With a ratio of four million employees to two million companies, the commercial real estate industry in the US is highly bifurcated. Some of the larger firms have over two million employees though, meaning there are a considerable amount of companies that only have a staff count of one or two. Hiring full-time specialist staff in such a climate can be difficult for the smaller firms, but our guest for today joins us to speak about the work he is doing to remove that pain point. Mason Fiascone is the head of sales and marketing at Bullpen, an online marketplace that connects smaller real estate firms to commission-based analysts. Mason covers Bullpen’s mission and its distinctiveness compared with more general virtual assistant platforms. From there, he talks about the different areas of real estate underwriting that Bullpen analysts do, the most common phases in deals they work on, and how the company goes about vetting new analysts before including them in the platform. We also talk to Mason about how Bullpen manages pricing and contract types, before closing off hearing about his biggest life lessons and tips for having a more successful business. At a time like this, a platform like Mason’s could bring a lot of value to both analysts and firms, so tune in to find out more.
Key Points From This Episode:
- How deal flow varies but hiring is fixed, making smaller firms vulnerable.
- The mission at Bullpen; connecting smaller real estate firms to commission-based analysts.
- Underwriting services Bullpen analysts could do in the multifamily space.
- Differences between Bullpen and virtual assistant platforms; specificity and specialist talent.
- Backgrounds and skillsets of Bullpen analysts and how Bullpen helps them work freelance.
- How Bullpen handles vetting and quality control by conducting rigorous skills assessments.
- Pricing structures on the Bullpen platform and their relation to skill level or job difficulty.
- How Bullpen analysts handle proprietary information by signing contracts.
- Different contract types offered by Bullpen and the most commonly used ones.
- Typical stages in deal timelines that Bullpen analysts tend to get hired to underwrite.
- How many teams don’t know they need an analyst despite the value they can bring.
- Mason’s biggest mistake in real estate that taught him the value of focusing.
- The number one thing Mason believes is important for growing his life.
“It’s expensive to hire someone if you’re a one-person shop or even a five-person shop.” — Mason Fiascone [0:02:48]
“Bullpen is a marketplace that tries to flip hiring on its head by connecting employers with quality talent on an hourly, a part-time, or full-time basis.” — Mason Fiascone [0:03:14]
“As a team, you oftentimes aren’t aware that you have the need for something like outsourced expertise.” — Mason Fiascone [0:15:04]
Links Mentioned in Today’s Episode: