Engaging the right broker can be the first step toward making a smart real estate decision. This idea is reminiscent of the hit movie Moneyball, where Brad Pitt’s character disrupts conventional wisdom by applying rigorous data analysis.
Interestingly, decisions in commercial real estate often seem less about data and more about intuition. However, a new generation of commercial real estate brokers is changing this narrative by servicing America’s top companies with a data-driven approach.
Mahlon Apgar, IV of Boston Consulting Group, in his Harvard Business Review article, ‘What Every Leader Should Know About Real Estate,’ highlighted that executives often feel overwhelmed by commercial real estate (CRE) decisions.
Here’s a summary of his insights:
- Gather data on your real estate
- Pay a premium for flexibility
- Embrace sustainability
- Engage a competent broker
A survey by Cardinal Partners reveals how brokers are typically chosen, with responses such as “The broker started calling on us ten years ago, and we kind of like him”, or “There was a beauty contest, and we went with the biggest firm.” But does the choice of broker really matter?
Indeed, it does. The right broker can save you 20% on facility costs and provide the clarity needed to navigate complex decisions. Let me introduce you to one such power broker, Andy Zezas, from New Jersey. He embodies all the stereotypical New Jersey traits – loud, hard-driving, and self-assured. But he also brings to the table qualities like:
- Sociability and outgoing nature
- Meticulous preparation and data collection for clients
- Innovative approaches and solutions
Andy’s impressive client list, accrued through cold-calling, his books, and a TV show he hosts, is a testament to his prowess.
So, how do you find your own ‘Andy Zezas’ outside of New Jersey? If you’re seeking a broker relationship where you feel they’ve over-delivered and underpaid, here’s a resource:
‘Go For Broker: An Executive’s Guide to Hiring a Broker for Today’s Complex Deals’ is available on Amazon.
Navigating the commercial real estate landscape can be daunting, but with the right guidance, you can build a successful relationship with a commercial real estate broker. ‘Go For Broker’ provides nine invaluable tips and inside information on the commercial real estate brokerage game.