Episode Transcript
Austin: Hey everybody, welcome back to another episode of the Off Market Podcast. This week, we have Allison Chapleau, the number one listing agent for multi-unit buildings in San Francisco. She has over 20 years of experience in the multi-unit, mixed-use, and commercial space and has closed well over a billion dollars worth of properties. She currently serves as Senior Vice President at Compass Commercial Brokerage. If you're looking to buy or sell multi-unit buildings in San Francisco, Allison's your gal. Allison, welcome to the show.
Allison: Hey, thanks Austin. So nice to connect with you.
Austin: Yeah. So tell us, how did you get into real estate? I know you graduated from the University of San Francisco. You got your BS in Business Administration, minored in finance, and then jumped into real estate. How'd you get into it?
Allison: Yeah, well, I went to USF and graduated in 2002, which was right before one of the first downturns in 2004. Vacancy was at 0% in San Francisco—it was hard to get an apartment, hard to get a job. I was selling perfume at Macy's, running around with an internship at UBS, and doing a little bit of everything. My mom put me in contact with a broker who used to work at Marcus & Millichap. He'd become an owner, and he said, "Yeah, sure. I'll go to lunch with Allison." Went to lunch, and he told me, "I think you're gonna be a great agent. You should be an agent." I didn't really know what that meant, but he introduced me to someone at Marcus & Millichap in San Francisco who was looking for an assistant.
At 22 years old, with maybe 10 bucks to my name and $100,000 in credit card debt, I needed a job. The guy asked, "How do you feel about being a real estate agent in a male-dominated world?" I didn't know it was a male-dominated world. I just needed a job. I told him, "Well, I surf competitively. I'm usually one of the only girls on the surf team. I think I'm good." They hired me on the spot and fired the guy they’d hired the day before.
I started working for a top agent, doing everything from running errands to managing listings, copying keys, and listening to everything. They had an internship program where I earned $400 a week with an 18-month contract. I learned to cold call, manage listings, water plants, and get cars washed. It helped me learn San Francisco, and I realized I loved real estate. I understood why people were buying properties and knew I wanted to own some myself. If you don’t want to own real estate, you’re in the wrong job. That’s my story.
Austin: I love it. So, take us back to that first deal. After the internship ended, you got your first deal. Talk to us about that.
Allison: The internship ended, and the guy I worked for said he didn’t think I had what it took to be a real estate agent. So, I was sitting in the kitchen—Marcus & Millichap was out of cubes, so they put me in the kitchen—and made friends with the receptionist. One day, a guy called to sell a mortuary in Weed, California, and the receptionist passed the lead to me. I had no idea what I was doing, so I asked Vince Schwab, a top commercial industrial broker. Vince agreed to split the deal 50/50 and needed flying hours, so he flew up to sign the listing. I did all the legwork, and nine months later, we closed the deal. My commission was $80,000—the exact amount of credit card debt I had. After that, I knew I had to keep going because I needed the money.
Austin: After that first deal, it sounds like you started finding your niche in multi-unit buildings. How did you transition into that space?
Allison: It took a while. I didn’t focus on San Francisco real estate until around 2010, during the financial crash. Before that, I sold everything—Dunkin' Donuts, Church’s Chickens, a fourplex in Long Beach. I was 22 and would take any deal. I brought other agents in on every deal, always co-listing and learning from them. I wasn’t greedy—I knew I’d be okay, so I focused on building relationships.
By 2007, I earned Rookie of the Year at Marcus & Millichap. Cold calling wasn’t my favorite, but I needed to survive, so I muscled through. I started a networking group to meet clients and did anything I could to connect with people. This was pre-internet, so my cold calls sounded like, "Hey, this is Allison Chapleau from Marcus & Millichap. I saw a 'For Rent' sign on your building." There was no Instagram to promote yourself back then.
Austin: Right, you had to build your own brand before social media made it easier. Still, it’s not easy today. Half of all agents didn’t sell a single deal last year. What do you think those agents are doing wrong?
Allison: If you’re focused on your results today, tomorrow, or this quarter, you’re not going to serve your clients or grow your business. I recommend making a business plan and farming—doing small things consistently over a long time. None of those small steps are hard by themselves, but they compound over time. I’m good at marketing, connecting with people, and trusting my intuition. I categorize leads by their time horizon: people who might do something in 2-5 years go into one list, those with a 10-year horizon go into another. Everyone is valuable, and I focus on long-term relationships.
Austin: Farming is something many agents don’t fully understand. Can you share some tips and best practices?
Allison: Farming is all about the data—knowing who you’re trying to reach and having a goal. One of the biggest mistakes agents make is trying to hit 10,000 people at once. It’s better to start with 500 people. Farm those 500 people consistently, and once you generate enough business, expand to 1,000 or 1,500. Farming isn’t about one big postcard campaign—it’s about being consistent. Even if someone throws your postcard away, they still saw your name.
For example, I’m currently selling a building on 24th Street in Noe Valley. The owner’s family has had the building for 80 years. When I asked how they found me, he said three different people referred me—one was a family friend whose agent recommended me, another was someone who received my marketing, and the third was a friend who owned another building. Multiple touchpoints over a long period led to that listing. It’s about staying in front of people until the timing is right.
Austin: That makes sense. Shifting gears, what are some of the strengths that have helped you become one of the top agents in San Francisco?
Allison: I believe we’re all connected, and manifestation is key. Whatever I see or focus on, I create. For over 10 years, I’ve started each day by thinking about who I want to connect with and how I want to grow my business. Now, it's not just about buildings—it's about helping other agents grow their businesses, especially women who want to break into commercial real estate. Commercial real estate allows for more control over your schedule, which is great if you have kids or want more flexibility.
Austin: You’ve also shifted your approach to coaching. Can you talk about that?
Allison: Yes, instead of building a large team under the Chapleau Group, I now partner with other teams to be their commercial arm. For example, if you’re a residential agent in Palm Springs and need help with a commercial deal, you can call me. I take a small percentage and help you with pricing, strategy, or connecting with the right commercial broker. This approach allows me to help more agents grow their businesses without building a large team of my own.
Austin: What are the main differences between commercial and residential real estate?
Allison: The biggest difference is that you live in residential properties, but you don’t live in commercial properties. Selling a home is more personal and emotional because it’s where you live. Selling a commercial property is more about cash flow and investment returns. It’s less emotional, and the process isn’t as personal. I respect residential agents because their clients are much more involved in the process. In commercial real estate, clients usually aren’t thinking about the property every day—it’s just part of their investment portfolio.
Austin: I love asking this next question: If you had five minutes with your younger self, what advice would you give?
Allison: I’d tell myself that everything is going to be okay—just focus on the next right step. There's no need to panic because success is a long road. Most importantly, I’d emphasize the importance of relationships. Some of the people I met at Marcus & Millichap in 2002 are still part of my network today. Successful people want to help others. I didn’t realize that in my 20s, but now I understand that helping others is key to success.
Austin: I love it. Thank you so much for coming on the podcast, Allison.
Allison: Thanks, Austin. I appreciate it.
