Joining PURE created more opportunities for our team to grow and greater opportunities for our clients to access resources and ultimately get better services.
My name is Eric Wetherington, and I’m the Vice President of Strategic Initiatives. This means that I’m responsible for maximizing revenue per door and recognizing and identifying innovative products and services for our owner clients and renters. I’ve been in the real estate industry for over 25 years, starting, acquiring, and managing dozens of companies. I’m a serial entrepreneur, currently owning four different businesses outside of my role within PURE.
I grew up on the west coast of Florida, earned a Bachelor of Music degree as a vocal performance major, and bring a unique background to the already wonderfully diverse team at PURE.
I moved my family to the Charleston, South Carolina area in 2007. I’ve always been driven and inspired by different industries. Currently, I run four other businesses. PURE is one of many, providing me an opportunity to play a role in the executive team and help grow and shape the industry-leading national property management firm.
When I moved to Charleston, I was involved in a large real estate company that asked me to come on board and help them start a property management company. That was the impetus for Carolina One Property Management which eventually evolved into New Heights Property Management over the years.
I had never really been in the property management space, more of the real estate broker arena, but I had been around financial services and real estate industries for a long time. I’d also started and been involved in a lot of startups with a lot of force behind them. I figured I could learn quickly; property management wasn’t rocket science or brain surgery. So I said yes.
Working with national leaders in the industry like Mike and Jennifer Newton has been incredible. They genuinely create a national stronghold for a property management company.
I’ve been in this business for over 25 years. I run two title insurance companies, an insurance company targeted at rentals and a SaaS sales and leadership product. I also earned my Master Property Manager (MPM) and Residential Management Professional (RMP) industry designations.
When my first property management company launched in 2008, I didn’t know much about the industry. I knew I could learn quickly, so I started finding resources to help me grow. I struggled for a time until I came across the National Association of Residential Property Managers. The closest chapter to me was in Atlanta, Georgia, 4 hours away. I decided to join and drove down for my first meeting.
I didn’t know anybody, but they took me in as family when I walked into that room. I was introduced to everybody, and each shared how they found success in their offices and operations. I took away great value from being part of NARPM and was hooked. I decided later on that I wanted to give back and looked into leadership roles.
In 2015, I was elected to the National Association of Residental Property Managers (NARPM) board and served as the Southeast Region Vice President, National Treasurer, and President-Elect.
Thanks to NARPM, I met Mike Catalino. He embodies the three characteristics that business author Peter Lencioni says you should look for when joining or bringing someone onto your team — humble, hungry, and smart. I’ve known Mike for years now and have watched him tackle an industry desperate for a change for the better. His drive to scale his local success brought us together, a group of rockstar industry leaders working to create the best property management company in the country.
I decided to join PURE because we realized that changes in the industry were seeing more consolidation and growth of larger-scale property management companies. We wanted to be in the early stages of that wave versus joining at the end of the cycle.
Sometimes it can be challenging to visualize this concept, but we’re going to try. Somewhat thanks to the current events of the past couple of years, at least seven-plus trillion dollars of quantitative use were unleashed. The market is awash with capital, and it’s creating this wave of value extraction.
Now imagine small fragments of property management companies out on their surfboards in motion. Everyone can look out and see a massive wave coming, and the smart ones will start paddling their hardest to catch that wave because it’s a value extraction wave. Others might hang back, waiting to see what the next wave might bring, with or without the knowledge that there might not be a next wave.
The property management surfers who are catching this wave know they have one of two options, catch the wave or be obliterated. Now, most people don’t love the idea of a big business coming and taking out the little guys, but that’s not what PURE is. PURE isn’t Wall Street, extracting value back to Wall Street, distributing it to shareholders, and leaving destruction in its wake. PURE is built from this industry for this industry — to make it better for everyone, including the owners, renters, investors, and property managers.
The industry is transforming, and there’s no way to stop it. You can catch the wave because you know you’ve got a good business on your hands, and you want to extract value on your terms. Or you can not catch the wave, be humbled by it, and look around after it’s passed, saying, “What just happened here?”
I decided to catch the wave early. And I was thankful that I found a safe place to land with a team of experts from the industry who are committed to making the world a better place. And that’s not just platitudes; it’s true.
Joining PURE created more opportunities for our team to grow their careers and greater opportunities for our clients to access resources and ultimately better services because we’re part of a larger network across the country.
"We're building a team of industry stars. And it's not just property management, it's people in technology and marketing and finance as well. And this great team has come together, building on each other's strengths, to make the world better."
As someone who loves music and earned a degree in music, I like to compare PURE to a full orchestra performance. Say the French horn comes in, laying out the theme, the idea. Then you have the trumpets and trombones joining to build on that theme. As you add more and more instruments, you’re also adding complexity but also beauty from these different parts that bring together the whole. That’s how I view PURE. We’re creating this team of the greats, of industry superstars. Not just property management industry stars but also stars in marketing, finance, tech, and more.
We’re building on each other’s strengths, creating this great story or a concert that you walk away from saying, “Wow, that is amazing.”
One of the most exciting things about being a part of PURE Property Management is that these people I’ve known and had relationships with for years now are all together. I get to talk to them daily about real-life business issues we’re facing and transforming together.
Take, for instance, Ashley Fidler, Vice President of Product Development. I didn’t know her from NARPM. When I first talked to Ashley, I learned of her vision for building a best-in-class property management technology. I was blown away by her past experiences and her drive to bring that experience to property management. From a technology standpoint, property management is lagging. Some bits and pieces exist, but it definitely hasn’t grown with the industry.
Being on a team with people with a shared vision and drive is incredible, but what’s even more incredible is that every single person brings a unique skill set that makes us better. That’s what it’s like being a part of PURE.
The reality is most single-family rental properties all across the country are unprofessionally managed. PURE is setting the bar to a level that hasn’t been reached before by any other property management company. We’re focused on simple, satisfying experiences to have better relationships with owners and renters, providing them a level of service they're totally unaccustomed to experiencing in property management.
Frankly, I think we’re going to be the best in the country and maybe even the best in the world if we expand beyond North America.
PURE Property Management holds real estate brokerage licenses in multiple states.
15495 Los Gatos Blvd #9, Los Gatos, CA 95032 · CA DRE #02124826 · View our State Licenses
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