Yes, of course SVN will be at ICSC RECon. Booth C162F to be exact! And we’re looking forward to all the networking and deal-making opportunities that are ahead.
Here’s why you should stop by the SVN booth in Las Vegas:
We Share Fees – We’re the only commercial real estate company founded on the idea of compensated corporation. What’s this mean for you? How’s a 50% commission split sound on deals you do with an SVN Advisor? It sounds good to us, and guess what else? Higher splits increase demand, which ultimately leads to deals making it to market faster, and closing at a greater value. (See SVNIC EVP of Franchise Development Solomon Poretsky’s Commercial Real Estate Cooperation Report here).
Over 100 SVN Advisors will be in Attendance – SVN is a network of over 1,500 Advisors spanning 500 markets in the US, Canada, Mexico, and Russia, so there’s a good chance we’ll have someone from your market to talk to. If not, we guarantee you’ll be hearing about us in your market soon. Our comprehensive commercial real estate services include sales, leasing, tenant representation, asset management, property management, corporate, consultation, accelerated marketing, and auction services.
We are also a Commercial Real Estate Franchisor –Interested in joining SVN? We can make that a reality. We are always looking for more qualified real estate professionals to expand our already successful network. Become a part of our growth by joining the 6th Most Recognized Brand in Commercial Real Estate*, and branding yourself as a national firm driven by our culture of accountability, responsibility, and transparency.
Recognizing the SVN Difference with Specialty Awards
If you read my recent blog post about the SVN Annual Conference highlights, you know that the SVN Specialty Awards recognize members of the SVN community who have distinguished themselves in 2015 by making significant impacts on the commercial real estate industry and beyond. The awards – which included Team Player of the Year, Ambassador of the Year, Collaborator of the Year, Trainer of the Year, Humanitarian of the Year, Prospector of the Year, Innovator of the Year, and Firm of the Year – looked beyond production results and instead focused on culture. The winners of this year’s SVN Specialty Awards each embody traits that the SVN culture values immensely: practicing collaboration, cooperation and conscious capitalism while excelling in commercial real estate.
SVN Collaborator of the Year 2015 – Tony Yousif
Just being with SVN means you are a collaborator. And one could say that when you specialize in national accounts, you would naturally be a good collaborator. However, when you run your national accounts in a manner where nearly half the company writes in to nominate you, it means that you are the company’s best collaborator. As we are a company founded on collaboration both internally and externally, it’s with great pride that we present this award to Tony Yousif.
Tony Yousif serves as Senior Director of National Accounts for SVN | Asset Advisory Group specializing in the management and sale of investment properties.
The SVN blog will be featuring one SVN Specialty Award winner every week for the next few weeks. Subscribe to the SVN blog on the right-hand column of the blog homepage to stay up to date with SVN and CRE industry news.
I’m often asked why we give away some of the (otherwise proprietary) Sperry Van Ness® systems, tools and resources. I’m further asked why SVN is investing in the development of new tools if only to hand some of them out to the brokerage community at large. “Aren’t we aiding our competitors?” “Are we losing pieces of our differentiated value proposition in doing so?” These are a few of the questions often posed to me.
While losing market share and eroding gross margin are obviously not the extirpative goals of the aforementioned strategy, in this post I’ll attempt to clarify why we have taken our culture of collaboration up a notch, and how doing so is facilitating growth across all key performance indicators while helping to improve the fractured state of the commercial real estate (CRE) industry.
By way of background, SVN was founded on the premise that proactively cooperating and collaborating with our brokerage brethren – sharing our fees 50/50 in the process – is the right thing to do for the client and is the only way to ensure maximum value for a property. Debating the merits of that ethos is a topic for another day, and last month we released the SVN Difference Video, which scrutinized the CRE industry and its asset disposition practices, and was met with strong emotional reaction.
In terms of opening-up and creating new SVN products for the benefit of the brokerage community, we’ve rolled out the following in the past 12 months, which can be categorized and described as follows:
Compensated Cooperation: The SVN Monday Morning Sales call is now open to the public. There, we showcase new listings procured by our SVN Advisors over the previous 7 days. Every listing includes a buy-side commission which is always ½ of what the SVN Advisor stands to earn as a matter of policy.
Education: We collaborated with more than 10 commercial real estate firms and industry organizations to launch www.CREvine.com, an open resource platform for CRE professionals to acquire new skills, gain knowledge, and “level-up” their practices.
Marketing: Lastly, and as a BETA test, we’ve opened up a good portion of our (now retired) OnlinePublisherTM system. Called CRElaunch, owners and brokers alike can use the tool to create brochures and market their properties (a word of caution here – the product is in BETA and has a long way to go).
But back to the topic at hand.
We collaborate not to merely suggest that “we’re the good guys,” but because we truly believe that making the otherwise dysfunctional commercial real estate market more efficient will benefit all stakeholders, including Sperry Van Ness.
Simply put, collaborating – harnessing the power of broad horizontal networks of participants to achieve a better outcome – will drive market efficiency and liquidity, while simultaneously increasing revenue and profitability to those who collaborate. At SVN, we’ve aggressively grown our business by subscribing to this ethos and receive direct benefit in the following manner:
Recruiting: As a CRE advisory, one of our biggest economic generators is recruiting talented, ethical and productive advisors. Our opening-up certain components of SVN has allowed us to create relationships with thousands of brokers and we’ve recruited or awarded a brokerage position or SVN franchise to a small percentage of this new constituency.
Retention: Just as strong as recruiting is a vital key performance indicator of growth, attrition (of producing Advisors) can have devastating consequences for an organization. Through thought leadership, the contemporary nature of our collaborative growth strategy, and via a transparent business model, our attrition rate is at a 5-year low.
Sales: When one harnesses the power of the entire brokerage community to market a for sale asset, organized competition is generated, multiple offers are posited, the market speaks, and the highest price is achieved. Our compensated cooperation strategy, coupled with our core covenants, define SVN while moving inventory faster and at a higher price.
New Business Development: It’s tough to argue against the growth strategies of the likes of Google, Skype, and Innocentive in suggesting that their “Freemium” business models don’t create raving fans, loyal customers, and a myriad of cross-selling opportunities (each of these companies offer a free “attraction” product while simultaneously offering paid premium products). As described above, the SVN story – rooted in harnessing the power of collaboration to affect a better outcome – has been kicked-up a notch, shared with clients/prospects, has enhanced our point of differentiation, increased our “batting average,” and reduced the cost of sales. We are winning new listings, doing more business – all while putting the clients interests’ first.
Mass collaboration, while not ubiquitous in CRE brokerage, is now a staple of the new economy and it’s here to stay. As the members of Generation X & Y grow to positions of increasing power and control, collaboration and Freemium business strategies will become the norm in CRE as well. Until then, I’ll continue to invest in the creation of new products and to share some of those we previously created.
Kevin Maggiacomo is the President and CEO of Sperry Van Ness International Corp.
*All Sperry Van Ness® offices are independently owned and operated.
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