Smith finds niche in representing tenants By Jane Peterson Commercial Inc. Editor To Levi Smith, serving his clients means giving them the whole package, not just a few pieces of the puzzle. When considering the needs
of his clients, Smith looks at not only the amount of space they need, but
also the location, the markets and the cost. Obstacles don't stand in his
way. Along with Marilyn Meredith,
salesperson and director of research, if Smith finds the perfect space for a
client that is not on the market, he will go the extra mile and contact the
owner or manager to investigate the possibility of obtaining the space
anyway. An example of this is a
company that requested office space with signage along University Drive in
Rochester. Smith zeroed in on a
particularly attractive spot, but his research showed no vacancies. That didn’t stop him. He contacted the building’s owner, pointed
out the advantages to both companies and was able to negotiate a deal that
benefited everyone. It was the ability to
create win-win deals that first attracted Smith to the industry. A graduate
of Wayne Law School, Smith practiced general law in California and Michigan
until 1980. After a four-year stint as a commercial broker, he brokered the
sales of hotels for the brokerage firm Borland, Reiss, Murphy & Rembiesa. In 1988, Smith co-developed
some office buildings in Livonia and Southfield. This gave him a solid
understanding of the position of land- lords and property managers. "To be a good
negotiator you have to understand both sides of the table," he said. Smith switched career paths
for mostly personal reasons. "I thought law was too
adversarial, there had to be a winner and a loser," he said. "Real
estate was more of a win-win situation." And Smith was no stranger
to the industry. The grandson of Barney Smith, who owned and managed
Detroit-area apartment buildings and the son of Robert Smith, who built houses
and apartment buildings, he grew up around commercial real estate. In 1988, Smith ventured out
on his own. Based on his on-the-job experiences, he decided to concentrate on
representing tenants. His firm represents tenants and buyers exclusively. While tenants generally
don't have time to analyze the market, learn commercial real estate
vocabulary and become aware of the landlord's bottom line, Smith does. "I saw corporate
tenants as being the underdog in negotiations. Landlords deal with negotiations
every day, but commercial tenants only need to every five years or so,"
he said. "I like helping people and negotiating the best deal I can for
them. I thought this would be a good niche for me and it is." As a result, Levi F. Smith
Real Estate, Inc. has saved clients millions of dollars since 1988 by
negotiating on their behalf. Clients also know they can count on Smith even
when it's not negotiation time. If they have a concern with
a landlord, they feel free to contact Smith anytime. He encourages it. "It's not just a
transaction," he said. Smith is also able to
assist his clients nationally thanks to his membership in the Alliance of
Tenant Representatives organization. This group of 20 companies in North
America meets specific standards so instead of referring clients to just
another company, Smith knows the people he is recommending. Levi F. Smith Real Estate,
Inc. serves companies of all sizes with honesty, hard work and humor. "We work hard for the
small guy and the big guy and try to make it fun," he said. |