Guest: Zach Kosturos Guest Bio: Zach Kosturos is the President and Owner of Prime Locations, Inc., a full service commercial real estate company and Upsyde Ventures, a real estate private equity company. His companies develop, sell, lease and manage office, retail, industrial, multifamily, and self-storage investments. Zach’s commercial real estate knowledge and experience are vast as a result of his involvement in all aspects of the industry, including development, acquisition, disposition, financing, leasing, maintenance, management and most importantly, ownership. Key Points: Career Journey: From Baseball to Real Estate Entrepreneur · Played baseball on a scholarship with aspirations to turn professional, but shifted focus to sales and communication skills after realizing the MLB path wasn’t viable. · Developed a passion for investing after reading about Warren Buffett, leading to a deep dive into value investing. · Entered real estate in 2008 during the economic downturn, buying out partners to grow Prime Locations, and later launched Upside Ventures, a real estate private equity firm. Business Growth & Ownership: · Prime Locations has grown five times its revenue since Zach took over. · Upside Ventures currently owns $75 million worth of commercial property. · Ownership is central to Zach’s success, as it allows him to understand both the investor and client’s perspectives in real estate. Importance of Ownership: · Zach emphasizes that ownership, particularly in real estate, is critical because it gives insight into the challenges owners face, making it easier to serve clients effectively. · Learning through experience and mentorship is crucial. Books gave him theoretical knowledge, but real-world exposure to owning and managing investments accelerated his growth. Advice to Young Entrepreneurs: · Zach advises aspiring entrepreneurs to work within their circle of competence and avoid dabbling in too many areas. · Believing in yourself, putting in the effort, and having the courage to take risks are key factors for success. · His analogy to baseball emphasizes the importance of preparation and practice before taking big risks. Sales & Mentorship: · Zach sees salesmanship as the ability to communicate and build relationships, not just close deals. He trains his team to be trusted advisors. · Mentorship plays a huge role in developing sales skills, as successful brokers typically have mentors guiding them. Building Value in Real Estate: · New brokers add value by being persistent without being overly aggressive, demonstrating their commitment to potential clients. · Prime Locations’ team uses direct mail campaigns to add value by providing valuable, exclusive information that can't be found online, positioning them as trusted advisors. Results of Direct Mail Campaigns: · Direct mail campaigns have generated significant returns, with one campaign bringing in $400,000 in commissions for an $8,000 investment. · A recent direct mail effort led to a $19 million acquisition of properties, showcasing the power of persistence and effective marketing. Leveraging Direct Mail: · Direct mail is less cluttered than email, making it an effective tool in real estate marketing. · Zach’s approach to direct mail is unique, using high-quality newsletters with useful information, differentiating them from the typical marketing materials. Guest Links: https://www.linkedin.com/in/zkosturos/ About Salesology®: Conversations with Sales Leaders Download your free gift, The Salesology® Vault. The vault is packed full of free gifts from sales leaders, sales experts, marketing gurus and revenue generation experts. Download your free gift, 81 Tools to Grow Your Sales & Your Business Faster, More Easily & More Profitably. Save hours of work tracking down the right prospecting and sales resources and/or digital tools that every business owner and salesperson needs. If you are a business owner or sales manager with an underperforming sales team, let’s talk. Click here to schedule a time. Please, subscribe to Salesology®: Conversations with Sales Leaders so that you don't miss a single episode, and while you're at it, won't you take a moment to write a short review and rate our show? It would be greatly appreciated! To learn more about our previous guests, listen to past episodes, and get to know your host, go to https://podcast.gosalesology.com/ and connect on LinkedIn and follow us on Facebook and Instagram and check out our website at https://gosalesology.com/.
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