Home Real Estate Perspectives CEO of UnitedHealth Group Speaks to REX staff

CEO of UnitedHealth Group Speaks to REX staff

by Eric Rothman
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Guess Who Visited REX? [Second in the series]

Bill McGuire, Chairman and CEO of UnitedHealth Group

REX is attracting some of the most innovative and successful people on the globe to its mission of transforming the residential real estate space and improving the world. 

Bill McGuire, credited with turning around UnitedHealth Group has been a supporter and an investor in REX. He recently spoke to the startup team at REX about competition and growth.

A Leader In Healthcare
William “Bill” McGuire, M.D. is best known for his tenure as chairman and chief executive officer of UnitedHealth Group from 1991 until his resignation in 2006. He also owns Minnesota United FC, Minnesota’s professional soccer team.

Goodbye MLS. Hello REX.
REX was founded to change the way people buy and sell homes. REX takes care of everything both buyers and sellers need while removing traditional agent commissions of 5-6%.

REX delivers full service, better outcomes, easier customer experiences, and does so with 30% fewer days on market and 80% less cost.

REX’s data-driven marketing goes around the MLS to reach buyers directly using technology and proprietary algorithms to target real, live homebuyers on places like Zillow and Google. Learn more at rexhomes.com.

Full Video Transcription:

Jack Ryan:
We have the opportunity of a century going after this massive industry where service levels are not terrific, the prices are really high, and we have a great strategy, we have a great set of people, we have a great culture, terrific tactics.

We have the financing in place, and we have guys like Bill, and Marty, and Dick to help us, who they, themselves, have taken businesses from nothing and made them worth billions, and billions, and billions of dollars. So to get that kind of advice as we grow is just so valuable.

And then Bill McGuire, who I’ve also known for 25 years, joined United Healthcare when it had about, I don’t know, $50 million of revenue. It was losing $100 million a year.

And took it from there to $75 billion in market cap. So it was the best performance for that 15 year time other than Steve Jobs, for that 1990 to 2005, 2006 period.

Jack Ryan:
So we couldn’t have better people who care about our company. We’ve done it before. You gave us good advice along the way as we try to replicate those successes.

Bill McGuire:
We looked at this as what’s wrong and how can we make it better? We know as people that many of us have bought and sold houses. We don’t like it, it doesn’t necessarily work well.

Doesn’t feel like the value proposition. I think if that’s the driving principle, then that’s what ultimately will be successful here. And I think that’s what’s of interest with this. And when you can do that and when you believe in it, which is the other thing, do something that you enjoy that you think you’d make a difference, that you’re doing something well, success comes.

And so the reason some companies do well is they figured out how to provide value. And as Dick just pointed out, when you provide value, people find you, they’ll find you. I mean, you’ve got to have the tools and you’re developing the tools, but the word gets out and the big people will either adjust or they won’t.

And most situations they don’t because it’s not easy. That’s the reason so many small entrepreneurial, innovative companies are bought these days by large companies because the big companies are not in the business of innovating. They’re in the business of protecting what they have. That’s their business.

Jack Ryan:
I think you guys can see how they got to be so successful and why we’re so grateful they’re spending time working at our company. They obviously very, very smart people.

They work extremely hard. Both companies started with a purpose, strong purpose, just like we have, so hopefully the many similarities to the two of you. I think one of the best things is, as you probably have noticed too, is what down to earth people, Dick and Bill both are, which we strive to be at our company too.

They’ve been with me essentially been good times and bad times and good times again, et cetera, and have never wavered in that sentence. I typically call it, if you can look at, you look at triumph and disaster and treat both imposters just the same.

That’s the way these guys have been their entire life. And I can’t be more thankful to have you guys as friends, as advisers, as mentors, as guides. So thank you so much for both of you, for all the help you’ve given me, just not now but over the course of your life. So thank you.

Bill McGuire:
Welcome. Thank you, thanks for having us.

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