While I’m not a real estate broker by trade, I certainly relate to the entrepreneurial spirit many brokers embody. Since co-founding Reonomy, a commercial real estate data company, I’ve cut my teeth on commercial real estate (CRE) and learned its complexities inside and out. Based on my continued interactions with brokers to better understand and solve their pain points, it’s clear the recent democratization of data has had a strong hand in the advancement of their careers. Here are a few additional takeaways to help you navigate the turbulent waters of CRE…
In his Broadway show, which is now streaming on Netflix, Bruce Springsteen talks about the magic of the blank page. He laments that getting older means there are fewer blank pages to experience. While that may be the case, I would argue that few people have done more with the blank page than Bruce.
“You didn't have to love me like you did
But you did, but you did
And I thank you.” – Sam & Dave
It didn’t always feel like love, but over the last twenty years, I have had a lot of help along the way. In this post, I would like to take the opportunity to thank a few of the key people along the way.
This week marks my 20th anniversary in real estate. Twenty years. Wow.
My career has been, in a word, amazing. It has provided me so much more than simply the ability to pay the bills (and more) and take care of my family. I have met some of the most important people in my life through the business, including mentors, friends, and my ex-wife.
Earlier today, my name was included in the press release announcing the see funding raised by HqO which totaled $6.6m. This isn’t my first tech investment, but it is likely the first time my name was actually included in the press release.
I’ve been waiting. I’ve been asking. Frankly, I wasn’t that patient. Finally, CRETech released its 2018 Mid-Year Report earlier this week.
I look forward to each CRETech report because it’s a comprehensive look at where we are and the companies I should be paying attention to, but it’s also shows how far we’ve come. I have read each report and tracking the progress of the industry is exciting.
It’s been over a month since Super Bowl LII, one of the more exciting big games in recent history. While I am not a fan of either team, especially not the Eagles, I often find myself thinking about the two quarterbacks. They each shared, what I consider to be, important lessons in the aftermath of the game.
Scott Rosen is the leader of our gang. He is my cousin by marriage, brother by choice, the chairman of our tailgate, and one of my heroes because of who he is, what he has accomplished, and how he lives life.
We are a month into 2018 and the prediction articles have slowed down, so I figured I would weigh in. Here are my thoughts about who will win in 2018 in a few key areas within corporate real estate.
Late last year, my great friend Rob Fisher sent me a book called The Go Giver by Bob Burg. The book’s subtitle is A Little Story About a Powerful Business Idea which immediately intrigued me. I don’t remember where or why he found it, but he said that the message in the book reminded him of me. At the time, I had recently started reading so I put it next on my list and a year later, I am still glad I did.
I was lucky enough to see Springsteen on Broadway recently. Everything you have read about it is true. My favorite quote about the show comes from Oprah Winfrey who said, “It was the most searingly beautiful performance I’ve ever seen a person give. You come away feeling more like a human being.”
“I skate to where the puck is going to be, not where it has been.” Wayne Gretzky
The quote above, while perhaps overused, comes to mind when I think about how Fifth Wall Ventures is approaching their fund. We were lucky to have Co-founder and Managing Partner Brad Greiwe join us recently for a small client event.
From the time I was a kid until my mid-30’s, I was a big fan of Sports Illustrated. It would arrive every week and I would typically read it from cover to cover. There were a few special issues throughout the year that peaked my interest, but nothing more than Sportsperson of the Year. It would include a huge feature on the person that they chose every year that impacted sports in a positive way. The issue would also provide a year-end perspective on sports, allowing you to look back on everything that happened in the past 12 months.
Last week, I attended the CRE//Tech event in Los Angeles. While I flew 3,000 miles to be there, the journey started over a year ago.
It started with a simple phone call to my friend, Pierce Neinken, the founder of what was then called CRE//Tech Intersect. I explained to him that I was hoping he would partner with Michael Beckerman and The News Funnel to take it to the next level.
Last month, I left behind a 19-year career in office leasing. My team was clicking on all cylinders with great corporate accounts, a strong local tenant rep practice and over 5m sf of landlord agency assignments. As I mentioned in my last post, I felt it was time to make a change so I joined the Capital Markets Team.
Have you ever had an impossible client? Someone who wasn’t happy with any of the results you produced? Someone who worked you tirelessly, but wanted more and wasn’t ever satisfied?
If you read my blog on a regular basis, you know I am obsessed with the idea of driverless cars. I have frequently said that I will be among the first to own one when they become available, and my hope is that my children will never need a driver’s license.
My parents were VERY excited that I made Duke Long’s Updated 2017 Top 150 Commercial Real Estate People You Must Connect With On LinkedIn. It’s fun to be included, especially when you see the other 149 people on the list and when you consider its curator.
My nine-year old daughter had a softball game earlier this week. She pitched the first inning for her team, and while her control wasn’t her best, she also wasn’t getting any help from the umpire. Coaches from both sides shook their heads as the 15-year old umpire called several pitches down the middle as balls.
According to an article today which I found through The News Funnel, IBM has issued an edict that all employees in certain divisions must either abandon their home work spaces and relocate to a regional office. If not, they can find another job with another company. Interesting news considering IBM sells products that enable people to work from anywhere at any time.
I skim a lot of articles. Hundreds a week. Some are worthy of reading while others aren’t. Then there are a select few that I read multiple times to make sure I retain the information.
This past weekend, I read an article on Inc.com about career advice from the CEO of Microsoft, Satya Nadella. The headline of the article promised that it could all be summed up in one sentence. I skimmed forward and looked for the lesson, which may sound simple, but is really brilliant.
Imagine driving up to a building, holding up your phone and being able to see the stacking plan, ownership information, asking rental rates and any other information typically available. The owner could even put a sign on the building with a tenant’s logo or name before a space tour.
Earlier this week, I was lucky to be in the room for a presentation made by Andy Cohen, Co-CEO of Gensler, on driverless cars and their impact on real estate. Frequent readers of my blog know that I am passionate about this topic and friends and family have heard me say countless times that I will be the first person they know to buy an autonomous vehicle.
Last week, my partner, Matt Wassel, shared some of his views on the challenges facing young brokers and why millennials may be shying away from a career in real estate. His piece was widely read and I hope it’s a wake-up call to the industry at large.
If you didn’t read it, I highly encourage you to do so. My key takeaways were:
- We don’t recruit on college campuses the same way other industries do.
- Lack of consistent training.
- Senior brokers aren’t trained to be managers.
- Commission/draw compensation from Day 1.
Matt Wassel, an atypical millennial (he not only knows what a comma is, but knows how to use it), started working with us almost four years ago. He has become an integral part of our team and is also the unofficial editor of NeuerSpace. Last month, we were discussing the results of the recent survey by TheBrokerList titled 2016 DNA of #CRE and he wrote the guest post below in response.