NREI Brokerage Survey Results

This post originally appeared on tBL Marketplace Partner member Rod Santomassimo’s Massimo Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.

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Earlier this month, Beth Mattson-Teig wrote a six-part series on the “Spotlight on Brokerage” for National Real Estate Investor’s online magazine. The series starts off exploring the recent wave of commercial real estate consolidation, the challenges of this consolidation on the parties involved; dives in to broker migration and adaptation; and concludes with the prediction of future consolidation.

Back in the late 1980’s there was the “Big Six” of accounting firms. I believe they are down to 2, or is it 3 today? Likewise, as of today, we have the big six of commercial real estate firms – namely:

  1. CBRE

  2. JLL

  3. Cushman & Wakefield

  4. Colliers International

  5. Newmark Grubb Knight

  6. Eastdil

According to Ms. Matson-Teig’s article, the market is generally split if this consolidation will have a negative or positive impact on the industry.

Likewise, this series suggest that the number one challenge of consolidation is merging corporate cultures. No surprise here. We are fortunate to have clients in every major national, regional and local commercial real estate brokerage firms. Those impacted by this latest wave of consolidation express the same as the primary challenge.

Another finding of this brokerage survey is, for those that responded, a full-service company is the most preferable firm to work for, while franchises came in as the least preferred. Our experience is a little different. For example, during our first years of offering coaching services to the brokerage industry, most inquiries came from independents figuring out how to compete with the big nationals. Over the last several years, this has shifted to national brokers asking how to compete with the more nimble independents.

To make this easy for you, we have added a link to each of these articles.

The National Real Estate Investor is required reading for any commercial real estate professional. My only regret is that this NREI brokerage survey did not disclose the number of respondents to produce their findings. Was it 200 or 20,000? Were they all located in major markets or were the respondents regionally dispersed? Obviously their findings will be skewed based on these answers.

So what do you think – will the Big Six, become the Big 2 or 3? Who will remain? Let us know.

About Rod Santomassimo

Rod Santomassimo has written 45 post(s) in this blog.

Rod N. Santomassimo is the founder and president of the Massimo Group. A Certified Commercial Investment Member (CCIM), Rod possesses more than 25 years of commercial real estate industry experience, a solid financial background and a proven growth track record that has repeatedly led to increased individual and company revenue. The Massimo Group is North America’s leading coaching and consulting organization focused on the commercial real estate community. The team’s combined 250 years of commercial real estate industry experience and proven growth track record has repeatedly led to increased individual and company revenue. The firm’s clients include representatives from almost every international and national commercial real estate firm, and scores of regional and local firms. Prior to creating the Massimo Group, Rod led the international brokerage firm of Sperry Van Ness, serving as Executive Vice President. During his tenure Mr. Santomassimo was responsible for the general oversight of the organizations franchise operations and the productivity of its 800 advisors and for the successful transition of the company’s corporate offices to its largest franchisee. Rod was also responsible for the development and implementation of the company’s new franchise training programs as well as SVN’s continued education platforms. Rod earned a Masters of Business Administration from Fuqua School of Business, Duke University, in Durham, North Carolina. He also earned a Bachelor of Arts in Commerce from Washington and Lee University in Lexington, Virginia. He is a featured guest lecturer at the Fuqua School of Business. Rod is a two-time recipient of the Duke University, Fuqua School of Business Impact Alumni of the Year Award based on his work with both graduate students and alumni in Building a Personal Brand and Creative Approaches to Secure Greater Client/Prospect Opportunities. Rod authored Brokers Who Dominate, 8 Traits of Top Producers. This book was launched in October 2011 and quickly became the best-selling book in the commercial real estate brokerage industry on Amazon.com. Follow Rod on Twitter @massimogroup.