Working harder. Making less
October 29, 2010 | Dan Rafter | Print Article | Email this Article
David Zimmer
David Zimmer, president of Kansas City, Mo.-based Zimmer Real Estate Services, understands why today’s economy frustrates commercial real estate professionals: They’re working harder than ever. But they’re not seeing any gains in their savings accounts.
But whether you like it or not, this is the new reality of commercial real estate.
Zimmer summed it up to me in this way: “There is no question about it. I think the people that are enjoying some success in this market are working harder than they have ever worked before. They are working harder for probably the same or less money. This market is forcing them to be really creative, and to draw upon all their expertise in order to succeed.”
There is one benefit to a market like this, though. It’ll weed out the commercial real estate brokers who never were committed to their industry. This happened in the residential real estate market. I used to cover this industry for Metro Chicago Real Estate Magazine, a sister publication of Midwest Real Estate News, before switching to commercial. During the housing boom days, just about anyone was able to sell real estate. Agents just had to wait by their phones for business to come to them.
That changed after the housing crash. Many agents discovered that they didn’t have the skills they needed to find business on their own.
That’s happened in commercial real estate, too. It may sound cruel, but the deadwood has been weeded out thanks to the commercial slump.
Tags | economy, Kansas City, Missouri, residential, Zimmer Real Estate Services
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