Building Long-Term Relationships in CRE: A Guide for New Advisors

In the rapidly evolving landscape of commercial real estate (CRE), networking and relationship-building are not just about securing the next deal—they're about laying the foundation for a sustainable and successful career. For newer advisors, understanding the importance of long-term relationships is crucial. As you grow and evolve within the industry, so do your peers, including those who will become the future executives of firms and companies you aim to do business with.

The Value of Long-Term Relationships

The CRE industry, at its core, is built on trust, reliability, and mutual respect. Transactions may come and go, but the relationships you cultivate over the years will become your most valuable asset. Here's why focusing on long-term relationships, especially with your contemporaries who are also moving up the ranks, is essential:

1. Future Opportunities: Today's junior executive could be tomorrow's CEO, CIO, or decision-maker at a major firm or company. The relationships you build now can lead to significant opportunities down the line.
2. Shared Growth and Learning: Growing alongside your contemporaries offers unique opportunities for shared learning and support. As each of you navigates the challenges and milestones of your careers, you can offer each other insights, advice, and encouragement.
3. Stronger Networks: Cultivating a broad and diverse network of long-term professional contacts enhances your ability to broker deals, find partners, and navigate the complexities of the CRE market.

“Relationships are the heart of our business and the foundation of growth that has allowed us to pour into the communities we serve and be poured into to make the OMS brand synonymous with productivity, collaboration, results-driven, and people-focused.? Our genuine approach to business has allowed us to foster the same relationships for decades.? The Uncomporomise Podcast has allowed us to share some of those relationships that have helped us to grow as individuals and as a corporation.” - Lisa Gardner

Strategies for Building Long-Term Relationships

1. Be Genuine: Authenticity is key in any relationship. Show genuine interest in the people you meet, their careers, and their challenges. Authentic interactions are more memorable and foster stronger connections.
2. Offer Value: Look for ways to offer value to your contacts without expecting anything in return. Share relevant market insights, introduce them to potential clients or partners, or offer your expertise on topics they are interested in.
3. Stay Connected: Leverage social media, especially LinkedIn, to stay connected with your professional contacts. Comment on their achievements, share articles you think they might find interesting, and keep them updated on your progress.
4. Be Patient and Consistent: Building meaningful relationships takes time. Be patient and consistent in your efforts to stay in touch, offer support, and build trust.
5. Attend Industry Events: Make it a point to attend CRE conferences, seminars, and networking events. These are excellent opportunities to meet your contemporaries in person and strengthen existing connections.

Conclusion

For new advisors in the CRE industry, focusing on long-term relationships is a strategic investment in your future success. By nurturing these connections with sincerity, patience, and a mindset of mutual support, you lay the groundwork for a robust professional network that will serve you throughout your career. Remember, the colleagues you grow with today can become your most valuable partners and clients tomorrow.

As the industry continues to evolve, so will the opportunities to collaborate, innovate, and succeed together. Embrace the journey of building long-term relationships, and watch as they become the cornerstone of your career in commercial real estate.

?