Barry Saywitz, the President of The Saywitz Company and Managing Partner of Barry Saywitz Properties, is a prominent figure in the commercial real estate industry, headquartered in Newport Beach, California. His journey into this field began in October 1989, in Orange County, California.
Before his career in real estate, Barry worked as a Tennis and Golf Pro at Club Med in the Bahamas. While this job offered an enjoyable lifestyle, it lacked financial rewards. This led Barry to return to California with aspirations of entering the commercial real estate sector. However, his timing coincided with the commercial real estate market crash in November 1989.
Entering a volatile market with no prior experience in the industry or business was a formidable challenge for Barry. During this period, the industry was markedly different from today. There was no internet, cell phones were a novelty, and there was no multiple listing service to facilitate the sharing or accessing of property information. Business was conducted through personal networks, word of mouth, and direct property inspections.
With only a few thousand dollars in the bank, Barry undertook all necessary tasks himself—ironing his clothes, washing his car, preparing his lunch, and spending weekends driving around neighborhoods to understand the market. His employer at the time offered no formal training or mentorship, which made the learning curve even steeper.
From these early experiences, Barry learned the critical importance of mentorship and guidance in navigating the complexities of the real estate market. He realized that having an experienced professional to provide direction, offer protection during challenging circumstances, and assist in closing transactions is invaluable until one can independently manage these tasks.
The Gritty Climb
Barry’s journey is marked by numerous challenges and a steep learning curve. He struggled to navigate the commercial real estate landscape, making many mistakes and losing several deals due to his inexperience. Many of his clients mistakenly believed he was older than his 23 years. It was improbable that a CEO would entrust a multi-million-dollar office lease to a recent college graduate. Nevertheless, through perseverance and hard work, Barry built a solid client base and closed deals in a challenging market.
Unlike many brokers who relied on existing family or personal relationships and waited for business to come to them, Barry had no such network. He developed an aggressive cold calling and marketing strategy, teaching himself to type and use a computer. His daily routine involved canvassing and prospecting in the mornings, cold calling in the afternoons, and typing letters and proposals in the evenings until he could afford to hire an assistant. Recognizing the importance of focusing on deal-making, Barry understood that he needed to grow his business to afford help with administrative tasks.
In 1991, Barry became a partner at Howard Ecker & Company, where he expanded the business by hiring additional staff and reinvesting his income and commissions. By 1994, he acquired the West Coast operations of the firm and rebranded it as The Saywitz Company, embarking on a successful entrepreneurial journey.
Barry’s leadership and strategic vision led to significant growth and success. In 1997, he began investing in rental properties, understanding that the cyclical nature of brokerage income could be offset by steady rental income. His initial investment in a duplex in Newport Beach expanded to multiple units and eventually to a substantial portfolio. Today, Barry Saywitz Properties owns over 100 commercial, multifamily, and retail investment properties throughout Southern California, complete with its own construction, property management, and leasing divisions.
Barry’s journey from a novice in a tumultuous market to a leader of a thriving real estate empire underscores his resilience, innovative thinking, and dedication to success. Despite the challenges and mistakes along the way, Barry’s accomplishments stand as a testament to his hard work and strategic insight in the commercial real estate industry.
People Make the Difference
Barry understands the critical importance of surrounding oneself with dedicated and loyal individuals. At The Saywitz Company, employees are treated like family, fostering an environment of mutual respect and loyalty. This approach has resulted in a team of long-term employees who have been instrumental in sustaining and growing the company.
As a leader and business owner, Barry emphasizes the necessity of being attuned to his employees’ needs, wants, and emotions. He recognizes that while business objectives are paramount, ensuring that employees get along with each other, clients, and customers is equally important. Motivation and interpersonal harmony within the team are crucial for success, though they present ongoing challenges.
Barry candidly acknowledges that managing people is both the most rewarding and the most challenging aspect of owning a business. He often shares that the most valuable part of his business experience is “the people,” and conversely, the most difficult aspect is also “the people.” This duality highlights the complexities of leadership and the central role that a dedicated team plays in the success of The Saywitz Company.
