Big commercial firms shrink divisions, expand services

New York /
May.May 24, 2012 01:00 PM

Commercial brokerages are spending more time fighting for talent as they consolidate their business platforms and adapt to a more globalized real estate market, GlobeSt.com reported. The latest moves by the industry’s top professionals such as Arthur MiranteTom D’Arcy and Joseph Harbert demonstrate the high demand for brokers who can successfully market a variety of services under a single company division. Brokerages are looking for leaders who are adept at a full range of services, from leasing and sales to property management and debt arrangement.

“These divisions are all being blended into a fully integrated platform with all the services. The mortgage origination capabilities, the investment sales capabilities, the corporate servicing ability – it is a full service platform,” said Ron Uretta, managing member of High Road ADvisors and the former president of Insignia/ESG. “You are seeing a talent pool of people who are young veterans. Many of them are people who have gone through solid training at CBRE, JLL or C&W, but now they are saying there is an opportunity across the way and it’s time for them to make the move.”

According to Colliers International U.S. CEO Dylan Taylor, consolidation within the industry is driven by firms’ needs to have a dominant global platform and a strong global brand, while being well-capitalized. “Those are the three drivers that will determine the rules of the road going forward,” he said. “For firms that don’t have those three things, or struggle with elements of those three dimensions, I think we will see a lot of change.” [GlobeSt]


Related Articles

arrow_forward_ios
A photo illustration of Related Companies' Jeff Blau (Getty)
Related proposes 1,500-room resort in Hudson Yards casino bid
Related proposes 1,500-room resort in Hudson Yards casino bid
Jared Kushner and 666 Fifth Avenue (Getty, David Shankbone, CC BY 2.5 - via Wikimedia Commons)
Congress probes Jared Kushner’s dealings amid 666 Fifth Avenue sale
Congress probes Jared Kushner’s dealings amid 666 Fifth Avenue sale
Council member Pierina Ana Sanchez and RSA’s Joseph Strasburg (Getty; Twitter)
Citing Bronx fire, Council pushes building violation crackdown
Citing Bronx fire, Council pushes building violation crackdown
SB Development’s Joseph Stern and Northwind’s Ran Eliasaf with rendering of Nova (LinkedIn, NOVA)
SB Development, Hazelton Capital score $62M loan for LIC condo tower
SB Development, Hazelton Capital score $62M loan for LIC condo tower
Illustration of Mayor Eric Adams (Getty; Illustration by Kevin Rebong for The Real Deal)
Oh, rats! Eric Adams contests summons for infestation
Oh, rats! Eric Adams contests summons for infestation
Brookfield's Bruce Flatt with 1100 Newark Turnpike (Loopnet, Brookfield)
Brookfield buys CSX industrial site in Northern New Jersey for $67M
Brookfield buys CSX industrial site in Northern New Jersey for $67M
198 Scholes Street, 65 Kent Avenue, 506 DeKalb Avenue and 11 Gunther Place (Illustration by the Real Deal with Getty, Google Maps)
Avi Philipson deal to acquire All Year portfolio is back on
Avi Philipson deal to acquire All Year portfolio is back on
From left: McSam Hotel Group's Sam Chang and SL Green's Marc Holliday with 711 Seventh Avenue  (Getty, Google Mpas, SL Green)
Times Square hotel developer sues neighbors over delayed demolition
Times Square hotel developer sues neighbors over delayed demolition
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...