Mr. Alastair Barnes is the Advisor, Capital Raiser, and Investor in Jones Lang LaSalle (JLL).Mr. Alastair Barnes joins other leading Bestselling Authors, International Speakers & Advisor, Capital Raiser, and Investor taking part in our Leader Roundtable Interview Series. The DotCom Magazine editorial team is delighted to have Mr. Alastair join us for our Leader Roundtable Interview.
Let us start by telling us about your business
JLL is a leading professional services firm that specializes in real estate and investment management. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of over 93,000 as of December 31, 2019. We provide services for a broad range of clients who represent a wide variety of industries and are based in markets throughout the world. Our clients vary greatly in size and include for-profit and not-for-profit entities, public-private partnerships and governmental entities looking to outsource real estate services. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities.
A greater overview of my current responsibilities:
Financial and market analysis, and preparing offering memorandums and marketing materials for permanent, bridge, acquisition, and construction financings, as well as joint venture equity
Develop client prospect lists to increase business development opportunities and originate new leads
Assist in the negotiations of term sheets between institutional sponsors and debt and equity capital providers
Manage transaction marketing and outreach, as well as due diligence, legal documentation, and closings on behalf of institutional clients.
Q: Please tell us the one thing that separates your business from the competition.
JLL is the world leader in real estate services, powered by an entrepreneurial spirit. The company wants the most ambitious clients to work with, and the most ambitious people to work for them. It’s as simple as that. JLL buys, builds, occupies, and invests in a variety of assets including industrial, commercial, retail, residential and hotel real estate. From tech startups to global firms, clients span industries including banking, energy, healthcare, law, life sciences, manufacturing, and technology.
Q: And to finish this section, please tell us what the one major key to your company’s success is?
The core values of the firm shape the culture and define the company. They underscore the commitment to clients, to communities and to each other, and provide direction for everything the company does. The firm strongly believes in teamwork, ethics and excellence.
Take a leap of faith
Be a businessman and a real estate investor. Have a business or career that provides cash flow, which you can diversify into part time real estate investing. You may not be successful on the first deal, but you will lean how to structure a deal, how to read leases and contracts, find tradesmen, and build a team etc. and you will get it right through mistakes and experience. It’s better to make mistakes when you’re risking a smaller amount of capital.
Chase the deal, not your budget: If you find a deal that’s attractive, you can use your network to syndicate equity and find outside investors. Real estate deals work at scale. The bigger project you build the more economies of scale you will receive, and it’s just the same with property management. The more units you manage the less you’ll have to fork out for a property manager.
Trial by fire: The only way you learn how to develop or invest is by doing it. Reading books, watching HGTV, or listening to countless seminars will not help you. You need to get your hands wet and make mistakes.
Play the long game: Holding assets for a long period of time is the most tax effective way to build wealth. If you are looking to develop or flip, make sure you understand how to 1031 an investment and defer taxes. Shelter is a basic need, and dirt, in and around metro areas, is a finite resource, and demand is constantly increasing.
Have a plan:
Do not embark on a development or investment without having a plan. To develop a residential property, you need the follow team:
Once you have a team and strategy in place you need to go through the following process:
Q: Please tell us how you make sure new and existing JLL customers continue to view the firm as the market leader and best solution?
We are driven to shape the future of real estate for a better world. We do this by addressing the needs of real estate owners, occupiers and investors, leveraging our deep real estate expertise and experience to provide clients with a full range of services on a local, regional and global scale.
Q: Please tell us the one thing that separates JLL from the competition?
A global platform spanning The Americas, EMEA, and Asia Pacific. We are the leaders within the services we offer including: Leasing, Property & Facilities management, Advisory, Capital Markets, and Project & Development Services.
Q: And to finish this section, please tell us what the one major key to JLL’s success is?
Q: For our readers just starting to build a company, what advice can you give entrepreneurs just starting out with a new venture?
Q: In today’s fast changing business environment, how do you stay abreast of things?
Concentrate on the controllables and continue to be flexible and adapt as the surrounding environment evolves and changes. It’s important to block out the noise and news, and focus on long-term goals
Q: For entrepreneurs seeking to build a business as successful as yours, what big piece of advice can you give them when times get a little challenging?
Stay cool, calm, and collective, and make sure you invest with a significant margin of safety
Q: What is your “Why”? In one sentence, why do you get up in the morning?
Frankly, it is because my dogs jump up on the bed and demand we go and play fetch.
Q: In one sentence, what is the most important thing one has to do to be a great leader?
A great leader has to be a player coach. It is important for a leader to live, breathe, and relate with employees on a daily basis. A leader needs to understand the struggles and be on the field in order to gain respect within.
Q: In one sentence, describe how important your customers are to your business?
Without customers, you don’t have a business
Q: In one sentence, describe how important your customers are to JLL’s business?
Without clients and customers, JLL does not exist. We strive to meet the needs and obligations of our clients on a daily basis.
Q: In one sentence, describe a positive way that technology can make the world a better place?
The adoption of technology across all industries and geographies has been fast tracked and pulled forward throughout 2020. The number of citizens who now have paid online subscription programs has grown tremendously, and the number of employees who have adopted remote conferencing platforms for their preferred means of communication continues to increase. The ability to adapt, evolve and show a willingness to be flexible is more important than ever, and for commercial real estate, this pandemic could be the long-awaited catalyst for change.
Q: In one sentence, describe how you keep your sanity in a competitive business environment?
Trust your value proposition and relationships, and remember to disconnect and enjoy time with your friends, family and loved ones.
Mr. Alastair Barnes, thank you so much for participating in the DotCom Magazine Leader Roundtable Interview Series.