While it may be that social responsibility is not the first thing we think of when considering keys to a CRE company’s success, for SIORs, it’s clearly an important ingredient in their formula for building and growing their business.
“I think brand perception is high on our list — and socially responsible actions enhance our brand,” says Ra’eesa Motala, SIOR, president of Evoke Partners in Chicago. “When we’re actively involved it makes people feel good about doing business with us.”
“We are taking a non-performing, environmentally challenged asset and transforming it into a productive asset benefitting many people,” shares Eddie Adler, an SIOR Developer Affiliate and director of business development with Cantera Development Group, LLC, also based in Chicago. (Canterra purchases, and then remediates, Brownfield [environmentally challenged properties] nationwide — followed by vertical development.) “Our clients are happy with us, as there are few firms who participate in this niche, and from the business side, we are relieving them of long-term liability.”
“When I started the company, we put social responsibility under four different categories: Be ethical in the way you do business; give back to the community; be socially, environmentally responsible; and be economically responsible,” says Tim Vi Tran, SIOR, president of The Ivy Group in Fremont, Calif. “We instilled that in the company.” In fact, says Tran, he has the same expectations for vendors as he does for his agents. “We do not go out and hire a company that does the opposite,” he asserts.
“Spring4 has adopted corporate social responsibility (CSR) policies that promote diversity, equality, and inclusion within its workforce and business practices,” says Christopher Aquilina, SIOR, senior director of the U.K.-based real estate consultancy. “By prioritizing ethical considerations and the well-being of communities in our projects, Spring4 can contribute to broader societal goals while enhancing our corporate reputation and stakeholder trust.”
“Our commitment to social responsibility is deeply intertwined with our business operations and our core values,” adds Andy Westby, SIOR , president & managing broker of Goldmark Commercial Real Estate, Inc., Fargo, N.D.
CREATIVE PROGRAMS
SIORs approach their commitment to CSR policies in a variety of ways. Some, like Westby, actually develop specific initiatives within their companies to address key issues. Goldmark recently launched an innovative program where, using a fixed percentage of the brokerage’s income from every commission, it matches donations its clients make to their chosen charities, dollar for dollar, up to a set amount per individual donor or client. “Clients can participate by visiting a designated online portal, selecting a local charity of their choice, and making a donation,” Westby explains. “We then match these donations up to a certain dollar amount, ensuring that our support reaches as many charities as possible through our clients’ thoughtful contributions.”
Through this initiative, he adds, “We not only double the impact of their generosity, but also foster a spirit of community involvement and shared purpose.”
Canterra Development is pursuing its commitment through a very specific real estate niche. “We take properties that pose a health risk to the public and nullify that,” says Adler. “We create temporary as well as permanent jobs and get a property back on the tax rolls. This not only helps people in the community, but it also helps the community itself.”
Be ethical in the way you do business; give back to the community; be socially, environmentally responsible; and be economically responsible.
That is not to say these are the only ways that these SIORs and their companies show their commitment to social responsibility. For example, Canterra also works with the communities they develop in with job fairs, with the intention of making people in the community aware of opportunities.
POSSIBILITIES ARE ENDLESS
There is virtually no limit to the types or numbers of activities CRE companies can become involved in. For example, says Aquilina, Spring4 has chosen a mental health charity, Campaign Against Living Miserably, as a partner. Each year it undertakes a company-wide sponsored challenge that not only acts as a fundraiser but also raises awareness of the charity and its activities. (A recent event included walking in one continuous 24-hour period a 100km stretch of the iconic River Thames.)
Spring4 also integrates sustainable practices and community-focused initiatives into its operations and projects. This includes advocating for and implementing green building standards, supporting local economic development, and engaging in partnerships with nonprofits.
Aquilina has also mentored students from both his undergraduate and graduate universities, including offering internships to some mentees. “This sends a message to clients that we are genuinely engaged with the community to bring on the next generation of real estate professionals,” he explains.
Tran shares that he has been involved with the local Rotary Club for 15-20 years. “I always donate — it’s good for business, the environment, and the economy,” he explains.
Motala is also involved in a wide number of CSR programs — for example, corporate giving. “We will donate a portion of our profits to organizations, and/or match [donations] to eligible non-profits, externally or internally,” she says.
Environmental issues are very important, she continues. “We try to meet a more than net zero baseline internally, but also with an energy company tied to our real estate company, we offer programs to help clients with sustainability issues,” she shares.
Within the workplace, she values a “massive focus” on DEI, with an almost 50-50 balance in gender with new hires — as well as supporting under-represented groups.
For example, she recently attended a fundraiser for an organization involved with a client — under-represented school-aged children within the sports and education sector. “We not only volunteer but also contribute financially,” she adds. What’s more, Motala chairs a program called ULI REDI, a training and mentorship program for people of color and for women.
She adds as a final point that LGBTQIA+ issues are “very under-addressed,” especially when it comes to discriminatory hiring practices. “It’s such a missed opportunity for an organization to have a killer rock star at the table,” she says. Part of her legacy by the time she leaves is that this is no longer the case. “When we hire, we hire the person and the skill set, and if they are a good human being,” she declares. Don’t shut out a whole incoming class of really talented and smart individuals who also grew up in a very high-tech generation and can make this industry better and smarter.”
In today’s socially conscious landscape, companies choose those they align with in values.
CLIENTS RESPOND POSITIVELY
Not only are SIORs benefitting society through their CSR activities, but they say they have also had a positive impact on client relationships. “It provides customer loyalty; we both engage in initiatives we’re passionate about,” says Motala. She also says it provides a competitive advantage — “especially in a business where differentiation is challenging, a company may choose one [brokerage] over another based on social responsibility when there are equal services.” In general, she summarizes, it attracts new business. “In today’s socially conscious landscape, companies choose those they align with in values,” she concludes.
“When you’re involved with the community, it helps build reputation and brand awareness,” adds Tran. “When people see you volunteer or make donations, they know you’re not just there to make money — you’re giving back to the community.”
For Adler, the evidence is clear that the niche he’s chosen is paying off. “By doing this, we are in expansion mode,” he asserts, “And being a part of SIOR will greatly benefit us.”
“The response from our clients has been very positive,” says Westby. “This initiative has helped us strengthen existing relationships and build new ones. This commitment to social responsibility resonates deeply with current and prospective clients who are looking to engage with businesses that reflect their values.”
In summary, Westby says, “Our program is more than just a charitable initiative; it is a critical component of our strategic approach to business, emphasizing people, communities, and shared values. This approach is one more factor that helps to drive our success and leadership in the local commercial real estate industry.”
This article was sponsored by the SIOR Foundation - Promoting and sponsoring initiatives that educate, enhance, and expand the commercial real estate community. The SIOR Foundation is a 501(c)(3) not-forprofit organization. All contributions are tax deductible to the extent of the law.
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