February 17, 2025 • 18 mins
Ever wondered how a nonprofit background can lead to a thriving career in commercial real estate? Caleb David, a standout figure in the Colorado Springs market, shares his transformative journey with us. From quarterbacking real estate deals to tackling industry challenges like outdated property listings, Caleb offers a wealth of knowledge for anyone looking to navigate this complex field. His focus on understanding clients' long-term goals and building a team with a strong culture is both inspiring and practical for those aspiring to make their mark in real estate. As Caleb continues to expand his team and share his insights through his upcoming podcast, "Commercial Real Estate Unfiltered," his commitment to excellence and client success is truly motivating.
In our conversation, Caleb also opens up about the essential qualities of humility and respect in building trust with clients, particularly in culturally diverse areas like Ethiopia. He recounts a pivotal moment when project delays required extended efforts without immediate financial gain, underscoring the importance of patience and integrity in business relationships. Caleb's dedication to relationship-building and securing the best outcomes for clients highlights the power of positive connections and mutual support. As we wrap up, we reflect on Caleb's personal goals and the broader impact of his humanitarian efforts, offering listeners not just lessons in real estate but also in fostering meaningful and supportive professional relationships.
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www.instagram.com/calebdavid
www.facebook.com/calebdavid
www.davidcommerical.com
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
But it's ridiculous.
They charge like it was like$250 for two of us to get in
what Like yeah.
Speaker 2 (00:07):
Oh my gosh.
Speaker 1 (00:10):
I know, but it's at the ball arena, so it's like you
know.
It fits like 70,000 people, Wow.
Speaker 3 (00:35):
All right, let's get started.
Welcome to episode 54 of theNOW podcast Making Moves in Real
Estate.
Today, we're diving intocommercial real estate, which is
an area that we have not doneyet, so we're super excited
about that.
We're going to talk about thatand leadership and impact with
somebody by the name of CalebDavid.
He is a powerhouse in theColorado Springs market.
His expertise spans office,medical, retail, industrial and
(00:59):
land markets.
Beyond real estate, he's a 2022Colorado governor's Fellow, a
board member for the BBB ofSouthern communities and a
recipient of the Golden RuleGoodwill Ambassadorship Award
(01:30):
for his humanitarian work inEthiopia.
Caleb is all about one of ourfavorite adjectives or nouns Is
that a noun?
Connection and creating spacefor people to be seen and heard.
I think I can genuinely saythat Caleb is my friend, so
(01:50):
let's get started and welcomeCaleb to our podcast.
Speaker 1 (01:55):
Thank you so much.
I'm so excited.
I've been looking forward tothis for some time, so I'm glad
to get to share some time withyou and the listeners.
Speaker 2 (02:01):
Yes, we are so happy to have you on.
Michelle and I were talkingabout what topics we wanted to
get on and bring to ourlisteners and we realized that
we had never had a guest on thatspecializes in commercial.
So we would love, I think,first maybe just how many years
you've been doing the commercialand how has the market been for
you.
Speaker 1 (02:21):
Yeah, absolutely.
So I've been doing this nowjust for over a decade.
Got into it about the age of 35, when I still had some guts and
decided to take the leap offaith and get into an industry
that I knew absolutely nothingabout.
It was intimidating, with mybackground being in the
nonprofit world.
I was just like this is acompletely different turn, but
(02:45):
fell into an opportunity where Igot to be an assistant and then
, if I liked it, get intobrokerage, and so had a great
time.
The market was still slow, whichI'm actually really grateful
for.
It was still recovering from2008 when I got in in 2014.
And so getting to have to geton the ground and really put the
work in was important for thesuccess of my business, because
(03:09):
when things got good, Iremembered that oh wait, things
can actually be really bad aswell, and so about 2016, I would
say, is when the market reallystarted taking off here in
Colorado Springs, and then itjust has been a hayride until
2022.
And then things got bad again,you know, and so we had to get
creative, and eventually I wentoff and started my own brokerage
(03:33):
.
So I've been on my own now forabout almost five years now, and
it's been a pretty fun ride.
Speaker 3 (03:40):
So you're on your own in Colorado.
What's the makeup of your team?
Speaker 1 (03:46):
Yeah, so we don't have a huge team, because
culture is really important, andI think that's something that I
share with you all is that weknow that having the right
culture and the right people isincredibly important and we want
to be different, and so rightnow, I've got two part-time
agents that work with me, andthen I've got an office manager
as well, and then myself, butlooking to build the team with
(04:09):
some more experienced folks whocan really hit the ground
running, and so I'm hoping inthe next year in 2025, we'll be
able to add someone else to ourteam.
You know, with having done thisfor about 10 years, I'm ready
for a little bit of a breather,but you know it's got to be with
the right people.
Speaker 3 (04:32):
Well, you heard him.
Anyone in the Colorado Springsarea that's a licensed realtor
needs to hit Caleb up.
Yes, Tell our listeners whatcommercial real estate involves.
What's your day-to-day looklike?
I mean, it's a big when youtalk about commercial real
estate.
It's a little daunting to me.
So tell our listeners what thatreally actually looks like and
means for you.
Speaker 1 (04:43):
Yeah, and I think what I might even do is say this
is how it should look, becauseI think in our industry it's
dominated by a sector of peoplethat just feel like they can sit
in their high towers and justdo deals and that sort of thing.
But for me it's about listeningand asking the right questions
of our clients and understandingthe big picture, because the
(05:04):
big picture will inform clients.
And understanding the bigpicture because the big picture
will inform how we makedecisions moving forward,
whether it be trying to find theright zoning, the right lender,
the right contractors.
So I tell my clients it's kindof like I'm a quarterback and my
job is to call the plays forthe team and make sure that
everybody's executing where theyshould.
(05:25):
So you know, typically fromit's a great question.
No one's ever asked me thatquestion before is what does a
day look like?
Not a single day looks the same, you know.
But if we take it from someonecalls, you know, off of one of
our signs, you know we start anintake call and we start asking
questions, we find out moreabout their background and then
really try to understand whattheir five to 10 year goals are,
(05:47):
and so that kind of helps us,you know, with our searching.
You know we don't have an MLS.
It's kind of like the Wild Westout there.
People don't understand that ifyou go online and find a
property, more than likely it'sgone.
You know it was probably soldthree years ago, but because
nobody the brokers aren'tupdating their sites.
And what people also don'trealize is that there are
(06:08):
third-party websites that takeour listings and repost them and
never take them down.
So what they're intending to dois to try to find somebody that
that property works for.
Bring them to us, and they wanta 20% referral commission.
So it's definitely one of thosethings that I tell people you
need to have someone on yourteam.
(06:28):
You know I'm not an expert inresidential real estate, so if I
go to buy a house, I'm hiring aresidential agent to help me.
Can I do it?
Sure, but should I?
Probably not.
And so you know we make sure wedo a call with someone, get as
much information as we can,understand their budget, talk
them through answering questionsabout areas of town.
If it's a coffee shop, theyprobably want to have a
(06:50):
drive-through.
So we've got to find somethingthat works for them, and so
we'll put together a search,send it over to a client, have
them kind of say here's my topthree to five options, if there
are that many, and then we startthe calling process and
confirming the information, setup a showing and if the space
works, then we go to what'scalled a letter of intent.
(07:10):
Instead of writing a contract,we essentially start
pre-negotiating what that leaseor purchase would be.
Speaker 2 (07:17):
Is more of your business on the lease side or
the purchase side, or is it likea mixture?
Speaker 1 (07:22):
Yeah, it's a mixture.
The last two years it'sdefinitely been like 99% leasing
.
People just got really scaredwith the interest rates and
listen, people complain aboutthat.
But at the same time the markethere was so wild I could put
something in the market within aweek it's under contract and
the prices were just getting outof control.
(07:42):
So about four years ago I'mlike something's got to give
here.
We can't stay at this hotmarket forever, and so the
interest rates are now helpingcorrect pricing in certain areas
.
So we're starting to see lastyear I only had two transactions
that were sales, which is very,very low, but the rest were all
leases.
So leases are kind of the breadand butter and then when you
(08:04):
get a purchase it's kind of fun.
But we're in February and I'vealready got two properties under
contract for sale.
So we're on track on a littlebit of an update compared to the
last 18 to 24 months.
Speaker 2 (08:16):
Well, congratulations .
Yeah, that's good news.
Speaker 1 (08:19):
Thank you.
Speaker 2 (08:20):
I'm curious when you're searching with commercial
in your market, do you use likeLoopNet or Crexie, or are those
more in our area?
Speaker 1 (08:28):
Yeah, no, those are all platforms that we have used.
At one point LoopNet was boughtout by CoStar and they're the
main.
That's kind of the hub for thecommercial properties.
That's where most people's eyesare.
However, it's also veryexpensive and very restrictive,
so we do list our properties onthose sites, but the main one
that we actually use is calledCatalyst by Moody's Analyst, and
(08:53):
it seems to have the best datafor the best price and that also
pushes to consumers so they cansee it online.
When we put it up With LoopNet,what people do not understand,
they think LoopNet is kind ofthe end all.
Loopnet actually chargesbrokerages a pretty ridiculous
amount of money for theirproperties to become visible.
Yes, they have a betterturnover as far as how quickly
(09:16):
the properties lease or sell,but we've just got to the point
where we can't justify the costand so we get creative, but we
still for all of our propertiesthat we list.
It goes to all of those Crexieas well.
But in my personal experience,at least in our market, I would
say that Catalyst is probablyour best tool.
Speaker 3 (09:40):
Gotcha Well, so you're obviously a successful
broker in the Colorado market.
Let's talk about thecharacteristics that you have
from your former life innonprofit and even now we talk
about your humanitarian efforts,like what about those life
experiences have brought you tobecome so successful in your
(10:01):
commercial real estate?
Speaker 1 (10:03):
Yeah, I think you know.
I think the biggest thing isthat people have this belief,
that people remember how youmake them feel and people want
to be listened to.
And I had 20-plus years in thenonprofit sector and doing
things wrong for a very longtime I was very much focused on
oh, this is how it needs to bedone.
(10:23):
I'm an American, I can gooverseas and I can be like, okay
, let me help you fix thesituation.
And over time, I realized howarrogant that was and I think
there's a lot of arrogance andego in my industry as well.
Help me fix the situation.
And over time, I realized howarrogant that was.
You know, and I think there's alot of arrogance and ego in my
industry as well.
And so, taking the time tolisten, you know I did a lot of
work in Ethiopia.
I've been there probably closeto 30 times.
Both my kids are adopted fromEthiopia and over time, I had to
(10:48):
learn the humility of realizingI don't have the answers and
find the resources that arewithin the country, the people
that understand the culture thatcan help me bring dignity in
the help that I bring.
And so, I think, listening topeople and treating people with
(11:09):
respect and humility, I think issomething that I've learned and
brought over into this industryand I think it's really set us
apart.
I mean, I've even had someonecome to me and come to our
website and said there was anAfrican-American, and they said
I went to your website and Ifelt safe, and that is something
that is so important to me in avery white, male-dominated
(11:31):
industry.
Industry is to bring thatdiversity, to have more women in
commercial real estate, to have, you know, someone who is
bilingual and can speak Spanish.
They're just a transaction, youknow, and something to make me
(11:53):
feel better or something to makeme feel useful, you know,
because I think so often in thearea of service, we're serving
to get our goodness reflectedback to us, right, and so I
think bringing to the table thatwe are all inherently good, you
know, and treating people likethat makes a big difference.
Speaker 2 (12:14):
Well, I can see how important that would be.
When the bulk of yourbusinesses are leases, where
you're servicing clients for along period of time, it would be
so critical that they thatyou've established that trust
with them and that they feelcomfortable with you.
It's not a one and done likesome trends Absolutely.
Speaker 1 (12:33):
Absolutely.
And we have situations, I mean,where I mean I just I'm
wrapping up a situation rightnow where I got a lease signed
last June for a client and thecontractor was supposed to get
the work done by September 1 sothey could get inspected by the
state for their licensure.
And you know, we got paid onthe first half of the lease but
the contractor just keptdragging my client out, dragging
(12:55):
it out.
They finally finished the workliterally two weeks ago and we
still haven't gotten paid on thesecond half of work that we did
a year ago.
And people don't understand howthat works, you know.
And so the owner of the buildingwas like well, until they're
open and get their license, youknow they had been paying rent
for three, four months, so theyburned through the free rent
(13:15):
period.
And that's something thatpeople don't think about as well
is that when you're goingthrough the process, you need to
help your clients get the bestdeal possible by trying to get
some free rent, trying to getsome tenant improvement
allowance from the landlord.
And you know, in thisparticular case, you case we're
still waiting on payment, but westayed six months or longer, no
(13:37):
, seven, eight months, with theclient following up with them
every week, checking in with alisting broker or the owner to
make sure that all of this gotdone.
And so we finally got it doneand hopefully there's a check in
the mail soon.
Speaker 3 (13:52):
Yeah Well, I think it sounds a lot like, you know,
residential real estate, wherepeople just don't see the behind
the scenes work.
Yes, and they just assumeyou're just getting paid, and
there's a lot of work whereyou're not getting paid or
you're waiting to get paid, soit's definitely a difficult.
Speaker 2 (14:11):
Yeah, I think we can relate with some of our probate
sales that we've handledrecently.
That were months and months ofwork before they even hit the
market and small price points.
Speaker 1 (14:21):
Yeah, but we have happy clients, happy clients.
Yeah, and I think you know whenyou treat people right they
come back around.
You know I've had clients thathave come back to me three, four
times Anytime they needsomething in commercial real
estate or they refer a friend.
I mean I haven't cold called inyears, it's just been a steady
stream of referral.
Speaker 3 (14:41):
It's the connection side of you, caleb for sure.
Speaker 2 (14:43):
Yeah, absolutely.
Speaker 3 (14:50):
So what's going on with your business this year?
What?
Speaker 1 (14:52):
are your goals and how are you planning to get
there?
Yeah, so my goals for this yearI mentioned earlier would love
to add an experienced broker toour team that can take some
workload off, but also to startworking after the last two years
.
I mean honestly to get out ofsome debt that has come about
and to seek creative ways of howcan I maximize my business with
(15:13):
as little effort as possible.
And so one of the ways I'mdoing that is doing podcasts,
because I really like to educatepeople and help people in that
way, and even if it doesn't comewith a check, that's okay,
because you're arming peoplewith good information.
And so, after talking with youall and doing a few other
podcasts, I am launching my ownpodcast that's coming out soon I
(15:34):
don't have a date yet, but it'sgoing to be called Commercial
Real Estate Unfiltered, andwe're going to have tons of
different guests on, and I'mreally looking forward to that.
So I think that's one of theways I'm going to reach those
goals is to get more of thatvisibility, because commercial
real estate should beapproachable, and so I think
(15:55):
when it becomes approachable,then the fear factor is taken
out for a small to medium-sizedbusiness and they're able to
make quality decisions for theirbusiness.
And when my clients' businessesthrive, then I do as well.
So those are some things thatwe're looking at doing for this
year.
Speaker 2 (16:11):
So exciting, so exciting.
Congratulations, kayla.
Speaker 1 (16:14):
Thank you.
Speaker 3 (16:15):
Yeah, we're so excited to have met you, kayla.
I feel like you're just such abreath of fresh air and I'm
blessed to have gotten to knowyou.
Speaker 1 (16:23):
You as well.
I feel the same.
Speaker 3 (16:26):
I think light attracts like yeah, that's so
true, so true, so well.
We're grateful to have you onthe podcast.
So true, so well.
We're grateful to have you onthe podcast.
And would you please be so kindto let our listeners know where
they can get in touch with you,especially any commercial real
estate agents out there inColorado Springs?
(16:46):
So let's get them an agent.
Speaker 1 (16:48):
folks Get them an agent and a guest on the podcast
.
That would be amazing.
Yeah, they could live anywhereup and down the front range.
I do work from North Coloradodown to Colorado Springs and
sometimes Pueblo, but you knowthey can find and here's the
thing we want people to reachout to us, even if you just have
questions.
We do lease reviews for people.
(17:08):
We kind of help people,especially when things were
rough the last couple of years.
People are trying to decidewhat do I do?
You know so we can take a lookat your lease.
We can take a look at yourbuilding, if you own it, and say
is it the right time to buy?
Should you lease?
Should you find another tenant?
You know so we want to be thatresource for people and we do
that for free, you know.
(17:28):
So pick up the phone, say hello, send us an email.
You can find me on Instagram atCaleb David, same at LinkedIn
and Facebook is facebookcom.
Slash Caleb David, and so we'llbe putting out some more
content.
Hopefully that will be helpfulto everyone.
And then you can just go to ourwebsite as well, which is just
davidcommercialcom, and we'dlove to have a conversation.
Speaker 2 (17:50):
That's awesome.
Yeah, that's so great.
Well, for all of you listening,make sure you check out this
episode on our YouTube channelthe now podcast for real, Make
sure you subscribe.
That way you can get all ofCaleb's info on there and you
can hit us up.
You have any questions for him.
We'll definitely be looking atit and responding and I just so
(18:11):
appreciate you coming on, Caleb.
Thank you so much.
Speaker 1 (18:14):
Thank you for having me.
It's always a pleasure.
Speaker 3 (18:16):
Thank you, Caleb.
We'll talk to you soon.
Speaker 1 (18:19):
Bye Talk to you soon, bye-bye you.
But it's ridiculous.
They charge like it was like$250 for two of us to get in
what Like yeah.
Speaker 2 (00:07):
Oh my gosh.
Speaker 1 (00:10):
I know, but it's at the ball arena, so it's like you
know.
It fits like 70,000 people, Wow.
Speaker 3 (00:35):
All right, let's get started.
Welcome to episode 54 of theNOW podcast Making Moves in Real
Estate.
Today, we're diving intocommercial real estate, which is
an area that we have not doneyet, so we're super excited
about that.
We're going to talk about thatand leadership and impact with
somebody by the name of CalebDavid.
He is a powerhouse in theColorado Springs market.
His expertise spans office,medical, retail, industrial and
(00:59):
land markets.
Beyond real estate, he's a 2022Colorado governor's Fellow, a
board member for the BBB ofSouthern communities and a
recipient of the Golden RuleGoodwill Ambassadorship Award
(01:30):
for his humanitarian work inEthiopia.
Caleb is all about one of ourfavorite adjectives or nouns Is
that a noun?
Connection and creating spacefor people to be seen and heard.
I think I can genuinely saythat Caleb is my friend, so
(01:50):
let's get started and welcomeCaleb to our podcast.
Speaker 1 (01:55):
Thank you so much.
I'm so excited.
I've been looking forward tothis for some time, so I'm glad
to get to share some time withyou and the listeners.
Speaker 2 (02:01):
Yes, we are so happy to have you on.
Michelle and I were talkingabout what topics we wanted to
get on and bring to ourlisteners and we realized that
we had never had a guest on thatspecializes in commercial.
So we would love, I think,first maybe just how many years
you've been doing the commercialand how has the market been for
you.
Speaker 1 (02:21):
Yeah, absolutely.
So I've been doing this nowjust for over a decade.
Got into it about the age of 35, when I still had some guts and
decided to take the leap offaith and get into an industry
that I knew absolutely nothingabout.
It was intimidating, with mybackground being in the
nonprofit world.
I was just like this is acompletely different turn, but
(02:45):
fell into an opportunity where Igot to be an assistant and then
, if I liked it, get intobrokerage, and so had a great
time.
The market was still slow, whichI'm actually really grateful
for.
It was still recovering from2008 when I got in in 2014.
And so getting to have to geton the ground and really put the
work in was important for thesuccess of my business, because
(03:09):
when things got good, Iremembered that oh wait, things
can actually be really bad aswell, and so about 2016, I would
say, is when the market reallystarted taking off here in
Colorado Springs, and then itjust has been a hayride until
2022.
And then things got bad again,you know, and so we had to get
creative, and eventually I wentoff and started my own brokerage
(03:33):
.
So I've been on my own now forabout almost five years now, and
it's been a pretty fun ride.
Speaker 3 (03:40):
So you're on your own in Colorado.
What's the makeup of your team?
Speaker 1 (03:46):
Yeah, so we don't have a huge team, because
culture is really important, andI think that's something that I
share with you all is that weknow that having the right
culture and the right people isincredibly important and we want
to be different, and so rightnow, I've got two part-time
agents that work with me, andthen I've got an office manager
as well, and then myself, butlooking to build the team with
(04:09):
some more experienced folks whocan really hit the ground
running, and so I'm hoping inthe next year in 2025, we'll be
able to add someone else to ourteam.
You know, with having done thisfor about 10 years, I'm ready
for a little bit of a breather,but you know it's got to be with
the right people.
Speaker 3 (04:32):
Well, you heard him.
Anyone in the Colorado Springsarea that's a licensed realtor
needs to hit Caleb up.
Yes, Tell our listeners whatcommercial real estate involves.
What's your day-to-day looklike?
I mean, it's a big when youtalk about commercial real
estate.
It's a little daunting to me.
So tell our listeners what thatreally actually looks like and
means for you.
Speaker 1 (04:43):
Yeah, and I think what I might even do is say this
is how it should look, becauseI think in our industry it's
dominated by a sector of peoplethat just feel like they can sit
in their high towers and justdo deals and that sort of thing.
But for me it's about listeningand asking the right questions
of our clients and understandingthe big picture, because the
(05:04):
big picture will inform clients.
And understanding the bigpicture because the big picture
will inform how we makedecisions moving forward,
whether it be trying to find theright zoning, the right lender,
the right contractors.
So I tell my clients it's kindof like I'm a quarterback and my
job is to call the plays forthe team and make sure that
everybody's executing where theyshould.
(05:25):
So you know, typically fromit's a great question.
No one's ever asked me thatquestion before is what does a
day look like?
Not a single day looks the same, you know.
But if we take it from someonecalls, you know, off of one of
our signs, you know we start anintake call and we start asking
questions, we find out moreabout their background and then
really try to understand whattheir five to 10 year goals are,
(05:47):
and so that kind of helps us,you know, with our searching.
You know we don't have an MLS.
It's kind of like the Wild Westout there.
People don't understand that ifyou go online and find a
property, more than likely it'sgone.
You know it was probably soldthree years ago, but because
nobody the brokers aren'tupdating their sites.
And what people also don'trealize is that there are
(06:08):
third-party websites that takeour listings and repost them and
never take them down.
So what they're intending to dois to try to find somebody that
that property works for.
Bring them to us, and they wanta 20% referral commission.
So it's definitely one of thosethings that I tell people you
need to have someone on yourteam.
(06:28):
You know I'm not an expert inresidential real estate, so if I
go to buy a house, I'm hiring aresidential agent to help me.
Can I do it?
Sure, but should I?
Probably not.
And so you know we make sure wedo a call with someone, get as
much information as we can,understand their budget, talk
them through answering questionsabout areas of town.
If it's a coffee shop, theyprobably want to have a
(06:50):
drive-through.
So we've got to find somethingthat works for them, and so
we'll put together a search,send it over to a client, have
them kind of say here's my topthree to five options, if there
are that many, and then we startthe calling process and
confirming the information, setup a showing and if the space
works, then we go to what'scalled a letter of intent.
(07:10):
Instead of writing a contract,we essentially start
pre-negotiating what that leaseor purchase would be.
Speaker 2 (07:17):
Is more of your business on the lease side or
the purchase side, or is it likea mixture?
Speaker 1 (07:22):
Yeah, it's a mixture.
The last two years it'sdefinitely been like 99% leasing
.
People just got really scaredwith the interest rates and
listen, people complain aboutthat.
But at the same time the markethere was so wild I could put
something in the market within aweek it's under contract and
the prices were just getting outof control.
(07:42):
So about four years ago I'mlike something's got to give
here.
We can't stay at this hotmarket forever, and so the
interest rates are now helpingcorrect pricing in certain areas
.
So we're starting to see lastyear I only had two transactions
that were sales, which is very,very low, but the rest were all
leases.
So leases are kind of the breadand butter and then when you
(08:04):
get a purchase it's kind of fun.
But we're in February and I'vealready got two properties under
contract for sale.
So we're on track on a littlebit of an update compared to the
last 18 to 24 months.
Speaker 2 (08:16):
Well, congratulations .
Yeah, that's good news.
Speaker 1 (08:19):
Thank you.
Speaker 2 (08:20):
I'm curious when you're searching with commercial
in your market, do you use likeLoopNet or Crexie, or are those
more in our area?
Speaker 1 (08:28):
Yeah, no, those are all platforms that we have used.
At one point LoopNet was boughtout by CoStar and they're the
main.
That's kind of the hub for thecommercial properties.
That's where most people's eyesare.
However, it's also veryexpensive and very restrictive,
so we do list our properties onthose sites, but the main one
that we actually use is calledCatalyst by Moody's Analyst, and
(08:53):
it seems to have the best datafor the best price and that also
pushes to consumers so they cansee it online.
When we put it up With LoopNet,what people do not understand,
they think LoopNet is kind ofthe end all.
Loopnet actually chargesbrokerages a pretty ridiculous
amount of money for theirproperties to become visible.
Yes, they have a betterturnover as far as how quickly
(09:16):
the properties lease or sell,but we've just got to the point
where we can't justify the costand so we get creative, but we
still for all of our propertiesthat we list.
It goes to all of those Crexieas well.
But in my personal experience,at least in our market, I would
say that Catalyst is probablyour best tool.
Speaker 3 (09:40):
Gotcha Well, so you're obviously a successful
broker in the Colorado market.
Let's talk about thecharacteristics that you have
from your former life innonprofit and even now we talk
about your humanitarian efforts,like what about those life
experiences have brought you tobecome so successful in your
(10:01):
commercial real estate?
Speaker 1 (10:03):
Yeah, I think you know.
I think the biggest thing isthat people have this belief,
that people remember how youmake them feel and people want
to be listened to.
And I had 20-plus years in thenonprofit sector and doing
things wrong for a very longtime I was very much focused on
oh, this is how it needs to bedone.
(10:23):
I'm an American, I can gooverseas and I can be like, okay
, let me help you fix thesituation.
And over time, I realized howarrogant that was and I think
there's a lot of arrogance andego in my industry as well.
Help me fix the situation.
And over time, I realized howarrogant that was.
You know, and I think there's alot of arrogance and ego in my
industry as well.
And so, taking the time tolisten, you know I did a lot of
work in Ethiopia.
I've been there probably closeto 30 times.
Both my kids are adopted fromEthiopia and over time, I had to
(10:48):
learn the humility of realizingI don't have the answers and
find the resources that arewithin the country, the people
that understand the culture thatcan help me bring dignity in
the help that I bring.
And so, I think, listening topeople and treating people with
(11:09):
respect and humility, I think issomething that I've learned and
brought over into this industryand I think it's really set us
apart.
I mean, I've even had someonecome to me and come to our
website and said there was anAfrican-American, and they said
I went to your website and Ifelt safe, and that is something
that is so important to me in avery white, male-dominated
(11:31):
industry.
Industry is to bring thatdiversity, to have more women in
commercial real estate, to have, you know, someone who is
bilingual and can speak Spanish.
They're just a transaction, youknow, and something to make me
(11:53):
feel better or something to makeme feel useful, you know,
because I think so often in thearea of service, we're serving
to get our goodness reflectedback to us, right, and so I
think bringing to the table thatwe are all inherently good, you
know, and treating people likethat makes a big difference.
Speaker 2 (12:14):
Well, I can see how important that would be.
When the bulk of yourbusinesses are leases, where
you're servicing clients for along period of time, it would be
so critical that they thatyou've established that trust
with them and that they feelcomfortable with you.
It's not a one and done likesome trends Absolutely.
Speaker 1 (12:33):
Absolutely.
And we have situations, I mean,where I mean I just I'm
wrapping up a situation rightnow where I got a lease signed
last June for a client and thecontractor was supposed to get
the work done by September 1 sothey could get inspected by the
state for their licensure.
And you know, we got paid onthe first half of the lease but
the contractor just keptdragging my client out, dragging
(12:55):
it out.
They finally finished the workliterally two weeks ago and we
still haven't gotten paid on thesecond half of work that we did
a year ago.
And people don't understand howthat works, you know.
And so the owner of the buildingwas like well, until they're
open and get their license, youknow they had been paying rent
for three, four months, so theyburned through the free rent
(13:15):
period.
And that's something thatpeople don't think about as well
is that when you're goingthrough the process, you need to
help your clients get the bestdeal possible by trying to get
some free rent, trying to getsome tenant improvement
allowance from the landlord.
And you know, in thisparticular case, you case we're
still waiting on payment, but westayed six months or longer, no
(13:37):
, seven, eight months, with theclient following up with them
every week, checking in with alisting broker or the owner to
make sure that all of this gotdone.
And so we finally got it doneand hopefully there's a check in
the mail soon.
Speaker 3 (13:52):
Yeah Well, I think it sounds a lot like, you know,
residential real estate, wherepeople just don't see the behind
the scenes work.
Yes, and they just assumeyou're just getting paid, and
there's a lot of work whereyou're not getting paid or
you're waiting to get paid, soit's definitely a difficult.
Speaker 2 (14:11):
Yeah, I think we can relate with some of our probate
sales that we've handledrecently.
That were months and months ofwork before they even hit the
market and small price points.
Speaker 1 (14:21):
Yeah, but we have happy clients, happy clients.
Yeah, and I think you know whenyou treat people right they
come back around.
You know I've had clients thathave come back to me three, four
times Anytime they needsomething in commercial real
estate or they refer a friend.
I mean I haven't cold called inyears, it's just been a steady
stream of referral.
Speaker 3 (14:41):
It's the connection side of you, caleb for sure.
Speaker 2 (14:43):
Yeah, absolutely.
Speaker 3 (14:50):
So what's going on with your business this year?
What?
Speaker 1 (14:52):
are your goals and how are you planning to get
there?
Yeah, so my goals for this yearI mentioned earlier would love
to add an experienced broker toour team that can take some
workload off, but also to startworking after the last two years
.
I mean honestly to get out ofsome debt that has come about
and to seek creative ways of howcan I maximize my business with
(15:13):
as little effort as possible.
And so one of the ways I'mdoing that is doing podcasts,
because I really like to educatepeople and help people in that
way, and even if it doesn't comewith a check, that's okay,
because you're arming peoplewith good information.
And so, after talking with youall and doing a few other
podcasts, I am launching my ownpodcast that's coming out soon I
(15:34):
don't have a date yet, but it'sgoing to be called Commercial
Real Estate Unfiltered, andwe're going to have tons of
different guests on, and I'mreally looking forward to that.
So I think that's one of theways I'm going to reach those
goals is to get more of thatvisibility, because commercial
real estate should beapproachable, and so I think
(15:55):
when it becomes approachable,then the fear factor is taken
out for a small to medium-sizedbusiness and they're able to
make quality decisions for theirbusiness.
And when my clients' businessesthrive, then I do as well.
So those are some things thatwe're looking at doing for this
year.
Speaker 2 (16:11):
So exciting, so exciting.
Congratulations, kayla.
Speaker 1 (16:14):
Thank you.
Speaker 3 (16:15):
Yeah, we're so excited to have met you, kayla.
I feel like you're just such abreath of fresh air and I'm
blessed to have gotten to knowyou.
Speaker 1 (16:23):
You as well.
I feel the same.
Speaker 3 (16:26):
I think light attracts like yeah, that's so
true, so true, so well.
We're grateful to have you onthe podcast.
So true, so well.
We're grateful to have you onthe podcast.
And would you please be so kindto let our listeners know where
they can get in touch with you,especially any commercial real
estate agents out there inColorado Springs?
(16:46):
So let's get them an agent.
Speaker 1 (16:48):
folks Get them an agent and a guest on the podcast
.
That would be amazing.
Yeah, they could live anywhereup and down the front range.
I do work from North Coloradodown to Colorado Springs and
sometimes Pueblo, but you knowthey can find and here's the
thing we want people to reachout to us, even if you just have
questions.
We do lease reviews for people.
(17:08):
We kind of help people,especially when things were
rough the last couple of years.
People are trying to decidewhat do I do?
You know so we can take a lookat your lease.
We can take a look at yourbuilding, if you own it, and say
is it the right time to buy?
Should you lease?
Should you find another tenant?
You know so we want to be thatresource for people and we do
that for free, you know.
(17:28):
So pick up the phone, say hello, send us an email.
You can find me on Instagram atCaleb David, same at LinkedIn
and Facebook is facebookcom.
Slash Caleb David, and so we'llbe putting out some more
content.
Hopefully that will be helpfulto everyone.
And then you can just go to ourwebsite as well, which is just
davidcommercialcom, and we'dlove to have a conversation.
Speaker 2 (17:50):
That's awesome.
Yeah, that's so great.
Well, for all of you listening,make sure you check out this
episode on our YouTube channelthe now podcast for real, Make
sure you subscribe.
That way you can get all ofCaleb's info on there and you
can hit us up.
You have any questions for him.
We'll definitely be looking atit and responding and I just so
(18:11):
appreciate you coming on, Caleb.
Thank you so much.
Speaker 1 (18:14):
Thank you for having me.
It's always a pleasure.
Speaker 3 (18:16):
Thank you, Caleb.
We'll talk to you soon.
Speaker 1 (18:19):
Bye Talk to you soon, bye-bye you.
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