What's Happening With CBRE, Newmark, Etc?

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CBRE, Newmark JLL and Cushman Wakefield have all posted declines in their share prices. As of November 23rd, the declines range from as little as 30% for CBRE to 55%. The fourth quarter earnings call is going to be very interesting because they're kind of bracing for it to be even worse than they expect," says Deconstruct's John Defterios.

After low interest rates propelled investment sales to a record-breaking year in 2021, commercial brokerages including CBRE, Newmark and JLL, are now feeling the brunt of the impact. They're pushing to cut costs, some have laid off employees, but all agree the macroeconomic environment has made it hard to do business. Deconstruct chats with TRD reporter Patrick Ralph about the reasons behind the brokerages’ pain and whether the firms will see relief in the future.