Brokers Need to Learn the Art of Adaptation

LOS ANGELES—Brent Howell, SVP at CBRE has just rounded his 50^th year as a commercial real estate broker. The impressive milestone is a testament to Howell's ability to adapt to the ever-changing industry. To find out exactly what has changed in 50 years and to pick up a few survival tips, we sat down with Howell for an exclusive interview. Here is what he told us:

GlobeSt.com: How is the industry different today than when you started? What are some of the standouts of how the industry has changed over the years?

Brent Howell: The industry never stops evolving and it's difficult to sum up all of the changes that I've seen throughout my career. That said, I was reflecting the other day on when I joined Coldwell Banker & Co. in 1964. At the time, regional malls were still just a concept, and I was enamored with the unique plans of multiple department stores, ice rinks, movie theaters, food courts and more; it was so innovative and exciting. When I consulted and leased many of the new Southern California regional shopping centers (such as Los Cerritos Mall, Westminster Mall, Northridge Fashion Center, Santa Anita Fashion Park, Woodland Hills Promenade and Del Amo Fashion Center, Fox Hills Mall) the designs were a completely new concept. Today, we have come full swing, with many specialty centers, including open air and mixed-use centers with a village or town square feel. Also, we have migrated away from the suburban regional center in the growth communities, back to the urban downtowns with vertical shopping developments. Many of the mature malls are in a rehab and expansion mode, with hotels, office, service tenancies and mixed-use components.

GlobeSt.com: What have you learned about navigating through the down cycles?

Howell: In the commercial brokerage business, there will always be trends to watch and business to be made. The ups and downs of the economic market actually generate new business, no matter the cycle. As I always say, one only needs to be able to adapt to the changes.

GlobeSt.com: You have spent nearly your entire career at CBRE. Why have you stayed with CBRE for so long, and why was it the best place for you to grow and spend your career?

Howell: A career with CBRE continues to be a fabulous ride and I would not alter my journey with the company even if I could. I've met countless intriguing characters along the way, both colleagues and clients. My company has grown dramatically, from 400 employees in 1964 to more than 44,000 today. In 50 years we've been a partnership, a private company, a publicly owned company by Sears, and then back to a publically traded company nationally. Now, we're a global company with an integrated platform of services that allows us to address every need a client may have, anywhere in the world. I'm proud to have been a part of it and I'm proud of my successes with the company over the years. Through it all, I had the good fortune of selecting a unique company in a very dynamic industry.

GlobeSt.com: What advice would you give to budding brokers to get them through the next 50 years?

Some of the best advice I could give is to follow the seven C's of character, which in a nutshell are:

CONSCIENCE: Establish a strong moral compass.

COMPASSION: Practice caring about other's feelings.

CONSIDERATION: Always be respectful to others.

CONFIDENCE: Visualize success and it will come.

COURAGE: Be courageous enough to do the right thing, especially when it's difficult.

CONTROL: Practice staying in control of your emotions.

COMPETENCE: Be willing to learn and take delight in problem solving.

GlobeSt.com: Where do you see the industry heading, and what are some of the ways you believe the industry will continue to evolve and change?

Howell: The retail shopping center industry remains ever changing, and that will never change. Those that can have the vision to foresee and adapt more quickly to economic and consumer changes, will be the most successful. The challenge is to make the difficult decisions in order to jump with the next trend. Those who are nimble enough will ride the next wave to success. You must keep current and fresh, and be attuned to those corrections. It is not an easy task. In the end, this career is one of service and building strong relationships. The most rewarding prize is finding a win-win between all parties. This feeling has kept me coming back for more over the years and I know it's what will continually draw others to the industry as well. Ultimately, I hope I've led by example for young brokers eager to make their mark on the industry. Just set your goals high and far and then go after them with passion.