Sunday, April 22, 2012
Building A Real Estate Brokerage Business
Here is a good (free) Wall Street Journal article on the integration of commercial real estate brokerage firms Newmark Knight Frank and Grubb & Ellis, at least what's left of it, into BGC Partners, Inc. BGC is a Cantor Fitzgerald spin-off, and both BGC and Cantor have the same chairman and CEO, Howard Lutnick. You don't hear as much about Lutnick as you do other Wall Street leaders, but I would not bet against him.
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A lot of times, buyers or sellers prefer a specific broker simply because of the brand image. The brand image is really dependent on whether you are an independent broker or a brokerage firm and is based on many different variables. If you intend to be a broker, it is important you make investments in building and enhancing your brand image. After all, branding is about managing perceptions.
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