Episode 33 of Marketing Relevance Staying Relevant Podcast is now available for listening. Join Mitch Levinson, Marketing Relevance President, and Shaun Burke, Senior Vice President with Urban Commercial Property Group, Inc. Shaun has been in commercial real estate for over 30 years so listeners will learn the ins and outs of working in commercial property real estate.
About Urban Commercial:
Urban Commercial prides themselves for always putting the client first. For example; that means looking beyond the short term and listening carefully to the needs of the clients they are serving. The company focuses primarily on office space and some industrial space. Since Shaun has been working for them, he has been doing some office real estate. However, he is branching off to do industrial real estate for them as well.
Shaun started out getting his undergrad degree at Indiana University followed by his MBA at Michigan State. After he was done with school, he went into commercial real estate since he already knew people in the industry, which also helped him achieve some deals. As an added bonus for him, it was straight commission based.
In the mid 1990’s right before getting married, Shaun decided to go out on his own and created H&B Realty. For his first deal he represented a building that was 1.3 million sq. feet at 5000 W. Roosevelt in Chicago. There was a lot of vacant in the building especially the upper floors, since upper floors were obsolete at the time. In order to get businesses on those floors, for example; he had to cut the rates and work some deals. After occupying space in the building for 10 years, he made the to Arlington Heights.
As episode 33 continues, Shaun explains to Mitch some of the challenges that he has experienced over the years. One of the main reasons he decided to join Urban Commercial was the challenges of maintaining his own business. It is essential when having your own business to stay ahead of the game, however during economic downturns that becomes a struggle.
The COVID-19 pandemic has hit the industry hard. Each area of commercial real estate has been hit differently. Shaun explains that retail was already having issues because of companies such as Amazon. Office space has been hit the hardest. For example; companies were starting to think about having employees working remotely but the pandemic hit and their hand was forced. Industrial space was the least impacted.
Shaun maintains his success by continuing to stay in touch with the people he has done business with, especially the happy ones. Even though they might not need his services for a few years, continuing to contact them keeps him ahead of the competition. When they are ready to make another deal he is ready to help. He gets repeat business because of who he is and through referrals.
Shaun works with small to medium sized companies but makes sure that he gets connected to the right people such as the decision maker of the business. Another way he obtains business is by cold and warm calling or receiving a phone call from someone who got his name off a sign.
Make sure to tune into this informative episode 33 about the commercial real estate industry. If you are looking to be a guest on our show, fill out the form. Next, we will contact you to get on the schedule. Never miss an episode by subscribing to our podcasts.