LOS ANGELES—One way that investors are keeping a competitive edge is by sweetening the pot for brokers. StarPoint Properties used the tactic for the second year in a row, awarding the broker with the largest volume of off-market deals a 2017 Porsche 911. Stewart Weston, who recently moved to CBRE from Marcus & Millichap, won the car, which is valued at more than $100,000.

“We like to reward the brokerage community because of the value they bring to our company,” Paul Daneshrad, CEO of StarPoint Properties, tells GlobeSt.com. “Our relationships and reputation within the brokerage community is extremely important to us and we want all the brokers to know if they choose us as a buyer that we will close on time with zero issues.”

While this is a new trend, it may be growing in popularity as investors look for ways to stand out and to gain a competitive edge. “We started the Porsche competition for the first time last year, but it's not a new trend in the industry,” says Daneshrad. “Many companies have incentive programs but we felt that our reward separated us from the pack.”

While different investors have their own tactic and strategy, Daneshrad says that using brokerage incentives is often the most popular for off-market transactions. “It's popular for all types of deals, but our focus tends to be on off market transactions,” he explains. “Even though sometimes we are paying a market price, there is value for us not to have to compete.”

Brokerage incentives are being driven by the incredible demand, and Daneshrad  says that he believes it is going to remain strong this year. “Demand remains extremely strong for high quality deals,” he adds. “We will have to wait and see if this new rising interest rate environment changes the market at all moving forward but we don't believe it will in the short term.”

LOS ANGELES—One way that investors are keeping a competitive edge is by sweetening the pot for brokers. StarPoint Properties used the tactic for the second year in a row, awarding the broker with the largest volume of off-market deals a 2017 Porsche 911. Stewart Weston, who recently moved to CBRE from Marcus & Millichap, won the car, which is valued at more than $100,000.

“We like to reward the brokerage community because of the value they bring to our company,” Paul Daneshrad, CEO of StarPoint Properties, tells GlobeSt.com. “Our relationships and reputation within the brokerage community is extremely important to us and we want all the brokers to know if they choose us as a buyer that we will close on time with zero issues.”

While this is a new trend, it may be growing in popularity as investors look for ways to stand out and to gain a competitive edge. “We started the Porsche competition for the first time last year, but it's not a new trend in the industry,” says Daneshrad. “Many companies have incentive programs but we felt that our reward separated us from the pack.”

While different investors have their own tactic and strategy, Daneshrad says that using brokerage incentives is often the most popular for off-market transactions. “It's popular for all types of deals, but our focus tends to be on off market transactions,” he explains. “Even though sometimes we are paying a market price, there is value for us not to have to compete.”

Brokerage incentives are being driven by the incredible demand, and Daneshrad  says that he believes it is going to remain strong this year. “Demand remains extremely strong for high quality deals,” he adds. “We will have to wait and see if this new rising interest rate environment changes the market at all moving forward but we don't believe it will in the short term.”