‘Not Just Putting Pins on the Map’
Always expanding: GlobeSt.com is adding new city editions in 2015. Update your preferences to receive our latest weekly digests covering San Diego and Austin.
Part 2 of 2
FALLS CHURCH, VA—In part one of this two-part Q&A, GlobeSt.com chatted CORFAC members on its 2014 plans of pushing both domestically as well as internationally, and talked about the goal of adding markets where it does not have a presence. As CORFAC celebrates its 25th anniversary, Robert Tillsley, 2014 president of CORFAC International, previously told GlobeSt.com that it doesn’t just “want to just put pins on the map,” but would rather wait for the right firm rather than add member firms that are not like-minded.”
In part two of this Q&A, we asked about the strength of the alliance and the secret to CORFAC’s 25 years of success. Tillsley, a principal with Paramus, NJ-based McBride Corporate Real Estate/CORFAC International, a founding affiliate of CORFAC International, tells GlobeSt.com that it is due to the membership, which is “made up of like-minded individuals who are entrepreneurs rather than corporate relationship managers.”
He continues that “They run their own business and see value in having a larger platform…Our relationships run deep and amongst some members for more than 30 years, and it was those relationships that 25 years ago formed CORFAC International.”
When asked about attracting new firms, Tillsley points out that “We’re an organization that consists of entrepreneurs and as a network, we’re different in that the management entity of CORFAC—the association, does not charge a fee when member firms complete joint transactions. CORFAC’s revenue comes entirely from membership dues.”
He adds that “firms that have spent years building their brands are not so anxious to give their names up. With CORFAC, they keep their name and add CORFAC International after it. It’s a gain to have an international platform and not a loss of their identity.”
The challenge in recruiting new firms, he adds, “is mostly getting our message out and across; once independent firms understand us and how we operate—it is either a fit for their company, or not.”
CORFAC International is an alliance of entrepreneurial commercial real estate firms that partner to deliver experienced service locally, nationally, and internationally. In recent years, CORFAC affiliates completed an average of over 9,600 transactions annually totaling more than 513 million square feet worth an excess of $5.95 billion on behalf of their customers.
For an irreverent take on the macroeconomic environment, check out GlobeSt.com's Chief Economist authored by Dr. Sam Chandan.
You can now be notified via email if this story is updated by clicking on the "Follow this Story" link. You must be a registered member to take advantage of this "members only" benefit.