D
evon Dvorak made a significant career move in March 2024, transitioning from JLL to Colliers. He joined the company alongside Adam Haydon, Dan Linnell, and Mox Gunderson, forming a powerhouse team that has collectively sold over $3 billion in multifamily assets across the Midwest since 2019.

    Dvorak's passion for real estate began unexpectedly while studying finance and entrepreneurship at St. Cloud State University. He took a real estate class, which sparked his interest, and eventually landed an internship with JLL through the help of his professor. The internship turned into a full-time position, and after four years, Dvorak became the director of multifamily capital markets.

    At Colliers, Dvorak has become the go-to expert for selling multifamily properties in the outer suburbs of the Twin Cities and St. Cloud. He attributes his success to the supportive team he works with, who encouraged him to grow and learn under their guidance. "They said I would earn my Ph.D. in two years," Dvorak recalls, "and it was intense, but also incredibly rewarding."

    Dvorak's advice for those looking to break into the industry is to find mentors who will support and guide them. He emphasizes that hard work and a willingness to learn are key to success in real estate. "Everything becomes easy when you're surrounded by people who want to help you grow," he says.

    In terms of market trends, Dvorak notes that the exurban areas outside of the Twin Cities have unique characteristics. Depending on the location, demand can be higher and inventory lower, leading to more aggressive buyers. However, return expectations vary depending on growth rates and demographics, with higher-growth areas near lakes and cities often commanding lower returns.

    As a seasoned broker, Dvorak's insights offer valuable guidance for those looking to navigate the multifamily market in the Midwest. His passion for real estate is evident, and his commitment to mentorship and teamwork has made him a respected figure in the industry.