In an interview with Midland Times, Justin Dodd discusses the journey of building NRG Realty Group into an industrial real estate firm based in Midland, providing real estate solutions and facility management services across the United States. Dodd shares insights into the challenges, strategies, and values that have shaped both his career and the success of NRG Realty Group.
MT: Tell us about yourself.
My name is Justin Dodd. I grew up in San Antonio and I lived there up until I was 18-years-old, and from there I moved and attended college at Baylor University. I did an extra half lap at Baylor, so I graduated in December 2009. I double majored in real estate and finance.
Growing up, my dad was in the oil business and he worked on the exploration and production side, so I was always interested and fascinated with the oil and gas industry. He would always tell me, “Do not go into oil and gas – We are not going to work together, so go do something else.” After graduating from Baylor, I moved to Dallas/Fort Worth and found a job with a company that did commercial real estate. Ironically, that company primarily worked with oil and gas companies, despite my dad's advice.
MT: What were some of the key challenges you faced when establishing NRG Realty Group in the competitive commercial real estate market here in the Permian Basin?
I think one of the hardest things that I was faced with was that I was an outsider. I had a lot of relationships that I had cultivated and built in Houston, which is the epicenter of where a lot of these companies are based, but coming out into the Midland/Odessa area, I had no family ties or connections. I had to build relationships basically by proving myself and continuing to show up. There is definitely a good ol’ boy network here.
MT: With over 400 office and industrial deals under your belt, what strategies have you found most effective in serving clients?
I believe the key is truly understanding what the client is looking for. This starts with asking the right questions and carefully listening to their needs, concerns, and goals. By doing this, we can tailor our approach and offer solutions that align with their vision. It's not just about closing a deal—it's about building trust and providing value that meets their specific requirements. This client-centric approach not only helps in successfully serving them but also helps create long-term relationships, leading to a high rate of returning clients.
MT: How has your experience in the oilfield influenced your approach to commercial real estate and the success of your company?
Growing up, I saw firsthand the opportunities within the oil and gas industry. I knew early on that I didn't want to be a baseball or football player—I wanted to be involved in oil and gas. I also witnessed the industry's highs and lows and how they impacted my parents and shaped their approach to hard work.
I was fortunate to have a father who ran his own business. I remember he never drove a new truck and wore jeans that were probably 20 years old. He would often say, 'I don't want my employees seeing me in a new truck.' He always emphasized doing the right thing and being honest. His integrity was so high. Those values are what I want NRG to embody and I want it to be a company built on integrity and strong values, which are key to our success.
MT: What qualities do you believe are essential for success in the industrial real estate sector, especially within the energy industry?
Honesty is incredibly important. You have to be able to communicate both good news and bad news. Sometimes, things go wrong with a deal, or an issue arises, and you can't shy away from addressing it. One of my favorite sayings from another business owner is, “I can handle bad news, but I can't deal with nonsense.”
It's also essential to be highly knowledgeable about the market. That means putting in the hours to understand the value of a property and what the company's occupants want and need. I became obsessed with the market and trends—I wanted to know everything happening in the market, from lease and sale prices to who the tenants and sellers were. I strive to instill that same level of dedication in our agents at NRG Realty Group.
MT: What are your future goals for NRG Realty Group?
We recently launched a Property Management division and brought on Jordan Hall as our Director of Property Management. In recent years, our clients frequently asked about property management and project oversight, whether for expanding buildings or new facility construction. This area has represented a significant growth opportunity for us. This year so far, we've already onboarded four new agents, and our plan is to attract more skilled and hardworking agents to drive our company's expansion and success. Adequate support staff is crucial to ensure our agents' success, so we plan on hiring another transaction coordinator to help support all the agents.
To learn more about NRG Realty Group, visit their website at https://www.nrgrealtygroup.com/.