In this week’s MWM Broker Spotlight, Matt Ledom, CCIM, senior associate director with MMG Real Estate Advisors, shares his experience, passion and drive since his start in the Kansas City CRE environment.
Ledom began his career in the investment sales industry in the summer of 2013 working as a seller representative for Block Real Estate Services. In 2021, Ledom joined MMG Real Estate Advisors with a focus on multifamily investment sales and advising clients in a way that maximizes their investment returns through strategic planning and execution.
MWM: What initially sparked your interest in becoming a commercial real estate broker?
Ledom: My father is in the commercial real estate business (developer and owner) and helped push me in the brokerage direction – the best way to learn the business early on is through brokerage. I also enjoy the competitive environment and the mentality of being in charge of your future. I appreciate that it’s a high-risk, high-reward industry.
MWM: What do you enjoy most about being a broker?
Ledom: We take a lot of pride in representing our clients in the marketplace. They trust and believe we will execute at an extremely high level. We consistently close at, or above, the top end of our valuations!
I love the fast-paced nature of the business. At times, we uncover opportunities and only have a day or two to assemble our thoughts and valuations together. There’s an adrenaline rush to start, followed by satisfaction when our team turns around detailed information so quickly and effectively.
My favorite part is having a pulse on what’s going on around the city in real-time, as well as being part of bringing in new capital that plays a role in upgrading the landscape of our marketplace.
MWM: Can you share a highlight of your goals? Where do you see yourself in the next 5-10 years?
Ledom: We are building something special at MMG. We have an extremely team-centric approach and a combination of local, regional and national reach that allows us to efficiently and effectively assist our clients in moving their capital all around the country. We want to grow our team and increase our production levels individually and as a whole company.
My personal goals are aligned with our team goals at MMG. Excellence in our executions for clients, combined with consistent company growth and continued improvement through hard work and perseverance.
MWM: Can you offer any tips on how you stay on track with your goals and how to be a successful broker?
Ledom: I am fortunate to have been around some very successful commercial real estate executives throughout my career. Some of my mentors include my Father, Mark Ledom; Michael Sullivan with MMG; Alex Blagojevich with MMG; Bucky Brooks with Copaken-Brooks; Lindsay Olsen with MITC; Ken Block with BRES; and Aaron Mesmer-BRES.
Setting goals is extremely important. Having a plan to execute on those goals is equally important. When I look back over my career to date, focusing on what you CAN do, not what you CAN’T do, and utilizing your best skillsets to accomplish pre-set goals can take you a long way.
Ledom graduated from the University of Cincinnati in 2013 with a double-major in Real Estate and Operations Management. He also played on the golf team on a scholarship while attending college.
To reach Matt Ledom, you may email him at matt.ledom@mmgrea.com.
To nominate a MWM Broker Spotlight candidate, please email lisa@metrowiremedia.com.
More than 170 guests attended MWM's 2017 Multi-Family Summit on Oct. 12 for breakfast, premium networking and a panel discussion moderated by Hunt Midwest's Brenner Holland.
Here's a snapshot of panelist insights:
“We are in a vibrant stage in my 25-year career. One of the leading indicators is the number of calls I get from lenders about sites from developers outside Kansas City, so that tells us that folks are either pooping out in some other markets and trying to come here, or they’re moving from different food groups into multi-family." -Jim Thomas, Cityscape Residential
“I think what has happened in Denver is similar to what has happened to California, where the prices have gotten astronomical and it’s unaffordable for virtually anybody at any income level... Quite honestly, I see Kansas City as the next Denver as people keep looking for more affordable places to live and work. We are certainly very well priced in the market for exceptional value.” -Aaron Rumple, Yaeger Architecture
“Boomers want larger units and more bonus space or an extra den area. Storage is very important to them. Millennials, on the other hand, are more concerned about walkability. They value space a little less and they place more value on amenities and the social aspect of amenities spaces in technology.” -Justin Duff, VanTrust Real Estate
“The amenity stuff keeps getting better and better, particularly with pools and clubhouses. On the technology side, we’re adding USB outlets inside the units and trying to accommodate what’s going to be standard technology as it grows. We’ve built penthouse units for a couple of projects. Those are the first to go, and usually the Boomers get them." -Aaron Neighbors, Neighbors Construction
“The new stuff is always going to fill up, and the reason is that those offer the best property and best amenities. It’s where people want to live. So we are building in places where the jobs are going, and then it’s not a question of ‘Will the new stuff fill up?’ It’s a matter of, ‘At what number will it fill up? Will you meet the pro forma, and will you hit your rents?' " -Aaron Mesmer, Block Real Estate Services
“Paramount to any development is having the best site selection-- access to highways, jobs and amenities-- because when people move into an apartment anymore, there are so many good options out there, you really have to have that ‘wow’ factor. So you need to be able to have people move into something where there’s a sense of place and they have to feel that they have 'arrived' somewhere.” -Mike McKeen, EPC Properties
“I think Kansas City-- the municipality-- really wants to expand opportunities for economic diversity. A lot of projects that we are seeing in the Historic Northeast area are all mixed-income products, so you are divvying up affordable versus market rate and really bringing more diversity into the neighborhood.” -Rachel Treanor, 4Sight Construction Group
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