Our guest today is James Kynes, the broker CEO of Rushman Moore Real Estate Group, who specializes in tenant representation and business brokerage. In this episode, we talk about how he helps to connect businesses with the right buildings, how you can set up your properties to be attractive to businesses, or how to package your company to sell it to other people. Learn more about James and his journey at reiclarity.com!
“What brought me to real estate was actually the love of transactions.”
James started his career in sales and business development. He also worked in the entertainment industry and ran a barbershop. Soon, he realized that he liked business to business type of work the most. Eventually, he had an opportunity to work with a group of business brokers, but first, he needed to get his real estate license.
James had many connections from his successful barbershop which helped him make the transition to business brokerage.
“We help position our clients for better deals or better locations to be more desired by landlords.”
James got interested in tenant representation in commercial real estate when he completed a class on the topic. He realized that it really fit his background and experience as he had a large network.
Being a tenant rep means connecting commercial retail, land, or industrial spaces with quality tenants to help the investors become more cash flowing and improve the property. James represents the tenant and helps them with strategies and branding to find the best spaces. This also helps the landlords to have solid, reliable businesses in their spaces.
The landlord pays a commission fee on the transaction, usually 6%, that’s split 50/50 between the landlord’s representative and the tenant rep.
According to James, tenants are looking for these top 3 things in a commercial property:
- Great location
- Fits their budget
- A fair, knowledgeable landlord
“You have to have a dream that’s big enough that you can fit somebody else’s dream in it.”
At the end of the episode, James picks an action step from the REI Clarity Framework that is the most valuable for him. This is the “Grow your community.”
James’s advice is to get involved in your community and get into the mindset of giving back. For example, he began volunteer coaching to add value to other people’s lives.
According to James, it is helpful to be a part of professional groups as well, but make sure that you are not the most experienced and knowledgeable person in the room, so you can keep learning.
Mentioned in the show:
- His Phone number: 6783602744
- His LinkedIn
- The REI Clarity Framework
Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.
Special thanks to James Kynes for taking the time to share so many great insights with us
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Show produced by Eni Horvath