Brad Manns, executive director, global integrated services-facilities at Cummins Inc., was less categorical on the importance of brokers. As a truly global business, Cummins does not depend as much on the success of individual deals. What it wants is brokers that can think about the long-term and have the flexibility to handle anything, even if they lack the specific expertise on a certain product type or market.

NGKF won Cummins' business, Kasselman added, by promising to do just that, even if they had to reach out to other firms to handle some of the work. “That's what they like best about us. Brokers sometimes make the mistake of saying, 'I can do it.'” But NGKF makes it a policy to be completely transparent, so if they don't have the most knowledge about a proposed deal, they say “'let us introduce you to the right people.'”

CHICAGO—Last week at Newmark Grubb Knight Frank's annual Industrial Strength Connections Summit in Chicago, a ballroom filled with brokers listened to a diverse group of clients explain just what they needed from their broker relationships.

Geoffrey M. Kasselman, executive managing director of NGKF's national industrial practice, led the Thursday afternoon session, and at one point told a story from early in his career, when after failing to win the business of a prospective client, he went back and asked why. That individual told him that although his firm's bid was solid, the ultimate choice wasn't that important, because “all brokers generate the same result, plus or minus 10%.”

That opinion was a bit of a surprise, and Kasselman asked the panel of developers and occupiers for their reaction. Scott Alexander, president of BlueScope Properties Group, a Kansas City, MO-based developer, said he thought that way of thinking was “false.” He feels the broker-client relationship is a critical one, especially for relatively new businesses such as BlueScope Properties. In fact, having the right broker can be the difference between “getting the deal or not getting the deal.”

Rob Pericht, senior vice president, customer solutions and operations development, Saddle Creek Logistics Services, agreed with that assessment. The firm has become one of the most active 3PLs in the US, and Pericht said the right broker can save it millions “by having that one tidbit of information that we may not be aware of.”

Brad Manns, executive director, global integrated services-facilities at Cummins Inc., was less categorical on the importance of brokers. As a truly global business, Cummins does not depend as much on the success of individual deals. What it wants is brokers that can think about the long-term and have the flexibility to handle anything, even if they lack the specific expertise on a certain product type or market.

NGKF won Cummins' business, Kasselman added, by promising to do just that, even if they had to reach out to other firms to handle some of the work. “That's what they like best about us. Brokers sometimes make the mistake of saying, 'I can do it.'” But NGKF makes it a policy to be completely transparent, so if they don't have the most knowledge about a proposed deal, they say “'let us introduce you to the right people.'”