Bruce Heller, a 21-year industry veteran and multifamily specialist, ran his own firm in the Lakeview neighborhood for 11 years before numbers on a spreadsheet told him he could earn just as much working for a brokerage without dealing with management headaches and annoyances such as empty copy machines.

"The business was changing," Heller says of his move to Coldwell Banker Commercial more than a year ago. "It was getting harder and harder for the boutiques to compete with name brands and players."

Not that Heller has any regrets. He held on to his clients, and reports 2001 was his best year ever thanks to his new company's network and referrals.

Boorstein left Sheldon Good & Co. nine years ago with a friend, something he recommends to would-be shingle-hangers. "You're fighting every day, trying to attract clients, trying to build up a successful business," Boorstein says. Running a business, he adds, requires passion, and friends sharing that feeling helps.

MJ Partners now has a staff of nine full-timers with deals stretching from Indianapolis to Denver. The company also has an affiliation with a New York firm that has expanded its base.

Sperry Van Ness is trying to establish itself in the Chicago market after achieving a successful track record on the West Coast. Ray Zabielski, a past president of Chicago's NAIOP chapter, left Scribcor in August to join the company, which stresses a philosophy of open broker cooperation. "Eventually, Sperry Van Ness' name will be very established," says Zabielski, a 25-year industry veteran with executive positions with Beacon Properties Corp. and Manulife Financial. "Sellers like the style because it's an interesting twist. None of us know the unlikely buyer."

Despite his move back under a corporate umbrella, Heller didn't entirely discourage brokers from striking out on their own. He did have a friendly warning, though. "Just getting started is a couple months of brain damage."

Instant Insights /

Hanging Out Shingle Becoming Less Enticing

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