The woman leading a real estate giant in South Africa

Despite initially having no interest in real estate, Yael Geffen, the CEO of Lew Geffen Sotheby’s International Realty, leveraged her international marketing experience, overcame personal and professional challenges, and transformed the family business into a real estate powerhouse.

The company falls within the broader Sotheby’s International Realty network, one of the biggest realtors in the world, with a presence in 84 countries and territories. In 2024, it oversaw $157 billion (R2.78 trillion) in sales.

Although she is one of the most influential women in South Africa’s real estate industry today, Geffen initially had no desire to join the industry.

Geffen was born into a real estate dynasty. “My grandmother, Aida Geffen, was the doyen of the property industry in South Africa,” Geffen told Daily Investor.

“My father and mother, Lew and Sandy Geffen, followed in her footsteps to open Lew Geffen Estates in 1982.”

The company began as a small, family-owned business but soon emerged as a leader in Johannesburg. In 2000, it transformed into Lew Geffen Sotheby’s International Realty.

“So I was surrounded by entrepreneurial high achievers, which was both inspirational and daunting as it set the bar very high.”

“I spent many hours at work with my parents as a child, and early on, I appreciated the strong sense of loyalty and commitment and the warm ethos that created such a special environment.”

“I also learnt that success in such a company is largely based on the fact that there is a shared vision and end-game to create a legacy.”

However, while she grew up learning about the industry and the family business, she had no plans of becoming a realtor herself.

“I never actually wanted to join the family business and fought it for a long time,” Geffen explained. Wanting to forge her own path, she studied marketing and, once she graduated, headed for the United States.

Although she had only planned to stay for six months, her brief hiatus became an extended six-year sojourn during which she lived and worked in New York and Los Angeles.

Working in the United States

While in New York, Geffen said she was so broke that she did everything from packing shoes in a shoe factory in Astoria, Queens, to being a ticket runner at The Greenwich Film Festival for a South African-produced documentary.

“Then, I was a receptionist at an animation studio called Noodlesoup Productions. I intentionally made the worst pot of coffee on day one so they would never ask me again,” she said.

“After about 6 months, they saw something in me and promoted me to Producer and Business Development, where I sold and produced animatics and TV commercials with national advertising agencies.”

She also worked closely with the animators from Cartoon Network’s animated show “The Venture Brothers” and procured work for the studio for ‘Avenue Q’, a Broadway Musical.

The musical won three Tony awards in its opening year. According to Geffen, it was mind-blowing to work with such creative people.

In Los Angeles, she worked as a strategic planner for Omelet Advertising Agency, working on accounts such as Vivendi Games, Coffee Bean and Tea Leaf, Universal, Microsoft, and the 80th Academy Awards.

Geffen explained that she experienced her “lightbulb moment” while working as the only female manager in New York.

“The guys would toss a football around at every meeting, but they never thought to pass it to me. One day, I asked them to include me, and although they were shocked, they obliged,” she said.

“I realised then and there that although I did want to be accepted by them as a peer, I definitely did not want to be one of the guys – because I’m not. I’m very much a woman, a feminine one with a unique skill set that contributes significantly to any table.”

Joining the family business

“After the first year in the States, my father phoned and said: ‘Lassie, come home’, but I wasn’t ready because I felt I still had so much to learn and experience,” Geffen said.

Six years later, when she finally returned to South Africa to join the family business, she brought considerable global experience.

The lessons she had learned from working in high-powered advertising and marketing firms in the United States made her feel that the time was right to join the team.

“However, I was still expected to start at the bottom as an apprentice, where I was groomed under the guidance of my father and my late brother, Barak.”

In 2017, Geffen was appointed CEO of the company. In this new role, she had many challenges to overcome.

Not only was she the only woman to head one of South Africa’s top four real estate groups, but at 38, she was also one of the youngest CEOs in the industry. ”I needed to prove myself more than my male counterparts,” Geffen said.

At the same time, as the chairman’s daughter, some people suspected that she was only appointed because of nepotism.

“However, aside from my qualifications for the job, it must be remembered that many real estate businesses around the world are legacy companies.”

She also took over the company during a recession as a single mom of a four-year-old. However, as the company’s new CEO, Geffen had to face another significant challenge.

A traumatic time

In August 2016, the former CEO of Lew Geffen Sotheby’s, Jason Rohde, was arrested for the murder of his wife. The pair had been attending the Sotheby’s annual conference at the Spier Wine Estate in Stellenbosch when the event occurred.

Not long after, the company suspended Rohde for an “internal HR matter”. In February 2019, he was sentenced to 20 years in prison.

Geffen, who took over as CEO at the height of this tragedy, had to find a way to steer the company through this difficult time.

“It was a very traumatic time for most of our network and our clients, and we were certainly under the spotlight with our Global Big Brother,” she said.

“It was key to separate the event from the company as quickly as possible because most brands experience a crisis at one time or another.”

She explained that Lew Geffen Sotheby partnered with the best crisis communication team, which advised them on every move.

“We did not run away from the incident or slip it under the rug. That’s where brands make mistakes. We acted with integrity and transparency, and as a result, we bounced back quite quickly.”

The road ahead

“Basically, all the odds were stacked against me,” Geffen said. “But through observing, listening and creating my own authentic, immersive leadership style, we actually had the best financial year last year to date.”

Today, there are over 30 Lew Geffen Sotheby’s offices serving South Africa. The Sotheby’s group has also been growing, reaching $157 billion (R2.78 trillion) in sales in 2024.

“I am lucky that I do not get flustered by challenges or chaos, and I am naturally very solution-oriented,” Geffen explained.

“I am also a strong proponent of not pretending to know everything and engaging with my staff and franchisee principals often to get to the right decision.”

Geffen still faces some challenges. When it comes to being part of a family business, she has had to learn to keep emotions separate from business decisions and leave lifelong communication habits at the door.

“This is why my father and I always try to call each other by our first names at work. We do slip up now and then, but referring to him as Dad or my parents calling me by my nickname, Dux, in a room full of staff isn’t ideal.”

While she and her father, like any family, have their moments, she said it’s important to remain respectful and walk away when things start to become personal.

Apart from being a CEO, Geffen is a sought-after keynote speaker and has received many accolades. This includes winning Woman of Statures CEO of the Year in 2023, which she said was one of the proudest moments of her career.

Going forward, Geffen explained that she hopes to grow the company’s national footprint while remaining the premier luxury real estate brand in South Africa with a strong focus on agent and client experience.

“My favourite investment in myself and my son is travel, so that is always on the cards to experience new and foreign places,” she added.