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Here's how you can discuss a raise with your supervisor in commercial real estate.

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Navigating salary discussions can be daunting, but in the world of commercial real estate (CRE), where success often hinges on negotiation skills, it's essential to approach these conversations with confidence and strategy. Whether you're a broker, agent, or property manager, your ability to effectively communicate value and advocate for yourself is as important as closing a deal. Let's delve into how you can discuss a raise with your supervisor in the dynamic field of CRE.

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Dillon Freeman, CFA

Direct Multifamily Bridge Loans | CRE Mortgage Broker

1 Know Your Worth

Before initiating the conversation about a raise, thoroughly assess your contributions to the company. In commercial real estate, this means understanding how your deals, client relationships, and market knowledge have positively impacted the firm's bottom line. Compile a list of your accomplishments, highlighting any significant transactions or client testimonials that demonstrate your value. Approach the discussion with a clear understanding of the unique skills you bring to the table, such as expertise in property valuation, lease negotiations, or market analysis.

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Dillon Freeman, CFA

Direct Multifamily Bridge Loans | CRE Mortgage Broker
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This advice applies just as much to knowing the company’s “worth”. If things are tight and what you’re working on isn’t profitable, it may not be the best timing to ask for a raise. To ask for a raise utilizes precious accrued goodwill with your supervisors and other decision makers. Be strategic when thinking about your value and if it is accruing to the company or not. Asking at a bad time can be a guaranteed no and jeopardize consideration down the line.

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2 Timing Matters

Timing is key when asking for a raise, especially in commercial real estate where market fluctuations can impact a company's financial performance. Aim for a period of strong company results, ideally after you've closed a significant deal or exceeded your targets. This demonstrates your direct contribution to the company's success. Avoid times of economic downturn or just after a major company expense, such as an office move or technology upgrade, when budgets may be tighter.

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Dillon Freeman, CFA

Direct Multifamily Bridge Loans | CRE Mortgage Broker
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It’s hard to consider a raise when you don’t have excess cash flow to pay employees. This is why being knowledgeable about the inner workings of the company, in addition to making you a better employee, are critical to obtaining favorable results. If you’re a squeaky wheel who seems they may quit following layoffs/no raise, you can find yourself in the crosshairs.

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3 Prepare Your Case

Preparation is crucial. Gather evidence of your achievements and know how they align with the company's goals. In commercial real estate, this could include successful lease negotiations, property acquisitions, or portfolio growth that you've facilitated. Be ready to articulate how these successes have contributed to the company's reputation and financial health. Having concrete examples will make your request for a raise more compelling and difficult to dismiss.

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Dillon Freeman, CFA

Direct Multifamily Bridge Loans | CRE Mortgage Broker
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Preparing your argument for a raise also means preparing the counter arguments to understand points of resistance. It also means preparing to negotiate “if today isn’t a good time for a raise, please explain what may change that consideration or give me a list of things to achieve before coming eligible.” This also means having suggestions for the above. Being prepared and self-aware can go a long way compared to “it’s been 6 months and there has been inflation”.

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4 Practice Diplomacy

When discussing a raise, diplomacy is vital. Start the conversation by expressing your commitment to the company and your enthusiasm for your role in commercial real estate. Acknowledge the challenges the industry faces and show that you understand the balance between individual and company needs. Be respectful and listen to your supervisor's perspective, maintaining an open dialogue that allows for negotiation without confrontation.

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5 Consider Alternatives

If a direct increase in salary isn't feasible, be open to alternative forms of compensation that are common in commercial real estate. This could include a higher commission rate, bonuses tied to performance metrics, or additional paid time off. Flexibility in negotiations can demonstrate your understanding of the company's financial constraints while still working towards an arrangement that acknowledges your contributions.

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6 Plan Next Steps

Regardless of the outcome, plan your next steps after the raise discussion. If your supervisor agrees to a raise, clarify the details and express gratitude. If the answer is no, ask for specific feedback and create a plan for improving your performance. In commercial real estate, where market conditions and personal performance can rapidly change, it's important to set a timeline for revisiting the conversation and to continue proving your value to the company.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Christopher Drzyzga

Helping business owners & investors lease, buy & sell office & industrial properties
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Understanding your firm's financial landscape is just as critical as knowing your worth when discussing a raise in commercial real estate. Before approaching your supervisor, gauge the company's economic health and recent project profits. This insight will help you choose the optimal moment for your request, ideally when the company is financially stable and your contributions have clearly influenced its success. In my experience, aligning your timing with the company's positive financial phases increases the likelihood of a favorable response. Remember, timing is not just about your success but also about the company's ability to reward it.

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Here's how you can discuss a raise with your supervisor in commercial real estate.

1

2

3

4

5

6

7

1 Know Your Worth

2 Timing Matters

3 Prepare Your Case

4 Practice Diplomacy

5 Consider Alternatives

6 Plan Next Steps

7 Here’s what else to consider

Commercial Real Estate

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Here's how you can discuss a raise with your supervisor in commercial real estate.

1

2

3

4

5

6

7

1 Know Your Worth

2 Timing Matters

3 Prepare Your Case

4 Practice Diplomacy

5 Consider Alternatives

6 Plan Next Steps

7 Here’s what else to consider

Commercial Real Estate

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