This site and my company caters specifically to:
Welcome Texas commercial real estate dealmakers!
A. Texas commercial real estate owners looking to sell their property;
B. Multi-site retail, medical, and office tenants requiring representation for lease or purchase or sites, and;
C. Commercial disposition of assets (sales or subleases).
Attached is a “Seller Checklist” for commercial real estate owners looking to sell their property.
If you fit “a-c” above, call me at 713-553-1590 to discuss your situation. If you want more information on Commercial Realty Investments and our sales and brokerage operations, please go to:
Clients looking to select a commercial real estate brokerage firm in large cities like Houston or Dallas usually get referred by an associate or looks up the biggest firm and the “selection” is over. The Texas commercial real estate brokerage industry has changed a lot over the past 10-15 years especially in major cities like Houston, Dallas, Austin, and San Antonio. These are Commercial Realty Investments opinions and they will not be popular with competing brokerage companies!
- The commercial real estate brokerage field has consolidated for the “tight or hard” times, which is not to the client’s advantage. In 2001, commercial real estate brokerage companies started moving to a “team” concept for landlord representation in sales and leasing. This seems to now be set in stone since 2008 until present. It is simply supply and demand; too many commercial real estate brokers and too few listings. A team approach is a sales environment leads to poor performance; it is just human nature. When multiple brokers are in charge of one listing, the commission gets divided up so many times there is little motivation. These salespeople start considering rewards vs. return. The members of the team start silently considering “even if I do nothing on this sale, I get ___%. “ Guess what everyone on the team starts doing? Nothing; not what a commercial real estate brokerage client is looking for.
- Experience of commercial real estate brokers. I have been in the Texas commercial real estate sales and leasing field since 1988. I have either headed the Houston region for a small brokerage outfit or run my own company. The “team” approach doesn’t work in most situations unless you happen to get lucky. My guess is leasing or selling a commercial real estate asset is NOT where you want to be rolling the dice. A team approach diffuses accountability; again this is human nature. My last “job” I had heading a commercial real estate brokerage division was in 1999 and I had more than 1 million square feet of space spread across Houston. I was a team of “one”, fully accountable to multiple owners and had answers when they called me and no splitting of fees with other “team” members. Commercial real estate brokerage teams usually have junior “worker bees” and senior sales and leasing brokers. When the team grows past 2 members, it really becomes a battle of “who can do the least”.
There is one brokerage firm I am aware of where a team approach is employed and phone inquiries are alternated between agents. Lease renewals are a big part of the value of a commercial real estate asset and usually pretty easy to handle for a seasoned veteran. A huge percentage of this companies commercial lease tenants are on month- to- month leases. The brokers have let these leases expire and waiting for “the other guy” to do the paperwork so they can book their commission for doing nothing.
- Deal making ability of commercial real estate brokers. I have noted across all major markets, the best true dealmakers are in the office sales and leasing arena. The reason is simple; the deals and commissions are larger so the high-grade talent is attracted. These top commercial real estate dealmakers are very few as you may guess and the junior and beginner pool is enormous. If you are interviewing firms and the prospective commercial broker assigned to your account starts discussing sports, golf, and/or starts telling you how he can find you the perfect buyer for your commercial property or locate the best location to move your business; beware. You are talking to a less experienced dealmaker who is basically a “bird dog” who finds a property or buyer and disappears from the commercial real estate transaction. This person is more than ready to “grab a beer” or play a round of golf with you but not discuss Phase 1 environmental issues, HVAC transferable warranties, lease expiration rollovers, or complex deal structure. “Let the attorney and Title Company handle that” is their battle cry when faced with a deal point.