S2:EP5 – Atlantic Territories
Marc Schein
Owner
Atlantic Territories, LLC. (www.atlanticterritories.com)
SEGMENT 1:
Starting Up
· Started in the Real Estate business, working for a local development firm.
-We dictated terms to our clients, felt they were being underserved
· Used downturn in the economy as an opportunity to start a business
- Sounds counterproductive, but as the business slowed, it presented opportunity to spend more time starting own business
· Took all the knowledge I learned as an employee to help tenants negotiate better leases
· Long Process – getting Brokers License, dealing with the state and education requirements. If you have experience in the business it is easier.
- Develop a business plan
- Who did I want to help
- 1-2 year process
· Resources – commercial real estate is dominated by big firms in the Pittsburgh Market, even though competitors, we have a working relationship.
- 8-10 years of experience was very helpful
· Not a lot I would do differently starting out – before my business when I purchased real estate myself, I made a ton of mistakes. Those experiences helped me not make mistakes when I started my business
· Know your industry. Be an expert before you start.
· Be true to yourself. The biggest thing is to be good at what you do. What I wasn’t the best at is marketing. Every business owner is a salesman and a marketer. If you can’t market yourself, you can’t sell your product or your business.
SEGMENT 2:
Advice & Surprises
· Advice to people starting their own business – Marketing. Have to decide how you are going to find your clients, especially in a small city like Pittsburgh where everyone know one another. You have to decide how to break “The Good Old Boys” network.
· How do you market – cold calling, networking, referrals. Participate in things that will allow you to show how good you are at your business. For example I am on the zoning commission. Teach a class, host a seminar…do something that will allow you to show your skills. Serves a two-fold purpose, help your community and help your business.
· A difficult thing to master is knowing when to turn a relationship from providing information to a sale from your business.
SEGMENT 3:
Marketing & Growth
· How do you compete with the big firms in your industry, what separate you: Big firms are very good at what they do however Atlantic Territories is a strictly tenant representative firms. The bigger firms generate most of their revenue from landlords, so their allegiance lies more with the landlord then the tenant. Atlantic Territories centers their services on tenants so there is no conflict of interest. Personalized service is key.
· Retain customer relationships given sales cycle is typically longer in this industry is important. A.T. maintains relationships with their clients throughout the entire time they hold the lease and will help in managing important dates and actions within the contract. If tenants have difficulties with landlords A.T. can be the intermediary between the tenant and landlord.
· Growth for is determined by how much you want to invest in your business and how many more people do you need. The most important thing is hiring the right people.
CONTACT OUR GUEST:
71 McMurray Road
Suite 201
Pittsburgh, PA
15241
(412) 595-8047
http://www.atlanticterritories.com
Atlantic Territories provides full service commercial real estate brokerage specializing in Tenant and Buyer Representation. We advocate for businesses and individuals interested in purchasing or leasing commercial real estate.
