Bobbi Jo Lazarus, Shareholder, Elliott Davis

In an interview with Invest:, Bobbi Jo Lazarus, shareholder at Elliott Davis, highlighted the significant trends shaping the accounting industry and the Charlotte market. She pointed to industry consolidation and a surge of private equity as key drivers. “In terms of the accounting industry, we’re seeing more consolidations and more private equity investments coming into the space,” said Lazarus. “With the right private equity partner, that can only do good things for our industry.”

What do you see as the most significant trends or shifts shaping the accounting industry in Greater Charlotte? 

If you look back over this last year for accounting firms and the Charlotte market, we’re seeing a lot of movement. In the accounting industry, we’re seeing more consolidations and more private equity investments. With the right partner, that can only do good things. We announced a partnership this year, and it’s fantastic to have that outside perspective helping us continue to be who we are. I think others are experiencing the same. 

Pivoting to Charlotte, the transit effort and getting the transportation bill through with the partnership between leadership and the business community was incredible. That’s what makes Charlotte who we are: those partnerships exist.

How do you see Charlotte distinguishing itself from other major markets in the Southeast? 

The reasons I came to Charlotte 20 years ago still hold true. It’s a growing city: vibrant, robust, clean. The weather’s beautiful. We’re seeing 157 new people moving here every day. We’re exploding with growth, and with that, you have challenges. But as a city, collaboration between business, community, and leaders exists in a way that makes us pause and think through those challenges. We’re getting some of them right, and there are others where the conversation needs to keep happening.

What are the key real estate trends that are emerging, particularly around investor sentiment or other market segments? 

Everyone is still bullish on where we’re going. The question is when the floodgates will open. That date keeps getting pushed out. We just need stability. The tax bill came through, so now we know the tax landscape. Interest rates are starting to come down. Continuing that trend toward stability is key. In Charlotte, we need to keep thinking through the regulatory environment, and how do we ensure protocols take place while making the process more efficient? The longer you carry a product, the higher the cost, which translates into higher rent rates.

With developers like Office Commercial expanding into Charlotte, how is competition for capital evolving, and how are you advising your clients to navigate these changes? Charlotte is a hot market. That pulls forward the A-teams. For developers, you’ve got to do it right. The product has to be something you’re proud to put out because your name’s tagged to it. Investors want to be tagged to something they’re proud of, too. So it’s making sure that from start to finish, you’re doing what you said you’d do. Our role is to help them think through the financial landscape — how to put forward the most tax-efficient structure and execute on that policy. Also, from a reporting perspective, if we’ve promised something, we’re meeting deadlines. That makes their equation easier. Cyber is big. AI is this unknown disruptor, and everyone is in different realms of usage. Thinking through that has been a big part of this year.

You’ve talked before about the importance of relationship-driven service. How has technology influenced that? 

I believe AI is not going to replace people. It’s going to position people to be more relationship-focused. We’re making sure our teams are prepared. They’re learning the analytical side and how to engage; how do we come to the table and pull out where the biggest value add can sit? It’s no longer just preparing a tax return or audit. It’s understanding the depths of your business and where we can add value, or plug someone else in.

How are you attracting and retaining top talent within the firm? 

Culture has to be a big component. We do what we say. We’re focused on our people, our customers, and our communities. Without great communities like Charlotte, we wouldn’t be who we are. We understand that, and we want to give back. That’s where our culture comes into play. Going back to AI, it’s about being forward-thinking. We might not have all the answers, but how are we preparing our team? How are we setting everyone up for success? We’re teaching team members how to have value-driven conversations and listen, not just present, and know what toolkit to pluck from when something pops up.

What role is Elliott Davis playing in the broader conversations shaping real estate and tax policy, and in helping elevate the Greater Charlotte region overall? 

Our real estate team is plugged in. You could touch anyone on our team, and they’re holding a role. We’ve got people on the advisory board for the Urban Land Institute. I’m the incoming president for NAIOP Charlotte. We’ve got leadership on CREW. We’re involved with the Alliance, especially around transportation. Public safety is a big conversation. I serve on the Charlotte-Mecklenburg Police Foundation board. We’ve got people plugged in not just from a real estate perspective, but across nonprofits in Charlotte.

What are your top priorities for the next two to three years? Where are you setting your focus? 

We’re focused on delivering service and strengthening relationships. We bring a boutique approach, flexing to meet client needs. We’re exercising that with existing relationships while making sure we’re staffed to help other groups. The other component is making sure our teams are immersed in the market. There are a lot of good things and big conversations happening in Charlotte, and we’ve got to be part of those. We want to be part of the solution and have a pulse on all the moving pieces. We’re picking up on things that will be beneficial to our clients.

What are your final thoughts? 

If the transportation bill and referendum get through, I think it’ll be a big catalyst for Charlotte. We’ll look back and say, ‘Wow, we got it right.’ Even outside of that, we’ve got people who care about our community and getting it right. Public safety is top of mind, and that tells me we’re going to get this right because we care, and we’re not going to let the problem grow.