On this episode of the Massimo Podcast:
Eric came to the real estate market in an interesting way. As a teen living outside of Washington DC in Bethesda Maryland Eric grew up with two entrepreneurial parents. His father owned his own law firm and hired Eric as a courier for his company to help him learn about the city and its demographics. But the grooming didn’t stop there. He then worked with the real estate arm of his father’s firm and learned about the closing process. To round out his education he spent a summer working for a construction company, which he admits was not his best skill.
Being an entrepreneur and finding a great niche in any market came naturally to Eric. In his junior year at Tulane, he and a classmate realized that one person’s family-owned several restaurants and the other’s leased restaurant equipment. From there they pooled their shared family history of restaurateurs and knowledge of how the leasing process worked to create a national database to compare lenders for leasing restaurant equipment. It was very successful, yet after about a year of traveling to support the company the tax codes changed and purchasing equipment became the norm. The two sold their database to a local lender and Eric moved on to join a local real estate company.
Although Eric felt he was destined to become a commercial broker and had studied several aspects of the job, it was at this first firm that Eric really learned the mechanics of doing business in a way no internship could have prepared him for.
When he moved back to the DC area Eric took his knowledge of the city, his talent for finding a niche market, and his keen eye for doing business and developed relationships and a strong reputation in the nonprofit side of real estate. He and his team continued to create a bespoke brokerage where relationships and reputations were key factors in the success of his firm.
Rod and Eric close out the show with Eric’s 5 Key Factors to Success and you won’t want to miss them!
Eric is a founding principal of West, Lane & Schlager, LLC, specializing in tenant representation and strategic real estate consulting primarily to associations, foundations, and non-governmental organizations.
- How to niche down in your market