Episode 024: Paul Massey

Introduction:

Today we are lucky to have with us a true Renaissance man, a friend who has not only built a New York City investment sales juggernaut like none before it back in the 1980’s, but also someone who made the Territory Network™ for broker market intelligence and specialization famous, and who now intends - Building By Building, Block By Block™ - to bring the clarity and transparency that his old firm brought to what properties were worth, to that of the debt market as well. Please join me in welcoming none other than the groundbreaking and multi-talented Paul Massey, the founder and CEO of the newly created, but rapidly rising, B6 Real Estate Advisors.

Episode Notes:

At 2:16, Paul Massey believes one should seek to change the world with a strategic plan in place. At 3:04, Paul touches upon planting seeds when it comes to mentoring the next generation of professionals. At 4:14, Massey advises that B6 Real Estate Advisors does not see an oversaturated investment sales market, and instead sees a “big barn door open.” At 5:18, Paul informs that his rearview mirror is very clear and does not forecast the occurrence of a retail Armageddon. At 6:52, Massey talks about commercial rent control, and why he believes it to be unconstitutional. At 7:57, he chats about Massey Knakal, putting (part of) the band back together, and the yin and yang between himself and Bob Knakal. At 8:52, Paul stresses that if one sets out to go out on their own, one must know its competitive advantage. At 10:16, Massey discusses the process of walking clients through the ramifications of what they are entering into, and making sure clients have the pure motivation of proceeding after being informed. At 11:19, he dives into coaching the younger generations, along with the powerful tool of “listening.” At 12:13, Paul shares that there may not be an economic reason for his clients to sell. At 14:41, Massey elaborates on B6’s Territory Network™, and what he refers to as a broker’s “second territory.” At 18:28, he speaks about helping others. At 19:02, Paul points out an interesting statistic that the average building in NYC sells once every 39 years. At 20:35, Massey describes the culture of B6 as a deep rich fabric of who they are along with B6’s “sharing metrics.” At 22:06, he strongly feels that real estate is the best job on the planet, and advises those who are deciding on what they want to be when they grow up to give real estate a shot. At 22:51, Paul turns back the clock and revisits his summer job in Boston after graduating from Colgate University, and how starting at CBRE in NYC was a great launching pad for his career. At 24:50, Massey notes the importance of being in the “passion job” and never watching the clock. At 26:13, Paul explains his plans for the next 10 years - having fun, mentoring a new group of young professionals, and changing the world in bringing transparency to the debt business. At 28:36, Paul Massey closes the door on the podcast with a message on chasing one’s passion.