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Equity Stakes for Brokers at Ex-Web Guru's New Firm

NEW YORK CITY-Bruce Weissberg, former CEO of RealtyIQ and newly named president of commercial real estate firm D.G. Hart, plans to allow brokers to pursue commission deals that include equity stakes in the properties they close.

By Glen Thompson | Updated on September 13, 2001

NEW YORK CITY-Bruce Weissberg, former CEO of RealtyIQ and newly named president of commercial real estate firm D.G. Hart, plans to allow brokers to pursue commission deals that include equity stakes in the properties they close.

In an exclusive interview, Weissberg tells GlobeSt.com that when D.G. Hart principals Joseph Genovesi and Stephen Dadourian approached him with the idea of re-entering the commercial real estate market, their ideas meshed with his own philosophy about what motivates brokers: ownership. “Joe and Steve said they were looking to grow the company, but with a twist in mind that they were excited about. They wanted to get involved with real estate investments for themselves.”

Weissberg says the real estate community’s universal craving for property ownership can be harnessed to provide a strong incentive for brokers, all of whom, he says, are looking for a portfolio-building strategy. “The opportunity to own real estate is intriguing,” Weissberg tells GlobeSt.com. “I’ve always believed the way to build a brokerage management company was to go back to the model from years ago where brokers and professionals within the industry had the opportunity to get involved on an ownership level. That was something I first came across at Williamson, Pickett, Gross, which they had learned from Helmsley Spear. There’s a roster of brokers who own little pieces of buildings that you and I walk by every day and never give a second thought to.”

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