Welcome back to the Digible Dudes Podcast. Today we have a special guest, Ryan Cohn. Ryan is an associate director for the multi-family capital markets team at Newmark Knight Frank. In 2019, his team of 12 brokers was able to sell over $2.16 billion worth of inventory.
Ryan starts the conversation explaining his background, why he chose his career, and what life is like as a broker. He gets into how he set himself apart from a real estate agent and why he prefers commercial real estate over residential work.
In the next part of the episode, we shift our focus into marketing. Ryan talks about how operators and owners are afraid of sharing their plans with property managers and other stakeholders. Ryan explains why building trust and confidence is the way to achieve better outcomes.
In the next section, Ryan talks about the usage of data technology in the brokerage arena. Ryan talks about the way data and technology were utilized before and after the age of the internet, and what the future may hold for the real estate industry in terms of data analysis and technology.
Toward the episode, Ryan talks about the COVID hit this year and how it impacted the real estate arena. He talks about how the buyer pool and the seller pool has gotten much smaller due to the impact of the pandemic and the new conditions people had to adapt to. Ryan shares the measures they used to respond to these new changes in Denver and what you can do to minimize the impact of COVID. Wrapping up the session, Ryan shares some interesting observations they’ve seen throughout the year related to the volume of deals.
[06:40] Ryan’s Background - Ryan talks about what life is like as a broker and the achievements of his team.
[19.30] Investor and Property Type – Ryan shares his experience about how the relationship between investor and the property type works.
[25.38] Growing as a Multi-family Owner – What it takes to build a strong portfolio as a multi-family owner and how to gain new acquisitions without disposing of previous ones.
[30.18] Risks and Opportunities – Being prepared for risks, working through the uncertainty, and connecting with specialists to take advantage of expert opinions and strategies.
[43.20] Building Trust - Ryan shares his wisdom on how why it’s important for owners and operators to share their plans with relevant stakeholders and how sharing information helps you build trust and confidence.
[48.20] Utilizing Data & Technology – How the utilization of data and technology contributes to the brokering arena and what the future will hold in terms of technology. Ryan also dives into how automation may affect the role of a broker in the future.
[1:04:48] Impact of COVID – How the COVID-19 pandemic affected the industry and how operators and owners can prepare for the near future.
[1:13:38] Recent Trends – Ryan shares his take on new industry trends related to different market segments.
[1:26:52] Volume of Deals – Ryan shares how the volume of deals varied during the year compared to the last year.