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New York

Brokers act as therapists during down market

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With the country in a recession and the real estate market spiraling downwards, some commercial brokers are starting to feel like therapists, with developers, landlords and property owners as their patients. Faith Hope Consolo, director of retail leasing and sales at Prudential Douglas Elliman, said her clients are “in need of constant hand-holding and assurances.” Ted Rotante, a broker at Williams Real Estate, said one of his clients calls him “doctor” and that he takes the honest approach about the market. “Trying to keep a client happy, that’s the type of therapy I won’t do,” Rotante said.