Summary
On this episode of Startup Junkies, hosts Jeff Amerine, Caleb Talley, and Matthew Ward are joined by Palmer Hays of Bennet Commercial Real Estate. A collegiate golfer, Palmer shares his insights on how he learned sales through the golf course by building relationships and gaining trust. He highlights how the state of the real estate market is influenced by people and their needs. He explains that infrastructure follows people, and as the population grows, new businesses and buildings emerge to support them.
Show Notes
(1:16) Introducing Palmer Hays
(4:09) Palmer’s Origin Story
(6:59) Choosing Commercial Real Estate
(7:59) Business on the Golf Course
(11:55) Market Changes in Northwest Arkansas
(15:37) The Perks of Northwest Arkansas
(22:02) Projecting Future Trends
(28:13) Handling Exponential Growth in Northwest Arkansas
(33:14) Prioritizing Mixed-Use Properties
(37:10) Advice for the Younger Self
Links
Bennett Commercial Real Estate
Quotes
“A typical deal that we’ll see—we’re either working with a tenant that needs to find a space, whether that be a startup or Fortune 500 company, a manufacturer, or just your typical [quick service restaurant]…We can touch on those businesses, and we can learn so much from what they do and also be able to solve one of their biggest issues at the time, which is typically finding a piece of real estate that works for them.” – Palmer Hays, (7:12)
“I wouldn’t say I had experience in sales prior to getting into the real estate industry, but what I did have experience in was talking to people who had a lot of business dealings. I grew up playing golf, and typically at the golf courses, you’re talking to business owners. You’re talking to individuals who own real estate. You’re talking to individuals who are having to make those decisions.” – Palmer Hays, (8:06)
“There’s nothing better than just getting here [to Northwest Arkansas]. So I’ll tell people all the time, if you have the opportunity and if the property is worth it, just come to Northwest Arkansas and take a peek at it.” – Palmer Hays, (16:16)
“Real estate as a whole, if you take a ten thousand foot view at it, it’s based on people. Where are people? Where are they located? Where are they coming from? What do they need around them?…So whenever you have more and more people moving in here, there’s going to be a need for X, Y, and Z…People drive real estate, so whenever you have more people, you’re going to have more need. And that translates to housing. That translates to industrial product. That translates to offices. That translates to more businesses coming here.” – Palmer Hays, (24:11)
Golf, Sales, and Real Estate in Northwest Arkansas
On this episode of Startup Junkies, hosts Jeff Amerine, Caleb Talley, and Matthew Ward are joined by Palmer Hays of Bennet Commercial Real Estate. A collegiate golfer, Palmer shares his insights on how he learned sales through the golf course by building relationships and gaining trust. He highlights how the state of the real estate market is influenced by people and their needs. He explains that infrastructure follows people, and as the population grows, new businesses and buildings emerge to support them.
Learning Sales on the Golf Course
Although he always found success on the golf course, Palmer felt the need to find new meaning and purpose as he left college. After talking with a few friends who were in commercial real estate, Palmer found himself working for a firm in Bentonville and loving his new industry.
Luckily, Palmer’s years on the golf course prepared him for his early career. He had spent countless hours around business owners and real estate professionals while caddying in the summers, picking up morsels of knowledge along the way. These hours gave him invaluable insight into business dealings he would not have had access to otherwise.
“I wouldn’t say I had experience in sales prior to getting into the real estate industry, but what I did have experience in was talking to people who had a lot of business dealings. I grew up playing golf, and typically at the golf courses, you’re talking to business owners. You’re talking to individuals who own real estate. You’re talking to individuals who are having to make those decisions.” – Palmer Hays, (8:06)
Forecasting Future Real Estate Trends
While Palmer avoids giving definitive projections on future markets, he’s confident that Northwest Arkansas will continue to grow at a notable rate. According to Palmer, real estate is fully dependent on people’s location and needs. If a large group of people moves to a lower-population area, you’ll see more development in that area. In other words, infrastructure follows population and necessity.
“Real estate as a whole, if you take a ten thousand foot view at it, it’s based on people. Where are people? Where are they located? Where are they coming from? What do they need around them?…So whenever you have more and more people moving in here, there’s going to be a need for X, Y, and Z…People drive real estate, so whenever you have more people, you’re going to have more need. And that translates to housing. That translates to industrial product. That translates to offices. That translates to more businesses coming here.” – Palmer Hays, (24:11)
When talking to businesses who are interested in purchasing or leasing commercial properties in Northwest Arkansas, Palmer’s advice is simple: come visit and see for yourself. While there are several resources available online to learn about the region, nothing compares to experiencing it for yourself.
“There’s nothing better than just getting here [to Northwest Arkansas]. So I’ll tell people all the time, if you have the opportunity and if the property is worth it, just come to Northwest Arkansas and take a peek at it.” – Palmer Hays, (16:16)
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