In a recent interview with The Real Deal, Miles Nadal delves into the origins of the Partnership Principles that have shaped every Peerage business – especially Peerage Realty Partners. He explain why these rules frame the decisions and the direction of Peerage companies.
Peerage Capital Group’s Founder, Miles Nadal, Reveals the Secrets to Building Successful Partnerships in Real Estate, Investment, and Wealth Management
In an exclusive video from The Real Deal, Peerage Capital Group Founder and Executive Chairman Miles Nadal explains how his firm has built its impressive portfolio of partnerships across the real estate, investment, and wealth management industries. Its largest operation, by far, is Peerage Realty Partners, a North American network of entrepreneurial leaders in the residential real estate sector – and the largest global franchisee of Sotheby’s International Realty.
“The most important thing is the cultural fit,” says Nadal, who emphasizes the need for stability and symbiosis when building out a productive partnership in the high-risk, high-reward spaces in which his firm thrives. “You have to ensure you have aligned interests and aligned values.” This philosophy dates back to the early days of independent brokerages, which were founded by “iconic leaders” and thrived on partnerships before financial sponsors entered the space and “consolidated the industry,” eradicating some of the “entrepreneurial DNA” that Peerage is keeping alive.
One of Peerage’s most successful partnerships is with Sotheby’s International Realty. For Nadal, Sotheby’s is the ideal partner for Peerage because the two firms both believe that investing in passion pays off. “We invest in passion, in the people we do business with, in the initiatives we undertake,” says Nadal. “We feel very privileged, because luxury residential real estate is an investment that people make with their heart.”
Another key element of Peerage’s success, according to Nadal, is its ability to take advantage of opportunity when the market is down and regroup when the market is up. “As Warren Buffett said, “We believe you should be greedy when others are fearful and fearful when others are greedy,” says Nadal. “We have been exceedingly aggressive in the last 36 months, and now we are more in the digestion and pure organic growth business.” He is clear, however, that when it comes to future acquisitions, his view is “never say never.”
Click here and visit Peerage Capital Group’s website to learn more about how their partnerships set them apart from the competition.
Source: The Real Deal