In today’s Real Estate Syndication Show highlight episode, we feature seasoned real estate veteran Bob Knakal, sharing his extensive industry knowledge and experience.
Bob began his real estate journey in 1984, witnessing technological changes from no computers to the current AI era. Despite tech advancements, property transactions haven’t increased; technology empowers a smaller group to achieve more.
Discussing market challenges, Bob notes the impact of rapid interest rate increases on property values. He advises sellers to hold off unless there’s a compelling reason, emphasizing data quality and analysis for informed decisions.
In part two, Bob guides us through growing his firm from two people to over 250 employees. Success stems from market understanding, a residential farming approach, and a focus on self-produced, accurate market insights.
Bob underscores servant leadership’s importance, empowering employees for a positive, supportive culture integral to the company’s mission.
Training was crucial for growth, with Bob detailing a rigorous process ensuring brokers were fully prepared. This involved creating maps, walking every street, taking pictures, and understanding property values.
Lastly, Bob shares his perspective on current buying opportunities, comparing them to past market downturns. He believes those with capital and courage will find this a lifetime’s best buying opportunity.
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About Bob Knakal:
Bob Knakal, the Senior Managing Director at JLL’s New York office leading the New York Private Capital Group, has a distinguished career in real estate. Prior to JLL, he chaired Massey Knakal Realty Services, New York’s top building sales firm. Starting in 1984 at CB Richard Ellis, he co-founded Massey Knakal with Paul J. Massey Jr. Their venture thrived, closing 6,000+ transactions worth over $23 billion from 1988 to 2014.
Bob’s personal contributions include selling 2,000+ buildings, totaling $18 billion—a record for a single NYC broker. Post the 2014 Cushman & Wakefield acquisition of Massey Knakal, Bob chaired New York Investment Sales, globally ranking as the top originating investment sales broker from 2014 to 2016.
Beyond his roles, Bob shares industry insights through his weekly column, “Concrete Thoughts,” in the Commercial Observer since 2009.
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