Mike DeGiorgio is the founder and director of Crexi, the industry’s largest commercial real estate and most advanced technology-based platform.
Under his direction, Crexi hosted the world’s largest single-asset real estate online transaction, increased its presence by opening office locations across New York, Raleigh, Dallas, Phoenix, and Miami along with the company’s Los Angeles headquarters, facilitated more than $1 trillion in transactions so far and enables more than 3 million potential buyers, brokers and tenants to discover over $2 trillion worth of real estate value across the United States.
In the past, DeGiorgio founded Auction.com, which is now known as Ten-X. He graduated with a degree in business from Northern Illinois University, where the university has had him as an instructor on tech entrepreneurialism and has been awarded the Outstanding Young Alumni Award.
DeGiorgio is also among the Globe St.’s 2022 CRE Technology Influencers.
Where did the concept for Crexi come from?
I took a look around the commercial real estate and noticed an issue. While nearly every other business and industry sector was awash with technological advancements, commercial real estate had an entirely different situation.
I was looking to create an online platform that could dramatically alter the market by offering accessible and real-time data for professionals in commercial real estate.
Crexi’s mission is to bring every process of buying, leasing, selling, and buying online, making the business more efficient, accessible, transparent, and easy to access.
What would your typical day take? How can you ensure that it is productive?
Every day is entirely different. I begin by reading the news to keep track of the market.
Then, I go to the office. I check my emails and return calls. I love to attend meetings that are happening in the office to gain a better understanding of what’s in the works and meet the Crexi employees.
I’ll be able to get a demonstration of a new feature to go live during the next sprint. In the afternoon, I’m usually in meetings with potential investors or customers or have lunch at my desk while I check my emails.
I’ll speak with the executive group shortly after lunch about the latest initiatives. I usually leave for home by 6:30 at the latest to have a quiet time with my child before she falls asleep, at which point I’ll come back to complete my work for the day.
How can you bring ideas to your
Collaboration. I might be thinking of something. However, I love to exchange ideas with others and then move those ideas to the next step with my team.
Crexi is a fast-paced company. I am committed to creating an environment where the best idea is always the winner. Crexi, when anyone has a good idea, I will champion the picture and determine the best way to put the concept into action fast.
A healthy debate is encouraged, and we commit to the same objective once we agree.
What’s one thing that interests you?
Self-driving cars. And technological advances are traditional digitalizing industries and bringing them into the online realm.
Both trends have a way to go before reaching their full potential. However, it’s thrilling to see industries transform with the help of technological advancements.
What’s one thing you do to help you become more productive as a business owner?
Exercise – I’m an avid sports enthusiast in general, and I am a golf enthusiast. I like to take 30-40 minutes in an infrared sauna every five times weekly. I also take cold showers and always drink at least one gallon of water daily.
Maintaining a healthy physical state helps me stay energetic, which allows me to think about the issues in greater depth and focus more on my work.
Which advice do you impart to yourself to your future self?
Keep your eyes on the prize and get to work. The hard work pays off. Relationships are also meaningful. Take the time to build new friendships, and make time for those you cherish the most a priority.
You can learn something from everyone, and you must treat everyone with tremendous respect.
Share something with us that is the truth that virtually no one is with you about.
Michael Jordan is the greatest basketball player ever. Many people agree with me, but a lot of people don’t. Those people are not right.
Being an entrepreneur, what’s the thing you’ll repeatedly do and suggest everyone else do?
Meet new people each day. I make new connections. Conversations can teach you new perspectives. I consider it a top priority in my daily life.
What strategy has allowed you to grow your company?
You must ensure that you are getting better every day. If you can get even 1 per day better for a year, you’ll end up being 37 times better this year.
Don’t make rash choices unless you have to. If you ensure that you improve each day and make decisions that are right to ensure the success of your business, you’ll find yourself in a fantastic spot.
What is the most embarrassing mistake that you experienced as an entrepreneur? And what did you do to overcome it?
Over the years, I’ve hired some wrong candidates for positions at Crexi. Nowadays, I spend much more time interviewing and delving into the traits I’m looking to find in any we are hiring.
I want to ensure that the people I hire wish to build and develop with Crexi and are there for the long run. Our employees are everything.
What’s one business concept that you’d be willing to offer to our readers?
Crexi is an innovator. If you’ve got a fantastic business idea, you must invest all of your energy in it to make it a success. My personal favorite is Crexi.
What was the most memorable $100 you’ve ever spent? What is the reason?
I recently bought $100 worth of Roblox vouchers for gifts for my nephew and niece. The look on their faces as I surprised them was incredible. Being the most beloved uncle of this week is worth each penny.
What is the one application or web service that can help you become more productive?
Slack is a tool our company uses to keep in contact in the office and at home. Crexi’s social network is a significant part of the way we operate as a business.
Being connected is crucial, particularly when we increase our number of Crexi offices all over the US. We utilize Slack to collaborate as well for connection.
What is the most important book you think your community read, and why?
The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success by William N. Thorndike.
The book details the numerous ways to become a successful CEO and leader. It focuses on the fact that the top performers in leadership aren’t necessarily those you see in the media.
What is your top quote?
This is for those who are crazy. The rebels. The misfits. The rebels. The troublemakers. The round pegs in square holes. They see things differently. They’re not a fan of rules. They have no appreciation for the status established.
They can be quoted and disagree with them. You can also praise or denigrate them. The only thing you’re able to do is to ignore them. Because they are the cause of change, they propel humanity ahead.
Although some may view them as crazy, we can see they’re genius. Because those who are insane enough to believe they have the power to make a difference in the world are the group that succeeds. – Steve Jobs
What Key Learnings “Does Mike DeGiorgio” could offer to Enterprenuer readers?
Create a working environment where the most creative idea always wins. Create a team to help you take your pictures to the next step.
Chat with a new person each day. Learn from conversations and new perspectives.
People who are crazy enough to think they could alter the world are the group that can.