CRE Brokerage firms known for
I wanted to start a thread to get a general sense of what the top brokerage firms are currently known for, or what has changed about them. Ex. Cbre NY debt team is amazing at x type of deals, but their Ny IS team sucks because they’re slow, incompetent. Really just focusing on major cities NY, LA, Chicago, Houston etc. But feel free to add any team from a market that stands out to you.
Also not CB might have a great IS team just using as an example.
Im thinking CB, JLL, NMRK, Cushman, even like an Eastdil, or a boutique brokerage that does deals. Add em in!
Interested to hear thoughts on this.
The cbre (insert any team) don’t know their elbow from their ass.
Worst appraisers by far of the major firms
Appraisers, depending on if they are sales motivated will align to your story to a point. You have to be close with the appraiser, provide comps and information on your deal so they can give you the BS value you want to get bank financing! An appraiser is only as good as guidance from the ownership group that needs the appraisal, so maybe you should do a better job of guiding the appraiser than saying they suck! They are getting paid "shit" in relation to the whole capital stack of projects but provide great market data. Do your home work before bitching! Easy to say brokers suck because they over price most deals and the winning parties over paid. If brokers don't "buy a listing", they don't win the assignment. If appraisers don't give you the value you underwrote on a shitty deal, you complain they suck! If a deal goes bad, "you say it's the lenders fault"!! Well, go back to your crazy assumptions as the expert GP, LP, developer, etc and most likely, the blame is on you! Maybe you are the one that sucks!!! The reality is that groups buying today for the most part have to use 4 to 5% rent growth and point to AXIO or COSTAR rents to hit 6% CoC or get aggressive on exit caps to show a crazy IRR. Just how the world works.
Appraisers? We talkin’ about appraisers?
seriously though, in my limited experience interacting with appraisers, they had no idea how low cap rates had gone during much of the rebound out of Covid (specially speaking about multifamily). Our team basically pulled comps and did their job for them.
What is CBRE NY known for?
Nepotism.
Costar lists power brokers for every market and every asset class. You can check annual or quarterly. It won’t tell you the bad ones but you can figure out who some of the top brokers are in each market
Can you link me?
https://www.costarpowerbrokers.com/winners/
Eastdil - saying they’re “investment banking” when they are really just sales and debt brokerage pros like the rest of us.
What about Newmark? I’ve been interviewing with them
The team you are joining is more important than the brokerage shop you would be working for. There is little difference shop to shop but a huge difference in teams. You want to work on a team that’s doing a lot of deals and that has people you get a long with / want to help you succeed.
I read that Moran & Co 's LA team (bought by Berkadia) apparently lead SoCal in institutional MF deals last year.
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