Hey guys. Somewhat recently a top broker from our firm jumped ship to another major brokerage. Made me wonder what kind of incentives may be offered to poach a very solid producer. Is it keeping more commissions? Notoriety of being under a CBRE/JLL/Colliers banner? Are there any perquisites that you're familiar with that top brokers may receive and would motivate someone to jump ship, or is it all about the dollars?
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Promise of deal flow/leads and large signing bonuses seem to be the typical case.
I've seen people jump:
Sometimes they will also be offered stock in the company or higher splits for x number of years.
Just saw a top SoCal MF broker leave CBRE and go to Kidder Mathews, a much smaller shop. Probably split related.
Some also leave because they want to target a larger region within the US while their current firm allows them to focus on one market.
some brokerages offer a variety of free coffee in the breakroom. there are all kinds of incentives out there.
Eastdil had no chance once CW revealed their K-Cup selection to Spies and Harmon
Deciding factor: Keurig or Flavia?
It's not Keurig.
Well they just got rid of the coffee pot in my office and now the only option are those alterra coffee pouches that taste like they were brewed in satan's asshole.
For all of you college kids wanting to be brokers, over on the owner/development side, we have a built-in touch screen espresso machine.
Let that perk you up
Cold brew keg or bust
coffee is for closers..
I can't post links yet but I saw this on Crains New York ....$30 MM each?
Cushman scored a coup late last year, when it recruited one of the city’s top-selling investment sales teams, led by Doug Harmon and Adam Spies from Eastdil Secured. Rumors abound that the company paid a record sum for the team, handing as much as $30 million each to Harmon and Spies to make the move. The pair have handled some of the biggest deals in the city, such as the $2.2 billion sale of the office tower at 1095 Sixth Ave. and the $2 billion sale of the Waldorf Astoria.
I would imagine those kind of incentives have some sort of clawback in the event they don't produce to a certain level Cushman expected.
Group I work with got offered to move. Offered a sum of $ but the splits weren't as good so it would even out over a couple years.
Typically an upfront large cash bonus. Firms will also offer this to their top producers to keep them. My understanding is that they require a minimum term commitment of at least 5 years. Secondary issues tend to be firm brand, resources, etc. When you've hit a level where your firm is offering you $5-30M to stay for 5 years or more, you're more likely than not already at a top firm having a well oiled machine of employees that you're paying working under you. So it's almost always about the upfront cash bonus and splits.
Kevin Shannon left CBRE to go to NGKF (he originally was a Grubb & Ellis guy) for what I've heard to be $50MM (this came from an extremely trusted source who worked with him). $25MM cash/$25MM equity–parent company BGC Partners Is Taking NGKF Public ICYMI. 5 year deal with the same splits.
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