{"id":1004748123,"date":"2025-02-27T13:50:25","date_gmt":"2025-02-27T21:50:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004748123"},"modified":"2025-03-01T14:28:38","modified_gmt":"2025-03-01T22:28:38","slug":"will-more-cre-dealmakers-become-their-own-boss","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/will-more-cre-dealmakers-become-their-own-boss\/","title":{"rendered":"Will More CRE Dealmakers Become Their Own Boss?"},"content":{"rendered":"\n
\"Smiling<\/a>
Image by Wavebreakmedia\/iStockphoto.com<\/em><\/figcaption><\/figure>\n\n\n\n

Commercial real estate brokerage is a business for entrepreneurs. Even within larger firms, dealmakers are responsible for making their own fortunes. Such an environment also fosters large egos. Under current conditions, many of these egos are expected to strike out on their own.<\/p>\n\n\n\n

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READ THE MAGAZINE<\/strong><\/a><\/div>\n<\/div>\n\n\n\n
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At the beginning of 2025, CRE is like a boxer who has taken a few tough rounds but might have found a second wind<\/a>. The cost of capital is higher-for-longer, but deal volume is ticking upward, at least for most areas and a good number of asset classes.<\/p>\n\n\n\n

That sets the stage for CRE pros, and especially brokers, to form new ventures. This comes with some caveats, however. No one is predicting a gold-rush, but steady movement instead.<\/p>\n\n\n\n

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READ ALSO:<\/strong> CRE Veterans Offer Advice to Aspiring Brokers<\/a><\/strong><\/p>\n\n\n\n

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For individual brokers, the 2023 and 2024 malaise<\/a> meant depressed deal volume, less opportunity and less financial gain. On the other hand, harder times can make for bolder CRE entrepreneurs. That\u2019s especially the case for those, such as brokers, whose rise or fall tends to depend on their own initiative.<\/p>\n\n\n

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\"Alisa<\/a>
Alisa Pyszka, Barry Menashe Family executive director at the Center for Real Estate School of Business at Portland State University. Image courtesy of Portland State University<\/em><\/figcaption><\/figure><\/div>\n\n\n

\u201cThe best businesses are built in downturns, right?\u201d quipped Johnny Noon, CRE director of engagement for the National Association of Realtors. He added that there\u2019s less competition in such an environment, allowing those who are nimble enough to take advantage.<\/p>\n\n\n\n

\u201cEntrepreneurs know their markets and whether (or not) there is going to be a need for brokerage services or opening a franchise\u2014whatever the climate,\u201d added Noon, who has extensive experience in retail site selection, retail leasing, business development and store construction.<\/p>\n\n\n\n

\u201cThey also ask: ‘Am I going to differentiate myself from the competition?’\u201d said Noon. \u201cWhat\u2019s going to set me apart, and do I have the tools and resources available to me to be successful?\u201d<\/p>\n\n\n\n

Growing interest<\/h2>\n\n\n\n

Though no one tracks the number of pros hanging their own shingles each year, anecdotal evidence suggests that despite the softer conditions the less-than-robust conditions, some brokers will be heading out.<\/p>\n\n\n\n

Noon reported that his organization services more than 180,000 members that are involved in CRE in some way or another, a total that has increased 16 percent over the last two years, even as the markets slumped.<\/p>\n\n\n\n

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READ ALSO:<\/strong> CRE Sentiment Soars to New High<\/a><\/p>\n\n\n\n

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\u201cWe\u2019re definitely seeing a lot more traction with people wanting to break into the business,\u201d Noon said. \u201cThat has been happening despite a tighter market in terms of volume and what\u2019s going on in the capital markets. But it\u2019s also a different market. With all the tools and resources that are out there, I think the barriers to entry are a little bit lower now.\u201d<\/p>\n\n\n\n

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The best businesses are built in downturns, right?<\/p>\n\u2014Johnny Noon, Director of Engagement for CRE, National Association of Realtors<\/cite><\/blockquote>\n\n\n

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\"Johnny<\/a>
Johnny Noon, Director of CRE Engagement, National Association of Realtors. Image courtesy of NAR<\/em><\/figcaption><\/figure><\/div>\n\n\n

Compensation is a strong motivator when forming new brokerages and other CRE startups, according to Graham Beatty, president of Ferguson Partners. In its latest real estate hiring and compensation hiring survey<\/a>, the firm found that modest salary increases are in the works in more CRE companies than not. Also, there are three times more firms looking to increase hiring in 2025 than there are planning reductions.<\/p>\n\n\n\n

In the short term, compensation seems to be rising again, which would argue against startup formation. But the picture isn\u2019t quite that simple.<\/p>\n\n\n\n

\u201cOftentimes, at inflection points, you see executives make decisions around striking out on their own,\u201d observed Beatty. \u201cOne of the inflection points that a lot of individuals are dealing with now is that the value of their long-term compensation has been negatively impacted by the last few years. Because of that impact, some of the golden handcuffs on executives have eroded.\u201d<\/p>\n\n\n\n

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A generational cliff?<\/p>\n\n\n\n

In its 2025 CRE outlook, Deloitte noted a somewhat surprising trend that could, in the long run, open opportunities for entrepreneurs. Namely, CRE is facing a retirement cliff. In the next decade, 40 percent of the U.S. workforce will reach the age of retirement. That means a new generation is going to take the reins.<\/p>\n\n\n\n

Real estate companies should align with the expectations of the next generation and take steps now to fortify their talent pipelines, according to Deloitte. Millennials and Gen Zers\u2014some of them anyway\u2014will be every bit as interested in the potential rewards of running their own CRE businesses.
Image by IPGGutenbergUKLtd\/iStockphoto.com<\/em><\/p>\n<\/div><\/div>\n<\/div>

\"Business<\/figure><\/div>\n\n\n\n

CRE breeds entrepreneurs<\/h2>\n\n\n\n

Being an entrepreneur\u2014in real estate or elsewhere\u2014is often about more than money. The Ferguson findings, for example, hint that some employees are itching to go on their own.<\/p>\n\n\n\n

More than half (58 percent) of respondents saw no change in voluntary turnover last year compared to 2023. However, 21 percent reported increases, with the same percentage finding decreases in voluntary turnover. The most cited reason for leaving was a lack of career mobility and professional development, the report noted.<\/p>\n\n\n\n

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READ ALSO:<\/strong> Another Survey Indicates Optimism by Investors<\/a><\/p>\n\n\n\n

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\u201cIt\u2019s hard to be a non-entrepreneur and grow rapidly in this industry,\u201d noted Collete English Dixon<\/a>, executive director of the Marshall Bennett Institute of Real Estate at Roosevelt University in Chicago. So, in a real sense, unless the market is truly horrible\u2014think 2009, for example\u2014the entrepreneurial urge in CRE is hard to suppress.<\/p>\n\n\n\n

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Some of the golden handcuffs on executives have eroded.<\/p>\n\u2014Graham Beatty, President, Ferguson Partners<\/cite><\/blockquote>\n\n\n

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\"Graham<\/a>
Graham Beatty, President, Ferguson Partners. Image courtesy of Ferguson Partners<\/em><\/figcaption><\/figure><\/div>\n\n\n

\u201cEven if you\u2019re working for one of the big brokerage houses, you\u2019re still an entrepreneur, because you\u2019ve got to build a business. You get to use their name, but it\u2019s your business that you\u2019re building.\u201d<\/p>\n\n\n\n

The CRE entrepreneurial bent starts early, according to Alisa Pyszka, Barry Menashe Family executive director at the Center for Real Estate School of Business at Portland State University. Moreover, the skill sets for CRE success often closely align with those needed to run a business. This tends to facilitate entrepreneurial forays.<\/p>\n\n\n\n

\u201cWhat makes everyone excited about this industry is a love of problem solving, and never taking \u2018no\u2019 for an answer,\u201d said Pyszka. \u201cThe problem to be solved is: How do you always get the \u2018yes’? That\u2019s a defining characteristic of people in this industry.\u201d<\/p>\n\n\n\n

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Read the March 2025 issue of CPE.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Brokers may get to scratch that entrepreneurial itch in ’25.<\/p>\n","protected":false},"author":1023,"featured_media":1004748576,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1521,21808,51037],"tags":[],"class_list":["post-1004748123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-digital","category-featured","category-trends"],"acf":[],"yoast_head":"\nWill More CRE Dealmakers Become Their Own Boss? - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/will-more-cre-dealmakers-become-their-own-boss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will More CRE Dealmakers Become Their Own Boss?\" \/>\n<meta property=\"og:description\" content=\"Brokers may get to scratch that entrepreneurial itch in '25.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/will-more-cre-dealmakers-become-their-own-boss\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-27T21:50:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-01T22:28:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/iStock-690492564.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/will-more-cre-dealmakers-become-their-own-boss\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/will-more-cre-dealmakers-become-their-own-boss\/\",\"name\":\"Will More CRE Dealmakers Become Their Own Boss? - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/will-more-cre-dealmakers-become-their-own-boss\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/will-more-cre-dealmakers-become-their-own-boss\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/iStock-690492564.jpg\",\"datePublished\":\"2025-02-27T21:50:25+00:00\",\"dateModified\":\"2025-03-01T22:28:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/will-more-cre-dealmakers-become-their-own-boss\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/will-more-cre-dealmakers-become-their-own-boss\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/will-more-cre-dealmakers-become-their-own-boss\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/iStock-690492564.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/iStock-690492564.jpg\",\"width\":1200,\"height\":900,\"caption\":\"Brokerage. 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