By Mike Myatt, Chief StrategyOfficer, N2growth[IMGCAP(1)]This week's CEOspotlight profiles Steve Alter, CEO and Co-Founder of Real Capital Markets(RCM1). Since 1999, RCM1 has been the recognized leader inproviding online transaction management services to theinstitutional real estate community. With over 300,000 marketparticipants utilizing the RCM1 Platform, they have becomesynonymous with successful online marketing and due diligencemanagement. RCM1 is the clear market leader - handling over 25% ofall institutional properties (assets with a value over $10 million)brought to market in the last year. Enough of the background,and on with the interview...MikeMyatt: Steve, for readers not familiar with yourpersonal background, would you please share a brief summary of yourcareer history? SteveAlter: I graduated from SMU in Dallas in 1981 with a BBA and a Certificate of Real Estate. Upon graduation Ibecame a licensed commercial real estate broker and then spent mynext 19 years working in acquisitions (primarily multifamilyproperties) across the United States and for such well known firmsas The Robert A. McNeil Corporation, The Related Companies, JMBInstitutional Real Estate, Heitman Financial and FairfieldResidential. All the years I spent traveling the countrybuying commercial properties actually served to reveal a myriad ofmarket inefficiencies and flaws in the acquisitions process. Thisin turn caused me to believe there must be a more efficient way ofhandling complex commercial real estate transactions. All of thatcame together in my head with the emergence of the Internet, andReal Capital Markets wasborn. Mike Myatt: WhileReal Capital Markets has become somewhat of a household name incommercial real estate, the company is best known for itstransaction marketing and management capabilities. Share with ussome of the new products that you've recently rolled out, and howyou envision them making a difference given today's marketclimate: Steve Alter: We have investedheavily in R&D and innovation over the last few years and haveconsistently rolled out new versions and releases of the RCM1platform. In fact, in our latest release we expanded the RCM1platform so that in addition to our virtual deal room and ListingEngine, we now offer a Leasing Engine, a note sales solution, andour perhaps our most exciting new tool is our "HybridAccelerated Auction Platform" with confidential onlinebidding. The bottom line is that we now offer the mostcomprehensive and robust set of secure, private label, onlinetransaction management and marketing solutions available to thecommercial real estate industry. Mike Myatt.How has the turmoil in the commercial real estate markets affectedyour business, and what are you doing to help you clients duringthese tough economic times? Steve Alter:It's been the most difficult year since first founding the firm 10years ago because of the massive slow down in the overalltransactional volume for the commercial real estate industry as awhole. It's estimated by Real Capital Analytics that deal volumefor investment sales is down between 80% and 90% from the levels ofjust two years ago. We feel very fortunate to have notonly survived, but that we've also been able to adapt to thechanging needs of our industry. We understand thatparticularly during down markets, that increasing market visibilityand shortening the transaction lifecycle is critical for ourclients. This is why property owners, principals and developers ofall kinds can use our new "Leasing Engine" to help drive tenant andcapital demand to their commercial properties. Likewise, ourplatform accommodates the special asset groups and real estateinvestment bankers who can leverage RCM1's secure virtual dealrooms for their ultra confidential note portfolio and distressedproperty sales, not to mention the use of our new online biddingsystem to provide them with an increased certainty ofexecution. Mike Myatt: How do you see thecommercial real estate markets evolving in the future? Steve Alter: I believe we're in themiddle of a fundamental transition within the commercial realestate brokerage market. We're seeing a major shift to where themore sophisticated real estate investment bankers and theirinvestment sale broker counterparts who made up that top 10% ofincome earners will be the ones that are both surviving andprospering while the others will probably be going to work for thebanks in their special assets group. As far as the futuregoes, I'm still very concerned about our economy. Ihave a strange feeling that we never did hit the bottom, but ratherthe banks are only as some of been saying: "extending and pretending." This damhas got to break, and when it does, we are well positioned toprovide our clients with an efficient way to mitigate risks, implement accountability and transparency, and maximize thesales price of any property or note sale. MikeMyatt: As a CEO and entrepreneur, what do you see as themost valuable thing you can provide to your organization as aleader? Steve Alter: Passion andVision. Mike Myatt: Do you have a mentor, andif so what impact did they have on your development as aleader? Steve Alter: I've been lucky tohave a number of mentors in my life and those included a gentlemannamed Roy Mers who was in charge of the acquisitions department atThe Robert A. McNeil Corporation, and then later a Jim Bachner whois still in charge of the multifamily acquisitions atHeitman. They both gave me the opportunity to go out there tosource, negotiate and to purchase properties where the averagepricing was over $20 million. It was that experience that gaveme the insights necessary to build out the RCM1platform.Mike Myatt: Up to this point, can youpoint to any single defining moment in yourcareer? Steve Alter: While I cannot point toa single event, I can point to a combination of two events: 1.)Having the opportunity to work at JMB and to be surrounded bysuch a smart and loving group of people, and; 2.) CreatingRealcapitalmarkets.com and building it into a company that hasattracted tier one talent. I'm very proud of our people as it istheir commitment and ability that allowed us to be named to theINC. 500 list of the fastest growing privately held companies inAmerica, and that have built a best in class platform that providedthe online marketing for deals like The Sears Tower and JohnHancock Building in Chicago among others. MikeMyatt: How do you gauge your success on a day-to-daybasis? Steve Alter:Profitability. Mike Myatt: What is thetoughest part of your day? Steve Alter:Maintaining my focus on being the RCM1 brand evangelist. I try tomake sure that I'm always calling to try and educate realestate investment bankers, brokers and principals about how theycould be leveraging the power of the Internet to enhance theirbusinesses. Mike Myatt: If you could give anyadvice to our readers what would it be? SteveAlter: Always remember that your family is number one, andto thank God for what you have right now. MikeMyatt: What's next for Real CapitalMarkets? Steve Alter: We've provided the virtual deal room and confidential online marketingfor portfolio transactions in Europe, Canada andMexico. Now it's time to go global and include theMiddle East, the Far East and extend our internationalbrand.Conclusion:I have known Steve for severalyears, and over the years I have been a client of Steve's and hehas been a client of mine. Steve is a visionary leader who not onlyhas strong sense for how the commercial real estate industryoperates, but he is someone who can be counted on to honor his wordregardless of circumstances.