Steve Everbach's Three Deal Tips
With 20% growth over last year, it's been a prosperous 2013 for Cushman & Wakefield DFW chief Steve Everbach. (Let's hope the Secret Santa gifts reflect it.) We asked him to share some of the principles that have shaped his success.
1) Corporate culture
The team just landed a deal to rep a company occupying a full floor largely because of the shared common operating corporate principles, Steve says. "Instead of an hour-long presentation, we had an hour and a half discussion about our culture. We won the assignment because of this approach, not just because of our market expertise," he says. For the past two years, Steve has led the team's acquisition of Cousins and seen the company grow from 120 to 260 employees. (If nothing else, he's responsible for a much more competitive office Fantasy Football league.) The colorful artwork in his office was created by his two daughters.
Steve learned this one the hard way when he owned his own development and investment firm from 2004 to 2010. When the recession hit, he had three projects in development (he had levered to 98% in one scenario). It's good to be confident, but beyond that is arrogance and it can take a quick turn with circumstances beyond your control. You have to be prepared to react to economic conditions. He credits his patient wife and two kids with helping him get through that experience.
Steve tells us it pays to give every opportunity your best efforts. For example: In '93, he leased a building for Mass Mutual and developed a relationship with the asset manager. About 18 years later, he received a call from that person asking him to help them on tenant rep side. And of course he keeps up his personal relationships, too. He coaches his youngest daughter's soccer team and tries to work in mountain biking regularly. (Guess which is more physically draining.) And, he tries to schedule a date night a week with his wife. (That's Steve, second from left in the back, with his team at the Ballpark at Arlington earlier this year.)