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Coldwell Banker Commercial®
The news magazine for The CBC professional
issue number 2
BACK TO BASICSPresident and COO
Rick Davidson discusses
the importance of returning
to fundamentals
CBC MarketwatchCBC professionals offer current updates as to what’s happening in their markets
PLUS: Local Office ProfileMeet the Fort Worth, Texas CBC affiliate
also in this issue
the
an interview with
alexander sachs 2007 Sales
Professional of the Year
03ISSUE NUMBER 2 The Insider
>> CBC Monitor What’shappeningat Coldwell Banker Commercial®
PresIdenT’s noTeWelcome to the second issue of
The Insider, the Coldwell Banker
Commercial® magazine.
As we had mentioned when we launched The Insider in early 2008,
this magazine is a professional grade publication that educates as well as
entertains. We’re happy to report that this issue continues that philosophy
with interesting profiles of affiliate Searcy Vasseur in Fort Worth, Texas and
Kyle King, our Senior Vice President of Strategic Growth. We’ve even profiled
one of our top International affiliates.
In addition, we always include timely articles designed to help today’s
commercial real estate professional. In particular, I’d like to highlight a feature
that I wrote for this issue encouraging CBC professionals to “get back
to the basics” in the current economic climate. Though some of this
information was shared earlier in a video message I distributed in late 2008,
it’s important enough to emphasize once again. It’s been a challenging
market for all of us over the last year and no one can be quite sure what the
future holds. But there are simple, time tested ways of staying ahead of the
game, and we’ve highlighted some of them in this issue.
We hope you will enjoy what’s included in this latest issue of the Coldwell
Banker Commercial Insider and we plan on continuing this initiative for many
issues to come. As always, we encourage all of our professionals to offer
comments on The Insider and even future story ideas.
rICk davIdson President and COO
ConTenTs
02 President’s Note
03 CBC Monitor
08 CBC Marketwatch
11 CBC Office Profile
14 Commercial Matters: Getting Back to Basics
18 Innovations
20 CBC Executive Interview
22 CBC International
Office Profile
23 CBC Resources Spotlight
edITorIal sTaff
editor-In-Chief Tom Nolan
staff Writers Jason Silfies, Rick Davidson, Tim Dimond, David Birnbaum, Andrea Timer, Fred Schmidt
layout and design BCS, Inc.
Printing Bell Press
Questions or comments about The Insider may be sent to: [email protected]
© 2009 Coldwell Banker Real Estate LLC. Coldwell Banker Commercial® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Each Office is Independently Owned and Operated.
WWW.CBCWorldwide.com was named a 2008 Official Honoree
of the 12th Annual Webby Awards, considered the “Oscars of the
Internet.” The Webby Awards are the highest honor a website can
receive and www.CBCWorldwide.com was recognized as one
of the year’s top sites in the Real Estate category. To put in
perspective how significant an honor this is, the Webby Awards
received over 10,000 entries from more than 60 countries in
2008 — of these submissions, fewer than 15% were deemed an
Official Honoree.
On the heels of the Webby Award, the CBC organization was
recognized with a coveted RealComm Digie Award for Best Use
of Automation, Commercial Brokerage. Digie Awards are
bestowed on the most forward-thinking leaders in the real estate
industry who exemplify the tenets of thought leadership and
innovation. CBC was awarded this prestigious honor for the design
and introduction of its new technology platform, which includes
the CDX, www.CBCWorldwide.com and www.CBCBlueprint.com.
CBC was recognized above all the major competitors in the industry.
In addition to prestigious industry awards, the CBC Interactive
Marketing Team was recently featured in a video testimonial
and case study by Microsoft for its use of MS Virtual Earth,
an advanced mapping technology, on www.CBCWorldwide.com.
Being handpicked by Microsoft as an example of best practices
in use of technology is a true testament to the CBC leadership
position in the technology realm.
resourCes ThaT GeT resulTs The CBC Marketing Team has created some highly targeted
business guides to help affiliates present a thoroughly researched,
well-branded campaign when pitching new business and
marketing new property listings. The guides (available in several
formats) include:
• Win Business Proposal Template
• How to Create a Marketing Package Template
• How to Create a Marketing Splash Guide
• How to Thrive in a Challenging Market
These guides will aid in creating strong marketing packages to
help CBC affiliates win new business, and market the property
effectively once the business has been won — a valuable
differentiator for any CBC affiliate.
MarketingUpdate:technologythatMattersThe Coldwell Banker Commercial® organization provides its affiliates with some of the
real estate industry’s most impressive and advanced technologies, and in recognition
of this leadership position, CBC has been acknowledged numerous times with coveted
industry awards.
toputinperspectivehowsignificantanhonorthisis,theWebbyawardsreceivedover10,000
entriesfrommorethan60countriesin2008—ofthesesubmissions,fewerthan15%weredeemedanOfficialHonoree.
inparticular,i’dliketohighlightafeaturethatiwroteforthisissueencouragingCBCprofessionalsto“getbacktothebasics”inthecurrenteconomicclimate.
>> CBC Monitor What’shappeningat Coldwell Banker Commercial®
04 The Insider ISSUE NUMBER 2 05ISSUE NUMBER 2 The Insider
Numerous CBC professionals have volunteered to be “Bigs”
in their local communities, while others have donated their time
and pledged funds at BBBS gala dinners, silent auctions and
bowl-a-thons.
CBC President and COO Rick Davidson — as a result of his extensive
support of the organization — was the 2008 Honoree at the BBBS
of Morris, Bergen and Passaic County’s Annual “A Celebration
of Big Magic” Gala Dinner in Parsippany, New Jersey. Rick was
recognized for his contributions to the organization both through
being half of a “Big Couple” and for devising and executing
impressive fundraising initiatives, including the Climb for Kids’ Sake.
For the second year in a row, Rick led an adventurous climbing
expedition known as the Climb For Kids’ Sake to raise money for
Big Brothers Big Sisters. This year the team scaled Mount Rainier
and Mount Adams from September
20th – 25th and raised over $20,000.
The climbing team included the
following CBC professionals:
• Steve DuBrueler, Coldwell Banker
Commercial Capitol Realty,
Winchester, Virginia
• G.G Galloway, Coldwell Banker
Commercial Benchmark,
Ormond Beach, Florida
• Brad Jubin, Coldwell Banker
Commercial Terra Firma,
Peachtree City, Georgia
• Steve Maygar, Coldwell Banker
Commercial Trademark Properties,
Raleigh, North Carolina
• Brenda Kay Ramm, Coldwell Banker
Commercial Alfonso Realty,
Gulfport, Mississippi
GeT InvolvedNot everyone can climb two mountains back-to-back, but
there are many other ways to get involved and show your
support for BBBS. If your organization (or you personally)
are interested in getting involved in BBBS, there is a directory
of BBBS agencies available on www.CBCBlueprint.com.
GeT reCoGnIzed To further support the volunteer work that CBC affiliates do
on behalf of BBBS, the CBC Awards Team has created a new
award — the Big Brothers Big Sisters Award — that will honor
the one affiliate company that has put forth an exceptional
effort in supporting the BBBS organization. More information
on the award is available in the 2008 Awards Brochure as
well as on www.CBCBlueprint.com.
The Big Joy of Mentoring KidsSince becoming the national charitable partner of the CBC organization in 2007,
the Big Brothers Big Sisters (BBBS) organization has been embraced by affiliates
nationwide, as well as the CBC corporate team.
The 2008 Coldwell Banker
Commercial Climb For Kids’ Sake Team.
theColdwell Banker Commercial®organization'srenowned Emerging Broker Training (EBT) program continues its
reign as the industry’s preeminent new broker education program,
giving rise to the future CBC stars of tomorrow.
The four month program of blended training graduated two
classes in 2008, including 31 students in June and 40 students
in October.
A new EBT class is scheduled to begin in early 2009. For all those
interested in applying for acceptance into the EBT program,
applications can be found on the Commercial University site,
available via an electronic link on the Blueprint homepage.
The CBC Learning Department has also recently launched an EBT
“Best of” video compilation called the Commercial Concepts
Collection. This seven part online, self-paced video series contains
some of the most valuable material from EBT and is the closest
thing to actually experiencing the popular program first hand.
It’s also ideal as a refresher for any EBT graduate. The program
can be purchased online through Commercial University.
Emerging Broker Training Still the best in the industry
The June Coldwell Banker Commercial EBT Graduating
Class (above). Four students from the Summer 2008 EBT
Class, celebrating their official graduation (below).
Three GCCs CBC is bringing the GCC to our affiliates
asmostaffiliatesareawarebynow,in order to
help alleviate the financial burden on our franchisees,
the CBC organization has reorganized the Global
Conference that was slated for San Antonio in early
2009 to instead host three individual conferences
throughout the year.
The Global Commercial Conference (GCC) has always
been the premier annual forum for Coldwell Banker
Commercial® (CBC) affiliates to collaborate, participate
in educational sessions with top industry specialists and
to honor our top professionals. However, the CBC
organization is sensitive to the current economic
climate and the difficult market all of our affiliates are
facing. So instead, the decision was made to convene
three regional conferences each covering a different
region of the US: a Western Region GCC, a Central
Region GCC and an Eastern Region GCC.
The CBC Events Team is hard at work preparing for
these exciting events, which will be slated for:
• April 15 – 17 in Chicago, Illinois
• May 16 – 17 in Las Vegas, Nevada
• August 15 – 16 in Orlando, Florida
Each will be identical to the national conference,
including educational sessions, awards ceremony,
industry speakers and networking opportunities —
but they will be held in large “hub” markets, which
means significant savings in airfare and related travel
expenses as well less time spent outside the office.
In addition, the CBC organization scheduled some of
these conferences on dates close to popular industry
events that many of our professionals regularly attend
(such as the Las Vegas ICSC show) in order to save
even more travel expense money.
Further information about the events are available on
Blueprint. Look forward to seeing all of our
professionals there.
06 The Insider ISSUE NUMBER 2 07ISSUE NUMBER 2 The Insider
>> CBC Monitor What’shappeningat Coldwell Banker Commercial® CBCprOfile:
alexanderSachs2007 Number One Global Sales Professional of the Year
What property sectors or industries do you specialize in? My primary focus is on institutional development opportunities —
most of it has been urban infill but I’ve also done some
repositioning of existing assets as well.
Which region within los angeles do you specialize in? I concentrate primarily on the Westside of LA and have closed
several deals within the region’s Miracle Mile, Hollywood and the
Marina Del Rey sections.
Alexander Sachs was the 2007 CBC Global Sales Professional of the Year and is also featured on the cover of this latest
CBC Insider. Alex is a Senior Vice President with Coldwell Banker Commercial® WESTMAC in Los Angeles and has been
with the firm for seven years, having moved over from the entertainment industry. The Insider sat down with Alex for
a brief Q&A:
What was your biggest transaction over the last year? My biggest transaction was a deal I closed with JPI for a property
located at Hollywood & Highland in Hollywood — a very high
profile Class A multifamily site to be known as Jefferson at
Hollywood. The property is currently under construction
and will have 271 units with about 10,000 square feet of retail
upon completion.
What’s your overall take on the la commercial real estate market? Long term it’s going to continue to be strong. But the current
market has made it very difficult to get entitlement approvals,
which means that there is always a limited supply coming online.
anything to add about the Coldwell Banker Commercial WestMaC team or working for CBC in general? The WESTMAC office is comprised of a good group of people with
a solid work ethic. The associates here understand that this is a
business where what you get out of it correlates exactly with how
much time and energy you put into it. The CBC organization has
really helped in terms of “brand awareness” both with local and
institutional clients. Moving forward I believe it will be necessary
for the company to become a much bigger player on the
international front. We need to build corporate relationships
with the major money players in the Asian, European and
Middle Eastern markets. The money is still flowing in from
those areas and it’s very difficult to tap into.
BringingintheBusinessThe Global Client solutions Team
Whenaskedwhat the Coldwell Banker
Commercial® corporate team can do to
help their businesses, almost universally
our affiliates said they need as many deals
and new business prospects as we can
generate. So within the last year, the
Coldwell Banker Commercial organization
has made a concerted effort to secure
as many new business opportunities
as possible for our affiliates through the
Global Client Solutions (GCS) group.
The members of the GCS team are on the
ground and on the phones every day
diligently pursuing new opportunities and
recently secured two major new business
prospects that will benefit the CBC
network across the country:
Coldwell Banker Commercial now has an exclusive
partnership with Kumon, the
number one ranked children’s
franchise, to provide real estate services for new and existing
Kumon franchisees. CBC will serve as business advisors and
assist all Kumon franchisees with finding retail space for new or
relocated centers, market analysis, and strategic planning.
Kumon has more than 1,800 franchises in North America and
26,000 worldwide. Created in 1958 by Toru Kumon, a Japanese
math teacher, the Kumon method focuses on daily practice
and self-paced advancement to improve children’s math and
reading skills.
CBC has been named
the exclusive provider of
real estate transaction
services for Tax Services
of America, Jackson Hewitt’s corporate-owned franchisee, which
operates more than 1,000 locations nationwide.
In this role, CBC will serve as exclusive real estate advisor to
Tax Services of America, assisting with identifying and leasing
new locations, as well as disposing of non-performing locations.
CBC will work closely with Tax Services of America’s team to
meet its goal of opening 300 new locations per year, in addition
to handling the disposition — via early lease termination or
subleasing — of those retail locations already identified as
non-performing.
“Kumon and Jackson Hewitt represent the type of major national new business accounts our team is capable of generating.”—fred sChmIdT, Senior Vice President, Global Client Solutions
08 The Insider ISSUE NUMBER 2 09ISSUE NUMBER 2 The Insider
CBC MarketwatchtrendsintheregionalMarkets
being actively pursued by developers. We have a similarly
favorable supply/demand balance in the industrial sector. Our
Office market has softened slightly, but it’s still healthy. If we have
any area where new construction may have outpaced demand to
a degree, it is in the retail sector, but even there we don’t see
projects likely to fail, only slower lease-ups than projected.
What is your office doing to position itself to take advantage of the current local market conditions?First, at Coldwell Banker Commercial Hathaway Group we’re
focusing on fundamentals. Better communication, better service,
and a “partnering” mentality with our clients all serve to retain
and capture business when uncertainty spreads in a market.
Next, we’re strategically positioning ourselves through
assignments to broker large leases. Some types of sales activity
have slowed, and small businesses are waiting things out, but
large blocks of office and industrial space are shifting from user
to user through defensive subleasing and through smart
expansions by companies not feeling the “CNN recession.”
Finally, as we must from time to time, we’re recognizing that the
relative value of a listing has gone down, while that of a tenant
or buyer representation assignment has gone up. We are
aggressively pursuing exclusives with qualified users, and being
more selective in the properties we represent.
is there anything else of importance to note about your market?During the past 18 months, we’ve had three large, new industrial
employers locate in the Little Rock area with needs for skilled
labor, and that was followed recently by the announcement of a
major new Hewlett Packard installation,
so we have high quality jobs being
created here. At the same time, we had
pretty good discipline in creating new
property supply during the last up-cycle,
so we aren’t burdened with any
significant over-building effect.
Our mantra in Central Arkansas has
always been “We don’t Boom, but we
don’t Bust either!” It may sound like a
timid approach when things are really
cooking elsewhere, but it sure feels good
in times like these.
JeffHathawayPresident, Coldwell Banker Commercial Hathaway Group, Little Rock, Arkansas
What’s the anticipated market environment in your region for next year?We’re expecting continued stability
in Central Arkansas for the
foreseeable future. While there is a feeling of uncertainty and
even nervousness among many market participants, we think this
is a result of the national media’s portrayal of the economy and
the news we often hear about other markets, and is not
supported by the market realities we experience here day to day.
Our local economy has a built-in strength from balance, diversity,
service sector orientation, and the fact that we are the “center,”
both literally and figuratively, of the state. Yes, we’ve seen signs of
stricter financing requirements, slowing rental rate growth, and
sidelined investors, but our firm’s actual flow of activity — inquiries,
assignments, contracts, and closings/leases — has not slowed.
are there any property sectors in your region that are expected to either continue to do well or even improve during the remainder of the year?Multifamily is performing well and poised for new growth. With
the dysfunctional residential market replenishing renter demand,
and with very little new apartment construction having occurred
here recently, rents and occupancies are up and available sites are
WilliamOstlundPresident, Coldwell Banker Commercial Griffin Companies, Minneapolis, Minnesota
What’s the anticipated market environment in the twin Cities for next year?The Minneapolis/St. Paul market
is expected to remain relatively
slow due to the national and local economic uncertainty.
Multifamily will experience continued activity and Senior Housing
should expect to remain strong with the service-intensive part
of that industry performing the best. Office may improve moving
forward but it will be slow. Local retail and industrial will remain
generally in a holding pattern. Despite the economic times,
higher-end retailers and lower-end discounters could exceed
their expectations.
are there any property sectors in your region that are expected to either continue to do well or even improve during the remainder of the year?Expect Multifamily and Senior Housing to continue doing well.
Although Office will remain slow, some improvement could result
from those users needing to commit to long term space in order
to execute future business plans. Local retail and industrial will
remain generally in a holding pattern. Despite the economic
times, higher-end retailers and lower-end discounters could
exceed their expectations. Also, urban retail will make some
inroads where the demographics make sense.
What is your office doing to position itself to take advantage of the current local market conditions?We pride ourselves at Coldwell Banker Commercial Griffin on
being “client focused” rather than “deal driven.” The table is
turning back towards our investment clients who remained on the
sidelines locally and nationally. More of our Coldwell Banker
Commercial Griffin resources are being deployed to secure and
operate performing and growing assets for our clients. The
combination of our 40 year history in this primary market along
with our recent affiliation with Coldwell Banker Commercial is
broadening our ability to earn new business and expand our
service to our existing clients.
is there anything else of importance to note about your market?The difficulty of securing equity and debt will cause some sense of
urgency for strong projects to get deals done in the short term.
Little Rock, Arkansas
reportsfromthefieldThe CBC Insider polled CBC affiliate offices in the Southeast, Midwest and
Pacific Northwest for a snapshot of their local commercial real estate environments.
Here’s what each had to say about what’s happening in their regions.
Minneapolis, Minnesota
10 The Insider ISSUE NUMBER 2 11ISSUE NUMBER 2 The Insider
CBC MarketwatchtrendsintheregionalMarkets
“theMultifamilyandSeniorHousingmarkethasbeenverystrongoflate,primarilyduetorisingrentsandagingdemographics.” —eThan offenBeCher, Vice President, Coldwell Banker Commercial Offenbecher “We were proud of the local prominence we had established, but we’re even
more proud of the fact that we had now positioned ourselves for the future through our affiliation with Coldwell Banker Commercial.” —J. searCy, President, Coldwell Banker Commercial Searcy Vasseur
As well, medical office buildings have seen an upswing in growth
and newer projects are looked at as trophy investments. This is
especially true if they are located on hospital campuses and have
physicians who are tenants as well as investors.
What is your office doing to position itself to take advantage of the current local market conditions?Coldwell Banker Commercial Offenbecher has positioned our
office as asset managers, consulting with Landlords and Sellers
about the changing market conditions. As an asset manager,
our clients look to us to remain competitive on listing price and
keep deal volume up and vacancies down.
We have had a long-term relationship with the local medical
community and hospital system (MultiCare). We have recently
been awarded a 100,000-square-foot on-campus medical office
building as developers, leasing agents and property managers.
We are finding that economic conditions are such that a lot of
talented professionals are considering making a career change.
Thus, we have been actively recruiting several commercial real
estate professionals to position our office with a team culture for
strong growth as the market rebounds in the coming year.
is there anything else of importance to note about your market?The Seattle/Tacoma market is somewhat sheltered from the
market volatility of large spikes and deep valleys as compared to
other areas of the country. This is due in part to big industry such
as Microsoft and Boeing and great quality of life in the Northwest.
ethanOffenbecherVice President, Coldwell Banker Commercial Offenbecher, Puyallup, Washington
What’s the anticipated market environment in your region for next year?We expect the market in the
Northwest and specifically the
Seattle/Tacoma area to remain slow in transaction volume.
The turmoil in the financial markets has made financing deals a
real challenge, yet there are still banks lending on quality projects
with credit tenants and experienced investors and developers.
The Retail and Industrial sectors have had a strong run over the
last 5 – 10 years; however we have seen a real slowdown in both
of these markets in the second half of 2008. In Retail, big box
anchors are focused on seeking “A” sites with great demographics
and traffic counts.
are there any property sectors in your region that are expected to either continue to do well or even improve during the remainder of the year?The Multifamily and Senior Housing market has been very strong
of late, primarily due to rising rents and aging demographics.
Puyallup, Washington
CBC Office ProfiletexasCommercialrealestateStars
ExCEPTIONAL LOCAL REPUTATION
Searcy Vasseur Group shaped its reputation through 40 years
of learning the “ins and outs” of commercial real estate while
developing an understanding of their marketplace that can only
come from years of working within it. It’s an extraordinarily
difficult task for any business to sustain success across several
generations, but the professionals of Coldwell Banker Commercial
Searcy Vasseur Group have invested heavily in maintaining its well
regarded reputation.
J. Searcy, current company President and son of Byron Searcy,
chalks up the success of the company to the attention
to detail that is put into each project they are involved in.
“Our understanding of the market and ability to make the right
recommendations based on our client’s specific needs has
attracted businesses to our firm for years,” he notes.
Up until 1998, the company remained as Ferree and Searcy until
Charles Ferree sadly passed away. Soon after, the company would
merge with another local firm and became Kelly Geren and Searcy.
But in 2005, the firm was approached by Coldwell Banker
Commercial to join as an affiliate. By this time, several bigger
competitors including Staubach, CBRE, and NAI had already been
established in the Dallas/Fort Worth area.
hey also understood that to be successful in
commercial real estate, you must have an
understanding of the local market coupled with
a passion for delivering on client promises.
Soon after, the two would join forces and formed
what was at the time the only commercial real estate company in
the entire Fort Worth, Texas market. Over the next several
decades, the business that began as Ferree and Searcy, a modest
two person firm, grew into one of the most successful commercial
real estate firms in the Dallas/Fort Worth Metroplex.
Four decades later, that firm is still going strong as one of the
most recognized businesses within Tarrant County, located in the
north central part of Texas. But today, the company is known as
Coldwell Banker Commercial Searcy Vasseur Group. And although
the name has changed, its stellar local reputation has not.
So how did this successful local firm become a thriving part of a
national company network? It’s owed all to a simple but forward
thinking business approach that supports the fundamental belief
in superior client servicing while understanding the need to
embrace changing markets.
ColdwellBankerCommercial®SearcyVasseurDallas/Fort Worth, Texas
In 1962, local Texas entrepreneurs Byron Searcy and Charles Ferree saw an
opportunity within their local region to capitalize on a growing and totally underserved
commercial real estate market. Noticing the recent crop of diverse and growing
businesses within their region, they realized the overwhelming need for a quality
commercial real estate firm to service the area.
T
12 The Insider ISSUE NUMBER 2 13ISSUE NUMBER 2 The Insider
within the organization, and while each is considered a generalist,
they collectively boast an abundance of extensive commercial
real estate experience between them. And while he is not against
bringing on professionals new to the business, Searcy prefers
those with several years under the belt. “We certainly encourage
organic growth within our firm, but given the choice, I would
rather bring on seasoned pros who understand the business
rather than hiring those new to the industry.”
Now that they’re fully entrenched into the CBC family, Searcy likes
the feeling of being a part of a bigger organization. He has been
pleased that the CBC corporate team is always supportive,
especially when it comes to driving business and offering advice
on day to day business issues like commission splits. But what he
appreciates most of all is that corporate does not tell them how to
run their business. “We like the fact that we can still manage our
company the way we know how.”
THE FUTURE
Within the last two years, J. Searcy was invited to become a part
of the prestigious Coldwell Banker Commercial Advisory Board,
a role he has come to enjoy. The board represents some of the
top owners within the network and each member’s role is to help
steer the CBC organization towards the future and assist with
making sure the voice of affiliates in a particular region are heard.
And in keeping with the theme of always looking towards the
future, the Searcy Vasseur Group recently began a National
Petroleum Real Estate Division. Just like when it started,
the company identified another underserved market as no one
in the commercial real estate industry was specializing in
petroleum related real estate. This new division is specifically
designed to handle the sale and acquisitions of gas stations,
convenience stores, truck stops, travel centers and refineries
on a national level (see sidebar story, right.)
So what does the future hold for Searcy Vasseur Group?
Searcy notes he plans on continuing the growth of the company
and is excited about the prospect of the new Petroleum Division.
Fortunately, the Fort Worth market has shown continued growth
over the last several years, which bodes well for future success.
But just as they did over the first four decades, Searcy Vasseur
Group will look to carry on and face head on any future
challenges by always staying ahead of the curve.
The leadership within the company began to consider a
partnership with a national industry player. While they had their
local market covered, they needed a national presence that would
give them the opportunity to expand their business beyond its
local roots, as well as gain access to the kind of marketing tools a
larger company could provide.
So their courtship with CBC began; and while the company came
away impressed with the organization after its initial series of
meetings — including a VIP tour in Parsippany, New Jersey — this
was not a decision to be considered lightly. Ironically, J. Searcy
asked to speak with some current owners within the network
to get their feedback and received some particularly good advice
from the owner of the local DC affiliate — a gentleman named
Rick Davidson.
“Not sure if Rick even remembers, but he and I spoke briefly
about our company joining and he encouraged me to consider
the move,” notes Searcy.
MAKING THE MOVE
But soon it became clear to the company that the CBC
organization offered what they wanted: securing that national
partner but with the ability to maintain its independence and not
risk the local reputation it had taken years to foster. So in 2005,
they officially became part of the CBC organization.
Searcy notes, “We were proud of the local prominence we had
established, but we’re even more proud of the fact that we had
now positioned ourselves for the future through our affiliation
with CBC.”
Since that, the company has risen to top of the ranks within the
Coldwell Banker Commercial network. Becoming Searcy Vasseur
Group in 2007, the company is currently a full service commercial
real estate agency, with a particularly strong background in office
and industrial. They run the gamut regarding the kind of clients
they represent, managing everything from small 2,000 square
foot office leases to clients with over one million square feet of
industrial space.
The company has maintained steady growth over the last few
years and while the number of sales professionals within the
company has remained the same, their gross commissions have
increased significantly.
In fact, Searcy Vasseur’s strongest asset still remains their
experienced team. There are currently nine sales professionals
CBC Office ProfiletexasCommercialrealestateStars
The Coldwell Banker Commercial Searcy Vasseur team
of professionals.
Capitalizing on an underserved market within commercial
real estate, Coldwell Banker Commercial Searcy Vasseur
Group developed and recently launched its own National
Petroleum Real Estate Division, the only one of its kind within
the CBC organization.
This specialized Petroleum Division was created and
developed to handle the Sale and Acquisitions of individual
and portfolios of Truck Stops, Travel Centers, Gas Stations,
Refineries and all other petroleum related properties on a
national level.
The Petroleum Division is under the direction of Bob Giovanni
who serves as National Coordinator. Bob is one of the few
brokers in the country who specializes in the petroleum real
estate brokerage field and is a part of 10 professionals with
over 250 years of cumulative experience. The Group is able
to collectively leverage the strong business relationships that
it has established within the Petroleum Community in order
to match qualified Buyers with Sellers through a controlled
and highly confidential process in all 48 contiguous states.
The Division has its own web site found at
www.petroleumrealestate.com that includes key market
data and opportunities for potential Buyers and Sellers.
Furthermore, hundreds of Truck Stops, Travel Plazas, and Gas
Stations are actively researched, seeking to find the most
lucrative deals for both Seller and Buyer clients.
The Group focuses only on the most lucrative opportunities
in the industry. In fact, due to the extensive review process
that is utilized, only about 5% of the properties considered
actually pass through to the final review stage. Bob Giovanni
explains, “The majority of properties we agree to market are
usually under Letter of Intent within 30 days or less.”
Giovanni further states, “Within this specialized industry,
we offer what other brokers and agencies do not — we locate,
thoroughly evaluate, and only present the most lucrative
opportunities available on a national scale for a select clientele.”
The CBC Vasseur Group invites all its CBC Colleagues
to register any Petroleum-related Buyers and Sellers
within this specialized Division, via their website at
www.petroleumrealestate.com. You may contact them
via direct phone at 817-335-7575 x227, or by email
Searcy Vasseur Group’s Petroleum Real Estate Division
Commercial MattersStrategiesfortoday’sCommercialprofessional
gettingBacktoBaSiCS
revisitingthefundamentalcommercialrealestatestrategies.
BY RICK DAVIDSONPresident and COO, Coldwell Banker Commercial®
17ISSUE NUMBER 2 The Insider
Commercial MattersStrategiesfortoday’sCommercialprofessional
The current economic environment is certainly one of the most
challenging we have ever seen. Even just recently, we have
seen dramatic stock market swings, the unprecedented collapse
of long-standing, leading financial institutions and severe
restrictions on available credit. All of these events are having an
adverse effect on the fundamentals of virtually every industry
and commercial real estate is no exception.
Cold Calling and CanvassingThese are extremely effective ways to uncover
opportunities while simultaneously learning more
about the market and market activity. The reality is
that many prospective clients have not focused on
their real estate requirements and a well placed call
or visit to discuss market dynamics may be exactly
what they need to hear.
Provide Expert AnalysisAnalysis should always be part of your standard
practice when it comes to your clients. You should
routinely conduct a SWOT Analysis to help your
client determine their Strengths, Weaknesses,
Opportunities, and Threats. This assessment will
determine the direction a company must take in
order to ensure their business remains competitive
and the type of value-added service that will help
you become your client’s “trusted advisor” —
someone who is mindful of their business and fully
understands their market opportunity.
Client CommunicationRemember, our clients are
operating in the same
business and economic climate as we are and
they are looking for sound, practical advice for
their real estate needs. It’s as important as ever
to be consistently visible to your clients. In this
environment, there’s no such thing as over
communicating. Remember, if you’re not
communicating with your clients you can be
certain that your competition is.
6
2
3 NetworkingWe all know that commercial real estate is a relationship-based business. There is no better time than now
to be networking with professionals from other industries and establishing cross-selling opportunities.
Get out in the market and leverage business and civic organizations in your region.
Know Your Competition and Measure UpBeing aware of what your competitors
are doing allows you to differentiate yourself and
your firm. You should be in constant connection with
the market and have a full understanding of your
competitor’s skills and services.
Leverage the PlatformYou need to remember that you are part of a global organization that provides multiple resources to help
drive business even in the toughest of economic times. If leveraged properly, the value of this platform is
immeasurable. Pick your head up out of your cube — look at the market from a macro perspective and
leverage the CBC platform to benefit your clients and your business. There is no time like the present to come together
as a company and build upon the market value that Coldwell Banker Commercial delivers.
Grow Your Existing BusinessRemember also that a client’s needs
may not just be in your local market —
they may have other locations they need
assistance with. Ask the question. One effective tactic
is to ask for the opportunity to review their entire
portfolio of real estate holdings and then offer to
analyze and evaluate their needs at no cost.
5
8
Integrate Your ServicesThere are many ways to stay one step ahead during
these times. You should recognize that your clients
have more than just transactional needs. Look at
each client and determine the full range of services
they need and how to integrate additional services in
the process. For instance — on the ownership side —
you can help the client reposition their asset, manage
the property, improve operating efficiency and drive
additional net income, while determining the market
timing for eventual disposition. It’s all about providing
action-oriented solutions.
ColdwellBankerCommercialnrt,Baltimore,Md
ColdwellBankerCommercialCra,St.louis,MO
including its state of the art mapping and aerial photography for
property listings.
This represents one of the most significant components of CBC
President and COO Rick Davidson’s stated “One Voice” strategy,
in which each affiliate company within the CBC organization
conveys a standardized appearance in all their initiatives.
“We’ve offered a powerful new resource for the entire CBC brand
that will generate a consistent and uniform message from all our
affiliates worldwide,” notes Jason Silfies, Vice President of
Marketing and Technology for Coldwell Banker Commercial
Affiliates. “Equally important is the fact that affiliates can
practically eliminate expensive web design costs and the need
to constantly upgrade the technology and
tools on their site. Put simply, the Local
www.CBCWorldwide.com initiative enables
each CBC affiliate office to focus on what
they do best: service the client.”
19ISSUE NUMBER 2 The Insider
Innovationsthefuture,today
CBC MarketConnect is the CBC-hosted public website that any
commercial real estate professional (and potential client) can visit
for current market insights, including:
• National, Regional and Sector Specific Info, including Niche Markets
• Industry Articles
• Market Reports
• Competitor’s Reports
What makes CBC MarketConnect different from anything else
in the industry is the niche market expertise that CBC
professionals provide.
And every CBC professional can benefit from providing content to
CBC MarketConnect. Contributing to the site allows you to:
• Control your personal marketing — differentiate yourself from
other brokers in your market and establish yourself as a subject
matter expert
• Increase visibility of your company/team among your current
and prospective clients, employees and among the media
through search engine traffic and optimization
• Garner additional publicity for your office overall
CONTRIBUTING TO MARKETCONNECT IS EASY
Visit www.CBCMarketConnect.com to familiarize yourself with
the site and its featured content. Send us your original content —
market reports, forecasts, commentary — as often as possible.
Visit the Blueprint Library MarketConnect section for more
information on contributing to the site, including a short
questionnaire to help in creating original
content, as well as a MarketConnect
flyer to distribute to all your office
professionals. With the contributions of
all our CBC professionals, MarketConnect
will be a powerful resource for the
commercial real estate industry.
localWorldwideCBC incorporates the power of its award-winning national website into
localized affiliate sites.
MarketConnectBetalaunchIn early July Coldwell Banker Commercial® launched its new content site
CBCMarketConnect.com in beta release. This is the third component in the CBC
organization’s new technology platform, which encompasses company Intranet
Blueprint and public website CBCWorldwide. n September 2008, Coldwell Banker Commercial®
announced the release of a new website management tool
that allows each affiliate company to create localized
versions of the award-winning national corporate
commercial real estate website www.CBCWorldwide.com,
all at no cost to CBC affiliates.
The aptly named “Local Worldwide” project is one of the most
highly anticipated initiatives ever introduced to the CBC network.
Each CBC company now has their own new website mirroring the
overall look and feel of the award-winning www.CBCworldwide.com
website, yet with a customized appearance representing their
particular market. Hosted on the CBC corporate server, the new
local sites offer all of the same features of the national site,
I
Samples of some of the most recent websites
created through the Local Worldwide initiative.
MarketConnect home page seen here,
which includes local reports as well as
industry info and trade publication
news feeds.
kyleking Coldwell Banker Commercial® Senior Vice President, National Strategic Growth
The Insider sits down with Senior Vice President of National Strategic Growth Kyle King
to discuss the current and future state of Coldwell Banker Commercial organization’s
continued national expansion.
20 The Insider ISSUE NUMBER 2 21ISSUE NUMBER 2 The Insider
Welcome to the family
Over the past few months Kyle and the Coldwell Banker Commercial Strategic Growth team have welcomed several new top regional firms to the growing CBC network, each boasting an extraordinary amount of commercial real estate experience and local market insight. The most recently added affiliates include:
Coldwell Banker Commercial Bay, headquartered in San Jose, California, and serving the entire Silicon Valley market.
Coldwell Banker Commercial Griffin Companies, headquartered in Minneapolis, Minnesota and serving the Twin Cities and other surrounding Minnesota markets.
Coldwell Banker Commercial Gunstream & Associates, headquartered in Nampa, Idaho and serving the Nampa, Boise and other surrounding Idaho markets.
Coldwell Banker Commercial Hathaway, headquartered in Little Rock, Arkansas and serving the entire Little Rock and surrounding Arkansas markets.
Coldwell Banker Commercial La Mansion, headquartered in McAllen, Texas, the firm serves the McAllen and overall Rio Grande Valley markets.
Coldwell Banker Commercial Offenbecher, headquartered in Puyallup, Washington, the firm serves the Puyallup and Puget Sound markets.
Coldwell Banker Commercial Thompson Realty Group, headquartered in Lincoln, Nebraska and serving the entire Lincoln and surrounding Nebraska markets.
CBC Executive InterviewaConversationwithkyleking
how long have you been with the CBC organization?I’ve been with the company for almost four years.
Where is your home office based out of?I live in St. Louis with my wife and kids, but you could say my
home office is the road. Every week it seems I’m travelling to
another market to meet with a new potential CBC affiliate.
actually, that leads me to another question: your national team was always known as “affiliate sales” group but it was changed to strategic Growth back in 2007. Can you explain what that title means?Well, Strategic Growth supports the mandate that Rick Davidson
put forth when he took over as president, which is identifying and
securing the right affiliate candidates that will help us in grow in
the future — it’s the “rifle” approach to expansion.
And it’s not just about selling franchises; strategic growth is about
revenue generation in multiple forms. In essence, we source new
affiliate companies and carefully consider applications as well as
provide a significant service to existing CBC companies through
M&A opportunities, recruitment, etc.
What is the first thing you look for when identifying a new potential CBC affiliate?There’s several things we look for but primarily we want highly
entrepreneurial candidates with a strong market share; long
tenure in their market; and a good market reputation. A plus is if
they have industry specialists in the firm, not just generalists.
What would you say is the CBC brand differentiator over other competitors?We offer our affiliates what I like to call “legacy enhancement.”
Let’s say you’ve been in your market for 20 years, have a good
reputation and a solid client base. But as the industry continues to
shift over time, how do you maintain that dominant market share
yet still have the ability to retain your independence? With the
CBC organization, you’re getting a cost effective way of securing a
national partner and presence that will help increase their
competitive edge through state-of-the-art resources and new
business referrals. But the local branding and reputation
you’ve developed is the lynchpin for your success and that
will remain intact.
Maybe CBC is the right answer for you or maybe not. It’s a
decision we make together — the brand and the prospective
affiliate. But I truly believe our business model is a blending
of both companies designed to get you “invited to the dance,”
as we like to say.
What areas of the country are you currently focused on?Our efforts are focused on “dark markets” within the
CBC network.
What about international growth?Absolutely, increasing our international presence is on our
radar screen.
What would you say is your biggest day to day challenge?There are several, but one of our constant challenges is gathering
market research. Commercial real estate doesn’t have access
to an MLS service like residential does, so updated information
is tough to find, hence the heavy travel. It is challenging to take
minimal information, develop in-depth local knowledge,
form relationships with area businesses and ultimately select
a local partner.
it must be a tough leap of faith for any independent company to join a franchise. how do you ease new affiliates through the process?From the very beginning, what we do is a consultative process.
We’re building a relationship as soon as we begin our dialogue —
where are you today and where do you want to be tomorrow.
And when they’ve decided to join, our affiliates know we’re here
to help them grow their market share.
What is your vision for the strategic Growth team and the CBC organization as a whole over the next few years?Most importantly, we need to continue to increase our major
market presence through our “Hub and Spoke” business model.
I’d like to see our department continue to grow as well and offer
more sales training to the members of our team.
so what kind of skills do you look for when adding a potential strategic growth team member?A core understanding of commercial real estate is essential. That’s
something every member of our team has and needs to be able
to put themselves in the shoes of the prospective company.
It builds credibility.
“It’s not just about selling franchises; strategic growth is about revenue generation in multiple forms” —KYLE KING, Coldwell Banker Commercial Senior Vice President, National Strategic Growth
22 The Insider ISSUE NUMBER 2 23ISSUE NUMBER 2 The Insider
CBC Resources SpotlighttoolsfortheCBCprofessional
ePresentationsePresentations provides CBC affiliates with a “push-button publishing” tool to create
flyers, postcards and even flash presentations quickly, easily, and completely free via
Blueprint. Property information is drawn from the Central Data Exchange (CDX)
and automatically populates to the presentation template of your choice.
Choose from a variety of templates including new versions that mirror the layout
of CBCWorldwide.com. Plus, you can upload a customized contact list for direct
emailing of your marketing piece.
Use ePresentations to:
• Generate a complete Marketing Campaign, including flash presentations,
property flyers, open inventory reports, postcards, advertisements, customized
newsletters and more
• Download, print or electronically distribute all of your creations
• Use the reporting feature to monitor e-mail campaigns and create an instant
“Interested Client Lists”
LeadRouter™LeadRouter is a revolutionary tool that assists in the day-to-day management of
leads — whether web, office, or self-generated — and allows users to directly convert
internet leads and send them to a cell phone.
Use LeadRouter to:
• Maximize every form of lead
• Efficiently manage and respond to consumer inquiries
• Create customized rules for your company to ensure that specific lead
communications are routed to the appropriate CBC professional on your team
ColdwellBankerintercontinentalaffiliatesCommercialThe Coldwell Banker Commercial® presence is not just stateside. Our overseas affiliates
such as Intercontinental based in Egypt is making our brand truly CBC worldwide.
toolsofthetradeEasy-to-use business resources and applications available at your command and
designed to improve productivity and efficiency — all available on CBCBlueprint.
CBC International Company ProfileglobalCBC
ur leading international office, Coldwell Banker
Intercontinental Affiliates (CB IA), began in
Egypt in 2002 as primarily a residential real
estate organization that featured two branch
offices and a total of 50 employees — an
impressive start. Within two years the Cairo-
based company launched its commercial division, and today,
Coldwell Banker Intercontinental Affiliates Commercial (CB IA
Commercial) boasts 70 commercial real estate professionals
operating out of five offices in Egypt and one office in Dubai.
CB IA Commercial’s success can be attributed to its core group of
seasoned commercial professionals, each capable of handling
assignments for a variety of projects including mixed-use, office,
business centers, retail, land, and industrial properties. In Egypt
alone, the company represents more than 600 buyer accounts as
well as more than 700 property listings. Recently, CB IA
Commercial secured the exclusive listing for a new major hotel
project currently under construction in Riyadh, Saudi Arabia as
well as a group of A Class office buildings in Smart Village which
is considered one of the most distinguished office parks in
Cairo, Egypt.
Building upon this established footprint, CB IA Commercial is
focused on continuing to boost its performance and revenues
in the coming year. This particularly true in Egypt, where
CB IA Commercial is poised to take advantage of the tremendous
boom in the current commercial real estate market. Recent
economic reforms are allowing more multi-national companies,
developers, investors and retail brands to enter and expand in the
country. So as the region undergoes this significant growth surge,
CB IA Commercial plans to grow its operations as well.
The company, which serves as the Master Franchisor for Coldwell
Banker Commercial in 36 countries throughout North Africa, the
Middle East, Central Asia, and Eastern Europe, has experienced
tremendous growth in its commercial division since inception.
In fact, CB IA Commercial’s revenues over the last year were six
times that of 2004, and the company plans to expand further in
the near future by establishing operations in locations including
Kuwait and Saudi Arabia, just to name a few.
O
Doing Business in Egypt:keySimilaritiesanddifferences• Shopping center categorizations that are common
in the U.S. have yet to be applied to Egypt’s
retail centers
• Office buildings in Egypt do follow the same
classification system as in the U.S. — Class A, B and C
• New sales and leasing strategies are still being
introduced in the Egyptian market, including the
concept of a sale-leaseback
The Coldwell Banker Commercial Intercontinental office
headquarters in Cairo, Egypt.
JUST ONE ELEMENT OF SUCCESS
The Coldwell Banker Commercial organization is going beyond traditional client relationships by supporting Big Brothers Big Sisters of America. BBBS is committed to building enduring relationships that help children make the right choices in life.
Imagine the difference your guidance could make in a young life ... just one element in a child’s chances for success. Log on to www.events.org/CBCFoundation to support this worthy organization or...
www.CBCblueprint.com
© 2008 Coldwell Banker Commercial Affiliates. A Realogy Company. All Rights Reserved. Coldwell Banker Commercial Affiliates fully sup-ports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial, the
Coldwell Banker Commercial Logo are registered (or unregistered) service marks licensed to Coldwell Banker Commercial Affiliates.
PROVIDING GUIDANCE
Download the BBBS Participation Guide from the Blueprint Library for simple examples on how to provide your guidance
JUST ONE ELEMENT OF SUCCESS
The Coldwell Banker Commercial organization is going beyond traditional client relationships by supporting Big Brothers Big Sisters of America. BBBS is committed to building enduring relationships that help children make the right choices in life.
Imagine the difference your guidance could make in a young life ... just one element in a child’s chances for success. Log on to www.events.org/CBCFoundation to support this worthy organization or...
www.CBCblueprint.com
© 2008 Coldwell Banker Commercial Affiliates. A Realogy Company. All Rights Reserved. Coldwell Banker Commercial Affiliates fully sup-ports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial, the
Coldwell Banker Commercial Logo are registered (or unregistered) service marks licensed to Coldwell Banker Commercial Affiliates.
PROVIDING GUIDANCE
Download the BBBS Participation Guide from the Blueprint Library for simple examples on how to provide your guidance
