A little over a decade ago, Brett McDermott joined his brother Aaron in founding Latitude Commercial. He’d had some experience in sales and working with small businesses as an account manager for a large corporation in Chicago, but at the time, real estate was entirely new to him.
“Aaron had been doing commercial real estate for a national firm and decided he wanted to start his own company out here in the area,” McDermott said. “I was fresh out of college, not really loving what I was doing at the time so I figured ‘why not,’ and jumped aboard. It was really just us two and the office manager at the time back in 2009 when the economy had really slowed down, it seemed like a good time to learn the industry.”
McDermott mentored behind his brother and worked to learn the ins and outs of the industry while doing what he could to help grow the business during the recession.
“I learned as much as I could while times were tough, I think we all thought it’d only last a year or two but it went on until 2013 or 2014,” he said. “I just dialed and made cold-calls, learned how to call and talk to people. I think it really helped establish some of the relationships that I have today, just hammering the streets and getting to know people and the area in terms of real estate.”
Many of the clients the McDermott brothers established back in those days remain key partners to this day, and are a part of why McDermott sees relationship building as the most essential skill he, or any broker, possesses.
“Loyalty is something earned in this business,” he said. “You’re making decisions and helping your clients develop properties that are their livelihoods – it’s a deep dive into things.”
McDermott’s current official title is Co-Founder/Senior Vice President, and his core responsibility is building and maintaining Latitude Commercial’s retail and investment property portfolio.
“Something I really enjoy about retail is the excitement that comes with bringing a new business to the area,” he said. “Whether it be a new restaurant or store that’s bringing new jobs. I think people in the community get more excited about retail properties than things like offices because it’s something new, or maybe it’s a restaurant they’re familiar with but have never been able to eat around here.”
As one of Latitude’s co-founders, McDermott takes a lot of pride in the company’s growth and in particular, their reputation for being active and passionate about their work.
“We’re pounding the streets, not just planting a sign in front of the property and hoping somebody calls us,” he said. “We analyze the property, what kind of uses we’re missing, who we could call. We’re not just waiting for something to fall in our laps. We’re ambitious, we want our brokers making cold-calls and getting out there in the community to help the area continue to grow.”
McDermott is a die-hard Cubs fan, but likes all of the Chicago sports teams. He also enjoys spending as much time outside as he can, ideally with his family and on a golf course.
To learn more about Latitude Commercial, visit latitudeco.com.