Category — Rants

My question today is a simple one: What’s your vision for the future and what are you doing about it? Much has been written about surviving the downturn – what to do now, the “new normal” and other tips for how to navigate current market conditions. And while I certainly have no gripes about being in the moment from a tactical perspective, I’m concerned that as an industry we don’t lose sight of the value of looking forward. In today’s post I’ll share my thoughts on the importance of looking forward.

Are you a commercial real estate specialist or generalist? As the CEO of one of the country’s largest commercial real estate firms, I’ll share with you that your answer to the aforementioned question is very telling to your peers, clients and employers alike.  Your answer will have a direct impact on your credibility, earning power and your ability to survive market volatility over the long-term.  In today’s post, I’ll weigh-in with my opinion on the age old debate of “generalist vs. specialist.”

By now it should be no secret that I’m a big fan of social media. The statistics validating social media’s ability to positively impact performance more than serve as adequate evidence that commercial real estate professionals should be actively engaged in social media marketing. That said, not a week passes where the naysayers and apathetic scoff at social media as if were just a waste of time. If today’s post seems like a bit of a rant, it’s because it is…In the text that follows I’ll share a few brief thoughts in an attempt to reason with those still not switched-on to the many benefits of social media.

As the first few weeks of 2010 pass, business owners, executives, employees, and consumers alike are watching for emerging trends, which will test the accuracy of the 2010 prognostications posited by various industry experts.  While it may be too early to tell, there have been some signs, signals and even M&A transactions which point to industry consolidation and corporate restructuring among brokerages in the commercial real estate industry.  This is likely to continue throughout the year.

Today’s post may be short in length, but I hope you’ll agree that it is powerful in terms of content. I’m not going to pontificate about the state of the current market, nor am I going to prognosticate on where I believe the market will trend in 2010. What I am going to do is pose the following question: “What will YOU do differently in 2010?” You cannot simply repeat your 2009 performance in 2010 and expect the outcome to be any different. The message today is a simple one…The market doesn’t matter, but YOU do!

I am passionate about learning…In fact so much so, that I believe that staying ahead of the learning curve is what keeps you relevant, interesting, engaging, and a few steps ahead of the competition. Show me a person or an organization that doesn’t embrace learning, and I’ll guarantee you that the only thing they excel at is failure. It is continued personal and professional development that allows people and organizations to maintain relevancy. You simply cannot adopt a static approach to a fluid market and expect to succeed…it won’t work. A focus on learning not only prevents static thinking, but it fosters innovation. Perhaps most importantly, learning and development form the core of any successful talent management strategy. In today’s post I’ll examine the link between learning and relevance.

Today’s post is meant as a reality check for all commercial real estate advisers slugging it out in the toughest market conditions we’ve experienced in this generation. To the chagrin of many, the text that follows is harsh, but it is nonetheless true. Great brokers always produce…Don’t tell me what type of producer you were during the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital markets, and transactions just seemed to almost close themselves. Rather, show me what type of producer you are today. You see virtually any broker can put-up record numbers during good times, but the real question is what can they do when the market is getting crushed? As the CEO of one of the nation’s largest commercial real estate firms I’m pleased to say that the majority of our advisors already understand what I’m addressing in the text that follows, but for those that don’t, here’s a gut check for you…

There is little debate that current commercial real estate market conditions are rough…so rough in fact, that many formerly well thought of brands have not survived the downturn. Regrettably, there will be more casualties before we see the proverbial light at the end of the tunnel. While I’m sympathetic to those who have suffered emotionally and financially as a result of the times we’re in, the harsh reality is that their suffering has less to do with the state of the economy, and much more to do with how they chose to operate their businesses. In the text that follows I’ll shed an uncomfortable, but accurate light on what has become an altogether too common excuse…the economy.