Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.
Issue link: http://cire.epubxp.com/i/923123
CCIM.COM January | February 2018 33 demonstrate not only my product knowledge about inventory and location, but also shows my clients important demographics and why certain cities are critical for future growth," says René Nelson, CCIM, owner of Pacwest Commercial Real Estate in Eugene, Ore. Hand credits the Institute with giving him the tools to be successful as a small business. "CCIM delivers products right to your doorstep that make you special," he says. "You just have to invest the time to understand how to use them. The technology and training allow you to have a more meaningful conver- sation about meeting the needs of prospective clients as opposed to just charging the lowest commission." In the Bay area, Tran uses STDB for creating list- ing presentations and infographics for marketing materials for his prospective and current clients. By presenting data, facts, and figures, the STDB tools show his business understands the economy and local marketplace. "STDB gives us an edge when we are going after listings that larger firms also are chasing," Tran says. Opening Doors When Nelson decided to become a commercial real estate broker, she evaluated her options, such as join- ing a big firm, becoming a franchisee, or opening a boutique real estate firm. "It was important for me to make my own decisions regarding the market share I wanted to target, and the processes I would use to reach those prospective clients," Nelson says. She decided to specialize in multifamily proper- ties and earn the CCIM designation quickly, so her firm could compete with the large companies. In 2017, new tenant relocation laws in Oregon pushed to grow nationally and working with the developers of mixed-use real estate to seek out restaurants as project amenities. "Now restaurants are the draw into the mall; they are the new department stores," says Graul, owner of Innovation Concept Associates in Reston, Va. "Restaurants are a fun business with fun people, but I'm happy to be on the commercial real estate side of it. I feel like I'm really good at what I do, and I enjoy ap- plying my skills." After 20 years, 90 percent of Graul's business is referrals. He serves as an adviser for developing restaurant concepts to expand nationwide and for the mixed-use developers that want to attract them. CORPORATE CLIENT NICHE. A 30-year veteran, Kathy Mulgrew, CCIM, made the leap to starting her own business in 2005 as the outsourced corporate real estate department for companies nationwide. "My business is a fusion of commercial real estate, corporate real estate, and business strategy devel- opment, with a focus on operational excellence," says Mulgrew, CEO at Spencer Consulting in Dallas. Her company doesn't perform transactions, so it hires bro- kers in the markets where her clients want to lease office, retail, or warehouse space. Companies hire her firm to develop and execute corporate real estate strategies, including site selection, space planning, and project management. Mulgrew has a team of five experts, including herself, to sup- port every aspect of the corporate real estate process. "I get up every day and do something different," she says. "I enjoy work- ing with diverse people and varied companies every day." Niche businesses often flourish in major cities. But those in smaller markets can find a specialty, which can grow nationally and even globally. many multifamily investors to sell their properties through the Internal Revenue Code Sec- tion 1031 exchange into single-tenant retail properties, which "required no involvement with tenants, toilets, or trash," according to Nelson. Since then, she has helped her clients buy proper- ties nationwide and worked with brokers in multiple states. Her CCIM designation allowed Nelson to reach out to national brokers and find inventory that was not on the market but was available for purchase. Looking back over 25 years of heading up his own business, Larsen says, "The hallmark of success is being able to do intensely meaningful work, with coworkers you love to work with, in an environment of mutual respect. You can do that best if you work for yourself. You can create the environment you want, and the work ethic you demand through your own example." At its essence, the CCIM designation is recog- nized within the industry. "Since I earned the CCIM designation, it has helped me strengthen my business by separating me as a top industry professional and a recognized industry leader," Koenigsberg says. The Institute's community provides entrepre- neurs with the same network as large companies to find deals and capital for their clients. Belonging to CCIM gives them the technology and operational infrastructure to launch and develop independent businesses rivaling major commercial real estate companies. Sara S. Patterson is executive editor of Commercial Investment Real Estate.