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Oct.October 14, 2021 02:40 PM

Making a Market in any Market: Growth for Marcus & Millichap Shows No Signs of Slowing Down

Susan Bands, Regional Manager of Marcus & Millichap’s Manhattan, Westchester, and New Haven Offices (right) & John Horowitz, First Vice President and a District Manager for Marcus & Millichap (left)

The pandemic forced real estate businesses to adapt to rapid and long-lasting changes. Firms that focused on developing critical relationships, embracing technology where needed, and expanding possibilities for clients with new opportunities were able to find success. 

Marcus & Millichap, a leading commercial real estate firm focusing on sales, financing, research, and advisory services, was able to do just that- Make a Market. The brokerage firm grew throughout 2020 and continues to scale across multiple sectors in 2021. This is particularly true in the Tri-State market, where the Firm has achieved an outstanding 52% increase in sales and financing transactions y-t-d, over the same period last year.  

When asked how the team has managed to cultivate such success throughout the pandemic, Susan Bands, Regional Manager of Marcus & Millichap’s Manhattan, Westchester, and New Haven offices, says communication is key. 

 “What I’ve seen above all else from our agents is an elevated level of client contact.  Whenever there is volatility or uncertainty in the market, we double-down on outreach so that our clients have the information they need to make decisions.” 

While agents at other firms may have slowed down throughout the pandemic, Bands credits her team for doing the opposite.

“A transactional approach to the brokerage is completely contrary to our philosophy.  Our focus is and always has been on the client relationship.  Our team has increased calls, meetings, valuations, research reports, webcasts, and client seminars, all to best serve as advisors to our clients.” 

Building and nurturing client relationships have paid off for Marcus & Millichap. Their client-centric approach has led to many recent wins, with clients partnering with their team to take advantage of unique market opportunities. 

John Horowitz, First Vice President and a District Manager for Marcus & Millichap, shares, “Our clients who acted this year while others waited will see significant gains on the real estate they purchased.” While the uncertainty for some was too much, Horowitz says those who acted and continue to act now will not regret it.

“Throughout the pandemic, most buyers elected to wait, to see what happened.  Those that decided to seize the advantage made some great buys. Now, given that the market is bouncing back, rents are increasing and interest rates remain low, it is the sellers that act now who are also going to be happy they did.” 

With the market showing renewed strength, he shares, “I am not sure long this market remains strong with the looming threats of inflation, tax reform, and regulatory changes  so, any owner thinking of transacting in the next 24 months should seriously consider moving up their timeline.” 

Similarly, with so much availability of capital and historically low rates, Bands adds that Marcus & Millichap brokerage agents are partnering internally with their finance agents to incorporate a finance strategy into every buy, sell and hold a discussion. 

“We are focused on exploring sources of debt and equity and yield in a thoughtful, strategic way,” she shares.  

This is one of the most exciting times to be an investment sales agent, or mortgage originator, especially with  Marcus & Millichap. The team has also grown throughout the past 18 months, adding a new headcount across offices, and is looking to continue adding talent to grow their team into 2022. With recent upgrades to its digital properties and internal technology offerings, the firm is better positioned than ever to offer industry-leading service regardless of circumstances.

“In this context ‘Making a Market in any Market’ means driving disproportionately high levels of activity within the marketplace”, says Bands. “For us, that means selling, and refinancing assets at prices and terms that are exceptionally favorable to our clients, regardless of whether the noise about the market is up, down, or upside down.  We Make a Market by maintaining the largest inventory of properties for sale and making them accessible to our agents, originators, and buyer pool. The results are measurable; as a firm, we close more investment sales transactions per year than any of our competitors.”

Marcus & Millichap works tirelessly to help clients create and preserve wealth through commercial real estate investment sales as well as debt and equity advisory. The firm has assembled the industry’s largest and most qualified team of specialists to help provide real estate solutions that match your unique investment needs.

Connect with the team today and see the difference. 

 

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