ICREA honors veteran Cross as Broker of the Year
A lunch with Bill Knapp more than a quarter-century ago led Ron Cross to the commercial real estate business. But before he started The Cross Corp. 25 years ago, he worked as a certified public accountant for Arthur Andersen & Co. in Kansas City and then as controller for General Management Co. in Des Moines, which became General Growth Properties Inc. He then became a controller for the motel and restaurant management company Knapp & Bradley, a division of Iowa Realty Co. Inc. Not only has Cross had extensive experience as a real estate broker, but he also has been involved in the community, including the planning committee for Urbandale’s Fourth of July celebration, the board of the Polk-Des Moines Taxpayers Association and board of the Iowa Commercial Real Estate Association. These credentials led ICREA to name him the 2006 Broker of the Year.
What do you like about commercial real estate?
It’s somewhat like when I was in public accounting, where you meet a lot of nice people, getting involved in their business decisions. Sometimes your guidance may lead to a decision to buy or lease.
What’s the biggest deal you’ve worked on?
I don’t know about the biggest one, but the first larger one was a few months after I started, I negotiated a 15-year lease with Addressograph-Multigraph and Bankers Life Co., which is now Principal. At that time, that paid $92,000 in commission and I got half, so I thought, “Well, this beats working for a living.”
How has your company changed?
We’ve been larger, with 13 agents. Now it’s myself and two others.
Is there an advantage to being a small business?
The larger commercial brokers have an advantage working through their affiliate companies for referrals, but the highest percentage of business that goes on in the community is within the community, and so where you live is good for individual brokers.
What attracted you to commercial real estate?
To get out of traveling and late hours.
What do you like about Urbandale?
Urbandale is a large small town in that you can become active really easily or you can keep to yourself. I like keeping in contact with the community I live in.
What kinds of projects do you like working on?
I enjoy working on warehouse, industrial flex-type projects.
Is there anything you would like to see happen in the field?
I’m interested in the Iowa Commercial Real Estate Association continuing its path of progress. I was on the board from its inception until last year. We have a lot of talented young brokers coming in the market, and they’re quite capable of taking hold.
What’s the biggest change you’ve seen in the business?
Certainly the number of brokers has changed. It’s probably expanded even a little bit greater than the number of properties. When I first got into it, you might have been able to count all the commercial brokers on your two hands. Now we have well over 100.The other thing is that the technology has changed substantially. It has enabled you to get more information easier and keep track of everything.
Is the competition steeper?
The 80/20 percent rule still prevails in that 20 percent of the brokers make 80 percent of the business.
Do you feel like you’re one of the 20 percent?
I used to be, yes. Do you ever see yourself retiring? I’m going to keep involved. I grew up at a service station garage and worked long hours, seven days a week. I still enjoy getting after it every morning.
How did you make your first dollar?
Working at a service station at age 12. I got paid a quarter per hour. Pumping gas, washing windshields, checking tires. But back then, regular help didn’t get paid over a dollar an hour, so it wasn’t all that bad of a job.
Where would someone find you on the weekends?
In the wintertime, at one of the ice arenas watching my grandchildren play hockey. In the summertime, I work on cars. My dad was a Willys-Overland Jeep dealer, and I accumulate them now.