Emerging Broker of the Month: Advisor Dan Hicks, Cresa
Cresa Advisor Dan Hicks began his role at Cresa with a background in real estate, financial services and data analytics. He provides office occupiers with successful, conflict-free solutions while addressing their short and long-term real estate needs. By utilizing a disciplined process, he analyzes space needs, manages the site selection process and weighs variables against defined business goals.
What kind of mentorship, do you foster at your firm?
By leveraging my experience in the financial markets, I’m focused on serving as an educational resource for the entire Cresa team. Macroeconomic events are shaped by cause-and-effect relationships, and my goal is to relate these macro events to what’s really happening in Denver real estate market in an attempt to forecast future trends.
What was a defining moment and/or turning point in your career in the commercial real estate (CRE) market?
The defining moment in my commercial real estate career was the day that I officially realized that I was not in fact a commercial real estate broker, but rather a corporate real estate consultant. This shift in my mindset fundamentally changed the reason why I do what I do, to serve as an extension of the executive management team filling the role of the corporate real estate director. There’s a big difference between focusing on individual transactions compared to focusing on how corporate real estate decisions potentially move organizations closer to or further away from their strategic objectives.
What has been one of the greatest challenges you have overcome in your career in the CRE market?
Anything worth accomplishing comes with its own unique set of challenges. Before starting on my journey from residential realtor to commercial real estate advisor, I was fortunate enough to have known several close friends who had made the transition before me. Through learning from their experiences, I was very aware of the amount of time and energy it would take to get up and running in addition to the financial sacrifices it would take to stay in the game.
What impact, have you seen in the surrounding community based on the support you provide to your clients?
It’s my opinion that there is a fundamental shift that is starting to occur in the commercial real estate industry from a transactional model to a more consultative model. At Cresa, before we ever talk real estate, we talk business. By blending management consulting with commercial real estate, I feel that we are able to provide a level of service that sets our clients up for success for the long-term.
Which transaction/project deal are you most proud of and why?
The transaction in which I’m most proud was the first transaction I ever completed solo, a deal for client, Loenbro, oil and gas at 9500 W 49th Ave in Wheat Ridge. There was no room for error and although there was some anxiety due to my lack of tenure, I went by the book and got a great deal for my client that everyone felt good about. Whenever I’m on that side of town, I try to make a point of driving by to admire the client’s signage. Great experience.
What advice would you give commercial real estate brokers just entering the industry?
This is a marathon, it’s not a race. This is a long-term career; it should never be just a job. You get out what you put in. Stay hungry. Practice Kaizen and focus on becoming incrementally better at your craft every day.