Selling should be a rewarding business for brokers

Real Estate Weekly, Dec 1, 2004 by Jules Demchick

As a residential developer in New York City for over 25 years, one of the key things I've learned is the value brokers bring to our industry. It is with the support of brokers that developers like me sell their buildings. We, at JD Carlisle Development Corp., make sure to show our appreciation and go the extra mile to create strong partnerships with brokers.

Brokers do so much more than make sales. The amount they contribute can be unappreciated by the industry if one doesn't stop to take a closer look. Brokers not only bring buyers, but qualified buyers into our sales offices, which maximizes the efforts of our sales and marketing team people. They also understand the buying process and can be instrumental in the decision process of a buyer.

Our buyers must be satisfied at the end of the day. That is why the brokers' role of delivering personal attention to the buyers is invaluable. They make sure the purchasers' needs are met. Since they understand both the buyers' and sellers' perspective, they are able to act as a crucial liaison in the process of delivering satisfied clients.

Brokers also have trained eyes for the spectrum of product out there--they understand and appreciate the level of finishes, appliances and amenities we put into our buildings that may otherwise be overlooked. They appreciate quality because they know the competition and understand market value. Because of this, they are industry opinion-makers whom developers must not underestimate. Brokers often have the power to make or break buildings and can create the reputation for both buildings and developers.

Satisfied brokers, who have had a good selling experience at one of our buildings, often bring buyers to our subsequent development. It's very rewarding to have an ongoing relationship with these brokers. Their loyalty parlays into symbiotic relationships and can lead to strong pre-sale support to get new projects off to a strong start.

But these relationships aren't created with just satisfied sales. We, at JD Carlisle, make sure to show our appreciation to our brokers in other ways as well.

For example, at Morton Square, we rewarded brokers who provided buyers with spa packages to convey just how much we value and respect them. We believe broker rewards such as these go a long way in motivating the brokerage community--we all work harder when we know we are truly appreciated.

We make sure to deliver our end of the bargain so the brokers gain confidence in our ability to consistently deliver as developers. First, they know they will get paid on time with us. This may seem like a no-brainer, but it is not always a given in this industry.

They also come to know that we design and build a quality product and that we will deliver our promises once the buyers move in. No broker wants to be embarrassed after a sale.

Another crucial element is knowing how to partner with brokers. Hiring the right marketing and sales team to work with the brokerage community is a must.

We work with The Marketing Directors, Inc. because they thoroughly understand the needs of the brokers. Their onsite sales staff helps to make the sales process easier for the brokers because they truly know our product and the market. The marketing and sales staff partners with the brokers, instead of competing with them, and allows us to be much more generous than we would be in a traditionally co-brokered sale. The right marketing and sales team helps to streamline the process and create an overall win-win.

We, at JD Carlisle, have enjoyed working with so many outstanding brokers at Morton Square.

We look forward to working with our broker friends now on Cielo, our newest residential condominium project at 83rd and York, as well as on other upcoming developments.

JULES DEMCHICK

PRESIDENT

JD CARLISLE DEVELOPMENT CORP.