When you’ve been in the CRE industry for a while, you encounter certain myths and pieces of bad advice that just won’t go away. This week, we reached out to brokers to find out the one thing that keeps being passed around as truth—but simply isn’t so. Here’s what they had to say:
Apto Founder and Chief Strategy Officer Tanner McGraw was recently at DisruptCRE Chicago to talk to brokers and other tech leaders about what they’re seeing in the industry.
It’s no secret that technology is reshaping the way CRE professionals work and opening the door to new opportunities. So Tanner moderated a panel on the different technology tools optimizing and advancing transactions throughout the lifecycle of buildings from all different asset classes.
As a broker, you spend your life striking up conversations with potential clients—whether it’s on the phone with a prospect or in line at the coffee shop. And if you’re one of the good ones, you know exactly how to keep the conversation going from that first hello to that first deal.
There’s a lot at stake from the very first words you use, which is why we asked brokers what they like to do to spark a connection and keep things flowing. Here’s what they had to say:
What’s the best marketing idea you’ve tried this year?
We’re always on the lookout for fresh ways to help you expand your business, so this week we asked several successful brokers for their go-to marketing strategies. Here’s what they had to say:
When it comes to commercial real estate brokerage, I’ve been on both sides. I was a broker for 10 years and experienced a lot of the same frustrations with process and technology that brokers still feel today. That’s what led me to build my own tech, and eventually launch Apto.
I’ve also met a lot of fascinating people over my years as both broker and entrepreneur, and I would be remiss not to share those stories with the larger CRE community. That’s why I’ve started this podcast series, “Common Area,” so other folks in the industry can learn from these successful brokers.
Coy Davidson is a Houston-based broker who has been in the commercial real estate business for 27 years—and he still enjoys it! These days he focuses on healthcare, as well as tenant representation for businesses.
He’s well aware that how companies found space 20 years ago is archaic compared to what they do today. Clients expect more because there’s someone out there providing more--and brokers have to keep up. He notes: "As I've seen technology start to make its way into the CRE industry, really the people that are succeeding are the people that are bringing new efficiencies.”
Learn more and see how Coy gets a competitive advantage by watching the video below.
We don’t think there’s a single broker out there with a perfect track record. Along with the wins, of course, everyone has had their share of losses. But top brokers know that there’s no point letting a loss go to waste—you might as well learn from it. Sometimes things fall apart no matter what you do. But other times, you look back and think, “OK, next time I’m playing this differently."
We asked brokers across the nation to tell us about the deals they’ve lost and what they learned from them. Here’s what they had to say:
How many times have you gotten completely shut down by someone on a cold call?
There are certain biases and misconceptions about commercial real estate brokers out there. Some you may find based in reality, while others probably seem unfair. Yet for those who take the high road, work hard, and operate with integrity, getting blamed for others’ misconduct or laziness can be infuriating.
At Apto, we’re lucky enough to speak with commercial real estate professionals at the top of their game every day, and it’s the stories we hear from them that inspire us. Here’s how some of these brokers prove the stereotypes wrong.
Maggie Ham is a senior project manager at Apto. She has helped brokerages of all different sizes find success with our technology. We sat down with her to learn what makes an Apto customer successful, and what practices can ultimately sabotage a technology roll-out.
Maggie focuses on CRM, and it’s important to note that this needs to be set up right to take advantage of our prospecting and mapping tools. It’s your data, and it needs to be organized so you’ll take action on it! Here’s how to get set up for success.
Jules Hochman of Denver-based Pinnacle Real Estate Group leads a six-person team within his firm. With four brokers, a transaction manager, and an executive assistant, they’ve found a niche in multifamily and retail.
He’s been in the business for a couple decades, and the biggest change he’s seen is the rise of technology. Now, he acknowledges that “as a broker, you always want to do more business, and without technology you can’t.”
Fortunately, he’s found a tool that gives his team more time and lets them get more transactions done.