Leading Voices in Real Estate
Rick Caruso | Founder and Executive Chairman of Caruso
Oct 23, 2023
Rick Caruso, founder and Executive Chairman of Caruso®, discusses his evolution in the real estate business, creating unique retail properties like The Grove. He emphasizes the importance of excellent customer service and creating a positive guest experience. The chapter also explores his expansion into apartments, hospitality, and office building ownership. Additionally, it highlights his involvement in public service, addressing homelessness, and his philanthropic work in healthcare and education. Valuable advice for young people entering the real estate industry is shared, along with the role of innovation.
53:59
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Quick takeaways
- Providing excellent guest experiences is crucial in the real estate and retail industry, emphasizing the need to create profitable platforms that prioritize guest engagement.
- Combining different types of businesses in outdoor settings can lead to the creation of vibrant lifestyle centers that prioritize guest experiences and offer a mix of retail, entertainment, and amenities.
Deep dives
The Importance of Guest and Customer Experience
Rick Caruso emphasizes the significance of providing excellent guest and customer experiences in the real estate and retail industry. He explains that while the customer (such as Nordstrom or Tiffany) is his client, their customers are the guests who visit the properties. Caruso highlights the importance of creating a platform that allows clients to be profitable and engage their guests, while also focusing on delivering a great guest experience through elements like greetings, aesthetics, and amenities.
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