For Bobby Bull, it's all about the relationships. “The people within people within multifamily are what keep me here. I enjoy the way our industry has a unique way of bringing brokers and clients alike together,” says Bull, who became vice president and managing director for Transwestern Commercial Services' Southwest region multifamily investments in January 2005. “The nature of the industry allows for the forming of relationships to be easy.”
Bull will be relying on longtime ties and developing new ones at Transwestern, a national full-service real estate services firm, as he concentrates on expanding the company's multifamily offerings in the Southwest. A former multifamily broker with Trammell Crow, Bull has a bachelor's from New Mexico State University.
Q: What appealed to you about this job?
A: The challenge of growing and enhancing Transwestern's multifamily capabilities across the southwestern United States. Transwestern's strong culture, brand, and people were also appealing when I was making my decision to join their platform.
Q: After the economy, what do you see as a significant challenge for the multifamily industry in the coming year?
A: Planning and zoning of multifamily land. The land pricing is getting so high that rents are going to be stressed. [Rents] will have to be raised to keep up with the costs of construction and land.
Q: What are the big opportunities for multifamily firms?
A: Bringing value to the tenants and creating communities that people enjoy.
Q: What was your first job in the multifamily industry?
A: Marcus & Millichap—[I was an] apartment broker. I called on owners and developers, handled proposals, research, networking functions—met as many people as I could. I loved the job.
Q: What's the best advice anyone ever gave you about your career?
A: Have a plan. Immerse yourself in whatever you do, beacuse it will pay off in the end. Always have a positive attitude and go slow, but with a laser-like focus. This is a marathon, not a sprint. Finally, do your homework. In our industry you have to know who you are dealing with, because it's the only way to provide top-quality service. It's all about relationships and the power they can provide, so know the brokers, know the deals, and know the market.