3 Ways Voit Real Estate Services Evolved Into A Broker-Led Market Leader
As company founder and former CEO Bob Voit decided to focus on his investment opportunities and step out of the day-to-day operations, Voit Real Estate Services’ professionals capitalized on the opportunity to take ownership of their future and continue the tradition of service excellence in the SoCal commercial real estate market.
“This is a natural progression in ownership to preserve the culture of our company,” Voit Anaheim EVP Mike Hefner told Bisnow. He says these changes were made to place a sole focus on core brokerage services and make the company a commercial powerhouse.
Voit managing director Ian Britton (pictured above left with Parker Properties CEO Russ Parker) says Voit's identity as a client-centric real estate services firm is still very much the same. The core business hasn’t changed, he says, but with the sales force owning the company and participating in its collective success, the firm seeks to create a better experience for professionals and staff while providing a unique, powerful platform for incoming professionals looking to build their business and create long-term wealth.
"At Voit we capitalize on every opportunity to improve our offering and to strengthen our client relationships," Ian says. "Any organizational change we make starts with our clients' interests in mind."
So what has changed and how does it benefit you? We took a look and asked Ian to give some insight.
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A Better Brand of Brokers
Under the new structure, Voit provides individual brokers with limited partner interests to give them a personal stake in the company. Mike says this differentiates Voit from the competition, and allows the firm's professionals to "flourish in a strategic, client-centric environment."
Ian suggests the change aligns everyone's interests. Brokers are the perfect lens into client needs, he says, so Voit's decision to arm brokers with better resources and dedicate needed capital to support marketing efforts ensures the Voit team can quickly and adequately respond to any client request.
One example of this unique allocation of resources is Voit's training program, where senior brokers, Voit's management team and outside consultants combine to help Voit's next generation learn the business the right way. With specific focus on understanding client needs, the training program covers everything from territory management, to financial literacy, macro/micro-economic trends and their effect on real estate decision-making, time management, presentation skills and an understanding of current construction/improvement costs.
Ian says this collaborative, trusting culture and atmosphere—where market leaders invest their time, energy and resources to help the next generation—is rarely seen in commercial brokerage.
Assistance from Allies
The renewed focus on SoCal brokerage doesn't mean Voit won't lend a helping hand in other service lines, such as real estate management services or brokerage services in other parts of the country or internationally. That's why the firm aligned with OC-based property management company RiverRock Real Estate Group, which now serves as Voit’s preferred provider and partner for real estate management services.
Ian describes the alliance as "dynamic, culturally congruent and one we're very excited about." As a market leader, the privately held RiverRock maintains a similar mix of both institutional and local, private clientele, making them a perfect match. This partnership, Ian believes, will allow Voit's team to focus on brokerage, but remain confident in providing clients with capable, experienced management.
"Being able to approach our clients with best-in-class service for both brokerage and real estate management is very powerful," he tells Bisnow.
To provide clients a global reach, Voit is continuing its partnership with CORFAC, an international network of privately held, entrepreneurial firms like Voit providing expertise across all product types. With approximately 50 partners in the US and more than 32 internationally, CORFAC firms completed more than 10,000 lease and sales transactions, totaling over 400M SF of space valued in excess of $7.4B in 2014 alone. With this partnership in place, Ian says, Voit clients are guaranteed dedicated, focused service throughout the country and across the globe.
In addition to new CEO Eric Hinkelman, the company has elected a new board of directors, including Irvine EVP Trent Walker, Anaheim EVP Mike Hefner, San Diego SVP Randy LaChance, founder Bob Voit, Anaheim SVP Seth Davenport, Anaheim EVP Mitch Zehner and Inland Empire EVP Frank Geraci. Ian says this new board not only represents every Voit office, but is comprised of brokers of various experience levels, ensuring all voices are heard.
"Our CEO, COO and managing directors help carry out the board’s collective vision, and this has proven to be a strong and effective partnership," Ian says. "We need to be able to react quickly to what the market is demanding while anticipating needs well into the future, and our leadership structure gives us the opportunity to do just that."