What It Takes To Be A Successful Broker In NYC w/ Bob Knakal
Feb 23, 2025
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In this engaging discussion, Bob Knakal, Chairman and CEO of BK Real Estate Advisors and one of NYC's top brokers, shares his inspiring journey in real estate. He emphasizes the criticality of market knowledge and strategic prospecting for success. Knakal also explores the unique aspects of the New York market, offering practical advice for aspiring brokers. Additionally, he highlights the transformative role of social media in expanding reach and building a professional legacy in an increasingly competitive landscape.
Bob Knakal emphasizes the critical role of in-depth market knowledge and prospecting in achieving success as a broker in NYC.
The podcast discusses how Bob leveraged social media to expand his professional reach and brand visibility in the competitive real estate landscape.
Bob offers valuable advice for aspiring brokers, highlighting the necessity of specialization and understanding the unique dynamics of the New York market.
Deep dives
Life Balance Between Dallas and New York
The speaker reflects on their life spent between Dallas and New York, describing a strong personal and professional connection to Dallas despite having roots in New York. They express a preference for Dallas as a more appealing location for the future, citing a richer quality of life and less daily grind compared to New York's frenetic pace. They discuss the cultural and economic vibrancy of Dallas, which they believe will emerge as a central business hub in the coming decades. The comments underscore a broader sentiment that the changing cultural and political climates in major cities are influencing business opportunities and lifestyle choices.
The Rise of Yellow Street
The concept of 'Yellow Street' is introduced, positioning Dallas as a potential rival to established financial centers like Wall Street. This vision is reinforced by the Texas Stock Exchange's emergence, which offers a compelling value proposition for companies looking to list. Insights from Jim Lee, the CEO of the Texas Stock Exchange, highlight regulatory advantages and technological efficiencies that differentiate it from traditional exchanges. This suggests a growing sense of optimism surrounding Dallas's evolving financial landscape and its potential to attract significant business activity.
Real Estate Evolution and Business Culture
The speaker discusses their background in commercial real estate, emphasizing the importance of a collaborative culture at Crow Holdings, which contrasts with the often competitive environments of New York and California. They note the rich legacy of Crow, where alumni frequently go on to start successful companies, indicating a nurturing ecosystem that promotes growth and opportunity. They believe the company succeeds by focusing on facilitating employees' ambitions rather than strictly controlling operations, which creates a supportive work environment. This culture fosters loyalty and, ultimately, benefits the organization through business development.
Focus on Multifamily and Industrial Development
As a major player in multifamily and industrial markets, the speaker outlines Crow Holding's strategy to focus on urban infill projects, which have shown resilience in challenging economic times. They emphasize the importance of understanding local markets and trends, particularly regarding supply and demand dynamics, especially in fast-growing areas. Despite current supply gluts in some regions, the company is optimistic about future opportunities as new construction slows and a strong demand for modern spaces persists. Their approach balances development with investment management, targeting various sectors to adapt and thrive in the evolving real estate landscape.
The Shift Toward Energy and Technological Integration
The podcast discusses Crow Holdings' diversification into the energy sector, driven by a growing demand for sustainable energy solutions and a robust market for oil and gas. The development of solar projects aligns with the company's strategy to leverage its location in Texas, a hub for energy production. Additionally, the integration of technology and artificial intelligence into their operational framework is highlighted as an essential component of efficiency and data management. By embracing advancements in technology and energy, Crow aims to maintain its competitive edge while fostering environmental responsibility.
Season 2, Episode 4: In this episode of No Cap by CRE Daily, hosts Alex Gornik and Jack Stone sit down with Bob Knakal, Chairman and CEO of BK Real Estate Advisors. Bob, one of New York City’s top brokers, shares his journey and insights on how he became a leader in the real estate market.
They dive into the importance of market knowledge, why prospecting is key to success, and how Bob used social media to expand his reach. Plus, Bob shares what makes the New York market unique and offers advice for aspiring brokers looking to make their mark.
CHAPTERS:
0:00 - Introduction
3:00 - Bob’s Journey in Real Estate
7:30 - The Importance of Market Knowledge
12:00 - How to Stay on Top in a Competitive Market
15:45 - Building a Legacy in Investment Sales
20:30 - The Role of Social Media in Real Estate
25:00 - What Sets New York’s Real Estate Market Apart
30:00 - Current Trends and the Future of the Market
35:00 - Advice for Aspiring Brokers and Real Estate Professionals
40:00 - The Power of Specialization and Expertise
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estat4.
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