Insights from the Top Producer of 2023: the Multi-Family Team

Cushman & Wakefield | PICOR recently held their annual awards ceremony recognizing their top brokers and team members in 2023. Allan Mendelsberg earned the #1 Producer award, marking his fourth consecutive year at the top and his seventh year within PICOR’s winners’ circle. Mendelsberg attributes his ongoing success to his business partner, Joey Martinez, and their team.

What separates the C&W | PICOR multi-family division from the rest of Tucson is their team-oriented approach, which enabled them to have over 70% market share in their sector. Rather than operating as individual brokers, they function collaboratively. With support from Lexy Pacheco, their brokerage assistant, and interns from the University of Arizona handling the marketing and research aspects, they’re able to focus on maintaining relationships with clients and continuing to make connections in the market. Mendelsberg says, “we have a good balance, (he laughs), of ‘good cop vs bad cop’ which gives us the ability to provide the best outcomes for our clients.” 

Reflecting on the challenges of the past year, they note the headwinds they faced in 2023 were with interest rates and consumer confidence. Last year, sellers expected peak pricing and most of the incoming purchaser calls were groups looking for properties in distress. Navigating this landscape was challenging, especially without reliable sales comparables. However, due to their team dynamic, alternating between assertiveness and pragmatism, enabled them to adapt their perspectives and bridge the gap between seller expectations and buyer capabilities.

For Martinez, 2023 was his first year as a broker in a challenging economic climate, which Mendelsberg had seen previously, and together they were able to work as a team and navigate more complex transactions by anticipating market shifts and plan ahead. As Mendelsberg said, “it’s all about who you learn from.” Unfortunately, Tucson is a difficult city to train and learn in compared to larger markets, and there aren’t a lot of team-oriented brokers. If you can find a good mentor, that is a great way to accelerate success. 

Looking ahead to 2024, the team anticipates a continuation of the economic and market challenges faced in the previous year, with expectations of a more dynamic market in 2025. They remain committed to maintaining their proactive approach, engaging with clients, cultivating relationships, and executing aggressive marketing strategies to stay ahead of the curve.

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