Newmark CEO: Here’s Why We Beat Other Brokerages on Talent
By Barry Gosin February 26, 2024 11:10 am
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In a Commercial Observer article this past fall, I publicly stated, “If you’re great, you should be here.” These words have never been more relevant as we observe the recent shifts in commercial real estate services and the surprising movements of talent.
Great people who are exceptional at what they do are the ones who drive change and innovation, no matter the industry. It’s our job as leaders to allow them to perform at the highest level and leverage their talents — not to stifle them and create barriers between them and their work. They are the ones who build genuine, trustworthy relationships with their clients in commercial real estate.
Consider some sectors we depend on daily, such as banking, health care and personal services. In these fields, we naturally seek the best person for the job — a doctor, a financier, a barber or stylist — rather than relying solely on a corporate brand to guide our choices.
This preference underscores a crucial point: A corporate brand is the sum of all its parts, from its talent to its innovative approaches, technological capabilities and support provided to its clients. In addition to empowering employees with technology and infrastructure, a company must offer access to top-tier research, marketing, analytics and cross-selling opportunities. It should also offer expertise in niche areas so clients can benefit from this specialization of knowledge.
A great commercial real estate services firm provides all of these in addition to the leniency necessary at the institutional level for exceptional people to thrive in their respective disciplines.
Strong communication, collaboration and cooperation should be the formula for success.
While a strong brand and company identity are vital, the actual difference is made by the individuals who drive your business. They need to be the best. The desire for connection and making a genuine professional impact is fulfilled by individuals who bring their whole selves to work, and feel supported and valued.
When I read stories about executives commenting about “the lack of qualified employees” or how “people don’t want to work,” it prompts me to reflect on the significant changes and challenges that have unfolded in recent years. We’ve witnessed a large swath of the workforce negatively impacted by an erasure of personnel-focused work environments. This has resulted in trends like quiet quitting, employee disengagement, and a decline in company loyalty.
At Newmark (NMRK), we recognize our talent as a critical driver of success. Our philosophy has always been to embrace an entrepreneurial spirit and to let our people shine, ensuring that nothing stands between our professionals and their ability to conduct business.
During my long tenure as CEO, I’ve aimed to hire the finest professionals to our platform. I’ve worked tirelessly to acquire the best talent with expertise in niche areas and knowledge required in their respective verticals to enable them to serve their clients and grow their relationships. We are here to facilitate, not to impede.
By empowering our extraordinary talent with world-class research, data analytics, and technology, they bring their best to Newmark’s clients. We refuse to let complacency impede progress in this rapidly evolving industry, and we champion the entrepreneurial spirit. Therefore, I’m doubling down on and modifying my statement from this past fall: “If you’re great, you definitely should be here.”
Barry Gosin is chief executive officer of Newmark.
