You're new to commercial real estate. How can you develop your business development skills?

Find an entry level job with an expereinced Property Manager or Project Manager. Shadow the, ask questions and continue helping wherever you can. You can learn more doing the work and observing the work than you can online or in a book

Be PASSIONATE about the sector you choose! Make calls, ask questions, seek to contribute, and Listen..... do it again and again!!!

Take the initiative to conduct market surveys and interviews with stakeholders in the commercial real estate (CRE) sector, including property owners, investors, tenants, and industry experts. Gather insights into their needs, preferences, pain points, and perceptions about the market dynamics. By systematically collecting and analyzing data from market surveys and interviews, you can gain a comprehensive understanding of the demand-supply dynamics, emerging trends, and areas of opportunity within your target market.

In the beginning, investing the time to really learn your market block by block can have lasting dividends. You drive by or walk into the properties and note the tenants and the building owner. Once back in the office or offsite, you do the research to uncover any connections or key events in the near future (lease expiration, payment step up, etc) and begin to reach out to the key decision makers. By doing this as a beginner, you are leveling up learning how to grow your business, better understand your niche market and doing the work of value-add business development. Over time, these activities will make you a market expert with a dynamic professional network that will lead to making deals.

Knowledge and research. In order to develop business you must know how to analyze it and then know where the deal best fits. Without that you will lose every deal you worked hard to get. It's that simple.

As a younger member of the property / real estate community it can be a struggle sometimes to network. Imposter syndrome, lack of confidence etc all play a part but don’t worry about those as they stay with you and hugely successful people still say they have such worries. My tip is to find a friend in a similar position and double date. If you are an agent they could be an architect or planner for example. Go to events together. Agreeing to accompany someone makes you less likely to pull out. Think differently. If you like cycling for example organise a trip out. Have a dog? Arrange a group walk. Networking doesn’t have to be around booze, at night or old man’s golf!

Participate in industry-specific events and conferences focused on commercial real estate (CRE) to expand your network within the sector. These events provide opportunities to connect with professionals from diverse backgrounds, including developers, brokers, investors, and lenders. Engage in conversations, exchange business cards, and follow up with contacts to nurture relationships and explore potential collaboration opportunities.

In the realm of commercial real estate, mastering networking is key. ? Online or offline, focus on building a strong personal brand and making genuine connections. ?? Add value and foster trust in every interaction, and soon enough, you'll see leads flowing in. ?? Remember, it's all about making lasting impressions. So, go on, confidently navigate those networking waters! ??

Network = Networth - Network with people from the "same table": When starting out, connect with people "in the same field" to gain insights and knowledge, absorb their knowledge as much as possible. Learning from others in your industry helps you understand the business and increase your industry knowledge much faster. - Network with people "across the other table": As you gain experience, expand your network to include professionals from "diverse fields" such as accountants, lawyers, financiers, bankers, and valuers. They are your most valuable referrals to grow your business. - Aim for Win-Win situation for all parties involved: Consider What You Can Offer: how you can add value to your referrals and help them to win more clients.

Meet like minded people and introducers get your name known in the market. Attend networking events and share your business card Upskill your knowledge by attending sector seminars

Pitch deck/offering memorandum creation is critical as it's the first impression you give to potential investors you are asking for FIVE and SIX figure dollar amounts! Does your deck look cheap because you used a free template and have no clue about graphic design? Does your deck fail to convert because hired a foreign VA to make the deck "pretty" but who knows nothing about real estate? These marketing assets are just that: assets. Do it right by using an experienced designer who knows how to tell a real estate story, what investors and clients are really looking for, and what you might be overemphasizing or missing in your deck that forms the foundation for your entire pitch!

Regularly seek feedback on your pitch from mentors, peers, and prospective clients to identify areas for improvement and refinement. Actively solicit input on the clarity, effectiveness, and persuasiveness of your pitch, and be open to constructive criticism. Use feedback to iterate and refine your pitch, focusing on enhancing its relevance, resonance, and impact. By continuously refining your pitch based on feedback, you can tailor it to the preferences and priorities of different audiences, increasing its effectiveness in generating interest and securing business opportunities.

In my experience, precision and emotion both play crucial roles in crafting a compelling pitch deck for potential investors. Precision ensures that your presentation is clear, concise, and backed by solid data and analysis. This includes providing accurate financial projections, market research, and a well-defined business model. On the other hand, emotion helps to create a connection with your audience and engage them on a deeper level. This can be achieved by telling a compelling story about your offering, highlighting the problem it solves, and illustrating the potential impact it can have. Incorporating elements like testimonials, case studies, and visual imagery can also evoke emotion and make your presentation more memorable.

Master your ONE Sentence Pitch. It comes in handy all the time. Introduce yourself in one sentence "packed with value". e.g. "I am a software engineer, I help companies to automate their tasks, so they can save time on repetitive work and minimising errors." (Who I am + How I solve their Problems + How I add value) When meeting new people, they often ask about what you do for work. It is important you have your one elevator pitch ready. There is no point in telling them that you are a CEO; it does not relate to them. However, explaining what you do to help people makes a lot of sense, and give you confident on what you do.

Don’t pitch. Listen. Activity listen. Listen to your potential clients and people in your network. Ask them questions about their business and themselves and give them CRE stats and market knowledge based on their responses that is of value to their situation. Everyone likes to talk about themselves. If you’re pitching they aren't engaged. We tune it out. Get them talking and then provide CRE based feedback, stats, and solutions that are pertinent to them. You’ll have much better results when you’re responding with focused data in line with their unique situations than a basic pitch. An elevator pitch is fine. “I buy, sell, lease buildings for my clients. Simple and easy then get back to them talking.

Follow-up and follow-through are indispensable skills in commercial real estate business development, involving staying in touch with prospects and fulfilling commitments. Utilizing CRM systems for tracking interactions and setting reminders ensures efficient management, while maintaining professionalism and responsiveness in communication fosters trust and loyalty. Prioritizing these practices contributes to long-term success by nurturing relationships, generating referrals, and enhancing the reputation of the business.

Following up is what people who’ve been ghosted say. “I’m following up on…” Message with a purpose. Send them market data. Shoot them a building that sold or a lease that was signed near them. If they’re growing send options for larger buildings. Act as if you are already their CRE professional. Send them market data. Send them industry news it’s pertinent to their line of business.

Another good point is to follow up! A feedback is everything...whether a negative or a positive one Getting to know what your clients want and what they they think is very important This csn help.you find out ways to be able to render a service to them according to what they prefer

Follow up and follow through are fundamental to the survival of any business related to real estate. Commercial real estate being no different. A database of existing and potential client is absolutey necessary and a program of reaching out and tracking client readiness is essential. The CRM is vital in this regard and frquent "Pop-Bys" event just to say hi to clients is an added method that is useful. Make it a habit to stay in touch and fulfil promises

Don't be afraid to follow-up. The art of having a conversation is so valuable here too. Ie don't hide behind email, don't just send a chaser email, pick up the phone, build rapport and in turn that makes follow-up so much easier

As a newcomer in CRE, learning & improving is essential. 1) Educate yourself. The hallmark of a successful CRE professional lies in recognizing personal growth areas & proactively pursuing educational opportunities. Beyond foundational training provided by your firm, platforms like The Academy of CRE, LinkedIn Learning, & Udemy are invaluable resources, offering a wealth of courses designed to elevate your expertise & keep you at the forefront of the industry. 2) Network. Build relationships within the CRE community. Attend industry events, join real estate forums, & connect with experienced professionals on platforms like LinkedIn. 3) Stay informed. Read industry publications & reports to stay current on market dynamics & trends.

Never stop learning. Never stop updating your market knowledge. Learn about the industries of your preferred clients. Develop concepts and ideas that you believe would give them an edge on their competition. Go for your designations. Talk to senior brokers. Go to conferences. Learn about CRE financing. Live in the industry.

As a newer professional in CRE??, I love to evaluate my performance and gather feedback to improve. Staying informed on industry trends through networking??, courses??, workshops, and reading keeps me ahead of the game! ????

Several organizations offer workshops or training programs specifically on crafting and delivering commercial real estate pitches. Look for programs from organizations.

Una parte esencia de aprender y mejorar mis servicios inmobiliarios, ha sido ser miembro de un grupo o asociación inmobiliaria, ya que allí te ofrecen capacitaciones, reuniones, eventos profesionales y contactos muy valiosos.

Don't underestimate the power of transferable skills. By effectively showcasing your existing strengths and actively seeking opportunities to learn and grow, you can segue into the world of CRE. For example if you have Project Management experience, your expertise in setting deadlines, tracking milestones, and ensuring smooth project flow can be invaluable when collaborating with property managers on ongoing renovations or tenant improvements.

In CRE business development, embracing calculated risks is key. Educate yourself on market trends and potential opportunities, using this knowledge to weigh the benefits against the risks. This informed approach enables you to identify ventures that, while potentially challenging, offer substantial growth potential. Learning from seasoned professionals and analyzing successful case studies can guide your decision-making process. By taking educated risks, you position yourself for innovative successes, setting your business apart.

One thing that i see missing again even with the famous consulting firms. Few people are willing to really understand the real estate development process end to end. It is hard to find people who are really experts and can handle a in-depth conversation. Put in the work and you will earn the respect。 If your are an expert. i will happily engage with you. i work on government projects in Riyadh, Saudi Arabia.