Remember the boom of 2021? Back then, you could list almost any property—no matter the location or condition—and offers would roll in like clockwork. No need for fancy strategies or in-depth market analysis. The deals practically closed themselves. Zero interest rates flooded the market with capital, and commercial real estate looked like a sure bet. If you owned something—anything—you looked like a genius.
A real estate investor I know in Los Angeles, Tim, used to joke, “The smartest thing I ever did was buy an industrial lot in 2018 and forget about it.” He wasn’t kidding. He didn’t renovate, rezone, or reposition. He just waited. By 2021, it had nearly doubled in value.
But times change—and boy, did they change fast.
When the Fed raised rates on March 16, 2022, I knew the party was over. That first hike was the wake-up call. More were on the way, and commercial transactions slowed to a near crawl. This marked the fourth major market shift I’ve experienced in my career. And while it wasn’t quite a collapse like 2008, it was a shock to the system nonetheless.
There’s a pattern I’ve observed over the years. When the market heads south, the first reaction is paralysis. Buyers and sellers alike freeze. Fear seeps into every conversation. Buyers get smart fast, adjusting to new prices and cap rates. Sellers? Not so much. They tend to hang on to yesterday’s numbers, hoping the market will turn back in their favor.
Now, here we are in Q2 of 2025, and the fog is finally starting to lift. But things look very different.
Take broker behavior, for instance. Download an offering memorandum, and the phone rings instantly. Follow-ups are faster, hungrier. That’s good news if you’re selling—you want your broker putting in the work.
Pricing is also beginning to reflect reality. It took nearly three years from the first rate hike for the market to hit price discovery. That’s a longer delay than in previous cycles, where the adjustment typically came within 18 to 24 months.
Meanwhile, transaction volume is still sluggish. Fewer deals, more competition. And while some brokers are still chasing listings by overpricing assets and offering big concessions, the real winners are doing things differently.
Strategy is everything now.
A friend of mine, Sarah, works in Brooklyn and recently helped sell a mid-sized multifamily building on a noisy street with a complicated rent roll. Rather than gloss over the issues, she leaned into them. She highlighted the property's proximity to the subway, its historically strong rent growth, and came prepared with a full dossier of lease data. Her preparation turned buyer hesitation into trust—and she closed the deal faster than expected, even in this tough market.
That’s the kind of mindset it takes today. Know your property better than anyone else. Anticipate the hard questions and be ready with real answers. When you position a property strategically, even its flaws can become selling points.
Another broker I know, Mark, is newer to the game, working in Chicago. He’s made a name for himself by being relentlessly informed. Before every call, he studies recent sales, upcoming developments, and even off-market whispers. He’s always ready with a stat, a comparison, a story. Clients notice—and they come back.
You won’t win every deal right away. But if you’re consistently helpful, informed, and visible, people will remember you. Even a short call or email with a quick insight—“Hey, just wanted to let you know about a new comp around the corner”—can make a difference.
But remember: expertise isn’t just about what you know. It’s about how well you communicate it.
Data is worthless if you can’t share it clearly. That means building habits, living in the numbers, and being ready to explain trends in real time. Clients won’t just trust that you’re an expert—you’ll show them you are.
And at the heart of it all, this is still a relationship business.
Linda, a long-time broker in San Francisco, once told me that most of her deals come from people she’s known for years. She doesn’t just reach out when she wants something. She sends articles, checks in regularly, and takes meetings just to talk shop. Those low-pressure touchpoints pay off over time.
Now, we also have new tools to help us do the work better and faster.
For years, I dreamed of a way to cut down the time we spend pulling comps, gathering rent rolls, or chasing stale data. So, my team and I built DealGround—a platform designed by brokers, for brokers. It pulls together property, tenant, and market data instantly. For newcomers, it builds confidence. For veterans, it’s an accelerator.
Of course, no tool can replace the human part of the job. Building trust, telling a story, making a connection—that’s still on you.
But with the heavy lifting handled, you’ll have more time and energy to focus on the relationships that matter most.
In today’s market, luck isn’t enough. It takes strategy, stamina, and showing up smarter than the next person. The tide isn’t lifting all boats anymore—but if you steer well, you’ll still make it to shore ahead of the pack.