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How to Niche Down in Commercial Real Estate w/ Bob Knakal · Real Estate Investing with RealDealCrew

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Bob Knackle has closed more than twenty four hundred deals and nearly twenty five
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billion dollars in New York real estate.
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and he'll tell you the move that built his business was saying no.
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In this episode you'll learn how a hand drawn map won him a hundred and four
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of his last one hundred and six listing pitches.
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You'll learn why specializing literally creates time
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And why AI is about to break up the big brokerages.
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If this helps you, subscribe and check out realdeal crew dot com.
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Let's get started.
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We have Bob Nackel with me here today,
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and you can learn what he can help you with.
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Head over to BKREA.com.
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I'm going to have that as a clickable link in the show notes.
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Bob is daring enough to even offer you his email address and phone number,
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so maybe we'll save that mid-show so that they have an incentive to stick around.
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Really appreciate your time here today,
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Bob.
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Sure thing, Jack. Always great to be with you.
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So yeah, it's been a minute since the last time you've been on this.
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was it's going to be great to catch up.
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And since then, you've started a newer venture at BKREA.
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Talk a little bit about that transition and some of the highlights along the way.
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Sure, well, you know, the new firm BKREA was started in April of 2024.
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So about two and a half years in at this point.
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it was, you know, I had 26 years of owning and running my own firm with Paul Massey,
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Massey Nackle Realty Services,
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which we sold to Kushner Wakefield in 2014.
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And I spent the next 10 years,
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two, three and a half.
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at Cushman and 6 1 1 at JLL. Got fired at both of those places.
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And after getting fired at JLL in February of 2024,
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started a new firm in April 2024.
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And basically, you know, I've been a broker in New York.
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I'm in year 43 now. And
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For 40 of those years had a very very narrow value proposition even
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in the Massey-Nakal days. Only sell properties,
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only represent sellers, only work on exclusives,
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only sell stuff in New York.
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The first leg of those four, however,
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I was a generalist. I sold all types of buildings.
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In the new iteration of my professional life,
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we've now narrowed down the focus in that first leg quite significantly.
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We only sell vacant buildings or easily vacated buildings in New York City.
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And what do you do with a vacant building in New York City?
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One of only three things. You either knock it down and build something new,
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renovate the heck out of it and convert the use to something new.
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or sell it to a user group. And that's what we do.
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you know, last year, our first full calendar year,
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we sold 43 properties for about 1.8 billion.
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It's gone over a billion already this year and have close to $4 billion
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of exclusive listings that we're selling.
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And have about 20 people working at the firm now and don't want to
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get much bigger than we are right now.
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But back to having a lot of fun and enjoying the business more than I ever have.
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So it's been very exciting and great to be back on the entrepreneurial side
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of things.
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You've seen some pretty explosive growth in the past two and a half years.
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Have you ever looked back at your time with some of these other companies
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and wondered why you didn't do it sooner?
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Yeah, well, think, you know, had Massey-Nackle was a 26-year run,
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actually 26 years and 46 days.
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That was a great run.
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We had a number of things we were very proud of.
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From 2001 when CoStar entered the market until 2014,
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according to them, the number two company in New York had sold about 1,300
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properties. We sold over 4,000.
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So we were a little popcorn stand of a company competing against regional,
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national, and global companies.
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And we more than three X'd their sales volume for 14 years in a row.
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I think that goes without saying.
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that's
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probably the most dominant performance any brokerage company
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has demonstrated anywhere in the United States for such an extended period of time.
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I'm very proud of that. And we sold the company in 2014 to Cushman for $100 million.
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I was very proud of that.
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and then three and a half years at Cushman and six and a half years at JLL.
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After the Cushman days, I wasn't ready to start my own company again.
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The pain from having to fire 25 % of our folks during the great financial crisis,
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08, 09, was still a little too fresh.
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But after JLL fired me, I said,
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you know what? Not much another platform can do for me at this point.
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Let's go back to the entrepreneur.
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roots and start again. And you know,
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I think we understand how to make this business work.
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You know, the legacy I'm most proud of is that today there are
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36 companies or divisions of companies that are owned by or run by people that
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we taught the business to. And that's something I'm most proud of.
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And enjoying working with a bunch of younger folks today that are doing a great job.
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And I know that
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owning or running businesses are in their future at some point.
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So it's very rewarding to see their growth and help them along their
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way to build better businesses and build better lives for themselves.
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Well, it sounds like you just got enough of a taste of the of corporate world with
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JLL and and and whatnot to realize that maybe maybe you kind of missed this
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a little bit. You got to admit once you get that entrepreneur taste,
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you kind of want to go back to it,
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right?
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Yeah, well, you know, I always say that there are pros and cons
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to every environment in every situation.
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Whether you're at a small firm,
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a mid-sized firm, a big global firm,
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there are pros and cons. Whether it's working for yourself or working
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for somebody else, there are pros and cons.
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So the key really is, think, to take advantage of the pros that exist
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in your environment and try to keep your head down from the cons and make
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the best of it. But for me, I think entrepreneurial endeavors are the thing that
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get me the most excited and I'm most passionate about.
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So very, very happy to be back on the entrepreneurial side of the ledger.
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Did you, you could correct me if I'm wrong,
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but a little research and it looked like you hired Seth Samowitz?
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Yep, Seth is my COO.
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And as your CEO.
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First person I hired because I realized that AI is changing the world
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and likely to have even more of an impact in the future than it has already.
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Seth has started AI companies.
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He worked in driverless cars for six years.
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And I said, if this guy could make a car drive itself,
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he can help me sell a building.
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So he was the first hire and we use AI very,
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very extensively in our practice today.
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Yeah, I was gonna ask you about that.
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Because with his AI background,
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you definitely kind of threw your hat in the ring regarding like showing
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a signal as to what you must think the direction of this landscape is going.
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Well, I think, you know, AI is extraordinarily powerful and you just look
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at what's happened over the last 42 years or so.
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When I started in 1984, I had no computer on my desk,
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no cell phone, no fax machine.
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We used to carry rolls of quarters around in our pocket to make calls from
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a payphone. And some of your listeners may not even know what a payphone is.
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you know, and to see how things have changed so far.
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It's remarkable, but I think that things are going to change even
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to a greater extent over the next few years that AI really kicks in.
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you know, we use AI in two main ways.
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One, to make funneling processes more easily and more efficient.
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And that basically is prospecting and deal execution.
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We also use it very extensively for data interpretation.
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Our data sets are great. Our data sets go all the way back to 1984.
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and they've used the same methodology consistently over those 42 years.
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So it's a great way to extract tremendously valuable
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data out of our data sets.
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Tell me a little bit about map room.
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I understand that you had your team walk the streets of New York
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for like 220 hours for the first original version of that.
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Yeah, well, it wasn't my team,
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it was me and my team. I had a different teammate with me each time I went out,
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because I think the exercise is so valuable,
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not the physical exercise, but the mental exercise,
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and going to kick the bricks and see the buildings.
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so, yeah, it was a...
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March 2020, senior management at Old Co tells us,
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you know, go home for two weeks,
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let this thing blow over and then come back.
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And I went home and I was watching TV with my wife that night and
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my doctor called me and said, hey,
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Bob, I just want to let you know they're talking about shutting down Manhattan
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Island, quarantining it, shutting the bridges and tunnels.
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Get out of town right away. So within an hour,
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I had my wife and my daughter in the car going up to our country house.
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in Connecticut and two weeks later it was very clear we were not going
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to be coming back. So we had left the apartment in such haste I had to come back
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to New York to get some things.
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pull off the FDR drive and I pull into a science fiction movie.
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There's nothing, there's no one,
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there's no cars moving, no people,
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no stray dogs, no nobody. All the stores were closed and for whatever reason
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it occurred to me this would be a great time to go count buildings
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and I always wanted to count buildings under construction so I could
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get a good handle on the supply pipeline of new construction.
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It was the perfect time to do it so I spent 220 hours
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over the next four months, walking the streets,
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highlighting the tax lot map with different colors for properties that
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had been demolished, that were under construction,
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were built to less than 25 % of their max buildable density,
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potential assemblage sites. And the purpose of doing it was not to create a map.
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It really was so that I didn't have to try to interpret my handwriting.
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It was easier just to highlight parcels.
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And before you know it, I started taping pieces of the map together.
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I had these pieces out in the field with me and taping together to
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see what was happening in a neighborhood.
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Before you know it, I had this map that was 24 feet long and 10 feet wide
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and showed everything that was happening on the development construction front
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in Manhattan and created the map room.
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And it has been an
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overwhelming success in terms of.
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pitching business and giving insight to clients.
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know, historically over the course of my career,
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I've won about 26 % of my exclusive listing pitches.
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Well, to date we've given 106 pitches in the map room.
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We've gotten 104 exclusives. So it's been fantastic.
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My only regret is that I wish I had done it 30 years ago,
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but it's been a fantastic thing.
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And you know, people flying in from all over
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country and all over the world to stop in and check it out and it's been it's been
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a great thing for us.
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How have you been able to maintain or keep updating that because I'm sure that
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the changes on the New York landscape is is pretty fast paced.
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Yeah, well, since we did the field work in 2020,
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we've tracked every demolition permit,
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foundation permit and building permit the city has issued.
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And every time we hear about a transaction or see a demo permit or
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a filing being made, the map is changed.
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The map is changed probably three or four times a week.
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And so we're always keeping it current.
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Wow, just a testament that you you know,
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you saw this this possible piece of information and willing
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to make that time investment for something like that that's going
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to pay dividends in the end. I mean,
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that the foresight there is is pretty remarkable.
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Yeah, well Jack, I've always said that I'm not really in the real estate business.
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I'm in the information and relationship business.
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And to have proprietary information,
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to have something nobody else has,
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is a tremendous competitive advantage.
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And it's an easy way to differentiate yourself.
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So that's what we did. And fortunately,
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it's working beautifully. And we hope to keep it going.
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I also understand that you've kind of assembled an in-house zoning
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and policy SWAT team. Is that true?
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The zoning attorney, architect,
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data scientist, policy experts,
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how does that team change what you can offer a seller compared
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to a traditional broker?
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Well again, it is differentiating ourselves so given all of
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the legislative changes that affect the construction and development market here
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in New York with new tax abatement programs,
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new affordable housing programs,
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new ways to transfer air rights.
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These things are very very complicated.
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So we thought
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that would be in our clients best interest if we formed our own in-house policy
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and zoning SWAT team and that's what we did and we have all those professionals
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as part of it and so we can take a look at a property,
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dice and slice it within 24 hours and understand how to maximize its value
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and that has also added to the competitive advantage that we have.
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Before we hit record, you and I were even chatting about your partnership
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or your co author, Rod Santa Massimo was on the
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the on my show not too long ago.
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And you and him put together a book called selling buildings as a tactical playbook.
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Could you give us like one piece of advice in there that most CRE brokers get wrong?
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sure. Well, several. I will tell you that a regret that I have is that earlier
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in my career, I didn't ask more experienced people more questions.
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I did so many things by trial and error and consequently made hundreds,
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if not thousands of mistakes. Fortunately,
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I make a lot of those twice. But I mean,
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you got to ask senior people for advice and counsel and so many lessons.
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Basically, the book is a summary of
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my at that point my 41 year journey in this business.
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And I'm proud to say I recently signed a new book deal with Simon
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& Schuster to write a new book with a working title,
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How to Sell. So I'm very excited.
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I'm working on that project now and that book should come out sometime
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in the fall of 2027.
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Well, Bob, how do you sell?
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Well, I mean, number of ways. to
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You
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buy the book and read the book to find out,
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but it's...
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You know, it's actually, interestingly,
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I believe the brokerage business is a very simple business.
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It's just really, really hard,
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mostly hard because it requires the discipline to do relatively ordinary things over
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and over and over again until they work.
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But that's like that in anything.
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I mean, think about the great athletes.
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And, you know, I've always been enamored with greatness and...
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always wanted to try to figure out how the best athletes did what they did.
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But it's actually very, very simple and basic stuff.
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mean, you know, Larry Bird staying after practice for two hours to shoot
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500 foul shots. There's nothing magical about shooting a foul shot,
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but there's something magical about doing it every day after practice
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and shooting 500 of them. You know,
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why did Michael Jordan show up two hours before practice and his teammates came
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to practice and he'd be drenched in sweater ready?
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Nothing magic about showing up two hours early,
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but doing it every single day made a difference.
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Tiger Woods hitting thousands and thousands of golf balls.
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know, the very simple, ordinary things done extraordinarily consistently
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is really what makes the difference.
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And so we talk a lot about these kind of things and gonna talk a
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lot about these things in the new book,
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but it's a function of
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compassion, expertise, discipline.
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in becoming what you become along the way and the importance of using discipline
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to to keep pounding the rock when you feel like you might want to give up.
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And I think that that is one of the things that leads to failure of most brokers.
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Not that they're necessarily doing the wrong things or
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not because they're implementing the wrong strategies or tactics,
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but they give up too soon. You know,
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the the stone cutters
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creed is that you know the stonecutter pounds the rock with the mallet
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99 times and nothing happens and you don't see any change in the rock
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but the hundredth blow splits the rock in half and to the casual observer they look
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at that and say well that hundredth blow on the rock must have been different
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somehow the stonecutter used a different mallet or struck the stone
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at a different angle or hit it harder and the stonecutter knows no not
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at all the hundredth blow is no different than the
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that came before it, it's the 99 that came before it that allowed the 100th
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one to work. And unfortunately,
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some people quit after 30 or 50 or 75 or 99.
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And you have to keep going until that last one will work.
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And I think the interesting thing is that while we all celebrate the 100th blow,
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we celebrate the rock breaking in half.
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We celebrate the closing of the deal.
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the best-selling book, we celebrate the standing ovation,
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but it's really not about the hundredth blow.
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Your life is really made in the pursuit.
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of the hundredth blow and how you behave during the 99.
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And the 99 is where you become the person who's capable
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of breaking stones one after the next after the next.
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you know, I discovered that, you know,
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God was not nearly as concerned about the rock as I was.
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He was more concerned with creating the stonecutter.
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And so
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It's that process of the 99 that make you become a person who's capable
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of succeeding. And I think it's really important to keep that in mind when you're
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going through the process of trying to become an elite salesperson.
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Well, just to remind everybody,
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if you like what Bob is chatting about,
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do us a favor, head over to his website,
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it is BKREA.com. Bob,
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did you want to give out your phone or email address here as well?
18:45
Sure, sure.
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Or you can go follow me on social media.
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I'm on all the major platforms.
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Or you can email me at bk at bkrea.com or call me at 917-509-9501.
18:55
I'd love to hear from you.
18:58
And if you found some value in what we're chatting about so far,
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us a favor, share this with one of your friends.
19:03
And if you're watching us on YouTube,
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give us a like and subscribe. So,
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Bob, when you're talking about the stone cutter,
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have give us a little wisdom here regarding how do we know if
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we are even hitting the right stone?
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Well, that's the key.
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And that's what you have to keep in mind,
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Jack, is that the stone cutters creed and continuing to have the discipline
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to keep whacking the stone works provided you're doing the right things
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and doing the right things the right way.
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So success in our business comes from doing the right things the right
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way for a long time. But that's a big if is to,
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know, if you're doing the right things,
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if you were hitting the stone with a roll of
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paper towels, you could hit it a million times and it's not going to do anything.
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So, you know, it's important to have your fundamentals down and make sure you're
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doing the right things to succeed.
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So you know, you mentioned being let go of your these previous positions.
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You've you've been hitting this stone now for you,
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you said 40 plus years. When you heard that news,
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did you just like instantly jump into the new venture,
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you just said, Okay, this is what I'm going to do now.
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Or did you take a minute to kind of find your bearing and decide what to do next?
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No, I had a pretty good idea. First of all,
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I had a pretty good idea it was going to be fired.
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So as soon as I walked into the meeting and I saw the head of HR walk
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in right behind me, I was like,
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yeah, I'm getting fired. So that was actually a good thing
20:37
Hahaha ~
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because it got me out of a contract that I probably still would have been stuck in.
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So because they didn't, they fired me without cause.
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I was scot-free with getting out of my contract,
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which was great. you know, I was,
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went over to the map room. I had the map room as an offsite office,
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even when I was at JLL. And I was fired at 10.05 and at 10.15 I was in
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the map room making calls. So things kind of continued.
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And it did take me a couple of months to definitively decide what to do.
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I talked to a bunch of people.
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And I always think that's a great learning experience.
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talking to folks, finding out what they do,
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how they do it, why they do it that way.
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And so I learned a lot, at the end of the day,
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I thought that there's really not a heck of a lot that any particular platform could
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do for me and decided to get back onto the entrepreneurial side of things.
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You mentioned the importance of learning from those that have been there,
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done that, or have the experience.
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Is that what drove you around the NACL dealmaker network?
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Yeah, pretty much. you know, I started becoming very active on social media back
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in January of 23. And, you know,
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I'd get a DM a week or an email a week from somebody saying,
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hey, you know, I've been in the business a couple of years and love
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to pick your brain. And, you know,
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I set up a lot of those those meetings,
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Zooms or having coffee with somebody.
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And, you know, today I have close to 20000 followers on all my my social media.
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platforms and I get about a dozen of those requests a week.
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So I can't possibly meet with everybody or zoom with everybody.
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So I have people join the NACL Dealmakers Network.
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It's an online mentoring program.
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We talk about different ways to think,
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different best practices for the brokerage business,
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deal stories to help you win exclusives.
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And then there's an Ask Me Anything session,
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which we do twice a month to have people ask.
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me literally anything. How do I grow my business?
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How do I grow my team? How do I handle this comp related issue?
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And, you know, happy to share my perspective on things.
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And I don't claim to have a monopoly on the best way to do things.
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I just share with people what works for me.
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Certainly a lot of people do things very differently and there are a lot of
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different strategies and tactics that work,
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but I just share what has worked for me over the years.
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And last week I closed my deal 2,422.
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It's closing in on $25 billion worth of transaction volume and
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100 million square feet of deals.
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So, you know, fairly extensive track record and just hope to both educate
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and inspire another generation
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of real estate professionals by sharing my experiences with them.
23:27
You've also said that most brokers have two assets,
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knowledge and time. And now with your leveraging AI in a number of ways,
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what specific uses are you finding for some of those categories in support
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of those two assets?
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Well, there's two things on that front.
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One, yes, AI is great for making things more efficient and effective.
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And I mentioned the funneling processes of prospecting and deal execution.
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Data interpretation is very, very powerful.
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I think that one of the interesting things about time is most people think time
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is finite. I agree, technically,
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it's finite. But I also think that you can make time by using time more effectively.
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The illustration I use to support that is,
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let's say I'm a generalist. And last week I sold an apartment building,
24:15
a retail property, and an office building.
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And this week I'm pitching an office building.
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That owner wants to hear everything about the office building I sold last week.
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Couldn't care less about the apartment building and the retail property I sold.
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So two thirds of my time last week selling properties isn't helping
24:33
me get this week's assignment.
24:35
But imagine if I had sold three office buildings last week.
24:39
This week's client wants to hear everything about everything I did last week.
24:43
I just created time out of thin air.
24:45
So I think that further supports the thesis that specialization
24:50
is the best way to differentiate yourself today.
24:55
And in the old Massey-Nackle days,
24:57
we specialized by geography. Today,
25:00
we specialize by product type with a geographic orientation.
25:05
layered on top of that.
25:06
You know, one of the things that I've been talking about a lot is that
25:09
we are living in an age, especially with AI that we can create dashboards,
25:15
have some additional insights,
25:17
do some data mining that would have typically been reserved for the big players,
25:22
you know, that I used to work in the corporate world,
25:24
and we'd have data scientists that would cost ridiculous amounts of money
25:31
to get some of the insights we can have today leveraging AI.
25:36
You know, you have the NACL land index that goes back to 1984.
25:40
Like, what did it take to get 40 years of sales data to the point where
25:46
AI model could be leveraged against it?
25:49
And where did that data lie mean to you in the first place?
25:54
Yeah, well, you know, it's just that all the information was sitting in
25:58
a bunch of boxes. And just a matter of digging the boxes out,
26:01
dusting them off and sifting through it.
26:04
So the NACA land index took us about three years to put together,
26:08
but it really is a one of a kind study of 2489 development site sales south
26:14
of 96th Street in Manhattan going back to 1984.
26:17
And that data is also disaggregated into land sales
26:22
residential rental, residential condo,
26:24
office, hotel, and miscellaneous.
26:27
And it really is quite an extraordinary thing.
26:29
But I think you bring up a good,
26:31
great point, Jack, and that is that I think the power of AI today is going
26:36
to change the way the brokerage industry performs.
26:40
I think we saw from the 90s through last decade
26:44
a significant consolidation within the brokerage business because the
26:48
thought was, hey, if I work for one of these big global companies,
26:52
I'm going to have access to so much more data and that will help my business.
26:56
I think today there is less need to be at one of those big shops.
27:01
Anybody, high school kid could get the same data that used to take,
27:04
you know, a whole research department to come up with.
27:07
And so I think there's less need to be at a big shop.
27:11
And I think also the big shops with,
27:13
you know, the full
27:15
full service shops have so many conflicts of interest embedded in them that
27:20
I think you're to see a disaggregation within the brokerage business and
27:24
a lot more boutique firms starting up and a lot more people starting their
27:28
own businesses because you just don't need to be at a big company the
27:32
way you used to have to be at a big company.
27:36
Yeah, I think the stats are even showing that out now.
27:39
I think we see, I thought I saw something recently where we're seeing
27:44
the biggest uptick of entrepreneurship than we ever have in this country.
27:49
And you're probably proving out already.
27:53
Yeah, no, I think it's absolutely going to happen and,
27:57
you know, I expect to see a lot of that.
27:59
You being in New York, I'd be curious as to what you see on the horizon there.
28:03
mean, it, you know, being as remote as I am,
28:07
you know, we hear of ma'am Donnie,
28:10
the socialist mayor in that part of the world.
28:13
Do you foresee any significant changes on the landscape?
28:17
How does that look? Or how is that impacting any immediate changes
28:21
to the real estate?
28:22
Look, generally the real estate market in New York City is absolutely
28:28
on the upswing. It used to be we had to talk about specific product types,
28:32
but our transaction volume is up marginally,
28:37
it's up. Values are up very significantly again,
28:40
depending on product type. The only sector of the market that
28:43
is really suffering today is our rent stabilized housing stock,
28:46
and that is 100 % because of public policy.
28:51
Our rent regulated housing stock is more highly correlated to public policy than
28:56
even supply and demand. That's not the way it should work.
28:59
And so that sector of the market is really hurting down
29:05
75 % in terms of value from the peak.
29:08
And I think that by the time the current administration is done,
29:13
it'll be down 85 to 90%. But all other property types are
29:18
are seeing big increases in value.
29:21
clearly every property type with the exception of rent regulated housing
29:27
is seeing an upswing in transaction volume and in property value.
29:33
Well Bob, it's always such a pleasure to chat with you.
29:36
Before we start to dive into the rapid fire and close out this episode,
29:40
is there anything else we should have tried to hit on?
29:42
No, I think you know we could talk for hours and hours and hours about real estate.
29:46
I just think you know I always come back to the point that specialization
29:53
is the great differentiator and differentiation leads to
29:57
the best competitive advantages and so I think it's important for us to keep that
30:02
in mind and to also always remember that it's an information
30:05
and relationship business. So try to have the best information you can
30:09
and make sure you
30:10
You covet each of the relationships that you have with your clients.
30:15
Yeah, we could have probably spent some time on that regarding the niching down like
30:20
you did and finding that path.
30:22
You know, it seems like everybody that I talked to that actually picks their niche
30:27
and finds that sweet spot they that's when growth actually starts to take off.
30:33
Yeah, it's an addition by subtraction.
30:36
And you you think about when Steve Jobs came back to Apple,
30:40
he cut 80 % of the business lines that Apple had,
30:44
and the company absolutely took off.
30:47
And in the same way, you know,
30:49
I feel like, not that I'm comparing myself to Steve Jobs,
30:52
don't try to make that comparison.
30:53
You can go ahead and do that,
30:54
Bob. That's fine.
30:55
It's okay. But in
30:57
the same way, by eliminating working on many different types of properties,
31:02
like I say no to three or four times the number of listings that I
31:06
try to compete for, because I really want to stick to what's right down
31:09
the middle of the plate for me.
31:10
And I think that you actually grow by saying no to things.
31:15
And as counterintuitive as that is,
31:18
I really believe that's the case.
31:20
Well, if you're ready, Bob, we'll jump into the rapid fire and close
31:22
out this episode.
31:24
Sure, let's go Jack.
31:26
What lie do real estate investors often tell themselves?
31:31
that the cap rate is going to be what the cap rate is.
31:34
If you could go back in time and give your younger self a piece of advice,
31:37
what would it be?
31:39
Niche down, become an expert at one thing and create value in yourself
31:45
by knowing more about one particular thing than anybody.
31:49
Generalists get considered, specialists get selected,
31:55
the specialist doesn't want to know something about everything,
32:00
they want to know everything about something.
32:02
I need you to step back in time a little bit.
32:04
But when you were scaling your first business,
32:07
what was the first position you hired?
32:09
And would you have made the same choice?
32:12
Well, wouldn't. The first position we hired was just a salesperson.
32:17
But I will say the first position we hired that really was impactful
32:21
on the business was hiring head of admin to take a
32:27
lot of the burden off what Paul and I were doing at the beginning.
32:30
It was just Paul, myself and a secretary.
32:32
And we were doing everything. And every time we hired,
32:35
whether whether it was our head of admin or our CFO.
32:40
or head of HR, or a COO,
32:43
or a head of training. Every time we hired someone
32:46
to take administrative responsibilities off our back,
32:49
it allowed us to be much more productive as salespeople.
32:52
And so those are the hires that really mean the most.
32:56
I think you have to look at what all the different tasks are that you do and say,
33:00
is the most valuable thing I do for the company?
33:03
And try to do as much of that as you possibly can.
33:07
And then finally, what single tool or process have you implemented that
33:11
has had the biggest time saving impact?
33:12
Well, I think using AI, but I think the biggest or the most impactful activity
33:19
is always prospecting calls. Always has been,
33:22
always will be, whether you call them cold calls or prospecting calls,
33:27
making calls is the number one revenue generating activity a broker can do.
33:32
And you have to focus on that day after day,
33:35
week after week, month after month,
33:36
year after year, in my case, decade after decade,
33:39
but you always have to be making those
33:41
calls.
33:42
Well, this was fantastic. It was great to see you again,
33:45
Bob. One more time, is BKREA.com.
33:50
Or you can email Bob directly at BK at BKREA.com.
33:54
Really appreciate your time, Bob.
33:57
This was great to catch up and hope you'll be back again real soon.
34:01
All right, Jack, thanks so much for having me on.
34:03
Best of luck to everybody out there.