Key takeaways
What property managers can take from Jonathan’s view of networks
- Listen before you decide. Jonathan sees listening as the most important skill in any career, and he takes time to absorb a situation before reacting.
- Surround yourself with people who push back. Good people who will tell you to rethink a decision are worth more than people who agree with everything.
- Use your network as a board of directors. CORFAC members can send a question to the whole network and often get 10 or 12 answers within a day.
- Independent doesn’t have to mean small. Belonging to a network lets local firms keep their own name while competing with national brokerages for larger clients.
- Focus on a few goals at a time. Jonathan encourages members to pick two or three priorities, such as doing more deals inside the network, rather than trying to do everything at once.
About the guest
JS
Jonathan Salk
CEO, CORFAC International
Jonathan leads CORFAC International, a global network of privately held commercial real estate firms with about 75 offices. He has spent about 35 years in commercial real estate associations, including 18 years at the CCIM Institute, where he left as CEO, and four years at the National Association of Realtors building a graduate program in real estate.
Episode summary
In this episode
Jared Sarbit talks with Jonathan Salk, CEO of CORFAC International, a global network of independent commercial real estate firms. Jonathan isn’t a broker himself. He has spent about 35 years leading real estate associations, including the CCIM Institute and the National Association of Realtors, before joining CORFAC nine years ago.
Jonathan explains how CORFAC works, why its members keep their own names, and why the network takes no share of the deals its members do together. He shares how the network supports members through conferences, monthly education, vendor discounts, and peer advice, and how about a third of its firms now offer property management.
He also talks about CORFAC’s growth in Europe, Asia, and Latin America, the rise in deals between members since the pandemic, the network’s focus on its next generation, and the basketball book he is reading.
Chapters
- 0:00Episode preview
- 1:04Introducing Jonathan Salk
- 1:45From public works to commercial real estate
- 3:35Traits behind his career
- 5:31What CORFAC International is
- 9:29Conferences, education, and member benefits
- 12:16Growing across 75 offices
- 15:44Expanding internationally
- 19:06Why more deals happen inside the network
- 21:13Where he would invest next
- 24:09What’s ahead for CORFAC
- 27:07Book recommendation: Season on the Brink
Jump to a chapter (12)
- 0:00Episode preview
- 1:04Introducing Jonathan Salk
- 1:45From public works to commercial real estate
- 3:35Traits behind his career
- 5:31What CORFAC International is
- 9:29Conferences, education, and member benefits
- 12:16Growing across 75 offices
- 15:44Expanding internationally
- 19:06Why more deals happen inside the network
- 21:13Where he would invest next
- 24:09What’s ahead for CORFAC
- 27:07Book recommendation: Season on the Brink
From the conversation
Transcript excerpts
I am a good listener and I… think that’s probably the most important thing in any career you’re in.
Jonathan SalkPlay from 4:17
We’re doing a better job as an organization saying look you join this network for a reason, use it.
Jonathan SalkPlay from 0:08
One of our past presidents said to me when I started here was he uses the CORFAC network as his board of directors.
Jonathan SalkPlay from 9:07
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Read the conversation
Full episode transcript
Show transcript
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FAQ
Questions about CORFAC International
What is CORFAC International?
CORFAC International is a global network of privately held, entrepreneurial commercial real estate firms with about 75 offices. Jonathan Salk says about two-thirds are in North America, with the rest mostly in Europe and a growing number in Asia and Latin America.
Why would a commercial real estate firm join CORFAC?
Members keep their own names and identities while gaining referrals, best practices, conferences, monthly education sessions, and vendor discounts. The network also helps independent firms compete for clients against much larger brokerages.
Do CORFAC members offer property management?
Yes. Jonathan says the share of member firms offering property management has grown a lot in recent years, to roughly 30 to 35%, alongside traditional office, industrial, and retail brokerage.
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