IOREBA marks 100 years in commercial real estate

The basics:

• IOREBA celebrates its 100th anniversary in 2026
• Bree Manchanda is the group’s third woman president
• Association now has more than 200 members
• IOREBA is focused on education, mentoring younger brokers

The largest and oldest real estate brokers association in the U.S. has served the local metro area for 100 years. Over its century of fostering networking, education and professional development, IOREBA has remained integral by adapting to weather market changes, exploring new technologies and investing in the next generation of talent.

The Industrial and Office Real Estate Brokers Association began with 33 members representing New York City, Hoboken, Jersey City and Newark. Today, the count tops 200 members located across New Jersey, New York, Pennsylvania, Connecticut and other states in the region. Though the group officially launched in 1927, its founders first met in the year prior.

Amid its milestone anniversary year, IOREBA is looking to its next generation of brokers while navigating an industry reshaped by COVID, changing deal structures and AI. IOREBA installed its 2026-2027 Executive Board during this summer’s 57th Annual Golf, Tennis & Pickleball Outing:

• President: Bree Manchanda, commercial designated managing broker of NJ, eXp Commercial
• Vice President: Jim McGuckin, regional manager, New Jersey office, Marcus & Millichap
• Secretary: Josh Glussky, assistant vice president, Sheldon Gross Realty
• Treasurer: Giovanni Ramaci, associate, NAI Hanson

Manchanda’s appointment is noteworthy: she’s just the third woman to lead the board in its history. Mildred Hanson served as IOREBA’s first woman president in 1990–1991 while Cynthia DePetro-Saypol held the post from 1994–1996.

NJBIZ recently caught up with Manchanda to discuss the centennial, creating a collaborative ecosystem and what’s ahead. That conversation continues below; the questions and answers have been edited for clarity.

NJBIZ: How did you first get involved with IOREBA and how did you end up becoming president?

Manchanda: Coming out of COVID, like so many organizations, membership was a struggle and finding people to fill those positions was a struggle. I’m very active in the networking world myself, and I had met Jeffrey [Greif, First American Title] and he had said to me, ‘Would you consider this? I think this would be a good opportunity for you.’ And that’s his forte. He helps people find opportunities.

Q: You’re the third woman to lead IOREBA and the first in 30 years. How significant is that visibility? Since you’ve been on the board, has the board focused on reaching out to more women specifically?

A: Like all organizations, it has its struggles. The commercial real estate industry is well known for being a man’s industry. So, I think introducing more women to IOREBA has been beneficial. … I am the third woman [to be president]. Millie Hanson was the first woman, and that’s huge.

Yes, I have more women that come to events now and that have expressed interest in participating with IOREBA. One of the hardest things to grow are the new members … So we’ve taken a multi-pronged approach in trying to work to bring more women in. And then during the centennial anniversary, we’re going to run a membership drive that for $100 …

Q: How has IOREBA remained relevant over its 100-year timeline?

A: We’re trying to compile all of our historical information for IOREBA, and there’s not a lot there for us to compile. And I speculate that back in 1926, when these men got together to form this organization, I don’t know if they ever felt that it was going to make it 100 years.

Then take it close to 100 years and you go through COVID and now you’re looking at – can I even survive this? So, to go through that … and to come out on the other side as the oldest commercial networking organization in the country. That’s a testament to the resilience of the brokerage community to ensure that these groups continue on, and continue to grow and continue to be a resource for the future brokers coming into the industry. …

[Persevering through COVID is] a testament to the resilience of the brokerage community to ensure that these groups continue on, and continue to grow and continue to be a resource for the future brokers coming into the industry.
– Bree Manchanda, president, IOREBA

We’ve remained an organization very focused on our local market and in growing those brokers and giving them education. That’s one of the biggest foundations for IOREBA; is that we are hyper focused on education. Education of our members, education through panel discussions, education through events and torus and meetings with people. Being on boards, getting involved in other committees. These are the foundations that grow the success of these types of groups.

Q: You spoke about COVID and the brokers that are at the heart of everything, the resiliency of them. Commercial real estate has changed dramatically over the past century. What changes have had the biggest impact on the brokerage business?

A: I think the industry has grown to encompass more markets, more specific buyers too. … And you have more availability and more networking groups now for brokers to participate in the market and be able to survive. I think commission rates have definitely changed over the years … landlords are less inclined to just pay brokers right in full upfront. They want to know that the tenant is solid, that they have a good deal, that things are going to operate well, and all of that I think gets negotiated a little bit more now …

We’ve had how to draft a listing agreement to make sure you get paid, because how many brokers end up fighting over commissions. So, trying to really provide additional accessories to the brokerage community.

Q: We’ve talked a lot about education and networking. What role does IOREBA play alongside other business groups operating in the regional ecosystem?

A: More than 80, 85% of your deals are done co-brokered. And it’s crucial to say if you have a client and you’re bringing in potential deals and you can say to your client, “Listen, this deal with this broker, I’ve done deals with him before, he gets deals across the finish line’ … If you have a client that’s not sure what to do, you’re going to always lean into the person who you know, like and trust, and you have a history of working with. And coming together in these groups helps facilitate that.

Q: What does IOREBA have planned for the 100th Anniversary Gala taking place Oct. 15 in Garfield?

A: It’s a three-hour cocktail hour, and we’re going to have a small presentation session where we’re going to honor [Geoffrey] Schubert as a lifetime member. We’re going to honor Hanson as a contributor to IOREBA’s success. And we have some other mentions that we’ll make.

Q: What does the future look like for IOREBA? How does the organization engage the next generation of brokers?

A: I think most integral to it is growing the membership base and introducing the younger brokers to these organizations as they’re coming out of school. So, IOREBA has a great relationship with Rutgers and Monmouth University.

We provide an endowment to Monmouth. And for Rutgers, we always invite their real estate society students to our events. … It opens them up to real life experiences that they otherwise wouldn’t get in a school setting. I have seen them be recruited for jobs. It’s great to see, because working in the real estate industry, you need a very strong education foundation, but you also need these social skills that allow you to participate in the industry. …

The other part of that is providing mentorship. So, the individuals who have been in the organization and in the industry — they need to continue to participate in these events so they can mentor the younger brokers coming in and give them solid footing. And then providing good quality events, good education, good social events that allow these brokers and the vendors to interact in a place where they can talk about a transaction, talk about what they need or want for a client and give them those opportunities.

Q: What does AI mean for the value of networking and face-to-face relationships in commercial real estate?

A: You can pretty much get any answer from AI, but you can’t get the in-depth conversation you would get from somebody who’s been there, done that, experienced it, and had to figure out how to work around your specific nuance in this transaction that you’re trying to work out. I mean, I lean into AI too. I think we all do now. … And I think it’s going to be very useful in our industry … but it should work hand in hand with us in the industry. It shouldn’t be used to replace us.

Q: What’s ahead for IOREBA over the next 100 years?

A: Reaching this milestone I think is a testament to the industry as a whole, and it’s absolutely necessary to be out there and to be networking. … It’s very difficult to do this industry if you don’t do that. And I think growing us into a more modern organization that has the ability to stay rooted in its regional and its local information; to really be a source for those brokers coming into this area, but also to be able to help those brokers reach new levels. … It shows diversity in your business practice and that you make efforts to make sure that you’re going out there to do what you can for your clients to find them spaces or find them people to take their spaces. I think that’s really where I see the excitement for IOREBA.