By Mike Myatt, Chief Strategy Officer, N2growth

Peter Roberts, CEO, JLL

Peter C. Roberts is Chief Executive Officer, Americas for Jones Lang LaSalle (NYSE: JLL). Jones Lang LaSalle has more than 30,000 people in 750 locations across 60 countries. What better person to interview on topics of leadership and commercial real estate than the CEO of the firm that has been recognized as the best overall provider of corporate real estate services by the Watkins 2009 Survey of Corporate Real Estate Service Providers. Of the 19 providers evaluated by the largest users of commercial real estate services, Jones Lang LaSalle was rated #1 in every category, including delivery of results, adaptability of services, pricing, reputation and financial strength. On with the interview…

Mike Myatt: Peter, for our readers who may not be familiar with your background, would you please share a brief summary of your career history?

Peter C. Roberts: My first experience in the real estate industry was a summer job with Trammell Crow in Houston in 1985. I learned during that experience that I liked real estate but I didn’t want to start my career in development. I joined what was then LaSalle Partners in Chicago in 1986, starting my career in Capital Markets. After 61/2 years, I moved to New York and spent the next eight years in Tenant Representation before moving back to Chicago in 2001 to become Jones Lang LaSalle’s global Chief Financial Officer. I relocated again in 2002, this time to London, as the firm’s global Chief Operating Officer, and then returned to Chicago in 2003 in my current role as Chief Executive Officer for the Americas region.

Mike Myatt: How do you view the current commercial real estate market, and where do you see it trending in 2010?

Peter C. Roberts: The overall market is clearly suffering from the effects of the financial crisis and the recession. Activity levels are down dramatically, fundamentals remain weak and price discovery for assets is challenging at best. So, what happens from here?

We expect the growth we’re seeing in outsourcing to continue as occupiers seek to drive efficiencies and cost savings through outsourcing of functions such as facility management, transactions and space planning. The pressure on businesses to reduce costs to remain competitive will not abate.

Leasing activity may start to pick up during 2010. With increasing vacancy and continued pressure on rental rates, tenants could see a growing window of opportunity with regard to choice and cost. Just to cite one asset class – the office market – we expect overall vacancy to peak above 20 percent in late 2010 or early 2011. While sublease vacancies remain 38 percent below the peak level of the last recession, sublease availability is expected to rise well into 2010.

With the downward re-pricing of assets and continued slow demand for space, distress among property owners will usher in some of the industry’s most attractive investment plays in the next few years. The volume of distressed properties nationwide continues to build steadily, recently surpassing $100 billion. This total will likely continue to increase over the coming quarters as commercial mortgage maturities grow in 2010 and will surpass the $400 billion mark annually by 2012.

Mike Myatt: What do you see as JLL’s strongest competitive value proposition?

Peter C. Roberts: I believe that the best companies – the most competitive – are those that have the strongest alignment of their entire business: strategy, business model, culture, compensation philosophy, etc. I see a direct correlation between the degree of alignment of these elements and the success of the company.

Our strongest competitive value proposition starts with our culture, which is all about placing our clients’ interests first, teamwork, integrity and trust.

In our business, being able to deliver all the benefits of our firm through a single point of contact is key to our ability to align our actions with our clients’ needs. This alignment creates real value in our clients’ eyes because they trust us to be proactive and to exceed their expectations on a consistent basis. Our ability to exceed our clients’ expectations day in and day out rests on the strength of our culture.

Mike Myatt: What do you see as your primary role as CEO?

Peter C. Roberts: My primary role as CEO is working with others. That may sound strange, but if the CEO is ultimately accountable for vision, strategy, performance of the organization (both financial and qualitative), and the long term, sustainable success of the organization, none of that can be accomplished alone. So establishing a vision, and working with the leadership team to shape it and mold it into reality, is an example. Working with the leadership team to establish strategic priorities to achieve the vision is another. Empowering leaders, and the organization, to execute the strategy is another.

I think another key role for the CEO is to ensure that the “voice of the customer” resonates within the organization. Bringing that voice, and the client’s needs, to the table for every major decision is important for a client-driven firm. Finally, I think the “tone at the top” is critically important for any organization, and that tone at the top starts with the CEO.

Mike Myatt: Do you have a mentor, and how important was that person to you in term of your professional development?

Peter C. Roberts: I’ve actually had so many mentors, I’ve lost count! I’ve always believed that you can learn more from others than you can from what you read. I’ve also believed that there should be no end to one’s personal growth and self improvement. So I look for every opportunity to learn from others either more experienced than I or simply with different experiences than I have had. I look for opportunities to learn from mentors every day.

Mike Myatt: What books are you currently reading?

Peter C. Roberts: Well, you’re catching me right after my birthday, and being a big Brice Springsteen fan, I received Runaway Dream: Born To Run and Bruce Springsteen’s American Vision. So I just cracked that one. Also, Think Big, Act Small by Jason Jennings.

Mike Myatt: What would you say was your “defining moment” as an executive?

Peter C. Roberts: I really don’t view my career, or my work, as a series of “moments.” So the closest thing that comes to mind is really the last five years. Five years ago, we worked with our leadership team to establish several concrete strategic priorities. We also established a financial goal that we thought was achievable if we executed successfully on our strategic priorities and we had a favorable economic climate. Well, the end of the five year period is the end of this year. While we all know that the economic climate has not remained favorable, we have focused unrelentingly on our strategic priorities, and at the end of this year we will have exceeded our five year goal by 31%! It has been a fun journey, and it marks the beginning of the next chapter…..

Mike Myatt: What do you see as your greatest leadership strength?

Peter C. Roberts: A combination of an innate belief that everyone can bring something of value to the table, and a focused commitment to connecting with, and listening to, people.

Mike Myatt: What is the toughest leadership decision you have had to make thus far in 2009?

Peter C. Roberts: As we, and most companies, have focused on cost savings this year, the toughest decisions centered around right sizing our cost structure – specifically involving staff and compensation. These are tough because they affect people, and people are our most important asset. It’s always hard to lose people and, as a leader, these decisions are the hardest to make.

Mike Myatt: If you could give one piece of advice to our readers what would that be?

Peter C. Roberts: I would share a piece of advice that I learned from one of those many mentors: Everyone else is at least as smart as you are, if not smarter. So, if you see something, you can bet your bottom dollar that everyone else sees it, too.

Conclusion:
I think it’s clear to anyone reading this interview that Peter’s humility, his commitment to the people he works with, and to his clients have served him well. It’s no wonder that under his leadership that JLL is consistently one of the most highly regarded brands in commercial real estate.

Jones Lang LaSalle, agentul co-exclusiv de inchiriere al AFI Palace a anuntat semnarea contractului cu un nou chirias, retailerul german NewYorker.

New Yorker deschide cel de-al doilea magazin al sau in Bucuresti cu o suprafata de aproape 800mp. Retailerul german face parte dintr-un lant de 700 de magazine in 25 de tari, fiind una dintre companiile importante din Europa, cu colectii destinate publicului tanar 12-39 ani, trendy si la preturi atractive. Gama de produse consta in brandurile Fishbone, Amisu, Smog si Censored.

Ernst & Young is freeing up at least 7,500 sqm at Charles Square Center in Prague, saying it’s looking for cheaper, greener space. It’s not exactly a ringing endorsement for CSC, when you consider that Quinlan Private Golub moved out earlier this year (though to be fair, to a building of its own).

E&Y has enlisted Jones Lang LaSalle to help it in the search for a new headquarters, telling the agency it wants a building located in the “wider center.” It also insists its green intentions are pure: “As part of Ernst & Young’s strategy to minimize the impact of its business operations on the environment, “green buildings” will be seriously considered when identifying new office premises,” says Petra Di Nicola, E&Y’s head of real estate and facilities for Central and Southeast Europe, in a JLL press release.

It’ll be just as interesting to see who moves into E&Y’s space as to see where (if?) the company ends up moving. Press releases, after all, can be used in negotiations as blunt-edged weapons.

Ferenc Furulyás, JLL’s head of capital markets in Hungary, doesn’t expect the country’s investment volume this year to hit even half of its 2008 result of €411m. If it’s going to get anywhere close to that figure, it won’t be with deals the size of Budapest’s most recent transaction, RiverLoft Offices.

The €10.4m deal, in which Investec GLL SGO REF Holding Alpha bought the 5,500 sqm building at the end of May, had been in negotiations since last year. Just €5.4m has been paid so far under the terms of the transaction. Furulyás wouldn’t comment on the yield, but the new owner will be taking on significant leasing risk as the building is only about half let, at least according to the project website.

Nothing like some good news to start your weekend. In an unusually positive report, yesterday’s Guardian carries a relatively sunny article about the prospects for the CEE property market. (Note also how the paper solves the annoying British media habit of calling everything west of Frankfurt “Eastern Europe”)

Global real estate investors who fled emerging Europe at the start of the year are inching back to the region, lured by prospects of higher returns as fears of widespread economic collapse ebb.

Emerging real estate markets such as Poland, whose economy has held up relative well in a global downturn, and Russia, which is bolstered by rising crude oil prices, are becoming attractive, but Hungary and the Baltics remain no-go zones.

The main source for the article is Karsten Junius, head of research for Deka Bank. “We’re coming out of a period where no one wanted to do anything as systemic risk in the whole region was extremely high … that period is clearly over.”

Impressively, the Guardian bothers to get some local talent to weigh in on the issue. Jos Tromp, for example. “There is still a belief that in the medium to long term, there will be a lot of growth in this region,” says CBRE’s head of CEE research, who adds that in addition to opportunistic investors, core buyers are sniffing around again.

The paper even sources Tomasz Trzoslo, JLL’s head of capital markets for CEE, who says what many have been warning for some time now. ”If you can buy in London for 6-7 percent, why buy in Central Europe? Central Europe needs to trade at a yield premium — my guess about 150-200 basis points.”

The Intel Asia Corporate Facilities GM said that Jones Lang LaSalle is offering USD75Million in cost savings over the 5 years for Intel Facilities Management across Asia Pacific.

For the benefit of all, the Intel APAC Facilities Management contract worth about USD150Million or so, so they say.

I am wondering how the fuck Jones Lang LaSalle (JLL) arrived at the number of USD75Million in savings? Well, my deep throat seriously hopes to see the list of savings committed by JLL. USD75Million is basically 50% of the total contract. This literally means that what Intel is paying in this contract to JLL, JLL is actually giving back 50% to Intel. I don’t mind the paying back but 50%?

Hey, it is USD75Million that we are talking about..

How is it possible that (if the contract was worth USD150Million to manage the entire Intel APAC facilities) JLL is going to run the operations smoothly or flawlessly (as Intel always uses that jargon)?

Definitely the contract worth was derived with the right computation, right mathematic, right methodology, historical spending and what not. If the actual spending did make up USD150Million, then how the hell is JLL gonna operate with USD75Million?

Basically, JLL is running some sites for free then. My deep throat tells me that the current incumbent supplier had offered upto USD50Million in savings. And even with USD50Million in savings, the incumbent supplier is already finding it hard to manage the operations lest breaking even.

Several weeks ago, when the GM was asked about the contract negotiations, he saintly (note I use the word SAINTLY) said that he had no knowledge or whatsoever.

Well, let me tell u this. The GM reports to Neil Turnmore, Intel Corp Facilities VP. Is it possible that what your boss does and yet when you are close to him and you do not have the knowledge about the contract negotiations?

My ass he doesn’t!!

Btw just to side track. Yesterday I was listening to Fly FM while I was driving back. The deejays were talking about phobias. One of them was acrophobia or the fear of heights. Jules, 1 of the 2 deejays said that she wasn’t afraid of heights but she was just afraid of high places. Huh?!?!?!

Ok, I was trying to comprehend how can one not fear of heights but fear of high places? So I called Tofu, and he said he doesn’t know what the fuck Jules was trying to mean. Seriously, how can I not fear height yet fear high places? Do high places not attribute to heights?

It is as if I am saying that I am Verminophobic (fear of germs) but I don’t fear the dumpster? I rest my case man.. Bodohland deejays nowadays don’t really know what the fuck they are talking when they are on air.

Too much retail in Warsaw? Not really, says Jones Lang LaSalle. In a study carried out with Reas and Gfk Polonia, the agency’s head of research Anna Bartoszewicz-Wnuk argues that now’s the time to start planning future supply.

“We are of the view that it is a good moment to start a new retail project in Warsaw, the opening of which would coincide with the economic recovery over 2011 -2013.”

Where to build, of course, is the question. The answer is to find the gaps that coincide with serious residential development.

had wanted to write this a long time ago but time was not permitting. I don’t hv the luxury to write lengthy and frequent articles like I used to do so as when I was in Kiasuland. I shall reserve that for a later part.

In my last article before I left Kiasuland, I mentioned that I will write abt Intel’s URM. Well, I shall need to digress for the meantime for more urgent matters that I need to bring everyone’s attention to.

3 words – Jones Lang LaSalle.

If you guys out there are not sure who the fuck Jones Lang LaSalle is, then let me unkindly share with you who these fuckers are.

JLL is a real estate company that specializes in commercial property management. Read it clearly – it says COMMERCIAL PROPERTY.

So why the fuck and why bother bidding in the recent multi million dollar semicond-based MNC facilities management?? Semicond based MNC aint any commercial property.. Commercial properties are like Ngee Ann Tower, Berjaya Times Square and what not. When did this specific MNC fall into the category of commercial property?

Anyways, if you wish to know more abt Jones Dick LaSalle, then click here.

Let me not hold back any words today. Since JLL was the one that exposed every piece of information about their bidding, then let me continue doing so.

JLL was 1 of the many bidders for a multi-million dollar contract for APAC’s Intel Facilities Management. JLL was shortlisted to be the final 2. Many weeks ago, in fact abt 1.5 mths ago, JLL went around bragging that they had won the contract when the announcement was due to be made only in mid-May. When they fan the rumor so big, the announcement had to be postponed a couple of wks later. Today, news has it that they hv won.

Many might have not come across JLL in Bodohland except perhaps those in the Klang Valley. JLL is deemed to be a reputable company in Kiasuland. Having worked in Kiasuland before, I have actually come across many property managements undertaken by JLL. The question is why JLL is venturing into Intel only now? Is it because they undercut to win the contract in Intel US hence now they are inching their way into APAC as well?

Well, JLL has been playing dirty. They have been going around telling people that they have won the contract. One of JLL’s contractor, Pure Air has been doing the honours in fact. Problem is the contract has not been officially awarded. So how the fuck does JLL know that they have won the contract?

This only boils down to 2 things.

- JLL is stooping all time low to make it even harder for other bidders to compete or

- JLL had in fact gotten the contract thru other means of communication which is yet to be made official.

Rumor has it that JLL’s boss is quite a close friend to an Intel Facilities VP. Well, time will tell if that rumor is true. I thot hanky panky and corruption only takes place abundantly in Bodohland. Somehow if this rumor is true, then Intel is as fucked up as Bodohland. All the talk about business ethics and code of conduct is just full of bullshit!!

Just for the benefit of everyone – several months back, JLL undercut to basically win a bid to manage Intel’s Facilities Management in US. Rumor has it again that JLL came from the back door.

News also has it that JLL is one of the bidders for Dell, so happened to be outsourcing its facilities management. JLL, are u that pure and sincere to be expanding your business or are u crumbling big time in the commercial property sector? The way I see it, it is the latter… And from all the dirty tactics you are resorting to, I believed you are not sincere. So fuck off!!

Until my deep throat provides me with more information, I shall pen off for now.

Hari Sabtu kemaren, tanggal 20 Desember 2008, seusai latihan softball yang berjalan seperti rutinitas biasa, namun tanpa sarapan pagi bubur pelana, sang bubur idola, gw nonton pertandingan Mets dari JLL, Japan Little League melawan Doberman. Saat gw menyaksikan pertandingan yang terpaut usia lumayan jauh Mets yang berusia 11-12 dan Doberman yang sudah pada SMA semua itu, gw menemukan panutan gw. Panutan lemparan gw. Dari seorang yang bernomor punggung 19. Yang namanya kalo ngga salah Moriyama. Dan menurut gw, dia memiliki tampang jenius ilmiah.

Kau tau? Lemparannya sangat fantastis. Sangat persis sama yang ada di dua komik yang juga menjadi panutan gw, yang selalu gw baca di kamar mandi sebelum pergi sekolah, Touch dan Cross Game. Berbeda dengan lemparan-lemparan yang gw udah liat dari pitcher” yang lain. WAW! Seperti kata Junpei Azuma pada Kou Kitamura di komik Cross Game, yang intinya gerakan sikunya sungguh ideal sehingga tak mudah cidera. Dan sepertinya gerakan dari salah seorang pitcher di Mets ini juga ideal.

Namun, apakah dugaan gw benar? Karena saat beberapa saat kemudian, ngga tau inning berapa, dia diganti. Dan saat game ini hampir selesai, ditemukan bahwa ia mengenakan semacam alat pendingin di lengan kanannya. Yup. Alat yang sangat keren dan nampak misterius. Sepertinya, ia diganti dengan pitcher lain karena lengannya sakit.

Selain gerakan sikunya yang menurut gw ideal, hasil pukulannya pun tak bisa diremehkan. GILA! Persis kayak di komik yang gw baca. Keren!

Dan highlight di game ini adalah:

Saat ada runner di base 2 mencoba stealing ke base 3 dan bola dilempar oleh catcher ke base 2. Saat runner dari base 2 lagi lari ke base 3, bola pun dilempar dari second baseman ke third baseman. Runner yang kaget karena bola dilempar ke base 3 langsung berputar balik, lari ke base 2. Namun, tak putus asa, third baseman melempar ke base 2. Namun karena asa dari runner yang ikut-ikutan belum putus, ia berlari lagi ke base 3. Dikarenakan di base 3 tidak ada yang meng-cover, seketika itu catcher yang asalnya di home plate langsung lari ke base 3 dan menangkap bola yang dilempar second baseman ke base 3. Si runner mencoba save dengan sliding, namun gagal. Dia keburu di tik (intinya dibuat out) oleh catcher yang ada di base tiga. Sungguh run down yang sangat menegangkan. KEREN.

Ada yang ngga ngerti dengan tulisan gw di atas? Jangan khawatir, silakan tanyakan di apotek terdekat Paramex untuk orang sembelit dan usus buntu, pasti ngga akan ada yang jawab, karena mereka langsung menelepon rumah sakit jiwa terdekat.

These are the early bird Downgrades and negative calls from analysts we are seeing this Thursday morning:

• Akamai (AKAM) Cut to Market Perform at FBR.
• Avon (AVP) Cut to Hold at Deutsche Bank.
• California Pizza Kitchen (CPKI) Cut to Neutral at Baird.
• CB Richard Ellis (CBG) Cut to Neutral at JPMorgan.
• FedEx (FDX) Cut to Equal Weight at Morgan Stanley.
• General Growth Properties (GGP) Cut to Sell at Citigroup.
• Hologic (HOLX) Cut to Hold at Jefferies.
• Jones Lang LaSalle (JLL) Cut to Neutral at JPMorgan.
• Temple-Inland (TIN) Cut to Neutral at Credit Suisse.
• THQ (THQI) Cut to Perform at Oppenheimer.
• Timberland (TBL) Cut to Sell at Citigroup.
• T.Rowe Price (TROW) Cut to Market Perform at Wachovia.
• USANA (USNA) Cut to Underperform at Jefferies.

Jon C. Ogg
July 31, 2008

Kemper’s Jones Lang LaSalle Retail analysiert Vermietungsmarkt im ersten Quartal 2008

Der Markt für Einzelhandelsflächen in 1a-Lagen ist trotz schwacher Handelsumsätze hervorragend in das Jahr 2008 gestartet. Nach Angaben des auf Einzelhandelsimmobilien spezialisierten Beratungsunternehmens Kemper’s Jones Lang LaSalle Retail ist der Nachfragedruck im ersten Quartal 2008 im Vergleich zum Vorjahr nennenswert gestiegen. Auf der Grundlage eigener Recherchen und der Vermietungsmeldungen der Immobilien-Fachtitel hat das Unternehmen im Rahmen einer repräsentativen Studie für das erste Quartal 2008 eine Stichprobe von 130 Vermietungen aller Maklerhäuser mit einer vermittelten Fläche von insgesamt 50.000 m² untersucht. Danach gewinnt der Wettbewerb um erstklassige Flächen weiter …

weiterlesen…

Düsseldorfer Einzelhandelsmarkt:

Kemper’s Jones Lang LaSalle Retail analysiert Vermietungsmarkt im ersten Quartal 2008

Der Markt für Einzelhandelsflächen in 1a-Lagen ist trotz schwacher Handelsumsätze hervorragend in das Jahr 2008 gestartet. Nach Angaben des auf Einzelhandelsimmobilien spezialisierten Beratungsunternehmens Kemper’s Jones Lang LaSalle Retail ist der Nachfragedruck im ersten Quartal 2008 im Vergleich zum Vorjahr nennenswert gestiegen. Auf der Grundlage eigener Recherchen und der Vermietungsmeldungen der Immobilien-Fachtitel hat das Unternehmen im Rahmen einer repräsentativen Studie für das erste Quartal 2008 eine Stichprobe von 130 Vermietungen aller Maklerhäuser mit einer vermittelten Fläche von insgesamt 50.000 m² untersucht. Danach gewinnt der Wettbewerb um erstklassige Flächen weiter …

weiterlesen…

from JLL’s article on the newer Gaian Tantras !

The complementarity of these two practices should be obvious. Tantra enhances and deepens the capacity to sink into bodily pleasure, so it improves the corporeal tool for Gaian practice. Conversely, Gaian shamanism induces a massive tenderness, bonding us to the earth in a way that makes sensual-sexual pleasure all the more deep and delicious, when we get around to it. Although deeply erotic, visionary trance does not lend itself to the enactment of sexual desire. But Tantrically enhanced sexuality does induce certain kinds of visionary effects. As far as I know, these shamanistic effects, which can be quite spectacular, are not described in current popular expositions of Tantra presented as sexual yoga or an intimacy enhancement technique for couples who want to spice up their bedroom routine.

from Peas in  a Pod people!

With everyone focusing on the gloomy residential real estate market, I thought it might be interesting to take a look at what’s happening over on the Dark Side of the Force, aka, commercial real estate.

CoStar released their Q4 financial results recently, and boy, are they impressive:

BETHESDA, Md., Feb. 20 /PRNewswire-FirstCall/ — CoStar Group, Inc. (Nasdaq: CSGP – News), the number one provider of information services to the commercial real estate industry, today announced that net income for the year ended December 31, 2007 increased 28.5% to $16.0 million, or $0.82 per diluted share, compared to $12.4 million, or $0.65 per diluted share for 2006. EBITDA (earnings before interest, taxes, deprecation and amortization) for the year ended December 31, 2007 was $34.0 million, an increase of 31.3% compared to EBITDA of $25.9 million in 2006. Revenues for the year ended December 31, 2007 were $192.8 million, an increase of 21.3% over revenues of $158.9 million in 2006.

28.5% increase in profit; 21.3% increase in revenues. Wow. Nice. Congratulations are due to the people at CoStar.

For the sake of comparing apples to apples, here’s CoStar’s archnemesis, Loopnet:

Revenue for the fourth quarter of 2007 was $19.6 million, an increase of 41% from $13.8 million in the fourth quarter of 2006. Net income for the fourth quarter of 2007 was $5.7 million or $0.14 per diluted share, compared to $5.3 million or $0.13 per diluted share in the fourth quarter of 2006. The effective tax rate for the fourth quarter of 2007 was 38.1% compared to 25.8% in the fourth quarter of 2006.

LoopNet’s Adjusted EBITDA (earnings before interest, tax, depreciation, amortization and stock-based compensation) for the fourth quarter of 2007 was $9.4 million, an increase of 40% from $6.7 million in the fourth quarter of 2006. The Company has reported Adjusted EBITDA because management uses it to monitor and assess the Company’s performance and believes it is helpful to investors in understanding the Company’s business.

For the full year, total revenue was $70.7 million, an increase of 46% from $48.4 million in 2006. Net income for the full year of 2007 was $21.1 million or $0.52 per diluted share, compared to $15.5 million or $0.40 per diluted share in 2006. Adjusted EBITDA for the full year of 2007 was $34.0 million, an increase of 46% from $23.2 million in 2006.

$5.7M vs. $5.4M — that’s a 7.5% increase — but as LoopNet points out, Uncle Sam and the People’s Republic of California took a much bigger chunk. So LoopNet points to EBITDA: $34M vs. $23.2M, or 46%. Revenues were up 46% as well.

Again, a great year, and congratulations are due to the boys and girls at LoopNet.

What about some of the other stalwarts? Maybe some non-web companies?

Here’s the clear industry leader, CBRE:

CB Richard Ellis Group, Inc. (NYSE:CBG – News) today reported full year 2007 revenue rose 49.7% to $6.0 billion and earnings per share increased 23.0% to $1.66 per diluted share – both record levels for the Company. Fourth quarter 2007 revenue increased 30.4% to $1.8 billion and diluted earnings per share increased slightly to $0.54 compared to the fourth quarter of 2006. Excluding one-time charges, full year diluted earnings per share was $2.11, an increase of 42.6% from 2006 and fourth quarter 2007 diluted earnings per share was $0.63, representing an increase of 10.5% from the fourth quarter of 2006.

Yowza. 23.0% increase in earnings, and 49.7% increase in revenues.

What about the other major player, Jones Lang & Lasalle?:

Jones Lang LaSalle Incorporated (NYSE: JLL – News), the leading integrated global real estate services and money management firm, today reported record net income of $256 million, or $7.64 per diluted share of common stock, for the year ended December 31, 2007. This represents an increase of 46 percent over the prior year’s net income of $175 million, or $5.24 per share. Revenue for the full year 2007 was $2.7 billion, an increase of 32 percent from the prior year, the result of strong performance in all operating segments. Operating income for 2007 was $342 million compared with $244 million for the prior year, an increase of 40 percent, led by Asia Pacific and EMEA. Included in the firm’s 2007 full-year results was a significant advisory transaction fee earned by the Asia Pacific Hotels business. Included in the firm’s 2006 full-year results was an incentive fee from a single client of $113 million, or $1.01 per share, earned by LaSalle Investment Management. The strengthening of foreign currencies against the U.S. dollar in 2007 contributed $0.07 per share in the fourth quarter and $0.23 per share on a full-year basis.

JLL with 46% increase in earnings, and 32% increase in revenues. Woot!

These firms somehow managed to post these numbers and do this kind of business in a world without MLS, and without a NAR-type of organization that spends millions burnishing the Realtor brand (although, yes, there is a commercial specialty at NAR).

Just something to think about. You don’t know the power of the Dark Side.

-rsh