Local Market Knowledge Proves Critical in Golf Course Real Estate Deals

Written by:

Rudi Davis

Date:

11 Sep 2025

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Keith Cubba, Senior Vice President and National Director of Golf at Colliers International, says his contrarian approach to golf course brokerage, prioritizing local market expertise over pure national reach, has proven key to deal success in the specialized sector.

The Local Expert Imperative

“What I did that was different than the other firms, where the brokers would basically not bring somebody in on the ground as the local expert, if I got a listing in Memphis, I brought in Ron Riley from the Memphis office,” Cubba explains, describing his departure from industry norms.

This emphasis on local knowledge emerged from Cubba’s early observations of market dynamics. “I realized when someone was looking at our market, and knew nothing about the market, but they were speaking as if they did, he’s not in this market, so he doesn’t know,” he says.

Building a Different Platform

Cubba’s approach led to the development of a unique national platform at Colliers, combining broad reach with deep local insights. “Colliers has always been about national reach and local experts,” he notes. “My platform was I had 16-17 guys spread out nationally.”

The strategy paid dividends even on technical aspects of deals. “It paid off, you know, they even if it was just the real estate component of it, you know, title, water rights, things like that,” Cubba says, highlighting how local expertise proves crucial in navigating region-specific challenges.

Early Market Lessons

Cubba’s appreciation for local market knowledge stems from his early career experiences in Las Vegas, where he witnessed the limitations of pure national reach. “Before they really cracked down on it, most of the larger investment sales were being poached by out of state brokers,” he recalls. “Brokers from LA, New York be doing most of the big deals.”

This observation, combined with his background as a competitive golfer, informed his eventual specialization in golf course brokerage. “You owe the client an expert to do it, not someone who’s a neophyte,” Cubba emphasizes, reflecting on his own learning curve in the sector.

Evolution of the Approach

A pivotal early assignment helped validate Cubba’s local-first philosophy. Working with an FDIC receiver on a special asset, he was required to implement an unusually comprehensive marketing campaign. “They insisted that you spend a significant amount of marketing money, like 50 times more than I’d spend on a property,” he recalls.

This experience, combined with his local market knowledge, led to additional assignments and industry recognition. “I got another listing from the largest lender in golf, Textron at the time,” Cubba notes. “Then it just kind of steamrolled.”

Looking Forward

Today, Cubba sees his approach as increasingly relevant given the specialized nature of golf course transactions and the importance of understanding local market dynamics. His platform’s success suggests that even in an increasingly national market, deep local expertise remains crucial for executing complex golf course transactions effectively.