We interview the top loan originators and salespeople in the multifamily and commercial real estate industry. Our goal is to find out what separates the top sales people from the rest of the pack.
In this podcast episode, Mordecai Rosenberg hosts Eric Rosenstock, a seasoned loan originator, to discuss various aspects of the multifamily mortgage industry. They start by discussing Eric's career journey, noting the importance of persistence, self-belief, and willingness to learn in achieving success. Eric's multifaceted role at Greystone involves building relationships, analyzing deal structures, and coordinating with various teams to ensure successful transactions. Discussing the multifamily loan origination process, they highlight how originators must understand the needs of multifamily owners and recommend suitable loan products. The conversation underlines the importance of trust in these relationships, emphasizing that originators must truly understand their clients' needs and communicate effectively to foster this trust.The conversation wraps up with a discussion on market challenges, the importance of execution, and the value of knowledge and experience. They delve into the complexity of the current market, noting the challenges presented by rising interest rates and the ongoing impact of the pandemic. The pair suggest that in the face of these obstacles, more sophisticated producers with a deep understanding of their product and the market stand a better chance of success.What separates the top salespeople from the rest of the industry. (0:15)What's the sales process like when you're starting out? (1:43)Perseverance in the face of competition. (6:44)What's an originator? -. (14:54)Selling on knowledge vs. selling on sales. (17:00)Balancing origination with family. (25:24)How to avoid big mistakes in business and life. (30:41)The importance of having a relationship with your clients -. (36:24)The importance of having a mentor in the industry. (42:07)What are you doing if you're starting out? (49:05)What's the return on equity? -. (54:05)lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt
In this episode, Mike Kemether, Executive Vice Chair at Cushman and Wakefield, discusses his engineering background and how he applies engineering principles to sales in commercial real estate. He emphasizes collaboration and building a team to provide the best service to clients, and shares his perspective on the state of the real estate market and the importance of strong partnerships.lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt
The story highlights the speaker's experience as a teenager working at a phone repair kiosk, where customers would frequently ask if he could fix their broken screens. The speaker then taught himself how to fix screens and began selling them at a profit, eventually sourcing them in bulk from Alibaba to lower the cost. The story also touches on the theme of listening to customer needs and responding to them in order to create a profitable business.00:01 Introduction to this episode.07:13 Selling screen protectors.13:01 Being data-driven and sharing information.15:00 Transparency creates value for both sides.18:58 Lessons learned from John's pitch.25:50 The importance of having committed clients.31:21 Comparison of debt service on a deal by deal basis.36:45 Risk of taking a gamble.40:38 Long term maturities and extensions.lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt
SUMMARY:Gideon Gil, Executive Managing Director at Cushman and Wakefield, is interviewed on the origination podcast. Gil talks about his early sales experiences, the importance of storytelling in sales, and how to create a sense of calm for clients during chaotic market conditions. He also discusses the trend towards bigger deals in the multifamily industry, and the role of relationships in closing transactions.TIMESTAMPS:0:15 - Introduction to this episode.1:40 - What Gideon's earliest sales experience looks like in his life7:08 - Never Split The Difference9:42 - What are some of the war stories that come to mind for you?15:22 - Advice for people who want to get into the industry20:23 - Presenting deals to an investment committee with 30 years of experience24:47 - What is the key to telling a good story?29:39 - How to use social media to get your message out34:39 - Is there a “one size fits all” answer?40:43 - The importance of getting ahead of the market in order to be ready when the market breaks46:55 - Are there any banks or lenders starting to sell loans in distressed markets?
SUMMARY:On this episode, I had the pleasure of speaking to Henry Stimler who is an Executive Managing Director at Newmark. Henry certainly knows how to go hunting for whales. Yeah, he actually closed new marks largest agency deal, clocking in at $1.85 billion. That's the kind of loan that every originator fantasizes about. Henry came to the country from England with foreign dollars, and no industry background, but somehow was able to land those types of deals within just about 10 years from entering the industry. So how did he do it? There are a couple of themes that I think you'll hear you're one is the enthusiasm and energy with which Henry approaches the business. Energy is attractive. energy and enthusiasm you make people want to be around you. And you'll hear that come across very clearly in my conversation with him. The other component that you'll hear is the idea of really focusing on the client and what's in it for them, how can you help them grow their business, it's not about selling a product, it's about helping them achieve their future. This is really an awesome conversation. TIMESTAMPS:0:00 - What separates the top performers from the rest.1:57 - What's your earliest sales experience?7:46 - How to get into the world of multifamily finance.11:14 - How he got into the real estate finance business.16:55 - What is the best piece of advice you can give someone trying to make it?22:10 - You can act confident even if you don't feel courageous.28:21 - The most important thing in the multifamily business is your ability to raise equity -.33:21 - How to get your foot in the door -.37:03 - What's your approach when you're working with an originator who doesn't want to close a deal.41:41 - What's the future of fixed-rate finance?45:29 - How do you stay in contact with clients and provide value in a non-transactional environment?52:01 - The first thing that people lose in times of distress is their future.
Summary:On this episode, Mordecai speaks with Craig Branton, who is a vice chairman with Cushman and Wakefield, recorded at the end of October 2022. The multifamily market is kind of in turmoil, interest rates are up by several points, and so sales have grounded to a halt and refinancing has slowed. So what do you do as a salesperson? What do you have, when you don't have something to sell at that current moment where the where the market is not very transactional. We dive into these questions with Craig, who shares really great ideas on what you can do during this time. Timestamps:0:15 - What Do You Do When You Don't Have Something To Sell?1:41 - Craig's Earliest Sales Experience4:57 - How Sales Training Is Different From Sales Training11:07 - The Importance Of Cold Calling vs. Networking17:11 - Demonstrating Differentiated value22:04 - What Is The Most Difficult Part Of The Business?25:37 - The Importance Of Taking On Deals That Have A Reasonable Chance Of Going Sideways31:35 - Selling People Like To Get High And Hope36:21 - Why People Do Business With You43:31 - Advice To Clients47:40 - What's Happening With FHA Financing51:41 - What's Going On In The Multifamily Market Today56:35 - How To Measure The Success Of Your Database
Building knowledge is incredibly important, but the anticipation of what's around the corner can be even more important for an originator. Aaron Krawitz is excellent at both. He is the founder and CEO of Bravo Capital, and offers his perspective on the importance of the originator's role in loan sign ups, how to build your brand, and how to continuously grow and build your skills and knowledge.TIMESTAMPS: 1:22 - Aaron's Earliest Sales Experiences8:04 - We've Surrounded Ourselves with an Exceptional Team15:48 - Starting as an Analyst vs. an Underwriter20:22 - How to Make a Craft at Origination 25:32 - What's Your Formula for Underwriting and Closing?31:31 - Preparing Your Team for Their Next Job35:29 - Building Your Own Brand and Building Your Own Platform42:16 - The Benefits of Having a Regional Approach in the FHA Space.48:04 - What is the Off Ramp From Origination?53:51 - How Do I Best Serve My Customers?
Andrew Dansker has carved out a niche in the origination world, and has used his unique value proposition to create an incredibly strong referral source of business. He walks us through his journey during this episode, as well as discusses that impossible thing for a sales person: work life balance.TIMESTAMPS: 11:23: How To Align My Interests With the Interests of People I'd Like to Have as Referral Sources13:06: Understanding What You're Selling27:32: Growth and Learning Over Time 29:30: What You Do vs What You Do Well 37:39: Making Your Referral Source Look Good 38:39: Work Life Balance 46:41: At What Point Can You Start Setting Limits 51:09: Advice For Newer Salespeople
Mordecai interviews top originator, Shana Daby of Greystone, in this 34th episode. Shana discusses her path from underwriter to originator, the similarities between selling and teaching, focusing on service, and her drive to take on the complex and "hairy" deals.TIMESTAMPS: 02:00-05:07 Early Sales Experience 05:07-07:13 Transition into Lending08:38-11:16 Selling vs Teaching: The Similarities12:41-15:11 Selling the Long Term15:11-20:07 Inflation 23:10- 30:03 Brokered vs Direct Business30:04-32:59 Focus on Service Over Product37:42-40:24 You Can Do Nothing Wrong and Still Lose44:40-49:07 Accountability
What do you do when interest rates start to move on you? What do you do when they're now up half a point or a point from where you started? How do you keep the client still invested in the outcome? Tune in and learn from the best, the professor himself, Joe Averbook. TIMESTAMPS: 02:00-05:07 Early Sales Experience 05:07-07:13 Transition into Lending08:38-11:16 Selling vs Teaching: The Similarities12:41-15:11 Selling the Long Term15:11-20:07 Inflation 23:10-29:59 Brokered vs Direct Business30:04-32:59 Focus on Service Over Product37:42-40:24 You Can Do Nothing Wrong and Still Lose44:40-49:07 Accountability
Executive Vice President of Bellwether Enterprise Real Estate Capital, Jim Gillespie, oversees affordable housing finance and started their direct bond purchase program. He and Mordecai discuss what a "no" means in the industry and how to look at it like an opportunity, as well as current trends in sales.TIMESTAMPS: 1:36 - Early Sales Experience4:17 - Approach to Retail Sales and Seeing People's Energy9:51 - Maybe It Will Kill You14:04 - Asshole or Straight Shooter?20:09 - That Rolodex!23:14 - It's a Pretty Small Industry25:24 - Got My Foot in the Door!30:21 - Turnover Now vs Then34:10 - Competition and Performance36:32 - Experiences Between Companies41:19 - Selling One or the Other45:40 - Minimizing Options to Make A Decision48:20 - The Team Focus
How do you get to be a $7 Billion guy? In this episode, we find out from the best: Mordecai interviews Chris Sower, Executive Managing Director with Cushman & Wakefield, and a salesman who has represented over 42,000, multi housing units, and closed over $7 billion of transactions. TIMESTAMPS: 1:54 - Early Sales Experience7:21 - The Line Between Sales and Execution11:56 - Differences in Process for Unit Size14:36 - Change in Perception on Larger Sales17:16 - Safety Zones21:00 - What Do You Look For When Hiring Salespeople?23:53- What Makes a Collaborative Sales Environment?29:42 - Understanding Trends Based On Your Market31:05 - Training Your Competition36:55 - The Whole Is Greater Than The Sum Of Its Parts39:46 - Current Trends44:30 - Not All Clients Are Equals47:45 - Trends in Land Sales53:10 - Changes in Waterfalls?54:51 - Advice For College Grads Coming Into The Business
For the 30th Origination episode, Mordecai interviews Jorge Rosa, Cushman & Wakefield's Executive Managing Director of the Washington Metro Office. They discuss the recent upheaval in the market and how to build a relationship even after losing a deal.Timestamps:1:44 - Early Sales Experience17:14 - We Are Advisors First24:47 - Timing is Everything28:08 - Acquisitions vs Broker30:15 - Transition from Acquisition to Broker33:22 - Current Market Trends47:30 - Advice to New Grads on Going Lending or Investment52:55 - Common Mistakes of Recent Grads55:44 - Being Present
It's truly amazing how people can take their early career experiences and apply them to sales in our industry. Lisa Fischman is a remarkable originator who got her start in marketing and branding. In this interview, she also delivers one of the craziest customer service stories I've ever heard.TIMESTAMPS: 2:05-12:20 Early Sales Experience 12:28-30:35 Transition into Real Estate33:00-36:45 Balancing the Process 37:12 - 42:47 Broker and Lender Position 42:47 -48:44 Staying Involved in the Process 49:36 -54:30 Current Market Trends
While the commercial real estate industry is historically sleepy, nothing could be farther from the truth when it comes to Yaakov Zar's Lev Capital. Started less than 3 years ago, recent estimates have them worth as much as $400M. Yaakov has a remarkably entrepreneurial spirit and a tenacious focus on the customer experience, as he tries to make life easier for both the borrower and the lender. Timestamps:1:45 - Chabad and Shaliach8:19 -15:58 - Early Sales Experience15:58 - 27:23 - Transition into Real Estate28:03 - 31.20 - Balancing the Process31:20 - 32:02 Lev Capital and Why32:02 - 45:12 - Technology and Lending49:06 - 53:51 - The Façade of LinkedIn
Mordecai interviews Marvin Jeremias in the wake of his newly launched Crossmark Capital. Before embarking on this new venture, Marvin was one of the most tenacious and focused top salespeople at Meridian. In addition to being that rare person who loves cold calling, he is an educated and respected advisor to his clients. Contact:Marvin Jeremiasmarvin@crossmarkcapital.com917-312-0931TIMESTAMPS: 2:05-12:20 Early Sales Experience 12:28-30:35 Transition into Real Estate33:00-36:45 Balancing the process 37:12 - 42:47 Broker and Lender Position 42:47 -48:44 Staying involved in the process 49:36 -54:30 Current Market trend
How do you know if starting your own business is right for you? Nathan Schuss grew from originator to founding and being the CEO of Harper Capital Partners. In this conversation, Nathan and I discuss his journey, as well as the immense potential for both growth and its opposing limitations. TIMESTAMPS: 2:28-4:32 Early Sales Experience 4:32:00-12:28 Lessons Learned 12:32 - 32:59 Getting Started in Business 32:59 -36:28 Self Awareness 38:08 -52:27 Leadership
Dan Sacks made the leap from underwriter at Freddie Mac to the top originator at Greystone, within a few short years. During this episode, we run the gamut from selling (and tasting) chocolates to an illustrious sales career and the transition to leadership.1:30 - 7:00 Early Sales Experience, Lessons as a Kid7:00 - 10:00 Career Development10:00 - 19:00 Creating a Skill Set, Adding Value19:00 - 27:00 Adapting to New and Changing Markets27:00 - 35:00 Building Confidence as a Salesperson35:00 - 45:00 Discover and Strengthen Unique Abilities45:00 - 51:00 Lessons in Management51:00 - 58:00 How to be a Good Leader
JD Stettin is one of the most solution-oriented and innovative people in the industry. He and Mordecai explore his path from selling Citrons as a boy to selling cleaning solutions, joining Greystone, and then branching out to form his own company, and the creative outlook required to found something that bridges the gap between lenders and the rest of the services a client might need. 2:02 - 12:17 Selling for Sukkot12:17 - 21:44 A Foray in the Cleaning Industry21:44 - 35:25 Sales, Management, and Sales Coaching 35:25 - 40:03 Site Visits40:03 - 57:50 Founding Carnegie Capital57:50 - 1:03:43 Current Trends
Rob Rubano of Cushman & Wakefield joins Mordecai Rosenberg on the Origination Podcast for a lively discussion ranging from Rob's soccer stint in the Olympic Development Program, selling products as a mechanical engineer, acting in Los Angeles, and commercial real estate. Mordecai digs into Rob's experiences on the advisory side and what keeps bringing clients back, as well as current capital markets trends. Please enjoy this initial episode celebrating the new partnership between Greystone and Cushman & Wakefield.Timestamps:2:00-8:00 Early Sales Experience 8:00-14:00 Relationships in Real Estate, Adding Value14:00-22:00 Lessons as a Kid, Facing Rejection22:00 - 38:00 The Current Business, Setting Yourself Apart 38:00 -40:00 Importance of Transparency40:00 -44:00 How to be a Good Lending Partner45:00-53:00 How to Handle Multiple Larger Financial Institutions53:00 -56:00 Trends and Changes in the Last 20 Years
Tune in to this special double-guest episode with the co-founders of Monticello Asset Management, Alan Litt and Tom Lally. Timestamps:1:34 - 10:49 Early Sales Experience 10:50 - 16:03 Don't Give Up, Overcome Setbacks16:03 - 32:00 Building Relationships, Making Connections 33:52 - 40:30 Admitting When You're Wrong, Evolving the Experience 40:30 - 47:41 Staying Positive During Uncertainty. 47:50 - 52:31 Collaboration, Building Relationships
Meet the only individual I know in the industry who has his title trademarked--Adam Lipkin is known as the "C-PACE guy" after getting involved and becoming really the expert at this new type of financing. Just having his name trademarked will clue you into the fact that Adam doesn't approach the industry and opportunities like everyone else. His creative approach to the business is innovative and unique!TIMESTAMPS: 2:00-10:00 - What is Wim Hof Breathing? 10:00-15:00 - Early Sales Experience 15:30-19:00 - School outreach, charter school business19:00-32:00 - What is CPACE? 33:00-35:00- Why Trademark? 37:00 - 42:00 - Pull Marketing42:30-44:30 - What are sales people doing wrong with their approach now? 45:00-51:30 - Advice to those starting out in the industry53:00-57:00 - How can you learn more about CPACE? 57:00 - Morning Routines
Jeffrey Morris is the founder of MSF Real Estate Capital, which was acquired by Walker and Dunlop in 2020. Jeff has been in the industry for 30 years, and has been a salesperson for longer than that. In this episode, he covers how he learned sales from really a young age and learned to build rapport by establishing commonality with the person he's talking to. I hope you enjoy this episode as much I did. TIMESTAMPS2:08- 14:42 : Early Sales Experience, How to Sell Yourself and How to Approach Conversations16:25- 20:56 : Speaking Success Into Existence20:56- 25:38 : Working Past Failure and Insecurity26:00-27:50 : Have You Ever Fired a Client?27:50 - 35:55 : Nature vs Nurture, and Confidence--Who Has It? 37:00-45:00 : How Else Can Someone Succeed After Origination? 48:00-53:00- What Legacy Do You Hope To Leave Behind in This Industry?
Ira is the founder of Eastern Union, but also recently founded a new company called Gparency, which is really going to reinvent how the brokerage business is done. While much of the multifamily and finance industry is very reluctant to change and slow to adopt technologies, Ira has repeatedly tried to reinvent his business many times at Eastern and now with the latest round at Gparency.Timestamps:1:42- 3:35 - Happiness in the Business World4:03 - 5:53 - First Sales Experience6:23 - 13:28 - The Influence of a Father14:01 - 21:48 - Day One in Brokerage World and Early Business Influences22:29 - 57:48 - New Business Venture
Aaron Jungreis is the founder and CEO of Rosewood Realty Group. Aaron started the company in 2007 and has sold over 2,200 properties with an aggregate value in excess of $16 billion. Aaron started this firm from scratch in the most competitive market in the world, New York City. He went up against the largest brokerage firms in the world. Aaron has given a new definition to the word hustle, and if you want to know what hustle looks like, tune in now.Timestamps:1:40-13:50 First Sales Experiences 13:53-17:30: Confidence, realizing he is great at sales but getting through some hardships to find that. 18:20 - 26:18: Early on approach to real estate26:22-29:48: The power of Hustling30:41-34:57: How Aaron stays motivated35:29-42:54: Lessons in Real Estate Aaron's experience taught him42:56-48:06: The New York Real Estate Marketing today
Mordecai and Billy Posey contemplate the positives and negatives when the opportunity of moving from a sales role to a leadership role in the same firm, or the possibility to start their own firm arises in one's career. Billy was most recently the head of Greystone's agency business, a role that he filled for about 15 years, and came out of retirement to grace us with his wisdom. Time Stamps:4:42 - Early Sales Experience and Door-to-Door Auditing14:34 - Building Relationships18:08 - From Accounting to Origination26:57 - To Partner or Not To Partner30:37 - Transitioning from Originator to Senior Leadership42:13 - Management and Protecting Your Team46:42 - Advice For the New and Up and Coming Sales Teams
Erik Lindenauer is the founder and Executive Chairman of Housing & Healthcare Finance. He is interestingly, the second person we've spoken to on the podcast, who got his start in sales by selling shoes. We'll examine a potential connection between selling shoes and origination, creating a positive customer experience, and how to stay motivated in the origination game.TIMESTAMPS: 2:30 - 7:00 - Early Sales Experiences and Mom's Pottery7:30 - 34:00 - Creating a Positive Customer Experience35:00 - 39:00 - Choosing Your Client39:00 - 42:30 - Retail Sales vs Origination Sales42:30 - 51:00 - Staying Motivated51:30 - 59:00 - Finding Your Team and Working Together
Josh Sasouness is one of the hungriest sales people you will meet. He is the co-founder and co-CEO of Dwight Capital, which is a leading FHA lender in the country, as well as the founder and partner in Dwight Mortgage Trust, Dwight Funding, and Dwight City Group. In this episode you'll hear the scope of Josh's journey from an apartment broker right out of school to the CEO and founder of the companies he runs now.TIMESTAMPS: 2:16-3:55 - Early Sales Experience 7:09-10:00 Bringing value, and knowing your value 10:17-13:23- Honing your approach, expanding your knowledge. 16:48-25:00 How to stay motivated, pace yourself along successful people, and push yourself 28:00-32:00 Picking a role model, mentor, learn from everyone. 32:37-37:09- Spirituality in personal and business life. 45:00-48:00 Connecting and celebrating others 48:45-55:00 - Advice to those starting out, and advice to past self.
On this episode, I'll be speaking with Steve Rosenberg, the founder and CEO of Greystone. I am also lucky enough to have him as my father. I think you'll enjoy this conversation as we discuss how he got his start in sales, what continues to motivate him after achieving success, and what a starring role in the third grade play has to do with origination. 2:00 First Sales Experiences, and Confidence. 6:30 How to Connect? Adding value. 21:40 Defining Success, Overcoming Difficulties, and Connecting. 35:00 Be Thankful for What You Have, Surround yourself with positivity. 45:00 Routines before and after Covid. 49:00 What would you say to your past self? What would you say to someone starting out?
Aaron Hargrove is one of the co-heads of Greystone's affordable housing investment sales group. During our interview, Aaron demonstrates what it means to be successful by adding value, providing knowledge and information, and going the extra step to understand the client's business.2:10 Early Sales Experience: The Tree Farm10:07 Using Your Gifts14:11 The First Sales Meeting is a Gratitude Meeting22:34 What To Do After Achieving That Goal27:45 Being Empathetic to Your Team Enables Effectiveness34:07 Utilizing Your Team's Gifts39:38 Clear Communication Eliminates Client's Confusion Over So Many Choices42:14 Shocking Cap Rates49:30 The Knowledge Sharing Approach
On this episode, I'll be speaking with Elisa Brown, the CEO and founder of Mapps Travel Agency. Having just returned from a fantastic trip planned by Elisa, I thought there were lessons that all of us could learn from how Elisa operates her business and the above and beyond customer service she provides.4:00 - Customer Service19:00 - How to determine if Mapps Travel is the right fit for you30:00 - Accommodating rapid change requests38:00 - Travel amidst new Covid concerns 43:00 - How to actually relax and enjoy your vacation 47:00 - Managing expectations on your trip 51:00 - How to find Elisa and more on her specialties
Blake and I discuss books, empathic technology, and the origin story of his lead generating machine.Time Stamps:2:17 The Tim Ferriss of Loan Origination4:07 Blake's early inspirations5:52 The best lead generating machines in the multifamily industry8:22 Where technology meets real estate finance 10:11 A foray into hacking and speaking tech to non-techies14:42 Empathetic technology and innovation17:37 Multifamily.loans origin story23:26 What do people want to know and how do we get them to see our answers? 31:50 Successful people operate in their zone of genius 33:24 Removing our self-imposed upward limits39:32 Deal junkies
Join me and JP as we discuss his companies, Loan Boss and Pensford Financial Group, and the innovative system he has created.See the timestamps for topics:1:33-5:30 Entrepreneurs as Salespeople5:30-7:19 First Sales Experience8:42-13:09 Persuasion/Empathy13:09-16:28 Compromise/Value Exchange16:28-20:50 Loan Boss20:50-24:13 Target Buyer24:13-27:28 Business Development27:28-30:47 Digital Marketing30:47-33:57 Return Rate 34:52-39:11 Offering Value39:11-47:20 Technology & Salespeople
Peter runs Marcus and Millichap, New York City investment sales office, and has been a dominant figure on the scene for well over a decade. Peter is the host of several multifamily podcasts, including Behind the Break, where he covers the Manhattan market, as well as Multifamily Memo where he talks about other markets across the country.Mordecai and Peter have a conversation ranging from his first garage sale experience to becoming a thought leader in the industry.See the timestamps for specific topics:2:27 First Sales Experience8:42Understanding the Buyer in the Sales Process12:19Cold Calling20:46Technology in the Industry25:36Debt Sales vs. Investment Sales32:06Client Retention 35:44Becoming a Thought Leader38:56Advice to Younger Self
The tables have turned as I am interviewed by G2 team member Ben Bullock.Can efficiency and innovation be a spiritual endeavor? Why did I decide to start this podcast? Why salespeople get the glory … yet receive so little love? Future plans for the podcast … and more. Time Stamps:01:18Inspiration for starting the Origination Podcast4:00This podcast is as an open-source knowledge sharing forum for originators and salespeople8:01G2 as an innovation lab within the lending business12:22Working within your own unique ability19:07A hero to guests and a hero to themselves25:04Future of the podcast30:04Sales from diverse perspectives30:46Technology is best when used to alleviate specific pain points42:16My goal is to help people identify what their unique ability is, but then I want them focusing their time on their unique ability50:20There is so much uncertainty in multifamily lending that cannot be controlled. Our job is to eliminate the uncertainty that we can control.
Sam Freshman founded Standard Management Company and has been a multifamily investor since 1961. I thought it would be interesting to speak to Sam about what it's like being on the other side of the table as a buyer. Listen to particular topics at these times:2:05 – Which relationships should you “buy and hold”8:36 – You need to capture the prospect's attention within the first 10 seconds12:05 – Referrals are the “silver bullet” path into a client17:44 – Never be old enough to know better20:19 – Only compare yourself with your own potential – not someone else's32:04 – The importance of picking the right target audience33:50 – A client is not thinking about you when you are not in front of them39:55 – The most important thing to look for when buying a multifamily apartment40:59 – The most important thing to look for when buying a retail property42:43 – Current pricing levels and inflation
On this episode, we'll be speaking with Ana Ramos. Ana has over 20 years of commercial real estate experience, and it's closed well over $2 billion of deals. She has one of the most thorough origination processes that I've ever seen in the industry. Please see the time stamps for specific topics:3:26 – Importance of responsiveness and availability4:53 – Underwriting background as a tool to provide more certainty of execution7:58 – Mindset shifts required to transition from underwriting to origination13:07 – When to fire a client16:51 – Ana's approach to a first meeting with a client21:04 – Ana's signature vetting process23:23 – Importance of gaining trust of the underwriting team25:36 – Why does the process still take so long38:08 – Challenges that women can face in origination41:51 – Market trends
In this fifth episode of the Origination podcast, Mordecai interviews Barden Brown, a top investment sales broker in the Atlanta area. See the time stamps for topics, highlighting the virtues of both patience and persistence.1:52 – Barden's introduction to investment sales3:42 – The importance of patience5:33 – Balancing patience with a sense of urgency7:51 – Can you still cold call?10:59 – Listing services are a “commodity” … but having a listing is a “monopoly”15:06 – Difference between Investment Sales and Debt Origination21:33 – Utopian integration of Debt and Investment Sales24:47 – Market trends – migration of capital from New York to Atlanta, new interest from Israeli investors in Atlanta29:19 – Investor assumptions to justify current pricing levels31:59 – Legacy owners on the sideline36:22 – Advice for college grads looking to get into the industry
Rob Russell started the CMBS group at Greystone, and now runs the special servicing group. During our conversation, we will discuss whether origination should be considered sales, the importance of understanding underwriting and program guidelines before going into origination, and about what the best first job would be for someone coming out of college who wants to get into this business. See the timestamps for specific topics:00. 34 – Is Loan Origination “Sales?” 3.29, 4.35 – What does a deep client relationship look like? 8.25 – How Rob approaches a first meeting with a client 08.45 – Why it's important for a loan originator to understand underwriting (8.45) 28.45 – Should you start your career focused on one asset class? (28.45) 33.10 – College graduates should look for jobs that encourage new ways of thinking (33.10) 37.39 – What young people should look for in a first job – hands on experience 42:30 – Current market trends – shift to bridge debt
Fred is one of the top health care originators in the country. In this conversation, Mordecai interviews Fred about his relentless pursuit for a sales position at American Express, how he applied unsuccessfully six years in a row for a sales role, and then went on to become the top sales team member. Timestamps:1:20 – 10:15: First Sales Experience and the Importance of Relationships 10:15 – 15:55: Challenges with Connecting with People during COVID, Zoom Calls, and Developing the Customer Relationship15:55 – 24:18: Human Connection, First Impressions and Breaking Down Barriers24:18 – 34:58: Entrepreneurial Culture, Problem Solving, Identifying What A Customer Needs and Adding Value34:58 – 47:07 Being a Hero to Your Customer, Holding Yourself to a Higher Standard to Succeed47:07 – 51:51: What Makes A Good Client?51:51 – 59:39: Pushing Through Challenging Times and Building Confidence
In this next episode, Mordecai interviews Abe Spira, one of Greystone's top Originators on his unique approach to origination, building client relationships, and how he was able to have 80 meetings at one NMHC conference.Timestamps:1:14 – 10:28: First Sales Experiences10:28 – 15:59: Cold Calls and Developing Relationships with Clients15:59 – 25:32: Transitioning from Residential Business to Commercial Business25:32 – 37:54: Partnership and Making Connections37:54 – 48:44: Lightbulb Moments, Success, and Self-Confidence48:44 – 52:01: Leaving an Impression and Differentiating Yourself from the Competition52:01 – 1:05:47: The Current Market, Client Behavior, COVID's influence, and the Importance of Building Relationships with Customers
In this inaugural episode, Mordecai will interview Eric Taylor, the co-head of the affordable housing division of Greystone Real Estate advisors.Timestamps:02:06 – 9:19: First Sales Experiences and Gaining Confidence09:19 – 15:25: Transitioning to Brokerage & Investment, Business Mentorship 15:25 – 22:39 Dealing with Rejection and Difficulties, Getting to Success22:39 – 30:47: Loan Origination vs. Investment Sales30:47 – 35:35 Client Retention – Developing Relationships 35:35 – 44:21 Innovation and Technology, Energy Leaks44:21 – 53:48 The Current Market, Tax credits
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