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 Small Commercial Real Estate

Firms Tout Personal Touch

Smaller commercial real estate firms operating in the shadow of larger ones contend they can provide clients with otherwise scarce individual attention, and while the larger brokerages can flex muscle with the number of brokers employed, areas covered and the training offered their sales forces, some major players seek the more personal touch that smaller "boutiques" offer.

Philip Earley, a principal of Lieberman Earley & Co. in Wayne, an eight-person commercial real estate firm, said “conducting business with small firms gives the client a better opportunity of dealing directly with the business owner or principal.”

Earley explained that when he went on a call with a potential client who was being represented by a large firm, the client was impressed. "I was the only owner or principal that he met with. Think about it. If you were the client, wouldn’t you rather do business with someone who owns the company, someone who can bring their expertise to you?

We’d rather be picked because we have the experience, not because we have a name that is traded on the New York Stock Exchange," Earley said.

Boutiques typically employ anywhere between two to 10 brokers and smaller firms often have longevity on their side, as well.

Lieberman Earley has the advantage of long-term expertise. John Lieberman, the fourth generation, and Philip Earley are the principals and Lieberman’s father, Jerre, comes in periodically to consult with them. The senior Lieberman, in turn, passes along expertise gleaned from his own father, Harry C. and grandfather, Solomon, who originated the business prior to 1900. 

Jerre Lieberman is known for his site assemblies in the 1960s and 1970s in Center City - including 1818 Market Street, where he would buy ground and buildings for developers who would have them torn down, then build skyscrapers in their place. That helps make sure that Lieberman Earley maintains name recognition among bankers, politicians and, most important, "influential corporate people," Earley said..

"The key to any small business," emphasized John Lieberman, "is to know the decision-makers." 

He elaborated that these business relationships are critical through the entire process – including "listing a client, representing a client, taking care of building needs, working with local municipal authorities and closing the deal."

A common misconception held even by some small commercial real estate firms is that clients with national interests use the large firms, while those looking for regional office space or buildings will seek out smaller firms.

Unlike the residential real estate market - which thrived in the lagging economy - both large and small commercial real estate firms have faced challenges.

Lieberman said the suburbs were overbuilt in terms of office space. In Conshohocken, for example, three recently developed office buildings have just had their first tenants move in. Lieberman said the developers of those properties were overly optimistic and thought market conditions would improve sooner.

By and large, those in commercial real estate report that conditions have changed in the past six months; there are now signs - an increased number of deals in the making - that the market is improving.

The Meadows, Suite 100

485 Devon Park Drive

Wayne, PA 19087

610.688.4300