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Wednesday, January 07, 2009 Five Questions With...
CREF: How did you get into the real estate business? JB: I graduated from Cal Poly in 1979 and was hired six months prior to graduating by an apartment asset and management firm in Santa Barbara. I got my business degree with a concentration in human resource management and real estate. So I moved from San Luis Obispo to Santa Barbara and I was there nine and half years. In Santa Barbara, it was all real estate: asset management of apartments, self-storage, shopping centers, office buildings. Then I went to work for a company that builds condominium projects and single-family home subdivisions. I then left Santa Barbara for Victorville to form my own company, which is the brokerage side. So I've really always been in it. I don't know anything else. CREF: What prompted you to team with Colliers International? JB: We had a great alliance with CB Richard Ellis from 2000 until early 2005, but we opted not to extend that. I then got a phone call from Colliers and we started sitting down and talking. What struck me initially about Colliers is that they want people to be true entrepreneurs in a real estate brokerage environment. And I didn't see any ego at the top of the Colliers food chain, which was important to me. I'm an entrepreneur, I don't need to spend my day worrying about who I need to take care of. Also, we're now in a global economy and we're just getting a taste of that in Victorville. The only way you can play in a global economy is to play with a global player. And at the end of the day, we really liked what we saw with Colliers. It was just a good fit. CREF: What notable deals have you been involved with? JB: We just did a major deal with SunCal worth over $10 million and we've sold probably $15 million to SunCal in the last two years. There's also about 28,000 - almost 30,000 - residential units in the planning or approved stages for development within the Barstow market with SunCal. CREF: How has the industry changed since you've been involved? JB: One, the Internet has changed the way we do business. The companies that have not embraced the Internet and the different databases that are available are the companies that are going to lose. Two, business is more sophisticated now. It really is a 24/7 deal -- if someone wants to get a hold of you, it's 24/7. I think the continued consolidation of companies is also a clear change: Cushman & Wakefield buying Burnham in San Diego, Colliers buying Bradco in Victorville. The electronic database allows us to have those efficiencies we didn't have in 1979. When you look at being able to deliver information to other brokers and clients so seamlessly -- it's amazing. It's almost scary. And it's only going to get better. CREF: How does the market look over the next 12 months? JB: I think there is a little trepidation in the market. One, the world economy is where it's at. Two, housing affects everyone because it's a psychological feeling on your own balance sheet. You may not be losing your home, but if it's losing value then you're losing money. So people tend not to spend like they would normally. But, we just came through the hottest real estate market of all time so we've got to let the dust settle and let there be some adjustments. I'd probably call this year, "The Year for Adjustment." There's going to be an adjustment in the marketplace while people are digesting this. Short-term, I'm a little concerned. But most of our areas are prime targets for continued growth, so I'm not at all concerned in the long-term. Filed Under: Five Questions With... E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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