By Audrey Jensen – Reporter, Phoenix Business Journal
Dec 3, 2021, 6:10pm EST
Before Bobbie Mastracci was known for her work in commercial real estate in the West Valley, she operated her own day spa in her hometown of Pittsburgh, Pennsylvania.
Although she had success running her own salon business, Mastracci said she had always been intrigued by real estate but just wasn’t sure it was an attainable career.
“I can still remember vividly one of my clients sitting in my chair, working on a real estate contract,” she recalled. “I’m like, ‘Gosh, one of these days, I want to be the one sitting in my hairdresser’s chair working on a real estate contract.’”
After 9/11, Mastracci’s husband lost his job, which led her to a new career path — selling homes in Tucson, where she moved in 1998 after selling her business. Initially, Mastracci said she felt intimidated by commercial real estate, “so I thought, ‘well I’ll get familiar with new housing developments,’” she said. “I got hired by Pulte Homes and killed it — I was rookie of the year.”
Eventually, Mastracci and her family moved to Phoenix and helped Randall Martin Homes get started in exchange for learning about land development, she said.
As the housing market started to crash, Mastracci pivoted to land and commercial real estate. After working for Don Bennett & Associates, which she said was the largest West Valley land brokerage, Mastracci also learned leasing and investment sales and eventually earned her CCIM and SIOR designations.
In 2012, Mastracci decided to open her own brokerage, called Phoenix West Commercial LLC, a West Valley boutique brokerage with seven agents that specialize in industrial, retail, office, medical, land and investment sales.
Since 2006, Mastracci has completed lease and sale transactions exceeding $200 million in value and more than 17 million square feet of land and improved properties and co-founded the West Valley Commercial Real Estate Group. She also mentors and coaches her agents, is a Massimo Group commercial real estate coach and sits on the executive committee and board of directors for the CCIM Institute.
Why did you open a brokerage in the West Valley? The West Valley is like Pittsburgh, it’s like home, everybody’s down to earth, it doesn’t feel like you have that competition of ‘Got to keep up with the Jones.’
What are some of the biggest changes you’ve seen since working in the West Valley? The economic development and the diversity, the roads, the infrastructure. The hospital expansion, the entertainment, the quality of life. But what really sticks in my mind for all of Phoenix really is, in our recession — we were so reliant on construction, right? New housing, people coming here, moving here all the time. I remember [Greater Phoenix Economic Council] and [Arizona Commerce Authority], Westmarc, were all like, ‘We can’t just focus on construction and people moving here, we have to diversify.’ They worked on the Foreign Trade Zone and getting all these sites identified in the West Valley, then all the technology and health care and just the diversification of the jobs.
What advice would you give to your younger self? Pursue your dreams and don’t limit yourself on what your goals could be. I think a lot of us shortchange ourselves by limiting our vision and don’t dream big enough. If you don’t dream big enough, you can’t get there. I think the biggest failure is not trying.
What makes an effective business leader? Caring about the others around you and knowing that it’s a team effort and everybody has different strengths.
What keeps you motivated? In my heart, to always give. Helping others create success, helping our clients achieve their goals.
With the exception of your parents, who was your mentor and how was that person instrumental in your life? My husband has been a tremendous supporter and mentor throughout our lives together. He is always behind the scenes helping me through each new idea, new business adventure and investments. We would not be where we are today without his wisdom.