You're starting a career in commercial real estate. What's the biggest mistake you could make?

When starting out, the biggest mistakes you can make are not seeking mentorship, trying to do everything yourself, and not finding a niche to become an expert in. On top of all this, expecting immediate results is a sure way to become burnt out. You need to have a long term outlook and invest heavily into yourself, your skills & education, and your relationships to have long term success!

A especializa??o em um nicho de atua??o, ou seja, dominando profundamente o negocio do seu cliente, é muito importante para um atendimento de excelente nível, aumentando suas chances de fechar negócio e ao longo dos anos criar sua marca pessoal.

Starting a career in Commercial Real Estate is exciting and offers many growth opportunities. Never pigeonhole yourself in one area of practice from the start until you have worked in all disciplines of Commercial Real Estate. A long successful career is dependent on how excited you are to start your day and how much you enjoy and love what you do. Find Mentors in different practices and ask if you can intern under them, you will find which discipline challenges and excites you.

The first law of attraction in commercial real estate is having a clear and specific niche. While it may be challenging initially, it pays off in the long run, as each type of commercial property requires different knowledge, terms, and confidence levels. For instance, handling small office spaces differs significantly from managing large office buildings. Embrace a specific focus, whether it's office, retail, or special-use properties like gas stations or hotels, or unique ventures like wineries or medical offices. This focus will pay off when clients seek you out instead of you having to prospect for clients.

On the advisory side of the industry, a niche can be a key differentiator which will help you and your services to stand out to potential clients. If you are considering a switch to the the principal investment side in the future, it can be valuable to keep your options somewhat open. One way to do so is to gain experience in some of the major property types (e.g. industrial or multifamily) early on. Be wary of niching down too aggressively or too early if this is an option you want to keep open, as there can be a risk of pigeonholing.

It doesn't matter if it's Commercial Real Estate or Residential Real Estate, getting started in Real Estate and being successful will always come down to your network. Starting it, growing it and maintaining it! It's a never ending process. Don't sell to your network, bring value to it. You'll find greater success when people seek you out vs trying to convince people to work with you.

Real estate is a networking game, It’s like a chain in which you are a small block bigger the network more deals you have! ????

"Your network is your net-worth" is a phrase that sounds somewhat cheesey, but is oh so true. A network provides support, noise (people who champion you ), referrals, and so much more

Networking feito de forma correta, com uma troca genuína, é fundamental para construir uma carreira no CRE. E é uma carreira na qual sua performance orá melhorando ao longo dos anos. Mas leva tempo, por isso é importante estar em time que acelere sua curva de aprendizado.

Starting a career in commercial real estate without building a strong network is a pivotal mistake. Networking fuels opportunities, insights, and partnerships essential for success. It's through connections that you unlock potential deals, gain market intelligence, and foster relationships pivotal for growth. Neglecting this can isolate you from invaluable resources and mentorship. Start by engaging with industry veterans, attending relevant events, and utilizing social media to build your network. Remember, your network's strength can significantly influence your career trajectory in commercial real estate.

The biggest mistake you can make in commercial real estate is misrepresenting your position in any given deal. Cooperating with other professionals is a key component of this business and your reputation goes far in determining the extent to which your peers choose to cooperate with you.

Couldn't agree more! One effective way to stay on top of this is to focus on the methods of education that you enjoy the most. This way you will form positive and momentum-building habits that stay with you throughout your career. You'll know you're on the right path when it starts to feel like a hobby / interest in itself. Stay curious!

Educating your self is one of the critical pieces in CRE. Studying your local market, national trends as well as being involved in government affairs. Understanding the priorities of the Metropolitain Planing Organization and how the projects in your area impact acquisition and disposition of assets. This ties in with the cycles and in turn growth of the market. There are a multitude of educational classes out there, none as well rounded or critical as CCIM’s training, as well as courses on Costar’s platform, and through other professional organizations. Top podcast list ESG insider by S&P Global, Americas Commercial Real Estate Show by Michael Bull, Commercial Investment Real Estate Podcast by CCIM, Inside CRE by NAIOP.

Se manter atualizado, melhorar suas competências, acompanhar as tendencias de mercado, possivelmente as antecipando, manterá sua performance em alto nível. Escolher os melhores canais ajudará na economia dos esfor?os para isto.

Focus on CPD days relevant to your area of practice and enrol on longer courses through your professional body for example RICS do some excellent courses in commercial property, valuation and expert witness. Never stop learning!

Know your client "avatar" and maintain a presence in the areas that they frequent, online and offline. Become their one-stop-specialist by growing a system of offerings and services over time to address their current and potential future needs. You'll know you're on the right track when you start to generate organic business and referrals for clients that match your chosen "avatar" category.

Ever heard the joke about someone handing a real estate license instead of a driver's license to a cop? The point is, real estate licenses are everywhere. Without a strong value proposition, everyone claims to have one. In real estate, each day brings unique challenges involving buyers, sellers, agents, brokers, attorneys, and various professionals. And don't forget the brothers and sisters of prospective clients.

Not having a clear value proposition is a significant misstep. Your value proposition differentiates you in a competitive market, showcasing your unique strengths, services, and the benefits clients can expect. Without it, attracting and retaining clients becomes a challenge, as they struggle to understand why they should choose you over others. A strong value proposition helps you target the right audience, communicate effectively, and build trust. It clarifies your expertise, whether in niche markets, investment strategies, or property management, guiding your marketing efforts and decision-making process. Establishing a clear value proposition early on is crucial for long-term success and client satisfaction.

Seu valor é resolver o problema (dor) do cliente. Por vezes o cliente n?o sabe direito o que é melhor para ele... você será excelente se trouxer a clareza do que ele realmente deseja para ent?o buscar no mercado a solu??o. N?o pense na comiss?o, pense em resolver de forma surreal o que o cliente busca. Torne-se singular, e mantenha relacionamento com o cliente pelas redes socias para seu conteúdo ajudá-lo... você terá recomenda??es e até negócios recorrentes. O corretor pode ser o médico da família...

Not managing your time and money effectively can be detrimental. Success hinges on allocating these resources wisely. Failing to budget may lead to overspending, endangering your business's viability, while poor time management can result in missed opportunities and unsatisfied clients. Prioritize tasks, establish clear financial objectives, and stick to a budget. Investing in tools and strategies that enhance efficiency is essential for thriving in the competitive real estate market.

A cria??o de relevancia no mercado de CRE demora tempo, de forma que é necessário um bom planejamento financeiro para ter f?lego para chegar lá, e entender que um novo negócio pode demorar a acontecer, de forma que ate criar uma recorrência de negócios, importante ter reservas para fechar os ciclos.

CRE is a demanding and unpredictable field that can take a toll on your time and money. You need to be able to balance multiple tasks, projects, and clients, as well as cope with the highs and lows of the market cycles. You also need to be able to budget your expenses, track your income, and plan for your taxes, retirement, and emergencies. You should manage your time and money by setting realistic goals, prioritizing your activities, delegating or outsourcing non-core tasks, automating or systematizing your processes, and using tools and apps that can help you organize and optimize your resources.

‘Asking for help’ is a valuable lesson I've learned. While achieving goals independently or with a team gives a sense of achievement, it's not always feasible due to resource limitations or lack of expertise. While it's natural to attempt solutions on our own, recognizing stagnation and time constraints should prompt us to seek help for the greater good. Asking for help is not viewed as failure, instead it shows the ability to handle a crisis. RA / CRE being a niche domain, it is very natural to seek help.

Find a mentor!!! I have had the pleasure of having three owners of CRE investment companies on my Do You Ever Wonder podcast who are all members of the Massey Knakal Holy 29 Leadership Tree! They came into the business and learned from leaders who taught them one proven way to achieve success. Find your proven mentor!

Asking for help is in itself a skill ... knowing when to ask and who to ask ... is so important. Not just from your supervisor but as your career progresses, seeking support from your network

Se inspirar nos ícones do seu nicho, buscar estudar suas estratégias, aprender com os erros dos outros, e por que n?o, estar aberto a parcerias, acelerará na constru??o de sua carteira de clientes.

Not having the tools required to do the job. A researched database like Costar is vital in order to understand the market and get data on properties. A platform to prepare proposals and offering memorandums. A CRM to manage prospecting and client contact. Familiarity with commercial real estate forms and contracts, and access to them. A go-to Mentor. Proper Initial Training. And many more ...

If it is an option for you, join a team. If its a good team they will provide you with much of the approve. In the dynamic field of commercial real estate, one of the biggest mistakes newcomers can make is thinking they can do it all. One must stay abreast of market shifts and regulatory changes. As a seasoned professional with over three decades of experience, I've witnessed how adaptability and continuous learning are key to longevity in this industry. Emphasizing the importance of market research and due diligence cannot be overstated, as these practices are foundational to making informed decisions and mitigating risks.