Legacy, values, and the next generation: Building enduring businesses

Succession in the mortgage industry is more than a family affair and indeed, Michael Weber didn’t plan on joining the family business. With a background in broadcasting, he returned home in 2002 to join the brokerage his father founded three years earlier. Now at the helm, Weber is preparing to pass the mantle to a third generation - and thinking critically about what makes a brokerage last.  

Passing down values, not just ownership  

"I was fortunate to grow up in a family grounded in strong values," Weber said. "Those values shaped how we treat people and how we run the business."  

For Weber, defining and articulating those values has been key to continuity. "They’re not just words on a wall," he said. "We talk through decisions in light of those values so the reasoning is clear."  

This approach isn't about sentimentality. In an industry facing rising rates, shifting buyer demographics, and growing digital competition, values serve as a framework for adaptability. "Industry knowledge alone won’t navigate change," Weber said. "Temperament and mindset matter more."  

Relevance is earned, not inherited  

That generational handoff is already underway. Weber's son, after working outside the company for two years - a family rule meant to instill external perspective – is now learning the business.  

"We wanted him to know what it means to have a boss before working for the family," Weber said. "Now, the question is: can he shape the company to stay relevant for his generation?"  

Relevance, Weber argues, can't be inherited. "Legacy is about reputation. But relevance must be earned anew. I've benefited from my father's reputation, but it's on us to maintain it, and evolve it."  

Community commitment as a strategic priority  

That includes how the firm engages with its community. Twice a year, the brokerage partners with nonprofits whose values align with its own. The visits serve both social and strategic purposes.  

"It helps our team see beyond mortgages," Weber said. "Community engagement isn’t just goodwill. It reinforces who we are."  

He believes a firm's role in the community should be built into its business planning. "If it’s not in the budget, it won’t happen consistently. We commit financial resources and time to it," he said.  

Those line items reflect a broader cultural philosophy that he sees as critical to longevity. "You can't only bless others when you're being blessed. Consistency matters."  

Preparing the next generation for ambiguity  

The challenges of passing down a brokerage are compounded by the speed of market change. Technology, regulatory shifts, and client expectations are rewriting the playbook in real time. Weber sees adaptability as a character trait as much as a strategic skill.  

"We ask ourselves: Is the next generation wired to handle ambiguity? Are they wired for change? These are personality questions as much as business ones," he said. "If they’re not curious or driven to solve problems, that’s a bigger issue than any interest rate change."  

Within that complexity, Weber sees a simple truth: continuity is intentional. And that intent must be shared.  

"Too many businesses fade because the next generation doesn't care," he said. "You can't manufacture care. But you can cultivate it by showing the why behind every decision."  

For brokers considering their own succession plans, the message is clear: reputation may open doors, but relevance keeps them open. And in an industry shaped by both trust and transformation, the strength of a brokerage's legacy will depend on whether the next generation is ready to lead with both.