But, upon further inspection, some of the most significant deals in Beverly Hills - and this model is applicable to other cities nationwide - are the result of community. Put a different way, even the most recognizable companies and consumer brands need the services of real estate professionals who approach their work with extensive knowledge (and influence within) the marketplace.
Real estate in Beverly Hills proves this point because tenants rely on the services of brokers who can provide the right guidance, which includes spotting new opportunities and negotiating terms on top retail or residential properties. And, far from being a straightforward issue of dollars and cents (this much per square foot versus that much elsewhere), every deal - yes, every deal - starts with the counsel of a broker who can see beyond the mere numbers of a proposed transaction.
Which brings us back to the issue of human capital: clients need the aid of real estate professionals who treat a city - even a global destination like Beverly Hills - like their own hometown, a place where relationships, volunteerism and civic involvement thrive. That insight translates into practical benefits, starting with the ability to navigate clients towards the right (for them) properties and leases.
So yes, this knowledge requires that you immerse yourself in the business - and community - of your city. Real estate professionals with these skills thus build the strongest force between themselves and their clients: trust. That trust extends to offering frank advice and independent recommendations, advantages that are critical for landlords, tenants and property owners alike. Compare this scenario with the alternative, where trust is an afterthought and immersion in a city - knowing all the major factors, economic and cultural, that make a place successful - is not even a consideration. That situation spells failure.
Coming back to Beverly Hills, this strategy can also yield important referrals. For example: when you have the social capital to bring clients together - when you are a recognized leader, either in your professional endeavors or personal activities - you can increase your business, thanks to word-of-mouth testimonials and your visibility among targeted media and associates. Think of these dividends as the natural rewards of treating a city like a place of interest, a destination that attracts a robust selection of commercial enterprises, residential homeowners and public organizations.
Human capital is an intangible resource, certainly, but it is a crucial variable. Real estate professionals who make this issue a priority are investing in themselves, and cultivating goodwill - and results - for their clients. These tactics are a blueprint for success, in Beverly Hills and beyond, which we should emulate throughout our industry.
Houman Mahboubi is one of the Managing Partners for BRC, a full service commercial real estate company, headquartered in downtown Los Angeles with additional offices throughout Southern California, Arizona and Nevada.
In addition to its expertise as a Transactional Commercial Real Estate Brokerage, BRC Advisors has considerable success overseeing commercial leasing. Specifically, BRC Advisors holds the distinguished position of First Place for commercial leasing in the City of Beverly Hills.
BRC Advisors also offers full service property management, overseeing more than 500 combined units of residential, multi-family, office and retail assets. The BRC Advisors NNN Net Leased Group is one of the top Triple Net Lease producers on the west coast; and has a fully integrated Database of over 60,000 net leased properties throughout the United States.
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