Firms change up roles, adjusting to life after new development

New York /
Jun.June 15, 2010 08:45 AM

Marketers swap business models, taking jobs as workout consultants and handling resales

From the June issue: David Behin, a part-owner of new development marketing firm the Developers Group, was understandably concerned when the real estate market crashed two years ago. With condo sales stalled and few new projects getting built, he was suddenly nervous about the future of the seven-year-old company, not to mention supporting his family. “I had to figure out where to get new projects from,” Behin recalled. He started cold-calling bankers and investors and taking them out to lunch, offering to do market research for free, hoping to network and learn which distressed properties were coming on the market. Now it’s finally paying off: In addition to selling new condos, Behin also acts as a consultant for workouts on troubled new developments. That translates into more exclusive sales contracts for his firm once the properties are turned around. [more]

 

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