Interview with Stephen Cisarik, Managing Director at Newmark, San Francisco

Enaia equips top-performing CRE brokers and their teams with the technology they need to succeed. As a part of our Broker Highlight series, we interview Enaia users across career stages who are at the top of their game to gain insights into what qualities and best-practices comprise elite CRE brokers.

Stephen Cisarik is a top-producer at Newmark, San Francisco, having earned the 2023 National CoStar Broker Impact Award (of five national nominees), 2022 CoStar Power-Broker Award, 2022 CoStar Impact Award, Lease of the Year (Sigma Computing, Inc.), National Top Producer (Newmark- 2021), Regional Top Producer (Newmark- 2019, 2021 and 2025), National Rising Star (Newmark- 2018-2024), and Finalist for Rookie of the Year (Newmark- Cornish & Carey 2017).

Tell us a little bit about yourself and what you do.

I represent the domestic and international real estate portfolios for high-growth technology companies and venture funds. I'm based in San Francisco, yet only half of my work is here locally. Given my involvement within the venture community, we receive referrals to assist portfolios all over the world.

How did you break into CRE brokerage?  What drew you to the industry?

My family has always been involved in real estate. Whether it was land or multi-family related, I've been around real estate since a young age. Following graduation, I was fortunate to meet one of the San Diego leads for Colliers. After a lunch together, he recommended I meet folks in different departments and evaluate if it felt right. I decided to take the risk of "unknown" annual earning with a commission-based business and took the job (full-time).

What's the first deal you ever closed and what do you remember most about it?

It was a small law firm deal in San Diego. I had been "door-knocking" for months, cold calling every company in my designated submarket. It was a complete grind and it was difficult to believe a company would take a bet on a 23-year-old with no concrete experience. Yet, one day a partner was receptive to my pitch and called me back for a follow-up. I could tell he was taking a chance on a young professional (likely relating it back to his kids during that phase of his life), but I went into it knowing there was no way I would let him down. We ended up relocating them on a new 2,500 SF office, and I'm still in touch with him today. I try to never lose touch with my biggest advocates.

What was the most valuable advice you received when you were getting started in your career?

Treat each company with the same level of dedication, respect, and care. Focusing on the money is short-sighted in this industry. Don't pay attention to the fact the deal you just closed was 1,500 SF; focus on the fact your client is happy and also has a network of people you don't know. Once you've provided a high level of service, ask the client for some introductions. Whether there is an immediate requirement or not, it's a foundation you can build on. The next thing you know, you've ended the year with 100+ new connections and then it's your responsibility to manage the interaction cadence.

Was there ever a moment you felt like things were starting to click?  It's a hard industry for newcomers. At what point did you know this was the career for you?

By my fourth year things started to ramp up. I was feeling more comfortable in pitches, seeing familiar faces who knew my name at different network/organization gatherings, and conducting second-round turnover deals from some of the early tenants I represented. That said, 2020 derailed all of that. That year, my focus was on staying in touch with as many contacts as possible–clients or prospects. I held myself to a routine, getting up at the same time each day and working until the same time. Though there is no way to measure it, I believe 2020 was one of the most educational years of my career to this point.

What's unique about your market, San Francisco, that others might not recognize or appreciate?

Though San Francisco is a large city, the overlap between networks within tech and venture is amazing. It makes an 88M SF market feel like 10M SF. We're in the startup epicenter of the world, where companies can go from 3 FTEs to 100 within months. Someone told me long ago; never push away companies at inception because they could easily be the next Google. San Francisco exemplifies the "long game" approach with the businesses built and headquartered here.

What’s your most memorable transaction you've worked on at this point in your career and why?

I would have to say my 90,000 SF headquarter deal in 2021. It won CoStar's deal of the year, which was a proud moment. At the time, San Francisco was surrounded by nothing but bad press. I might be biased, but my technology client led local return-to-office efforts by pressing the full employee-base back in person. In doing so, we leased 90% of a struggling building and brought foot-traffic back to that area of downtown. The impact was immediate, as the employees kept some of the longtime food providers afloat for the tough years ahead.

How do you stay up-to-date with market trends and changes in the industry?

Creating daily habits is important for maintaining knowledge in the industry. I subscribe to every technology, venture and business focused magazine/paper, reading them each morning when I have my "me" time before the family wakes up. Every day I'm interacting with a variety of executives across different business verticals. I believe it's important to be as up-to-date as possible so you can [at least attempt] to talk their talk.

Are there any difficult career moments you care to share? Anything you went through that taught you to be a better broker?

One of the hardest parts of our business is getting clients to sign exclusives. In the world of high-growth startups, they are often run by young professionals who are nervous to sign contracts. I was working with a large tech company from 2022-2024, pursuing a few different complicated opportunities given the Covid era and building debt situations. The requirement was ~50,000 SF, which is always a big deal, but even larger during a time where there wasn't too much tenant movement. After nearly two years of working together and being on the finish-line twice, we had a deal fall apart due to lender denial. Two weeks later, they took a cold call from another firm who quickly inserted them into a deal four weeks later that was never aligned with their criteria. Just like that, we had lost it. It was a tough one to swallow, but I'm a firm believer that if you operate with integrity, that good karma is on your side for the next one.

What advice would you give to new brokers starting out in the industry?  What would you do differently if you could go back in time?

It is a grind. Stay motivated, stay hungry, accept defeat/deflection and learn from it. I was fortunate enough to shadow a veteran in the industry for a few years, and it was very impactful. You'll always learn more in an intimate setting than in a big-house with different training opportunities. It's either experience in the streets or knowledge in the classroom. To each their own, but I believe real-time street experience is how people separate from the competition.

In your mind, what separates high-producing CRE brokers from everybody else?

The desire to make a positive difference for their clients and control their own book of business. Anyone can be a paper-pusher in this industry, either servicing a Senior Partner or receiving "throws" from other external offices. At that point, you're only as good as 10-30% of any deal, at best. The people that crush it in CRE are the ones who go out and control the accounts–they're the ones who delegate responsibilities and determine split amounts. Brokerage firms want people who bring revenue; the only way to do that is to pull in the highest percentage take of any transaction. I have followed this route since my third year in the business and can confidently say I control 95% of my book today.

Are there any common mistakes you see brokers making they should avoid?

It is easy to be buried in paperwork; but real professional growth comes from being out-and-about socially. You have to join each and every network/organization possible to get your name out. Relationships are the backbone of this business.

What do you like to do when you’re not working?

I love hanging with my wife and son, traveling, golfing and being social. Being a husband and dad is my greatest accomplishment.

Tell us about your team.  How do you manage it and how'd it come together?

Currently, I have two others on my team (though we would like to add more). It's not official in writing, but we decided to approach this business as a unit at the beginning of 2025. It's been one of the best decisions of our careers, as each person has a different strength that shows throughout an office evaluation. We meet weekly but also come together for quarterly audits; evaluating the numbers and identifying what worked and did not work. Over communication is essential for alignment; knowing who controls what and who is responsible for managing client interactions.

What impact have you seen technology place on the industry and how do you think technology will continue to impact the business?

Traditionally, real estate firms don't like change. That said, we're in a unique time of history where if you don't adopt the new technology you will fall behind. I believe AI is going to drastically impact our efficiency and effectiveness when it comes to document reviews. The days of taking hours to abstract a lease will subside, leaving brokers with more time to dedicate to business development.

Our thanks to Stephen for sharing his experience and perspective.

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