Why No Deal is Too Small

Jon Rosenberg

Jon Rosenberg , designated broker and managing partner of LevRose , says that one of the common comments heard over the years from clients is that “the broker at that other firm wouldn’t return my call.” Rosenberg recently sat down with GlobeSt.com to talk more about how small deals can pay off in the end. GlobeSt.com: Why is it important for firms—big and small—to have a “no deal is too small” attitude? Jon Rosenberg: When we started out in the business, we found that many of our clients were smaller. This was due to smaller listings that we went after and our visibility with many other neighboring tenants. Many years ago, we had a client who needed a one room suite. We took her call and tried to assist her. After a brief meeting, we determined she needed a larger space, which we ended up finding her. A few weeks later she referred us to a larger tenant who needed several thousand square feet—just because we were responsive. We ended up with a very nice transaction. And the original person I mentioned, ended up eventually calling us to purchase two buildings. GlobeSt.com: How can building relationships with clients grow a CRE firm? Rosenberg: I have always felt that if you genuinely like people, relationships are not only easy, but can be strong for a long time. We spend a great deal of time building relationships, as this is a relationship business. I constantly hear people mentioning how much they enjoy one of my partners, Geoff Turbow, even if they haven’t had a transaction with him. The positive feedback usually turns into them promoting our services or Geoff to someone else. GlobeSt.com: Can you share an example of how working with a “small deal” has paid off big for you? Rosenberg: We had a client who owned two smaller buildings in Scottsdale.  He had asked us to lease his smaller spaces over the years, which we did and earned very small fees doing it.  Eventually, he asked us to sell his buildings, which we did. The buyers of those buildings eventually sold them and also engaged our services due to our experience with the properties. One of the properties just had its third sale that we were a part of. Additionally, one of the prospective buyers who passed on one of those properties ended up purchasing a surgery center building for $1.4 million. We sold it for him a year later for $2.8 million and following that transaction he bought a $1.2 million property. Thus, we ended up with more than $5.4 million in transactions all as a result of the original leasing assignment that most would have avoided. GlobeSt.com: How can clients benefit from having a team available for any size deal? Rosenberg: Treat each client as our priority is key. Every business owner has invested so much time and energy into their business, regardless of size. Our goal is to make sure we treat their business with the same respect and focus we would want shown to our own business.