How industry leaders like Bob Knakal demonstrate why playing the long game is essential for sustainable growth across any field
Playing the Long Game in Commercial Real Estate
Success in commercial real estate (CRE) isn't about quick wins—it's about patience, discipline, and the ability to see opportunities where others don't. No one exemplifies this better than Bob Knakal, one of the most prolific investment sales brokers in New York City history. With over 2,342 building sales under his belt, totaling more than $21 billion in transactions, Knakal has spent decades mastering the art of long-term success.
The lessons Knakal has learned transcend real estate. Whether you're investing, building a business, or navigating your career, his approach—deep market knowledge, strategic patience, and a relentless focus on fundamentals—demonstrates why playing the long game leads to sustainable success.
Vision: Seeing Beyond the Immediate Deal
Bob Knakal built his career by seeing opportunities others overlooked. He didn't just focus on selling buildings—he became an expert in neighborhood-specific market trends, earning a reputation for knowing New York City's investment sales market better than anyone.
A key element of Knakal's success was his masterful execution of the territory system at Massey Knakal. While other brokers chased deals across the entire city, his firm's disciplined approach to territorial specialization allowed brokers to develop deep market knowledge and strong relationships within their assigned areas. This focused approach helped them better serve their clients and build lasting relationships in their territories.
Rather than rushing to close the next transaction, Knakal always played the long game—building trust with property owners, tracking sales trends, and positioning himself as the go-to expert in his field.
Lesson from Knakal: The best opportunities don't always look like opportunities at first. True professionals invest in their expertise and relationships for the long haul.
Patience: Mastering Market Cycles for Lasting Success
Every great real estate investor or broker understands that timing the market is impossible, but understanding cycles is essential.
Knakal has navigated multiple downturns—the savings and loan crisis, post-9/11 market corrections, the Great Financial Crisis, and now the challenges of rising interest rates. Each time, he has watched over-leveraged investors and short-term speculators get wiped out, while those who played the long game emerged stronger.
During market downturns, when many firms pulled back, Knakal maintained his commitment to providing value through market insights and maintaining strong client relationships. This strategic patience and consistent presence in the market helped build trust with clients through difficult times.
Lesson from Knakal: The professionals who thrive long-term aren't the ones who chase short-term trends—they're the ones who understand and respect market cycles.
Lessons from True Pros: How Industry Leaders Master Time
While writing True Pros, I spoke with top CRE professionals, and a consistent theme emerged: success isn't just about what you know—it's about when and how you apply that knowledge.
Here are three key principles Knakal and other industry leaders follow:
- Market Knowledge is Power
- The best professionals know their markets inside and out
- They track both obvious and subtle market indicators
- They build systems to capture and analyze data systematically
- Consistency Compounds
- Success isn't about one big win—it's about doing the right things repeatedly
- They maintain discipline in both up and down markets
- They focus on building sustainable processes over quick results
- Relationships Drive Long-Term Growth
- Real estate (and business) is about people
- They invest in relationship-building systems and processes
- They prioritize trust and reputation over immediate gains
Cross-Industry Applications: The Long Game in Action
The principles that drive success in real estate apply across industries. Leaders who understand the power of patience and vision often share common approaches:
- Territorial Focus
- Developing deep expertise in specific areas
- Building strong relationships within defined territories
- Maintaining consistent presence and engagement
- Market Cycle Awareness
- Understanding industry-specific cycles
- Maintaining discipline during downturns
- Preparing for opportunities in all market conditions
- Relationship-Based Growth
- Prioritizing long-term relationships over short-term gains
- Creating systematic approaches to relationship building
- Maintaining consistent communication and value delivery
Implementing the Long-Game Mindset: A Framework
To apply these principles in your field:
- Define Your Territory
- Identify your specific market or expertise area
- Map key stakeholders and relationships
- Create systems for tracking market dynamics
- Build Your Knowledge Base
- Develop expertise in your chosen area
- Create systematic learning processes
- Track and analyze key metrics
- Establish Relationship Systems
- Create regular touchpoint schedules
- Develop value-add communication plans
- Build long-term engagement strategies
- Prepare for Cycles
- Identify key market indicators
- Create contingency plans
- Maintain resources for opportunities
Final Thoughts: The True Measure of Success
Knakal's career shows us that patience, market expertise, and a long-term mindset separate the best from the rest. His success wasn't built on chasing fast money—it was built on playing the long game, making small, consistent moves that added up to massive long-term results.
Whether you're in real estate, investing, or building a business, the question remains the same: Are you making decisions for the next 12 months, or the next 20 years?
The professionals who achieve lasting success understand that true excellence isn't about quick wins—it's about building sustainable systems, developing deep expertise, and having the patience to let your efforts compound over time.
If you want to dive deeper into the wisdom of CRE's top professionals, join our early reader program and get early access to True Pros. Be part of the journey that's changing how industry knowledge is shared.