RVP CORNER
INSIDE IREM
FAMILY VALUES
IREM Regional Vice
President Chip Watts,
CCIM, CPM, gives his
perspective on working
with family, tornadoes
and returning home
CHIP WATTS,
CCIM, CPM, IS
PRESIDENT OF
WATTS REALTY
CO., INC., AMO,
IN BIRMINGHAM,
ALA. HE
CURRENTLY
SERVES AS THE
2011 AND 2012
REGIONAL VICE
PRESIDENT
FOR REGION 5,
WHICH INCLUDES
IREM CHAPTERS
IN ALABAMA,
ARKANSAS,
LOUISIANA AND
MISSISSIPPI.
Watts Realty Company, AMO, is a fourth
generation real estate management company.
Are there any common themes your family has
seen through the years?
My father and grandfather always said, “No mat-
ter how good or bad the economy is, people will
always need a place to live.”
result of working in a family business. My peers
and customers know that if there is a problem,
it’s always better to present all the facts up front
and vice versa. Clients, customers and peers
learn to like us because they know they can trust
us. We’re going to give you our honest assess-
ment—you may not like it—but you can count
on us for the truth.
How has your role in the family business colored
your role as RVP?
Working with family brings a level of transpar-
ency to everything we do. We’re very honest
with each other even when we don’t want
to be—we don’t have a choice. There are no
boundaries; and, while this can be challenging,
it can also be a good thing since we never sweep
problems aside.
While I love to have fun, my approach is
honesty first, feelings later—which is certainly a
Describe some of the challenges your
region faces.
In late April, we suffered a tornado outbreak
in our region, specifically in Birmingham, Ala.,
where my office is located. Tornado damage will
bring in short-term cash flow from construction
work, cleanup efforts and an influx of tempo-
rary workers, but the tax base is gone for now
and residents have been forced to relocate. Still,
Southerners have a “close-to-home” mentality.
We might go someplace else for a while, but
we always come home. Being close to family is
key. n
