Advice to My Younger (Professional) Self

Last week marked my 19-year anniversary in commercial real estate, so I thought I would take the opportunity to share my “Top Ten Pieces of Advice” with you, the listening audience.

It feels like yesterday (and a thousand years ago) that I started my career in San Diego, somehow talking my way into a job at GVA IPC, a boutique firm in the UTC area, despite not even having my real estate license yet. I had just called it quits on my meandering professional basketball career (last stop, Switzerland), I was sleeping on my brother’s couch, and I was flying home every weekend to teach private basketball lessons in order to make money. These were the easy days. I was hired by Jay Diskin, and I was fortunate to be mentored by Chuck Ekstrom, Rich Murdock, Brandon Keith , Brent Bohlken , and Chuck Wasker . I could not have asked for better guidance and leadership. Successful, fair, and ethical people.

So here we go. My best advice for those in my business. Although, in full disclosure and to be perfectly honest, you might not want to listen to me at all. There are brokers far more successful than I am. This is just the advice that worked for me, a guy who had never even heard of the industry until I was 27 years old. Enjoy!

1. Run away! No, I am kidding of course, but this job is hard, very hard. I know it looks glamorous, and it has its moments, but if you take this path be prepared for recessions and deal explosions and months and months with no income at all. Is it worth it? Yes! I love my job, but you better have resolve and mettle and tenacity and grit. And you might consider a long beautiful trip around the globe before you dive on in.
2. Hunt. Get as many clients as possible that are YOUR clients. You want your phone ringing your whole career and the people that win the business get the most money and retain the most control. Be very careful you don’t become a “zoo bear” and depend on other brokers to give you business your whole career.
3. Never ever ever ever lose a client ever. The hardest part of the job is getting hired. Losing a client is the worst thing you can do. Pay attention to their every need and take care of them and grow with them. I lost two important clients last time I changed companies, and it still bothers me. I could have stopped it.
4. Relationships should be the entirety of your focus. You need as many great relationships as you can get your hands on. Preferably those relationships are with people who can hire you and people who can refer business to you.
5. Know your shit. If you can’t explain every clause in an LOI using references and anecdotes then you are not worth hiring. Professional and shrewd experts don’t hire brokers that only get by on charisma. Young and inexperienced clients hire young and inexperienced brokers, and that is ok. But older and more experienced clients expect a more educated broker that can guide them and advise them.
6. Invest in real estate development opportunities. Even if it is a small amount of cash, the best way to learn all angles of the business is by being invested and seeing how the whole operation works.
7. Suck it up. Cry under your desk. Get back at it. Sometimes this job kicks you around, recover quickly.
8. Drive every field trip and coach every team. This is the best stuff, and while you do these things your kids will be younger, but they will pay off for you with joy and happiness as you get older.
9. Eliminate everything that does not bring you to your goals. You only have time for your family, your mental health, your community, and your job. Focus.
10. Enjoy! This is often the hardest part (for me) but making sure to celebrate and making sure you are taking care of yourself will help keep you motivated and excited and young.

Thanks, and feel free to reach out with any thoughts or questions.

Tom