New Faces, New Firms... So I'm reading the paper, and I notice an article, "Office Realty Market Is Cool, But Market for Brokers Is Hot." (New York Times, July 8, 2002) "CB Richard Ellis, a real estate firm based in Los Angeles, plans to announce today that it has hired Mary Ann Tighe, a star in the field, and given her a $100 million budget to turn the company from an also-ran in the New York, New Jersey and Connecticut region into a powerhouse." Holy cow. $100 million. Is that true? How will the money be spent? Search me.

This story sure reflects the turmoil in the brokerage business caused by a soft economy, falling transaction volume and declining revenues. Reduced income tends to loosen the ties of firm loyalty. That's an understatement. So in changing markets you often see brokers hopping around. And I witness these changes each week as Dispatch subscribers switch from one e-mail address to another or simply disappear.

Which got me thinking again, Is there such a thing as brand equity in real estate? If so, how can you build a corporate culture to support your brand? I've already raised this issue in the June 25 Dispatch, The Real (Estate) World: Execute Or Die, which prompted my friend Matt Slepin, a partner with executive recruiter Heidrick & Struggles, to write: "Culture, training, sharing of work, partnering and teaming all matter a ton. Is a firm just a stable of good brokers or is some type of synergy and group personality created? Compensation structure, particularly among brokers, has a huge effect on incentives towards these behaviors." Well said.

Brand Leaders... So it's appropriate to recognize the terrific service providers that support the Broker "channel" at PikeNet: Staubach, Marcus & Millichap, CB Richard Ellis, CCIM Institute, Colliers International, CORE Network, Cushman & Wakefield, Jones Lang LaSalle, NAI, Sperry Van Ness, TCN Worldwide and Trammell Crow. If you'd like to join them, send e-mail or call 415-485-6700. Thanks!

--Peter Pike