Key takeaways
Leadership lessons from 40 years in business
- Lead by example. David’s first rule is never to ask people to do what you are not willing to do yourself.
- Hire people who know more than you, then let them decide. Making the decisions for them cuts them off at the knees. If they get it wrong, you fix it together.
- Treat your team like clients. When employees feel valued and buy in, they treat clients well and contribute far more.
- Respond fast and own mistakes. Communication will break down sometimes. Fixing it quickly and saying it was your fault keeps trust intact.
- Meet in person on big decisions. For leases, sales, and management contracts worth millions, nothing has replaced a face-to-face meeting.
About the guest
DW
David Wallach
Owner and Broker, Barclay Street Real Estate
David joined Barclay Street Real Estate in Calgary in 2000, became a partner in 2001, and is now its sole owner. Before commercial real estate, he ran an insurance brokerage and served as GM and president of a professional basketball team. He also runs the Triumph Real Estate Investment Fund.
Episode summary
In this episode
David Wallach joined Barclay Street Real Estate in 2000 and grew it into a Calgary brokerage with a property management arm that started in 2006 with about 300,000 square feet and now manages about 5.25 million.
He explains how he moved from being a control freak to a leader who delegates, why he treats employees like clients, and how Barclay Street keeps communication moving between owners, tenants, and property managers. He also shares his view of Calgary’s commercial market and where office space goes from here.
David closes with advice for people entering property management: start as an assistant, learn the language and the roles, and accept that there are no shortcuts. He also recommends two books for anyone in the business.
Chapters
- 0:00Introduction
- 2:06David’s story
- 5:02Qualities behind his success
- 8:40Learning to delegate
- 12:02Growing property management
- 13:47Communicating with stakeholders
- 17:54Market cycles and outlook
- 25:36Technology and the personal touch
- 28:29Advice for new property managers
- 33:50What Barclay Street looks for in janitorial
- 36:40Book recommendations
Jump to a chapter (11)
- 0:00Introduction
- 2:06David’s story
- 5:02Qualities behind his success
- 8:40Learning to delegate
- 12:02Growing property management
- 13:47Communicating with stakeholders
- 17:54Market cycles and outlook
- 25:36Technology and the personal touch
- 28:29Advice for new property managers
- 33:50What Barclay Street looks for in janitorial
- 36:40Book recommendations
From the conversation
Transcript excerpts
Lead by example don’t ask people to do what you’re not willing to do…
David WallachPlay from 6:20
I always try to get people to buy in and when they buy in their ability to contribute is way higher because it’s theirs…
David WallachPlay from 10:07
My role is… to be the conductor but the orchestra is the one who are playing.
David WallachPlay from 11:47
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Read the conversation
Full episode transcript
Show transcript
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FAQ
Questions about this episode
What does Barclay Street look for in a janitorial company?
A stable company with a track record and the right insurance in place. David leaves the choice to his property managers, who run RFPs for larger buildings.
What advice does David give new property managers?
Start as an assistant so you learn the language, the forms, and the difference between the manager, operator, and accounting roles. Then work toward your licence. There are no shortcuts.
What books does David recommend?
Lords of Finance by Liaquat Ahamed, a history of four central banks from 1914 to 1944, and An Ugly Truth by Sheera Frenkel and Cecilia Kang.
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