More Broker Movement Between Companies

PORTLAND-This city has seen a tremendous amount of movement over the past few years as new players have arrived in town seeking a piece of Portland’s growth-constrained action. Local real estate sources say several dozen brokers have switched houses for higher base salaries, better splits or the urge to open an independent shop and keep all the profits.

Most brokers say the moves began in earnest in early 1998 after Trammell Crow Co. decided to add brokerage to its core business of developing real estate for institutional investors – at the expense of the existing local brokerages. With bigger splits and guaranteed leasing work for national clients, Trammell Crow lured two brokers from Norris Beggs & Simpson, three brokers from Cushman & Wakefield and Grubb & Ellis’ entire five-man retail team.

Ever since, the ripple effect has been playing out, as brokerage houses take from other brokerage houses to fill voids. For example, Grubb & Ellis, after losing its retail team, beefed up its industrial team with Tom Talbot from CB Richard Ellis and others, but also lost brokers Mark Fraser, Scott Fraser and more recently Jeff Brooks, who all ended up over at Colliers International.