In the News
October 01, 2015
Kidder Mathews' growth across the West continues, this time in Phoenix
Puget Sound Business JournalSeattle-based commercial real estate brokerage firm Kidder Mathews has opened an office in Phoenix.
The move comes 10 months after Kidder, the Puget Sound region's biggest real estate firm based on the number of brokers, launched an expansion in California,where the company opened a San Diego office. It's also planning to open a Sacramento office in the coming weeks. Kidder had previously established offices in the Bay Area.
Kidder has hired 11 industrial, retail and office brokers, plus marketing support staff, in Phoenix, where the company sees "tremendous opportunity," Kidder CEO Jeff Lyon said in a press release.
Kidder Mathews has more than 500 brokers and staff in 11 offices, making it one of the West Coast's largest independently owned commercial real estate firms. The company's expansion comes at a time of tremendous consolidation in the industry as national and global brokerages buy up local firms.
"For the most part the independents have gone away," Lyon said in an interview with the Puget Sound Business Journal late last year. "We have no intention of being absorbed by anybody... We get sniffed out every now and then, but I think at the end of the day [larger brokerages] don't understand our structure."
That includes both the company's commission structure and its non-traditional streamlined management structure, both of which are in place to land top-producing brokers. Kidder says its commission splits are at least 20 percent more favorable to its brokers than other company's. In addition, it offers the opportunity for every employee to become a company shareholder.
For the full story, go to Puget Sound Business Journal.
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