The FORT Podcast: Sarah LanCarte
Sarah LanCarte is the founder of LanCarte Commercial, a commercial real estate company specializing in tenant representation, leasing, and sales and acquisitions for properties in DFW. On this episode, Chris and Sarah talk about the early days of her career, her mentors, working with Fort and ultimately what led her to founding LanCarte Commercial. They also talk about the current state of commercial real estate in DFW in the wake of COVID-19 and trends she predicts going forward. Enjoy!
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01:49 — Sarah’s Background and Starting LanCarte Commercial
08:18 — Did cold calling come naturally to you or was it uncomfortable at first?
09:56 — Was there a point in time where you thought “Okay, I’ve arrived in this industry.”?
12:08 — The First Deal Sarah Closed
12:43 — When did you start to become self sufficient at finding and doing deals?
14:53 — How Chris started working with Sarah and how she transitioned from the broker world into principal
18:15 — What was the journey like in starting your own business?
21:08 — How do you split your time between running the business and being a broker?
23:20 — What do you say to young brokers to prepare them for both the exciting and frustrating part of CRE?
24:54 — What is the difference between a great broker and a bad one?
28:21 — How is LanCarte Commercial’s team different than other companies in the industry?
29:50 — What was your experience as a small business owner during the very early days of COVID-19?
33:30 — What are you observing in the Fort Worth market as we come out of COVID-19?
37:33 — Do you know of any big office tenants that might be moving into Fort Worth for the first time?
38:50 — Do you have any predictions on how places like Shopping Malls and Big Box Retail could be converted?
40:48 — What are your thoughts on Multi-Story Industrial Innovation in DFW?
42:53 — Is the demand there for all the Spec being built around DFW?
44:38 — How far in advance are tenants looking to lease in the Class B Space?
47:02 — Have you seen an upgrade with places like Amazon in their infill as they move to delivery methods like Sprinter vans?
48:08 — What are your 5-year goals for LanCarte Commercial?
48:52 — Why is CREW important and why should more females in the industry be a part of it?
50:07 — How can people get in touch with you?
Episode Summary
One of the foremost aspects Sarah touched upon was the significance of understanding market dynamics. Real estate is cyclical, and recognizing these cycles is paramount. Sarah’s emphasis on recognizing when to capitalize on opportunities and when to tread cautiously underscores the importance of adaptability in an ever-changing market.
The realm of property management was another focal point of the discussion. Sarah highlighted the essence of tenant satisfaction, stating it as a cornerstone for successful property management. From maintaining properties to fostering open communication lines with tenants, ensuring tenant satisfaction not only aids retention but also builds trust – a vital component in the real estate business.
As industries evolve, so does real estate. The role of technology in streamlining operations, from tenant management to property maintenance, is undeniable. Sarah’s insights on the integration of technology in real estate processes emphasize the industry’s shift towards efficiency and innovation.
The tenant-landlord relationship, often overlooked, is pivotal. Sarah’s emphasis on building trust, understanding tenant needs, and ensuring clear communication channels is a testament to her approach towards fostering long-term business relationships.
Acquisition strategies were also brought to light. Sarah’s approach, rooted in comprehensive research and a clear vision, sheds light on the myriad factors considered during property acquisition. From the potential growth of a property to its location, due diligence remains at the forefront.
A noteworthy segment of the discussion revolved around the urban and suburban real estate landscape. With the rise in remote work and changing dynamics, the demand patterns for real estate are shifting. Sarah’s take on the increasing allure of suburban properties and the factors driving this trend provided a fresh perspective on the evolving demands.
An industry as vast as real estate is not without its challenges. Sarah candidly discussed the hurdles faced by women in the industry. From her personal experiences to the broader challenges, her emphasis on mentorship and networking stood out, highlighting the strides made towards fostering gender equality.
Looking ahead, sustainability in real estate is more than just a trend; it’s a necessity. Sarah’s views on sustainable properties, the increasing demand for green initiatives, and the responsibility of developers in this realm were both enlightening and forward-thinking.
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