News: Spotlight Content

Jenna Pollack of C&W gives insight to her career

How did you get your start? I was presented a challenge!  When I expressed an interest in pursuing industrial sales/leasing, I was told that I should look elsewhere or settle for a more refined position in office sales/leasing. What advice would you offer to individuals just starting a career in commercial real estate? Work harder than your competitors. Don't depend on a single transaction or exclusive, but gear up as many as possible so that you can multiply the odds. What is the best advice you have given to a client?   Choose your broker wisely. Align yourself with a broker who exhibits knowledge and experience with the markets that you are located and/or expanding. In order to be profitable and to enhance your real estate portfolio, the decision maker(s) need to have a thorough understanding of the local real estate market before they outgrow existing space, at least 1-2 years prior to lease expiration, and before acquiring or merging with companies outside their market. That exposure will ultimately give the client the confidence to pursue an attractive deal or support the delay of a transaction that lacks support. Similarly, a full service brokerage house not only provides key insights to sites and opportunities that are subjective to their client's needs, brokers live and breathe the market and should be the tool in providing bargaining power and securing the best terms for their client. A broker should present every aspect of the market which may be to reveal opportunities, and highlighting potential issues/concerns that may arise before a deal is consummated. Those nuances may not be revealed if a client talks directly with the landlord or broker who represents the other party because their fiduciary responsibility is to their client. The business model should be enhanced by the company's real estate portfolio, with long term objectives of maximizing profitability by reducing inventory, minimizing lead time, and optimizing efficiencies. When real estate is treated as an integral part of your business model, it lays a concrete foundation to businesss' long term success. Communicating potential needs with your broker & exploring areas where your business may need to improve operations may expose weaknesses within existing infrastructure. Being proactive with your broker will reduce timing pressure, enable a familiarity with real estate market(s), support your business culture, and be methodical about a short- and long-term plan to achieve your long term business objectives.    What was your most challenging project in 2008 and how did it impact your career? Getting up every day with enough energy and motivation to supply the industry with market information. Who is your mentor and why? Frank Frizalone has been my mentor since I began in the industry in 2005. We have a great synergy, communicate well, and respect one another. How do you contribute to the community or industry? I am very involved in non-profit organizations and other volunteer opportunities.  I have participated in the Make-a-Wish, Big Brothers Big Sisters of Long Island golf outings for 2006-2008. What lessons have you learned from past real estate trends that can be applied to today's market? Never make the same mistake twice and be ahead of the competition! Jenna Pollack is a licensed broker associate at Cushman & Wakefield, Inc., Melville, N.Y.
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