After a hiatus, we are resuming the Quantum Lister series, in which we feature one of our Premium Members. The spotlight is on Michael Hoffman of Asheville, North Carolina’s Tessier Associates.
QL: How long have you been in commercial real estate?
MH: I’ve been in the industry for 34 years.
QL: What are some of the biggest changes you’ve seen in the industry during that time?
MH: Technology has to be the single biggest change I’ve seen in the industry during my career.
QL: How many listings do you have?
MH: I currently have 17 listings.
QL: How do you get new business?
MH: I'm old school, I cold call every day. I have a block of time in the morning that I use to make my calls. I also check expired listings and reach out to the owner to see why the property hasn't sold or leased. It's a way to begin a conversation and hopefully a relationship. I also love to pay referral fees. I see referrals as a business opportunity I may not have otherwise gotten. Most of my referrals come from residential brokers that can't or don't want to take on the commercial assignment.
QL: What tech tools do you use to manage all the listings?
MH: QuantumListing of course. I also subscribe to the local MLS (not necessarily hi-tech) which allows me to keep track of my listings and gets them out to not only commercial brokers but residential brokers as well. I subscribe to several other commercial listing sites that allow me to get maximum exposure and track my listings.
QL: What other technology do you use to manage your business?
MH: A good CRM software is critical for keeping track of contacts and follow-ups. I also use it to send out monthly updates to my clients.
QL: How does QuantumListing fit in your technological tool kit?
H: QuantumListing is right up at the top. Being able to tap into all of the resources available through the website makes brokerage life very easy and manageable.
QL: What are your favorite QuantumListing features?
MH: Price is a big plus for me. I like the fact that we can post unlimited listings and my listings are searchable by anyone on the Internet. Sharing listings on social media saves me from having to do it. There are so many features, it's difficult to pick a favorite.
QL: How do you see technology changing CRE?
MH: As commercial transactions become more complex, the need for reliable data will become more critical. Transactions also tend to cross state lines and boarders so having the right tools to transact business nationally or internationally will become important.
QL: What other emerging trends do you see in CRE? In your market? In your region? Nationally?
MH: In my market area we typically see trends after major markets see them. Eventually the trends in the big markets will make their way to us. We're seeing more clients are considering buying versus leasing with interest rates so low and money readily available. This isn't specific to our market, but clients are looking at buying versus renting.
QL: What’s the best way for our readers to get in touch with you?
MH: They can call me at 828-551-0447 or email me at [email protected]
Have a look at Michael's profile page and listings: