Jake Hulsh | Bob Knakal RE Advisors

Contract’s out for my first listing. A lot can happen between now and closing—so no champagne yet. I’ve heard horror stories about this stage, so I’m just hoping for the best. #InvestmentSales #NYC #RealEstate #CRE #Closing

If you’ve ever thought: “There’s no way this will work” — hit send anyway. 3 weeks ago, I cold-emailed a co-op board that owns a 150,000 BSF development site. Today, the head of the board called: “Your email was perfect timing. We’re evaluating brokers.” BKREA is in the mix because I took the shot. 📩🚀

Learn through osmosis. Don’t expect much face time or 1:1s with the CEO. Start closing deals. When you produce, they’ll notice. That’s how you earn attention.

I called a prospect about a month ago and introduced myself as “Jake from Bob Knakal’s office.” He responded, “Do you mean Jake from StateFarm?” I ran with it. Every time I called after that, I’d say, “Hey Jim, it’s Jake from StateFarm.” It always broke the ice. Now he’s coming into the office on Tuesday to evaluate his development site. A little humor goes a long way. Never take yourself too seriously.

I got a voicemail from an unknown number on May 7th. I thought it was spam and didn’t bother checking it until this Wednesday. When I finally did, I realized it was a group I’ve been prospecting—interested in receiving a BOV for three development sites they own, totaling $92 million. I called them back, and after a thirty-minute conversation, they’re now scheduled to meet at my office next week to review the BOV. Moral of the story: Always check your voicemails—even the ones from unknown numbers. #InvestmentSales #Brokerage #RealEstate #CRE

@realEstateTrent Aren’t most jobs just sales with a fancier title? I saw a subway ad of an injury attorney in a Superman costume on my way home from work.

Business development is just sales with a fancier title

I was explaining my job to a group at a bar when a broker pulled me aside: “Why’d you describe it like it’s a simple job?” Simple doesn’t mean easy. My job is simple: — Make the calls — Build relationships — Earn credibility through market knowledge Simple, not easy.

Never burn bridges... When I applied for my current role at Bob Knakal’s new firm, our COO contacted the co-founder of the first startup I worked at. I didn’t leave on great terms with one founder—but I stayed close with the other. His recommendation likely helped me land this incredible opportunity.

Every SDR & Account Executive should spend 4–5 months as an Account Manager. Knowing what happens after the deal closes helps you sell smarter and serve better. #sales #AccountExecutive #techsales

One of my biggest pet peeves: You tell someone you’re a broker and the first thing they say is, “Oh, eat what you kill.”

@realEstateTrent Bob always says: if a property owner talks to you for 20 minutes the first time you call, they’re doing the same with every other broker. The best prospect? The one who hangs up on you.

“Landlord storytellers” If you’ve spent any time cold-calling in the commercial real estate world, you know exactly what I’m referring to. They’re real estate legends with huge portfolios, often in their 70’s and 80’s, and always answer their phones. They’ll enthusiastically tell stories about their journeys to anyone who’ll listen - and the stories are fascinating. How they started from nothing. What lead to their first deal. How they assembled those nine parcels on Main St over 45 years and the story behind each one, how they never borrowed a dime in their life, what their kids are doing now, how many grandkids they have, etc. When I first started in the business, those were my favorite calls. But like many other young folks in the business, I was convinced I was hitting it off with a major landlord, and that it would lead to lots of business. Little did I know they would have the exact same conversion with eight other young brokers that week. They genuinely love every minute of it, and the stories offer lots of great lessons - but they have zero intent to sell or do any business. When you do press them, at the end of 24 phone calls - they all say the same thing: “Sell? That’s up to my kids. You can call them after I die.” Legends!

@realEstateTrent When speaking with a long-time owner, the question shouldn’t be ‘Are you looking to sell?’ — it should be ‘Are you aware of what your property is worth today given [insert recent regulatory changes]?’ The right question opens the door to real conversation.

Big pitch this week for a 120,000 BSF Development site which will likely trade at $450/BSF! #InvestmentSales #RealEstate

If you don’t provide feedback on deals that I send you then I’m not gonna give you a first look. Groups that provide extensive feedback get access to my deals at least a week in advance.

@RErookieGuy I make sure I’m prospecting from 9 to 12 and from 12 to 2, I am focused on my existing deals and from 2 to 5 I am following up with every group I’ve engaged with, but don’t you have an exclusive with.

Common broker problem: The struggle of balancing existing deals vs. prospecting for new deals What are your best tips here? Any daily/weekly structure that you find works for you?

In terms of prospecting, I plan my week on Sunday. That way I’m not scrambling to figure out who to call on Monday or Tuesday. I send out an email sequence with two touch points on Monday and Wednesday. I look at who open my emails most frequently or forwarded them along using an email tracker. Call everyone who opened my email more than five times.

If I had the money, I would buy up all of the Inclusionary Housing Certificates on the market. #CityofYes made these air rights incredible valuable by introducing the Universal Affordability Preference. #UAP #RealEstateDevelopment #NYC #AirRights

Check out this article which breaks this all down: open.substack.com/pub/jakehulsh/… #RealEstate #RealEstateDevelopment #InvestmentSales #SliverGuy #UpperEastSide #NYC #NewYorkCity #Crime #Transportation #education

🚎Transportation: The Second Avenue Subway and the M15 SBS transformed transit accessibility in the neighborhood, making it far more convenient for residents and attracting a wave of new development.

🛍️Retail: The UES saw the greatest decrease in retail vacancy among all neighborhoods south of 96th Street from Q3 2023 to Q3 2024, with a drop of 4.3%.

🚑Safety: The UES has seen a dramatic decrease in crime over the past few decades. Between 1990 and 2022, crime across all categories dropped by 82.2%.

The Upper East Side is nearly unrecognizable these days. Why is there so much demand for condo inventory up there? Here's why: 👇👇👇