THE BROKER

D.Sidney Potter

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This was actually the first deal I sold. Not much to look at --- just a half million dollar 'pad', but it's what I busted my cherry on. A 'pad' for example is a standalone structure that would typically be a McDonalds, Taco Bell or in this case, a 6,000 square foot structure that housed 3 tenants. This fortunately sold even though the leases were running out.

This was actually one of my first listings, but it didn’t close. What it lacked in closeability, it made up in character, as can be seen. It had great cash flow as a mixed use property, but it was a tough sale --- and might have been better suited for an owner user.

Marketing brochures of this type were either sent out by email and/or fax blast. This type of outreach proved to be effective so long as it was not overdone. The positive response from either brokers or sellers on the brochures would range from 2% to 10%.

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This is John J. Kerin. And as I describe in the book, he was straight out of central casting. Kerin was the manager at Marcus & Millichap when I started out in the Los Angeles office, and eventually became the CEO. As Machiavelli said, it's better to be feared, then loved. Kerin optimized that maxim.

This is Ronald L. Kotick. Similar to Kerin in his brute force mentality, many brokers learned a lot from Kotick at Marcus & Millichap, including myself. Kotick spent 7 years in the minor leagues before becoming a sales guy, which fit him perfectly.

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