Today we’d like to introduce you to James Brockway.
So, before we jump into specific questions about the business, why don’t you give us some details about you and your story.
I began my professional career in Houston immediately after graduating with a degree in Finance and Accounting from Stephen F. Austin State University in Nacogdoches, Texas. I went to work in public accounting, auditing banks and commercial real estate firms and during this time, I earned my CPA license, After three years in public accounting, I moved on to work for Hines Interests, a Houston-based international commercial real estate development and property management firm. After years at Hines, I became controller for a multi-family investment and property management firm, followed by working as CFO with a shopping center developer and property manager. Along the way, in 1992, I became a real estate agent (and broker in 1994). I began representing investors buying and selling apartments, shopping centers, land, churches, warehouses, homes, and other properties. Brockway Realty, LLC was formed in 2004 and has grown to become a firm with 23 agents specializing in residential and commercial real estate sales (under Brockway Commercial).
Has it been a smooth road?
Early on, I ran Brockway Realty while working as an employee for others. It was a two-edged sword because the more real estate I, the more hours I would work after my “day job” and I had to keep clients happy that might want to see real estate during the day when I was at my day job.
Another challenge, is that I was self taught for the most part, relying on what I learned while working for others in real estate development and property management and attempting to apply these concepts to my personal brokerage.
So let’s switch gears a bit and go into the Brockway Realty, LLC story. Tell us more about the business.
We specialize in commercial and residential business. I personally am known for selling commercial properties, but our residential business is fairly substantial and most of our agents sell homes. My wife Penny, works on the residential side and is well respected in the industry.
I am most proud of our “value ad”, in that we are always learning, so, that we stand apart compared to others in the business. I work hard at knowing everything about the business and staying on top of current issues. I occasionally teach classes at a statewide real estate school and I give speeches and presentations to local trade groups and Chamber of Commerce members.
How do you think the industry will change over the next decade?
I see continued technology automation and competition from national discount brokerage firms as our most significant challenges. Many people in the industry see advancing technology as a threat to our industry such that real estate agents won’t be needed. Although, I recognize the potential threat, the value proposition for a good agent still overrides any technology that can simply “paint by number” a transaction. For instance, if you are buying a shopping center, there are too many variables to be replicated by a program.
Regarding discount brokerages, I believe you get what you pay for. This is not intended to discredit these firms but if a discount brokerage charges a fraction of what a traditional broker may charge, logic would dictate that they hold their costs down in order to accept a discounted commission. In many companies, labor costs are the most significant cost, so they might be hiring more inexperience low-cost agents and providing minimal training. Something has to give. You can’t stay in business charging below market fees while reinvesting substantial amounts of money in labor and training.
Contact Info:
- Address: 550 N. Egret Bay Blvd, Ste 110, League City, TX 77573
- Website: www.brockwayrealty.com, www.brockwaycommercial.com
- Phone: 281-684-6482
- Email: jbrockway@brockwayrealty.com
- Facebook: https://www.facebook.com/BrockwayRealtyLLC/, https://www.facebook.com/brockwaycommercial/
- Twitter: https://twitter.com/@brockwayrealty
- Yelp: https://www.yelp.com/biz/brockway-realty-llc-league-city
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