Why the Next Generation of Brokers Matters More Than Ever

Returning to the Arizona commercial real estate market after four years in Southern California has given me a clear view of how dramatically the Valley’s landscape has changed, and how exciting that feels as a retail broker. The corridors I once drove daily are now filled with new shopping centers and innovative concepts, and more are on the way.

While I was gone, metro Phoenix welcomed between 50,000 and 70,000 new residents annually, bringing today’s population to over 5 million. Western Retail Advisors shares that energy, growing by about 25% during my time away.

Some of our firm’s growth has come through the addition of younger, rising brokers. In fact, at the same time that I returned as an Associate Vice President, WRA added Lee Larcher and Megan Adamic as Senior Associates. Lee started his career as a WRA intern, and rejoins with a decade of added experience. Megan joins the firm from a leading commercial real estate brokerage and development group.

I’m proud of this, because brokerage firms that fail to diversify or resist new tools and perspectives will eventually fall behind. In contrast, evolving helps us all work more efficiently, anticipate trends and capitalize on them for the benefit of our company, clients and community.

Why Younger Brokers Matter

Younger brokers are critical to that evolution, adding both curiosity and technological fluency. They also bring an acute understanding of consumer shifts – like Gen Z’s increased prioritization of health, wellness and longevity.

As Phoenix’s population booms, it’s more important than ever to identify these preferences early and stay one step ahead as tenant mixes transform. Whether it’s fashion and fitness, coffee or experiential dining, younger brokers offer a great advantage in identifying and capitalizing on new frontiers.

Lee Larcher

Senior Associate
Favorite Tech Tool?
My cell phone, because speed and access win deals. Also Placer.ai for data validating site selection.
Favorite Emerging Trend?
Technology. It has changed the way people spend their time and money, and how owners and operators engage with their customers and communities. Those who use it are outperforming and will continue to lead.
Cool Recent Win?
Securing a high-profile location for a growing brand by getting in early, leveraging relationships and technology, and speed to execution – ultimately providing value for both sides.

Fresh Perspectives Meet Deal Fundamentals

Their questions also encourage us more experienced brokers to slow down and revisit fundamentals. Not long ago, I was learning the subtleties of dealmaking. Now, when a younger broker asks why a term is structured a certain way in an LOI or how one clause affects another, I find myself pausing to reconsider it with a level of deliberate curiosity that is always valuable.

Of course, when it comes to technology, new tools are second nature to younger brokers. Relationships rule in our industry, but technology is boosting our efficiency like no other time in history. A younger broker’s enthusiasm for innovation is a critical reason firms should always continue investing in their talent.

Fresh Perspectives Meet Deal Fundamentals

WRA’s investment in the next generation of brokers happens daily, with mentorship and leadership training woven into our culture. We each create annual business plans, and are provided follow-up support on those goals by senior leadership throughout the year. As a still-rising broker myself, I’ve found this engagement to be not only rare but incredibly helpful. The impact is multiplied exponentially for the brokers rising behind me.

WRA also provides all of its brokers with full-day leadership seminars, including work-style assessments that help us understand how different personalities communicate. This was eye-opening for me. Whether I’m collaborating with colleagues or negotiating a deal, understanding communication styles makes every interaction more effective.

For emerging brokers, WRA provides a six-month development program, combining in-person and virtual learning through an outside expert. This gives us a valuable springboard for ongoing professional development, which WRA further promotes by encouraging conference attendance and industry organization memberships. The goal: to broaden our perspectives and strengthen the entire firm.

Megan Adamic

Senior Associate
Favorite Tech Tool?
ReSquared. It helps efficiently reach mom-and-pop and local tenants.
Favorite Emerging Trend?
How fitness concepts enter the market. They target similar audiences but with unique approaches to site selection.
Cool Recent Win?
Traveling to meet emerging brands in person. It’s the best way to strengthen the client connection and gain a deeper understanding of their concepts.

Evolve or Fall Behind

Technology and markets change rapidly, and the danger of becoming complacent is real.

In our field, it’s also true that no two deals are identical. That diversity is what attracts many of us to this industry, and makes senior brokers vital resources for navigating these waters. In the same way, younger brokers provide insight into change. They often live the shopping, dining and social media habits that directly reflect where retail is going.

WRA values both perspectives, and intentionally builds its team for tradition and innovation. I’m proud to be a part of a firm that is responsibly shaping next-gen professionals, and our industry, for the decades ahead. The balance positions us all for success.