E13: Wes Schaeffer on Why Life is Too Short for Follow-up Calls, Part 2

On this episode of the Massimo Show

Rod sits down with Ron Koenigsberg, Founder & President at American Investment Properties, a successful Long Island Broker with 30 years experience in the commercial real estate brokerage industry.  

As Ron recalled the pathway to his start in commercial real estate he stated that he “[wished] everything was a straight path… but there are lessons to be learned that are probably never in a straight path, and you certainly have to have a little bit of resilience along the way.” 

Ron describes his journey from growing up in Long Island and watching his father survey buildings and construction sites, through his time in college, first jobs, and the eventual decision to establish his own firm, American Investment Properties. 

Rod goes on to ask Ron what’s the one common thread that allowed him to not only succeed, but thrive during the market cycles over the years? Ron responded that he attributes his success to two factors, his call counts and his coaching from The Massimo Group. 

Ron recounts a time in his career when he was scared, he was making a lot of calls, but business had come to a halt. After seeing an advertisement for The Massimo Group, Ron encountered James Nelson and asked him if The Massimo Group was really worth it, since it was expensive! 

Ron was a successful broker, “but [he didn’t] know what [he didn’t] know.” After 10 years with The Massimo Group, Ron stated that “It changed my life. Within five years, I went from really losing money or just getting by to… Broker of The Year… and I won the MVP (The Massimo Group’s Most Valuable Producer award) bat on the back of my book.”

Rod then goes on to ask Ron what the foundations to his success are? Ron immediately replied with relationships, daily phone calls, and reaching out to his prospects, especially through face to face communication and active listening. Ron notes that while social media is important, it’s also a double edged sword. 93% of the essential parts of how we communicate, per an FBI study in the 1970s and 1980s, never come through with the use of technology. 

Lastly, they discuss Ron’s new book, Power Broker: How to Succeed In Life And Business. This is an essential mindset book for any broker on how to attack everyday, especially if you’re feeling stuck, questioning what to do, or are plateaued. It details 9 skills that Ron believes are essential for making people successful. You can find Ron’s book on Amazon, Audible or at www.RonKoenigsberg.com.

Note: These highlights are designed to provide an overview of this episode’s content. Listeners are encouraged to tune in to the full episode for a comprehensive understanding of the topics covered.

At the Massimo Group we have 15 years of experience helping the most dedicated brokers, like you, build the CRE business and life they have always desired. If you’d like to learn more visit https://massimo-group.com/

On this episode of the Massimo Show

Rod sits down with one of his mentors, Jerry Anderson, a veteran in the commercial real estate brokerage industry with over 50 years of experience. Jerry, currently a Corporate Advisor for eXp Commercial, has successfully run two international brokerage companies and is a pioneer in single point of contact and master franchise brokerage models. 

Jerry has succeeded and thrived through at least four economic downturns, otherwise known as inflection points in brokerage, throughout his career, so Rod begins the podcast by asking him about the current state of the market and how it differs from previous downturns he’s experienced. At first glance, Jerry thought this downturn was similar to the 2008 financial crisis, but after watching some activity over the past few months, he said there are several differences, especially where things are heating up in the financial/lending industry, and “not in a good way.” 

Jerry elaborates that the central dilemma for US brokers right now is that “Interest rate percentages have really been very, very low, in my opinion, for way too long. We have to reset all that. We have to get people accustomed to higher interest rates. If you own a property…at 3% or 4%, [we have to ask] why would you want to sell?... [and advise] All you're going to do is pay capital gains tax, move on, and have a higher interest rate.” Jerry also points out that interest rates used to be higher, he remembers he “was pretty happy when interest rates [used to be] 12% and I was making money as a broker at 12%.” 

With Jerry’s lengthy expertise, Rod asks what advice he would give to brokers saying there’s no velocity in the current market and there’s “nothing I can do.” Jerry suggests that interest rates are relative, brokers have “had it pretty easy for the last 10 years… the habits they gave up, they're going to have to reinsert… You have to be an advisor in this marketplace more than ever before because people don't need you… you have to help them figure out what they do need.” “It's a beautiful time for you as a broker to make calls and say, let me share with you what's happening because we have our thumb on the heartbeat of the market.” Jerry continues to explain that brokers have to refocus, understand where the market is and its impacts, and share that knowledge and awareness with property owners and buyers to put them “in a position to be successful…”

Rod further emphasizes Jerry’s points by adding that The Massimo Group encourages our clients to be an authority in the market versus a commodity, an advisor versus a facilitator. “...This is not a time to take your foot off the pedal. This is the time to jam that pedal to the floor [with] more calls, more effort, more work if you want to just maintain a sliver of market share…”

Lastly, Rod enquires what Jerry feels are some of the greatest inflection points in brokerage history that have changed the way brokers work. Jerry recalled the Tax Reform Act of 1986, technology, particularly software and the internet, and the structure of brokerage companies.

Jerry briefly discusses his white paper The Commercial Real Estate Brokerage Industry Is Broken For Both Brokers and Associates. Rod postulates if he feels brokerage was broken back then and it still is today, how can we fix it? Jerry details the strengths and weaknesses of some prior brokerage models, from the small shop to national and international brokerage companies, franchises, and now virtual models. Jerry believes the current model that eXp is experimenting with is the closest to having it figured out. 

Note: These highlights are designed to provide an overview of this episode’s content. Listeners are encouraged to tune in to the full episode for a comprehensive understanding of the topics covered.

At the Massimo Group we have 15 years of experience helping the most dedicated brokers, like you, build the CRE business and life they have always desired. If you’d like to learn more visit https://massimo-group.com/

On this episode of the Massimo Show

Rod sits down with Bobbie Mastracci, CCIM, SIOR and Principal of Phoenix West Commercial, LLC, also known as the “Go To Broker” for the West Valley of Phoenix Metro. Bobbie is a successful real estate broker and Massimo coach with 20 years of CRE experience. She works with corporate and small business clients, both locally and nationally, and prides herself on her faith, dedication, and ability to deliver unmatched customer service.

Bobby shares her journey from her first job in high school, to being a hair color platform artist, and then entering the world of commercial real estate. Not to mention relocating from Pennsylvania to Arizona. She discusses the importance of education, setting goals, and having a strong work ethic. 

Bobby also addresses the misconception that it is harder for women to succeed in commercial real estate and emphasizes the importance of faith, discipline, persistence, and consistency to achieve success.

Bobby advises, to those considering a career change, to be prepared for a slow start and to find a mentor or coach to guide them. She also talks about the benefits of embracing technology, including AI, in the industry.

Overall, she encourages listeners to have a positive mindset, seek opportunities, and take action to achieve their goals.

At the Massimo Group we have 15 years of experience helping the most dedicated brokers, like you, build the CRE business and life they have always desired. If you’d like to learn more visit https://massimo-group.com/

Note: These highlights are designed to provide an overview of this episode’s content. Listeners are encouraged to tune in to the full episode for a comprehensive understanding of the topics covered.

On this episode of the Massimo Show

Rod sits down with Rich Vaaler of Vaaler Commercial Real Estate, a commercial real estate broker with 43 years of experience.

Rich has owned, managed, and developed property throughout his career, a facet that the typical broker may not have to share with their clients. It gives him a perspective to help his clients, especially older people, streamline their portfolio/assets and get rid of the complicated ones to transition into simplified properties. He loves what he does and he’s always trying to get better, always trying to learn more to help his clients.

Rich emphasizes the importance of being good at what you do, finding a niche, and constantly learning and improving. Rich also highlights the significance of having a supportive spouse and the role of AI in his business, particularly in writing content and analyzing data. He encourages brokers to focus on their specific market and consistently work on prospecting and building relationships.

Rich concludes the podcast by expressing his gratitude for the coaching he has received at The Massimo Group and the positive impact it has had on his life and business.

At the Massimo Group we have 15 years of experience helping the most dedicated brokers, like you, build the CRE business and life they have always desired. If you’d like to learn more visit https://massimo-group.com/

Note: These highlights are designed to provide an overview of this episode’s content. Listeners are encouraged to tune in to the full episode for a comprehensive understanding of the topics covered.

On this Special Episode of the Massimo Show

Host Rod Santomassimo is joined by 3 guests who are all highly successful and influential figures in the commercial real estate industry: Ken Ashley, Executive Director and Chairman for Cushman & Wakefield's Tenant Advisory Group; Brad Ahrens, President of Concord Development Partners; and Bob Knakal, Head of New York Private Capital Group- JLL. They delve into various aspects of commercial real estate, centering the conversation around their experiences, insights, and strategies that have contributed to their success as top producers. They each offer valuable insights and expert advice taken from and highlighting the information found in Rod's new book, Dominators of Commercial Real Estate Brokerage.

Our podcast begins with an introduction to today's objective: sharing clarity in the chaos that's forming in this market downturn, sharing approaches every broker should be thinking about and considering, and tactics that have worked in the past and continue to generate results, to help us all get through this part of the market cycle. 

Ken Ashley shares his journey in commercial real estate and his passion for solving complex real estate problems, emphasizing that the market is always evolving. The discussion moves on to the current state of the office market and how office tenant reps can thrive. Ken highlights the need for adaptation and the changing dynamics of office spaces post-pandemic. He urges tenant reps to focus on building relationships, marketing their brand effectively, and adopting a strategic approach to business development using the A, B, C system.

Brad Ahrens then shares his experiences in managing active projects during the pandemic and how his team adapted to mitigate risks. He discusses the importance of automation, outsourcing, and integrating technology to streamline processes and manage deal flow, leading to increased efficiency and faster decision-making. Overall, allowing him to optimize operations. 

The podcast conversation then shifts to social media and its impact on the commercial real estate industry. Ken Ashley emphasizes that social media is a powerful platform to spread one's brand and message, but it requires focus and intentionality. He encourages professionals to adopt a thoughtful approach and provide valuable content to stand out in a crowded digital landscape.

Our guest speakers also explore their tech stacks, communication preferences, and the future of artificial intelligence (AI) and its role in the industry. They agree and emphasize the importance of using technology effectively to streamline processes and improve productivity, but caution that while technology and AI offers many benefits, the human element will always be crucial in commercial real estate. It's the ability to connect, build relationships, and provide personalized expertise that sets professionals apart in this industry.

Next, Bob Knakal, a veteran with 39 years of experience in the New York real estate market, gives a quick introduction to himself and his remarkable achievements in the industry. He then talks about his recent project during the pandemic, where he personally inspected and documented every building under construction in Manhattan, creating a comprehensive and accurate database that sets him apart in the market.

Brad Ahrens, who transitioned from brokerage to real estate investment, discusses the differences between representing investors as a broker and understanding investment deals as an investor. He emphasizes the significance of quantifying information to provide clients with data-backed insights, leading to faster decision-making and building trust.

Ken Ashley highlights the importance of emotional and tactical listening in building trust and strong relationships with clients. He stresses the value of being genuinely interested in others, actively listening, and being confident in oneself while showing vulnerability.

Finally, our podcast concludes with our guests sharing their reasons for remaining passionate and dedicated to the industry, ranging from enjoying the business challenges to wanting to change the world. Leaving us with the idea of embracing an abundance mentality and giving back to the community. They also emphasize the significance of mentorship, surrounding oneself with like-minded individuals, and always striving for growth and improvement in the commercial real estate industry.

Overall, this episode provides valuable insights and lessons from highly successful professionals, giving listeners actionable strategies and a glimpse into the mindset needed to navigate challenges, make informed decisions, continuously evolve and stay relevant, and excel in the world of commercial real estate brokerage and investment. All of this making this episode a must-listen for industry professionals.

Note: These highlights of the key points discussed in the podcast are designed to provide an overview of the episode's content. Listeners are encouraged to tune in to the full episode for a comprehensive understanding of the topics covered.

On this episode of the Massimo Show

Rod talks about what hard feels like, especially when it comes to commercial real estate brokerage and how to handle it in the current markets.

On this episode of the Massimo Show

Rod sits down with The Massimo Group's own Chief Strategy Officer, Mike Gallegos CCIM, MCR, to discuss AI and how it's taking the world by storm. You can either chose to adopt AI or get left behind. 

At the Massimo Group we've been helping businesses like yours integrate AI into their everyday business practices. If you'd like to learn more visit https://massimo-group.com/

On this episode of the Massimo Show

Rod sits down with entrepreneur, author and international speaker, the one and only, Ronsley Vaz. First and foremost, he's the executive producer and host of multiple top rated podcasts, including The Psychology of Entrepreneurship, Should I Start a Podcast, and Bond Appetit. His podcasts have been downloaded more than 5 million times across 133 countries. In addition, he's the founder of the award winning audio marketing agency Must Amplify, which has helped entertainers, government leaders, athletes, and businesses raise their voice through podcasts. He's also the founder of the globally renowned conference We Are Podcast and audiobook agency, The Library of Sound, in partnership with Audible Australia. Ronsley's book, Amplify, has helped thousands of companies, associations, and business minded individuals expand their reach by using their podcasts. 

On this episode of the Massimo Show

On this episode of the Massimo Show

Rod sits down with one of the CRE top producers in North America, James Nelson. Now an author as well as being a speaker, investor, amazing broker and long time Massimo member, James is principal and head of Tri-State Investments at Averson Young.

With the launch of James' new book, The Insiders Edge to Real Estate Investing, Rod opens by asking why brokers don't also invest in commercial real estate? Does he see that as a conflict or should they be investing? James astutely remarks on the ethical issues and potential conflicts of being a broker and investor. He personally operates with the beliefs that reputation is everything, full or over disclosure is key and don't invest in an opportunity that you're listing or selling as a broker.

Next, Rod explores why James chose to invest in commercial real estate versus other avenues, such as the stock market. James responds by sharing his passion for the business and his desire to aquire all the knowledge he can on the frontlines as a broker. He then postulates, "Why wouldn't you take your expertise and knowledge and parlay that into an investment? Why would we not practice what we preach" about the benefits of buying and long term wealth creation? There are many inefficiencies in real estate, you can use that as opportunities that you just won't see in the public markets.

James continues to share that this is a big part of how he came to his book's title, The Insiders Edge to Real Estate Investing, as this insight, or edge, is "one of the main benefits of real estate" investing. His book details that "you can gain the insiders edge to outperform in the market." Whereas with the stock market, everyone has the same information available to them.

Rod and James go on to discuss how he got his start as an invester 20 years ago, the main deltas on how a professional investor views a deal versus a broker, tips for how to get started in investing with "sweat equity," and what the ideal investment team looks like. James provides a host of information in his book about "having the right specialists" and how "This is the business that's all about having the right people."

With the assistance of James' writing team, he also wrote about how to bring on a well trusted partner for your first investment and the significant differences, with respect to both risk and reward, between a general partner, co-general partner, and limited partners. Lastly, and a big part of the book, James reviews "the most important attribute for a great opportunity, seller's motivation."

To close out their podcast, Rod gets James' thoughts, from his broker perspective, for what he sees as opportunities in the market for 2023 and how he's able to find the time to do so many things. 

If you'd like to find James' podcast or more information about his book, published by McGraw HIll, The Insiders Edge to Real Estate Investing, go to jamesnelson.com.