What Do Brokerage Mergers Mean at Local Level?
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Does having fewer competitors translate into more opportunity for quality boutique brokerage firms for local, regional and national assignments? CORFAC’s David Prior thinks so.
Part 2 of 2
LOS ANGELES—“We have become a bifurcated industry. In the brokerage business, you are either corporate or boutique and local.” That is according to sources from our recent two-part look into the brokerage business, both boutique and corporate. According to Charles B. King, Jr., a past president o f CORFAC International, who is principal of King Industrial Realty/CORFAC International in Atlanta, GA, when he first started as a broker in Atlanta in 1967, all of the real estate companies were local.
Now, if you are a broker with one of the national/international firms, he says, “the client is the client of the brokerage house. If you are a broker with an independent firm, the client is your client for life—unless you die, screw up, or the client’s company is sold.”…
What Do Brokerage Mergers Mean at Local Level?
