I Stopped Being An Average CRE Advisor When I…(Did This), And Became A Good CRE Advisor When I…(Did This)

I stopped being an average CRE advisor when I put what I thought would be an effective sales pitch aside and became a good CRE advisor when I put?prospective clients’ interests first and foremost.

As a?commercial real estate advisor, being average is simply not an option. In a competitive industry where success is measured by the value and number of deals closed, it is crucial to go above and beyond to stand out from the rest. In this blog post, I explore the transformation from being an average CRE advisor to becoming a?good?one, highlighting the key actions and mindset shifts required to achieve this.

Why I stopped being an average CRE advisor

Last Friday I was making my standard business development calls, when one pick up back-fired and the property owner I wanted to be useful to, instead laid into me, yelling at me to stop, stop, stop calling him! I have experienced rejection in the business development process, but not like this. It mentally derailed me, and really got me thinking if I am going about this process all wrong. I must be just like every other really average commercial agent out there.

I truly do want to one day be an excellent CRE advisor. I am willing to put in the hard work to learn to be truly useful and beneficial like no other to owners of commercial real estate. Which is why I wrote this post about my desire and journey to transcend mediocrity as a commercial real estate advisor.

Whether you are just starting out in the field or looking to improve your game, these insights will provide valuable guidance on how to elevate your professional status and build a successful career in commercial real estate. So, what does it take to transition from average to?good?(great and excellent come later)? Let’s dive in and discover the secrets that can help you thrive in the world of commercial real estate advisory.

Get Perspective: What are you trying to achieve? Who’s involved and how are you going to achieve it?

Expanded my knowledge beyond just commercial real estate (2.1):

As a professional in the commercial real estate (CRE) industry, it’s easy to get wrapped up in the day-to-day tasks and solely focus on the intricacies of the market. However, I quickly realized that to truly excel as a CRE advisor, I needed to expand my knowledge beyond the borders of this sector.

By immersing myself in a wide range of subjects, I gained a deeper understanding of the world around me and how different industries intersect with the CRE market. I delved into topics such as technology,?finance, urban planning, sustainability, and even psychology. This broadened perspective helped me make more informed decisions and think critically about how various factors impact the real estate landscape.

Reading books, articles, and blogs about various industries (2.2):

One of the most effective ways to expand my knowledge beyond commercial real estate was through reading. I made a conscious effort to diversify my reading list and include books, articles, and blogs from different industries. By doing so, I not only expanded my understanding of these sectors but also gained valuable insights that I could apply to my work in the CRE field.

I sought out books written by prominent experts in finance, technology, marketing, and other relevant disciplines. I also made it a habit to stay updated by reading industry-specific blogs and reputable publications that covered a wide range of topics.

Understanding the impact of different sectors on the CRE market:

Once I had a solid foundation of knowledge from my extensive reading, I began to develop a keen awareness of how various sectors intersect and influence the CRE market. For instance, understanding how advancements in?technology impact office space requirements?or how shifts in consumer behavior affect the retail sector allowed me to provide more valuable insights and guidance to my clients.

By staying informed about economic trends, market volatility, policy changes, and global events, I was able to anticipate potential shifts in the CRE market and advise my clients accordingly. This comprehensive understanding of the interconnectedness of different sectors empowered me to provide well-rounded and strategic advice that went beyond just the traditional aspects of commercial real estate.

In conclusion, I stopped being an average CRE advisor by expanding my knowledge beyond commercial real estate, diving into different industries through reading, and understanding the impact of various sectors on the CRE market. This has been instrumental in my growth as a CRE advisor. These efforts have allowed me to provide more valuable insights, make informed decisions, and ultimately elevate my status from an average CRE advisor to a good one.

Developed exceptional communication skills (3.1) Practicing active listening during calls, meetings and negotiations (3.2) Regularly updating clients on market trends and property updates.

Developed exceptional communication skills:

Effective communication is a vital aspect of being a successful commercial real estate (CRE) advisor. As an average CRE advisor, I realized the need to enhance my communication skills in order to truly excel in the industry. Here are a few key areas where I focused my efforts to develop exceptional communication skills:

1. Practicing active listening during client meetings and negotiations:

One of the most crucial components of effective communication is active listening. In my journey to become a good CRE advisor, I discovered the power of truly listening to my clients and understanding their needs and preferences. Active listening involves giving your undivided attention, maintaining eye contact, and demonstrating genuine interest in what the client has to say.

By actively listening, I was able to gain valuable insights into my clients’ objectives and tailor my advice and recommendations accordingly. This not only boosted my credibility as an advisor but also helped me build strong relationships with my clients based on trust and mutual understanding.

2. Regularly updating clients on market trends and property updates:

Another important aspect of communication in the CRE industry is keeping clients well-informed about market trends and pertinent property updates. As an average CRE advisor, I used to overlook the significance of providing regular updates to my clients, which hindered my ability to provide them with a comprehensive understanding of the market.

However, I recognized the need to stay updated with the latest market information and promptly share it with my clients. This involved conducting thorough research, attending industry events and seminars, and subscribing to reputable publications. By continuously updating my clients, I was able to demonstrate my expertise and position myself as a reliable resource in their real estate interests.

3. Building clear and concise communication channels:

Being a good CRE advisor requires establishing clear and concise communication channels with clients. I realized that being ambiguous or using jargon-filled language can confuse clients and hinder effective decision-making. Therefore, I made a conscious effort to communicate information in a clear, understandable manner.

To achieve this, I?simplified complex real estate concepts?and terminology, avoided excessive industry jargon, and ensured that the key points were effectively conveyed. By doing so, I was able to build trust with my clients, as they could rely on me to provide transparent and easily digestible information.

In conclusion, developing exceptional communication skills is a pivotal aspect of transitioning from an average CRE advisor to a good one. By practicing active listening, regularly updating clients, and building clear and concise communication channels, I was able to establish myself as a professional and successful CRE advisor. These skills not only enhanced my reputation but also strengthened my relationships with clients, paving the way for long-term success in the industry.

Embraced technology to enhance efficiency (4.1) Utilizing CRM software to manage client relationships and transactions (4.2) Leveraging data analytics tools to gain valuable insights into market trends.

In today’s fast-paced and tech-driven world, it is essential for professionals in the commercial real estate (CRE) industry to embrace technology in order to enhance their efficiency and stay ahead of the competition. By leveraging the power of technology, CRE advisors can elevate themselves from being average to becoming exceptional in their field.

4.1 Embraced technology to enhance efficiency

One of the key ways to excel as a CRE advisor is to embrace technology in every aspect of your work. This includes utilizing digital tools and platforms that are specifically designed to streamline and automate various tasks. By adopting such technology, you can significantly enhance your efficiency and effectiveness.

From managing client relationships to organizing transactions and paperwork, technology allows you to handle these tasks with ease. By using digital platforms, you can automate reminders, set up notifications, and stay organized in a way that simply isn’t possible manually. This not only ensures that nothing falls through the cracks but also enables you to provide a seamless and professional experience to your clients.

4.2 Utilizing CRM software to manage client relationships and transactions

Customer Relationship Management (CRM) software has become an indispensable tool for CRE advisors seeking to enhance their relationship management capabilities. With a CRM system in place, you can efficiently track and manage client interactions, notes, documents, and appointments all in one centralized location.

By utilizing CRM software, you can personalize your approach to each client, ensuring that you provide tailored services and maintain a high level of professionalism. These tools enable you to quickly access client information, previous discussions, and preferences, thus allowing you to build stronger relationships and provide a seamless experience throughout the entire transaction process.

4.3 Leveraging data analytics tools to gain valuable insights into market trends

In addition to enhancing efficiency and managing client relationships, leveraging data analytics tools can give you a significant advantage in understanding market trends and making informed business decisions. By harnessing the power of these tools, you can access a wealth of data and gain valuable insights into market dynamics, pricing trends, and future projections.

With the?right data analytics tools, you can easily analyze market data and identify emerging trends. This knowledge can help you better serve your clients by providing them with accurate market information, suggesting strategic investment opportunities, and positioning yourself as a trusted advisor.

In conclusion, I stopped being an average CRE advisor by embracing technology and leveraging its capabilities. This is crucial for any CRE advisor aiming to excel in their profession. By implementing digital tools, such as CRM software and data analytics platforms, you can enhance your efficiency, manage client relationships effectively, and stay ahead of evolving market trends. Embracing technology is no longer an option but a necessity in becoming a successful and professional CRE advisor.

Became an expert in local market knowledge (5.1) Researching and analyzing local market data (5.2) Building a strong network of local contacts, including brokers, developers, and investors.

In order to transition from being an average Commercial Real Estate advisor to a good one, there are certain steps that need to be taken. One crucial aspect that sets apart successful CRE advisors is their expertise in local market knowledge. By immersing themselves in the intricacies of the local market, they are able to provide invaluable insights to their clients and make informed decisions. Below, I will explore the various ways in which you can enhance your knowledge in this area and cement yourself as an expert in your local market.

Researching and analyzing local market data is a fundamental part of becoming a knowledgeable CRE advisor. This involves gathering and examining a wide range of information, such as economic trends, vacancy rates, rental rates, and recent transactions. By studying these factors, you can gain a comprehensive understanding of the current market conditions and predict its future trajectory. Utilizing reliable sources, such as industry reports, government statistics, and online databases, can assist you in developing a solid foundation of knowledge.

Building a strong network of local contacts is also key to becoming an expert in the local market. By nurturing relationships with brokers, developers, investors, and other industry professionals, you gain access to valuable insights and opportunities. Attend industry events, join professional organizations, and engage in networking activities to expand your circle of contacts. Actively seek out mentorship opportunities from experienced professionals who have a deep understanding of the local market, as their guidance can be instrumental in your growth.

Additionally, staying updated on local news and developments is vital to your success. Subscribe to local publications, both online and print, to stay informed about the latest developments in your market. Pay attention to changes in regulations, upcoming infrastructure projects, and shifts in the business landscape. This knowledge will enable you to provide your clients with a competitive edge and demonstrate your expertise when guiding them through complex transactions.

Being an expert in?local market knowledge requires consistent effort?and dedication. Make it a priority to allocate time for continuous learning and professional development. Attend seminars, workshops, and webinars specifically tailored to the local market to enhance your skills and stay ahead of industry trends. By continuously expanding your knowledge base, you will position yourself as a trusted advisor who can navigate the local market with confidence.

In conclusion, I stopped being an average CRE advisor by becoming an expert in local market knowledge. This is an essential step towards transforming from an average CRE advisor to a good one. By thoroughly researching and analyzing market data, building a strong network of contacts, and staying up-to-date with local news and developments, you can become a valuable asset to your clients. Remember, expertise in the local market sets you apart and adds undeniable value to your services as a CRE advisor.

Adapted my approach based on individual client needs (6.1) Taking the time to understand clients’ long-term goals and objectives (6.2) Tailoring property proposals and investment strategies accordingly.

In order to transition from being an average commercial real estate advisor to a good one, I realized the importance of adapting my approach based on the individual needs of my clients. I stopped being an average CRE advisor by understanding that every client has unique goals and objectives, which helped me tailor my strategies to better serve them. Here are two key ways I transformed my approach:

Firstly, I started taking the time to truly understand my clients’ long-term goals and objectives (6.2). Rather than making assumptions or focusing solely on short-term gains, I engaged in meaningful conversations with my clients to?gain valuable insights?into their aspirations. By understanding their desired outcomes, I could align my efforts to assist them in achieving their objectives.

Additionally, I recognized the significance of tailoring property proposals and investment strategies to suit the specific requirements of each client (6.1). Instead of applying a one-size-fits-all approach, I dedicated effort and time to research and analysis. This allowed me to recommend properties and investment opportunities that perfectly aligned with each client’s goals and risk tolerance.

By adapting my approach in these ways, I became a much more effective CRE advisor. Clients appreciated my dedication to their individual needs, and it helped build trust and credibility. Moreover, tailoring recommendations and strategies helped improve their chances of success while minimizing unnecessary risks.

In conclusion, as a CRE advisor, it is crucial to adapt our approaches based on individual client needs. Taking the time to understand clients’ long-term goals and objectives and tailoring property proposals and investment strategies accordingly are key steps in transitioning from average to exceptional. By implementing these practices, I have not only enhanced my professional reputation but also gained the trust and satisfaction of my clients.

Prioritized ongoing education and professional development (7.1) Attending relevant seminars, workshops, and certification programs (7.2) Staying updated on industry regulations and best practices.

As a professional in the commercial real estate industry, it is essential to prioritize ongoing education and professional development. By doing so, you can differentiate yourself from the average CRE advisor and become a truly exceptional one. I stopped being an average CRE advisor by focusing on two key areas of education and professional development:

(7.1) Prioritized Ongoing Education and Professional Development:

To excel in your career as a CRE advisor, you must commit to continuous learning and growth. This means dedicating time and resources to gain knowledge in various aspects of the industry, staying up-to-date with the latest trends, and honing your skills.

Investing in ongoing education can take many forms. You?might consider attending industry conferences, participating in webinars, or enrolling in specialized courses. By doing so, you can increase your expertise in areas such as market analysis, financial modeling, property valuation, negotiation techniques, and more.

(7.2) Attending Relevant Seminars, Workshops, and Certification Programs:

To establish yourself as a top-tier CRE advisor, take advantage of opportunities to attend relevant seminars, workshops, and certification programs. These events provide valuable insights, networking opportunities, and the chance to learn from industry experts.

Seminars and workshops often focus on specific areas of expertise, such as commercial leasing, property management, or investment analysis. These events allow you to deepen your understanding of specific aspects of the industry, gain practical insights, and enhance your problem-solving capabilities.

Certification programs, including those offered by professional organizations like the CCIM (Certified Commercial Investment Member) or the SIOR (Society of Industrial and Office Realtors), demonstrate your commitment to professionalism and expertise. These programs provide comprehensive training, covering a range of topics pertinent to the CRE industry. Earning such certifications can significantly enhance your credibility and marketability.

By attending relevant seminars, workshops, and certification programs, you actively stay engaged in your professional development. This commitment sets you apart as a knowledgeable and well-rounded CRE advisor, capable of delivering exceptional value to your clients.

In addition to these two focal points, it is crucial to stay updated on industry regulations and best practices. Regularly follow industry publications, newsletters, and blogs to ensure you are aware of any changes or developments that may impact your clients’ investments. Being well-versed in industry regulations and best practices will instill confidence in your clients and allow you to provide accurate and reliable guidance throughout the CRE transaction process.

Continuously pursuing education, attending relevant events, and staying updated on industry regulations and best practices are crucial steps towards becoming a standout CRE advisor. Embrace these opportunities to refine your skills, expand your knowledge, and deliver exceptional results for your clients.

Focused on providing exceptional customer service (8.1) Responding promptly to client inquiries and concerns (8.2) Going the extra mile to exceed client expectations.

In the competitive world of commercial real estate, being an average advisor is simply not enough to stand out. To truly succeed and make a name for yourself in this industry, it is crucial to go above and beyond for your clients. In this section, we’ll explore three key practices that will help you elevate your game from average to exceptional.

1. Focused on?providing exceptional customer service?(8.1): In the realm of CRE, exceptional customer service isn’t just a luxury, but a necessity. It begins with truly understanding your clients’ needs and concerns. Take the time to listen attentively to their requirements, goals, and expectations. By gaining a deep understanding of their unique circumstances, you’ll be able to tailor your services more effectively.

Additionally, exceptional customer service means being readily available and accessible to your clients. I stopped being an average CRE advisor by responding promptly to their inquiries and concerns, whether it’s by phone, email, or in person. Let them know that their needs are a top priority and that you are always there to address any queries or alleviate any concerns they may have.

2. Responding promptly to client inquiries and concerns (8.2): Timely communication is a hallmark of a good CRE advisor. Remember that your clients often have pressing issues and time-sensitive decisions to make. By promptly addressing their inquiries and concerns, you demonstrate reliability and build trust. Aim to respond within a reasonable timeframe, even if it means going above and beyond traditional office hours.

When a client feels that their questions are taken seriously and are responded to promptly, it enhances their confidence in you as their trusted advisor. This level of attentiveness and responsiveness sets you apart from the average advisor and can lead to stronger and lasting client relationships.

3. Going the extra mile to exceed client expectations: Being good in the CRE industry requires more than just meeting your clients’ expectations; it demands exceeding them. Success is achieved by going above and beyond what is required or expected. Strive to anticipate your clients’ needs and provide them with extraordinary service that leaves a lasting impression.

Going the?extra mile might involve offering additional resources, connections, or insights that prove valuable to your clients. Surprise them with personalized gestures that show you truly understand and care about their goals and priorities. By consistently exceeding their expectations, you earn your clients’ loyalty, referrals, and a solid reputation in the industry.

In conclusion, the journey from being an average CRE advisor to a good one entails providing exceptional customer service, promptly responding to client inquiries and concerns, and consistently going the extra mile to exceed client expectations. In adopting these practices, you will not only thrive as a CRE advisor but also build a brand synonymous with professionalism and success.

Established a strong personal brand (9.1) Creating a professional website and online portfolio (9.2) Showcasing expertise through thought leadership content and industry presentations.

As a commercial real estate advisor, establishing a strong personal brand is key to setting yourself apart from the competition and positioning yourself as a trusted expert in the industry. Building a personal brand requires intentional effort and a strategic approach. Here are some steps you can take to establish a strong personal brand as a CRE advisor:

1. Define your unique value proposition: To stand out in the crowded CRE market, it’s important to articulate what makes you different from other advisors. I stopped being an average CRE advisor when I could identify my very own strengths, expertise and unique selling points. Think about the specific niche or area of specialization that you excel in. This will help you craft a?compelling personal brand message?that resonates with your target audience.

2. Create a professional website and online portfolio: In today’s digital age, having an online presence is crucial for any business professional. A professional website serves as your virtual storefront, where potential clients can learn more about you and your services. Ensure that your website is visually appealing, user-friendly and showcases your expertise through testimonials, case studies, and past successful deals. Include an online portfolio that highlights your past work, clients, and achievements in the CRE field.

3. Thought leadership content and industry presentations: As a CRE advisor, you need to demonstrate your expertise and knowledge of the industry. Creating thought leadership content in the form of blog posts, articles, whitepapers, or even videos allows you to showcase your insights, industry trends, and share valuable information with your target audience. Consider sharing your expertise through industry conferences, webinars, podcasts, or speaking engagements. These platforms not only position you as a thought leader but also expand your network and increase your visibility within the industry.

4. Engage with your target audience: Building a personal brand isn’t just about self-promotion, it’s about creating meaningful connections with your target audience. Engage with potential clients, industry peers, and influencers through social media platforms like LinkedIn, Twitter, and Instagram. Share valuable content, participate in industry discussions, and provide insights and advice. Engaging with your audience not only helps build trust but also increases your visibility and establishes you as a go-to resource in the CRE field.

Remember that building a personal brand takes time and consistency. Continuously refine and adapt your brand strategy as your business evolves and new opportunities arise. By establishing a strong personal brand through a professional website, thought leadership content, and engagement with your target audience, you will elevate yourself from an average CRE advisor to a trusted and respected professional in the field.