Phoenix Brokerage Firms Accelerate Growth

Phoenix is one of the top growth markets in the country. Local economic and population growth have attracted new capital to the market. The activity has translated into growth for local brokerage firms, which are expanding to keep up with client needs. Phoenix-based Levrose had a record-breaking year in 2018, and this year, it expects to top last year’s deal volume. As a result, the firm has focused on talent recruitment and creating a collaborative company culture.

“Phoenix has led the nation in growth for the last three years, and we are seeing our clients starting to grow,” Mike Baumgardner, sales director at Levrose, tells GlobeSt.com. “We have sat down to find out what their goals and objectives are, and a lot of it is repeat business. Clients want to take advantage of new concepts in the market, like shared offices. That has been fueling the momentum as we go into this year and next.”

Baumgardner has focused on creating a team approach to client service and an environment that allows brokers to focus on deals. “We have a real team approach to what we do here. We really look at people that are new to the team as members of the family. They are not viewed as competition, and there is more collaboration,” he says. “That has created the mantra of ‘always doing right for clients.’ That has really helped our business. My job is to take away the road block that slow them down from doing deals to spend more of the time to service clients. That has allowed us to increase activity.”

For new recruits, Baumgardner has created a mentor program. “We have a really tenured team. We are pairing senior agents with new agents,” he adds. “That allows the seniors to do more deals while those that are new to the business can learn the business.”

Levrose focuses on commercial assets, with most of its business in office and retail product. In 2018, the firm completed 275 deals, an 18% year-over-year increase in activity. This year, Baumgardner expects to see another 20% increase in activity. To accommodate that growth, the firm will be recruiting talent in target areas, including industrial, to grow that segment of the business, East Valley experts and additional retail coverage. “We are definitely aggressively recruiting that fall in areas where we see a need,” says Baumgardner. “Our goals are to find the right personality match that align with our values and culture.”

Despite the growth, much of the firm’s business is repeat clients, and as a result, it is also focused on brokers that can forge long-term partnerships. “We are focused on building a team that is able to handle repeat growth as they grow and do more sophisticated transactions,” he says. “We are also looking to build a team that is able to work with smaller tenants that are looking to get into office space and looking to grow.”