Phil Mahoney with Cornish & Carey Commercial in Santa Clara, CA (the heart of Silicon Valley), writes, "Many brokers in this Valley own buildings or pieces of them. How better to understand ALL of the business than to be there yourself with your own dollars? This is an insight that the 'holier than thou' camp cannot possibly appreciate, and, quite frankly, many of our clients are very respectful of our advice knowing that we truly understand the issues of ownership, lending, and the knowledge gleaned."

Alec Pacella with Grubb & Ellis in Cleveland writes, "I think brokers' skills are enhanced if they own property. It's one thing to tell a client/investor that you know what they are going through. But it is clearly another to have first-hand experience. Having been through refinances, cash calls, re-positionings, and tenant bankruptcies, I'm much better prepared to help my clients than someone who hasn't walked a mile in their shoes."

Robert Vallera of IPC Commercial Real Estate in La Jolla, CA, writes, "My clients like the fact that I 'drive what I sell.' Having owned apartments in San Diego through two market cycles increases my value to my apartment investment clients because they know that I understand how these properties perform in good times and in bad."

--Peter Pike