culture, and innovative strategies that have made Fogelman Properties a “Most Loved Workplace”. He especially highlights the importance of community engagement and personal connections in driving employee satisfaction and business success.
Hello, everyone! Welcome back to The Leader Show with Lou Carter. We’re excited to have Mark Fogelman, President of Fogelman Properties, with us today. Mark has been a driving force in transforming Fogelman into a leader in the multifamily sector.
What began as a local real estate firm has grown into one of the most respected privately-held multifamily companies in the U.S. Since commencing his tenure in 1994 and becoming President in 2001, Mark has been instrumental in expanding Fogelman’s acquisition platform and managing its various divisions.
He holds a BSM degree from Tulane University and is an active participant in both industry and community initiatives, serving on boards like the National Multifamily Housing Council and New Memphis Institute. Now, let’s hear from Mark on what makes Fogelman Properties a Most Loved Workplace®.
Firstly, Mark reflects on Fogelman Properties’ legacy in multifamily real estate, focusing on its ownership and operation of apartment communities across the Southeast and Southwest regions of the U.S. He highlights that Fogelman Properties manages everything from sales and marketing to maintenance and construction management. One of the key goals for the company is to create a sense of community for both residents and employees.
Additionally, Mark shares the company’s history, noting that it was founded by his father, Averin Fogelman, in 1963 and recently celebrated its 60th year in business. He and his brother Rick took the helm in the late 1990s, building on their father’s legacy by expanding into management, making investments, and driving acquisitions.
Today, Fogelman Properties oversees around 110 communities across 13 states.
Moving on, Lou highlights the importance of the “Most Loved Workplace” designation for recruitment and retention, citing statistics showing candidates are more likely to choose such workplaces. He praises Fogelman Properties for its community service, exemplified by the 60 Acts of Kindness celebrated on its 60th anniversary. These efforts have expanded to 100 Acts of Kindness and 1,000 hours of service.
Mark shares that community service has long been a part of the company’s culture, dating back to the 1970s when his father offered college scholarships to employees’ children. Today, “Fogelman Cares”, an employee-led initiative supporting various national organizations, perpetuates the company’s sense of community.
On its 60th anniversary, the company launched the “60 Acts of Kindness” campaign, which quickly grew as employees across 13 states competed to outdo one another in acts of kindness. The campaign was so successful that it even outranked the business achievements of that year.
Next, Lou mentions the importance Mark attributes to the company’s “fun committee” to drive employee engagement. Lou then asks Mark to elaborate on the rewards, giveaways, recognition, and events organized by this committee, including the annual leadership conference and virtual education. Mark highlights that the fun committee oversees various engagement events, such as “Fog Woman Fridays,” where employees can dress casually, eclipse viewing parties, bowling outings, and baseball games. They also organize monthly and quarterly awards and an annual conference.
Mark notes that in challenging economic times, it’s important to relieve stress and show the human side of the business. The fun committee helps create a sense of community by recognizing employees as individuals with names, families, and milestones rather than just numbers.
Lou asks Mark how Fogelman Properties’ recruitment and onboarding process contributes to its success as a Most Loved Workplace. In response, Mark explains that while the company meets standard expectations in these areas, what truly sets it apart is its focus on corporate culture. Fogelman Properties has a “Culture Card” that all employees carry, highlighting four core principles:
#1 Integrity: Demonstrating a high degree of integrity in everything, especially when no one is watching. This involves being transparent and responsible in all actions, even in small, everyday matters.
#2 Personal Concern: Showing genuine care for each employee as an individual, acknowledging the family and personal life behind each person. This includes knowing employees’ names and celebrating personal milestones to foster a sense of community.
#3 Community Concern: Being good corporate citizens through initiatives like Fogelman Cares, which not only engages employees but also resonates deeply with them, strengthening their connection to the company.
#4 Excellence: Striving to be the best in the industry. Despite emphasizing social welfare, the company remains focused on financial viability, ensuring it is well-prepared to navigate economic challenges.
These four cultural principles are central to Fogelman Properties’ onboarding process and company meetings. In fact, they play a crucial role in attracting, retaining, and enabling the company to thrive.
Moving on, Lou mentions the challenge of maintaining a personal connection with employees as a company scales up, especially for CEOs. He asks Mark how he keeps that personal touch with 600 employees across many properties.
Mark admits that sustaining personal connections has been one of the most challenging aspects of Fogelman Properties’ growth. Reflecting on the company’s journey, he notes that early in his career, the focus was on growth and profitability, but they soon realized that sustainable growth requires people and engagement. As a result, the company consciously decided to restrain its growth to maintain its quality of service and personal connections. This differentiated it from competitors that experienced more rapid growth.
Mark emphasizes that while technology and AI offer ways to scale, there remains a vital need for personal interactions, whether with employees, customers, or investors. He states that experiences like self-checkout at grocery stores can lead to frustration due to the lack of personal assistance.
Similarly, Mark highlights the importance of a personal touch in apartment communities, where knowing residents and their needs fosters a true sense of community. He believes that Fogelman Properties’ differentiator going forward will lie in this personal touch rather than the size of the company.
Lou takes a question from Kerry Gilliam about lessons Mark has learned from his father and grandfather, particularly those that have contributed to making Fogelman Properties a “Most Loved Workplace”.
Mark acknowledges that while every generation evolves, the commitment to excellence and importance of personal connection remains very much a part of the company’s fabric. He shares the story of Miss Sally Robinson, an employee who recently retired after 46 years with the company. She had a deep personal connection to Fogelman Properties, having raised her family within the company’s communities, with multiple family members working for the business.
Miss Sally would proudly express what the company meant to her at company events, even singing “Amazing Grace” to everyone. Mark mentions that this personal touch is something he learned from his father and grandfather, and it remains a core part of the company’s culture.
For Mark and his brother Rick, the personal aspect of the business is the most rewarding part, and it’s central to the company’s success as a “Most Loved Workplace.”
Next, Lou reflects on how maintaining culture has been integral to becoming a “Most Loved Workplace”. He asks Mark how he has managed to stay true to the company’s culture while scaling up.
Mark highlights that the key to scaling the Fogelman culture has been its incredible associates who continue to embody and spread the company’s values. He and his brother Rick rely on their team to manage day-to-day operations. It allows them to focus on broader strategic issues like maintaining and enhancing the corporate culture, which is always a top agenda item in their executive meetings.
Additionally, Mark emphasizes the importance of staying positive, especially during challenging times, and ensuring that positivity is spread throughout the company.
For the brothers, connecting personally with employees is crucial when visiting properties, as “Fogelman” represents not just a family name but the collective culture of employees who see the company as a family. This, Mark believes, is what truly scales Fogelman Properties’ culture and maintains its integrity across the organization.
In his closing statements, Mark addresses his employees and potential new hires, reflecting on the significance of Fogelman Properties being recognized as a “Most Loved Workplace”. He emphasizes the rigorous evaluation process that the company underwent to achieve this award, highlighting that it was largely driven by associate feedback through surveys.
Mark openly acknowledges the industry’s challenges, including high turnover rates. However, he highlights that Fogelman Properties strives to be an employer of choice with retention rates above the industry average. Additionally, he expresses a deep sense of responsibility for the well-being of his employees and their families, underscoring the importance of the company’s benefits, such as 401(k) plans.
Mark concludes by reaffirming his dedication to the workforce. He cites the company’s storied history and recent accolades as evidence of its commitment to a supportive and engaging work environment.
Thank you for your time!
