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2020 DNA of #CRE Broker Results

730 responses

What is your company type?

725 out of 730 answered

1
Independent
56%/ 410 resp.
2
National
43%/ 315 resp.

What state is your brokerage located in?

644 out of 730 answered

1
CA
20%/ 133 resp.
2
FL
9%/ 59 resp.
3
TX
8%/ 56 resp.
4
NY
5%/ 37 resp.
5
IL
5%/ 32 resp.
6
AZ
3%/ 22 resp.
7
GA
3%/ 20 resp.
8
WA
2%/ 18 resp.
9
NV
2%/ 17 resp.
10
PA
2%/ 17 resp.
11
AL
2%/ 16 resp.
12
NC
2%/ 16 resp.
13
CO
2%/ 15 resp.
14
OH
2%/ 14 resp.
15
Not applicable
2%/ 13 resp.
16
IN
1%/ 12 resp.
17
NJ
1%/ 12 resp.
18
TN
1%/ 11 resp.
19
MI
1%/ 10 resp.
20
MO
1%/ 10 resp.
21
SC
1%/ 10 resp.
22
MD
1%/ 9 resp.
23
KY
1%/ 8 resp.
24
MN
1%/ 7 resp.
25
OK
1%/ 7 resp.
26
VA
1%/ 7 resp.
27
LA
0%/ 6 resp.
28
NE
0%/ 6 resp.
29
CT
0%/ 5 resp.
30
MA
0%/ 5 resp.
31
AR
0%/ 4 resp.
32
IA
0%/ 4 resp.
33
OR
0%/ 3 resp.
34
RI
0%/ 3 resp.
35
UT
0%/ 3 resp.
36
WI
0%/ 3 resp.
37
HI
0%/ 2 resp.
38
ME
0%/ 2 resp.
39
MS
0%/ 2 resp.
40
ND
0%/ 2 resp.
41
WV
0%/ 2 resp.
42
DE
0%/ 1 resp.
43
ID
0%/ 1 resp.
44
KS
0%/ 1 resp.
45
NH
0%/ 1 resp.
46
AK
0%/ 0 resp.
47
MT
0%/ 0 resp.
48
NM
0%/ 0 resp.
49
SD
0%/ 0 resp.
50
VT
0%/ 0 resp.
51
WY
0%/ 0 resp.

What best describes your brokerage’s location?

725 out of 730 answered

1
City
65%/ 472 resp.
2
Suburban
32%/ 233 resp.
3
Rural
2%/ 20 resp.

How many brokers are in your local office?

723 out of 730 answered

1
2–5
27%/ 197 resp.
2
11–20
18%/ 134 resp.
3
21–50
14%/ 107 resp.
4
6–10
13%/ 99 resp.
5
Just you
11%/ 85 resp.
6
> 100
7%/ 55 resp.
7
51–100
6%/ 46 resp.

How many years have you worked in commercial real estate?

724 out of 730 answered

1
11–20
24%/ 180 resp.
2
> 30
23%/ 170 resp.
3
1–5
21%/ 154 resp.
4
21–30
17%/ 125 resp.
5
6–10
13%/ 95 resp.

What was your gross commission income in 2019?

719 out of 730 answered

1
< $100,000
29%/ 214 resp.
2
$100,000–149,999
14%/ 106 resp.
3
$200,000–299,999
14%/ 105 resp.
4
$150,000–199,999
13%/ 96 resp.
5
$500,000–999,999
11%/ 81 resp.
6
$300,000–499,999
10%/ 76 resp.
7
$1M–2M
4%/ 30 resp.
8
> $2M
1%/ 11 resp.

On average, how many hours do you work in a week?

725 out of 730 answered

1
36–45 hours
39%/ 284 resp.
2
46–56 hours
30%/ 222 resp.
3
25–35 hours
18%/ 131 resp.
4
> 56 hours
12%/ 88 resp.

What age range do you fall into?

727 out of 730 answered

1
50–59
23%/ 173 resp.
2
60–70
22%/ 166 resp.
3
40–49
19%/ 145 resp.
4
30–39
17%/ 129 resp.
5
21–29
8%/ 65 resp.
6
> 70
6%/ 49 resp.

What gender do you identify with?

724 out of 730 answered

1
Male
80%/ 582 resp.
2
Female
18%/ 131 resp.
3
Prefer not to say
1%/ 11 resp.
4
Prefer to self-describe
0%/ 0 resp.

Which property type did you sell or lease the most of in 2019?

722 out of 730 answered

1
Office
28%/ 204 resp.
2
Retail
23%/ 170 resp.
3
Industrial
19%/ 143 resp.
4
Multifamily
10%/ 73 resp.
5
Land
8%/ 62 resp.
6
Hospitality
2%/ 20 resp.
7
Medical
2%/ 17 resp.
8
Special purpose
2%/ 17 resp.
9
Single tenant net lease
1%/ 13 resp.
10
Student housing
0%/ 3 resp.

What is your top source for finding property information?

716 out of 730 answered

1
CoStar/LoopNet
64%/ 458 resp.
2
Self-sourced
13%/ 96 resp.
3
Catylist
5%/ 42 resp.
4
MLS/CMLS
5%/ 40 resp.
5
Internal company database
4%/ 31 resp.
6
Reonomy
2%/ 16 resp.
7
REIS by Moody’s Analytics
0%/ 3 resp.
8
Other
4%/ 30 resp.

How do you gather your comp information and data?

723 out of 730 answered

1
CoStar
44%/ 323 resp.
2
I source this data myself
39%/ 287 resp.
3
My company provides this data
7%/ 57 resp.
4
Compstak
6%/ 46 resp.
5
Reonomy
1%/ 10 resp.

Do you share your comp data with others at your brokerage?

726 out of 730 answered

1
Yes, all
51%/ 372 resp.
2
Yes, but only some
32%/ 237 resp.
3
No, I keep it private
16%/ 117 resp.

Does your company have a shared contact and research database?

724 out of 730 answered

1
No
54%/ 393 resp.
2
Yes
45%/ 331 resp.

What tool does your company use, if you have a shared database?

317 out of 730 answered

1
Database built in-house
14%/ 47 resp.
2
ClientLook
11%/ 35 resp.
3
Salesforce
10%/ 33 resp.
4
Buildout Elite
10%/ 32 resp.
5
Spreadsheets
10%/ 32 resp.
6
Outlook
7%/ 23 resp.
7
Apto
5%/ 16 resp.
8
CoStar Brokerages (formerly ReApplications)
5%/ 16 resp.
9
Hubspot CRM
5%/ 16 resp.
10
None
4%/ 13 resp.
11
RealNex
2%/ 7 resp.
12
AscendixRE
1%/ 6 resp.
13
REthink CRM
1%/ 6 resp.
14
Paper forms
1%/ 4 resp.
15
Microsoft Dynamics
0%/ 1 resp.
16
Other
9%/ 30 resp.

Would you recommend this tool to others as a shared database tool?

152 out of 730 answered

1
Yes
82%/ 125 resp.
2
No
17%/ 27 resp.

Do you keep a private database?

725 out of 730 answered

1
Yes
83%/ 608 resp.
2
No
16%/ 117 resp.

What tool do you use, if you keep a private database?

586 out of 730 answered

1
Outlook
24%/ 143 resp.
2
Spreadsheets
22%/ 134 resp.
3
ClientLook
12%/ 71 resp.
4
Database built in-house
5%/ 30 resp.
5
RealNex
4%/ 26 resp.
6
Salesforce
3%/ 22 resp.
7
Apto
3%/ 21 resp.
8
Buildout Elite
2%/ 17 resp.
9
None
2%/ 13 resp.
10
Paper forms
2%/ 13 resp.
11
Hubspot CRM
1%/ 11 resp.
12
REthink CRM
1%/ 8 resp.
13
Microsoft Dynamics
1%/ 6 resp.
14
CoStar Brokerages (formerly ReApplications)
0%/ 5 resp.
15
AscendixRE
0%/ 3 resp.
16
Other
10%/ 63 resp.

Would you recommend this tool to others as a private database tool?

167 out of 730 answered

1
Yes
80%/ 134 resp.
2
No
19%/ 33 resp.

How do you prospect for new clients?

723 out of 730 answered

1
Referrals from past buyers/clients
75%/ 545 resp.
2
Cold calling/prospecting
69%/ 505 resp.
3
Referrals from other brokers
54%/ 393 resp.
4
Community involvement
48%/ 352 resp.
5
Organization memberships
37%/ 271 resp.
6
Social media
32%/ 234 resp.
7
Website lead forms
20%/ 150 resp.
8
Outsourced lead generation service
6%/ 46 resp.
9
Other
3%/ 23 resp.

How many hours a week do you spend prospecting?

725 out of 730 answered

1
1–5 hours
48%/ 354 resp.
2
6–10 hours
30%/ 224 resp.
3
11–15 hours
10%/ 78 resp.
4
16–20 hours
6%/ 48 resp.
5
> 20 hours
2%/ 21 resp.

On average, how many new listings do you expect to win per month?

723 out of 730 answered

1
1–2
49%/ 361 resp.
2
< 1
27%/ 195 resp.
3
3–4
17%/ 126 resp.
4
5–6
3%/ 26 resp.
5
7–8
1%/ 7 resp.
6
9–10
0%/ 5 resp.
7
> 10
0%/ 3 resp.

What is the price of your average listing?

717 out of 730 answered

1
$500,000–999,999
25%/ 180 resp.
2
$1M–2M
24%/ 172 resp.
3
> $2M
18%/ 129 resp.
4
$400,000–499,999
9%/ 67 resp.
5
$200,000–299,999
6%/ 48 resp.
6
$100,000–199,999
5%/ 41 resp.
7
$300,000–399,999
5%/ 41 resp.
8
< $100,000
5%/ 39 resp.

What is the length of your average deal cycle from first on market to close?

724 out of 730 answered

1
4–6 months
42%/ 307 resp.
2
7–12 months
32%/ 236 resp.
3
2–3 months
15%/ 115 resp.
4
> a year
8%/ 59 resp.
5
Less than a month
1%/ 7 resp.

What is the number one reason you use a listing site?

721 out of 730 answered

1
Advertising/exposure
67%/ 484 resp.
2
Lead generation
14%/ 102 resp.
3
Client requires it
9%/ 70 resp.
4
Brokerage requires it
7%/ 51 resp.
5
Other
1%/ 14 resp.

Which listing sites do you use most?

714 out of 730 answered

1
LoopNet
72%/ 515 resp.
2
Crexi
46%/ 332 resp.
3
Catylist
17%/ 128 resp.
4
Brevitas
7%/ 53 resp.
5
theBrokerList
7%/ 52 resp.
6
42Floors
5%/ 39 resp.
7
None
5%/ 38 resp.
8
OfficeSpace
4%/ 35 resp.
9
RealNex Marketplace
4%/ 29 resp.
10
Digsy
2%/ 18 resp.
11
QuantumListing
2%/ 14 resp.
12
TenantBase
1%/ 10 resp.
13
Biproxi
1%/ 9 resp.
14
Real Massive
0%/ 5 resp.
15
Harken CRE
0%/ 4 resp.
16
RealtyZapp
0%/ 4 resp.
17
Truss
0%/ 4 resp.
18
List Self Storage (List)
0%/ 3 resp.
19
Rofo
0%/ 3 resp.
20
Spacelist
0%/ 3 resp.
21
Radius
0%/ 2 resp.
22
RealConnex
0%/ 2 resp.
23
Koss REsource
0%/ 1 resp.
24
LocationOne (LOIS)
0%/ 1 resp.
25
imbrex
0%/ 0 resp.
26
LDCRE (Leavitt Digital)
0%/ 0 resp.
27
Other
10%/ 74 resp.

Once you win a listing, do you manage the marketing process or will someone on your team manage it?

722 out of 730 answered

1
I do
69%/ 502 resp.
2
Someone on my team
30%/ 220 resp.

Which tactics do you use, if you manage your marketing?

503 out of 730 answered

1
Email
84%/ 426 resp.
2
Listing sites
76%/ 385 resp.
3
Personal relationships
67%/ 340 resp.
4
Website
61%/ 309 resp.
5
Cold calling
51%/ 260 resp.
6
Social media
47%/ 239 resp.
7
Digital advertising
43%/ 221 resp.
8
Traditional advertising
17%/ 88 resp.
9
Press releases
11%/ 60 resp.
10
Blog
5%/ 29 resp.
11
Other
3%/ 16 resp.

Which tactics do you find most effective, if you manage your marketing?

501 out of 730 answered

1
Listing sites
29%/ 148 resp.
2
Personal relationships
19%/ 99 resp.
3
Email
18%/ 91 resp.
4
Cold calling
16%/ 84 resp.
5
Digital advertising
6%/ 33 resp.
6
Social media
3%/ 17 resp.
7
Website
2%/ 13 resp.
8
Traditional advertising
1%/ 7 resp.
9
Blog
0%/ 2 resp.
10
Press releases
0%/ 1 resp.
11
Other
1%/ 6 resp.

Once you close your deal, do you manage the back-office process or will someone on your team manage it?

721 out of 730 answered

1
I do
54%/ 390 resp.
2
Someone on my team
45%/ 331 resp.

What technologies do you use, if you manage your back-office process?

382 out of 730 answered

1
I manage my back-office process manually
78%/ 298 resp.
2
Buildout Elite
6%/ 26 resp.
3
CoStar Brokerages (formerly ReApplications)
2%/ 9 resp.
4
Dealius
1%/ 7 resp.
5
CommissionTrac
1%/ 5 resp.
6
Other
9%/ 37 resp.

Would you recommend this technology to others for their back-office work?

47 out of 730 answered

1
Yes
85%/ 40 resp.
2
No
14%/ 7 resp.

In your opinion, what is the economic outlook for CRE in 2020?

724 out of 730 answered

1
Somewhat positive
36%/ 266 resp.
2
Very positive
20%/ 149 resp.
3
Somewhat negative
19%/ 139 resp.
4
Neutral
18%/ 132 resp.
5
Very negative
5%/ 38 resp.

Which property type do you expect to sell or lease the most of this year?

726 out of 730 answered

1
Office
27%/ 196 resp.
2
Industrial
23%/ 168 resp.
3
Retail
19%/ 138 resp.
4
Multifamily
12%/ 87 resp.
5
Land
9%/ 69 resp.
6
Medical
2%/ 20 resp.
7
Single tenant net lease
2%/ 18 resp.
8
Hospitality
2%/ 17 resp.
9
Special purpose
1%/ 13 resp.
10
Student housing
0%/ 0 resp.

How do you stay up to date with what’s going on in CRE?

725 out of 730 answered

1
Business news
80%/ 582 resp.
2
CRE news
77%/ 565 resp.
3
Social media
49%/ 358 resp.
4
Networking events
46%/ 338 resp.
5
Company trainings
17%/ 128 resp.
6
Other
4%/ 35 resp.

For the last three years, brokers have identified relationship-building as their top stimulus for winning business. Do you think this will be your top stimulus in 2020?

721 out of 730 answered

1
Yes
93%/ 676 resp.
2
No
6%/ 45 resp.

How will you cultivate your relationships in 2020, if reported as your top stimulus?

675 out of 730 answered

1
Regular phone calls
77%/ 520 resp.
2
Regular emails
74%/ 502 resp.
3
Community events
55%/ 373 resp.
4
Lunches
55%/ 371 resp.
5
Dinners
28%/ 189 resp.
6
Happy hours
27%/ 183 resp.
7
Golf outings
16%/ 110 resp.
8
Gift giving
12%/ 86 resp.
9
Other
6%/ 45 resp.

What do you predict your number one stimulus for winning business will be in 2020, if not relationship-building?

45 out of 730 answered

1
Prospecting
40%/ 18 resp.
2
Personal reputation
37%/ 17 resp.
3
Online presence
11%/ 5 resp.
4
Gathering more property data
4%/ 2 resp.
5
Company brand
2%/ 1 resp.
6
Professionalism of materials
2%/ 1 resp.
7
Other
2%/ 1 resp.

Do you believe the CRE industry staffing needs will grow, shrink or stay the same in 2020?

722 out of 730 answered

1
Stay the same
42%/ 308 resp.
2
Grow
29%/ 213 resp.
3
Shrink
27%/ 201 resp.

Does your company plan to actively recruit more brokers and other team members this year?

726 out of 730 answered

1
Yes
60%/ 437 resp.
2
Not sure
21%/ 153 resp.
3
No
18%/ 136 resp.