Why You Need to Seek Out Challenges in Commercial Real Estate

Welcome to edition 19 of The CRE Agents' Weekly. ??

Each week, we bring you actionable insights to help you elevate your game in commercial real estate. If you're finding value in these articles, don't forget to like, share, and subscribe. Let's dive in.

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Why You Need to Seek Out Challenges in Commercial Real Estate

In the world of commercial real estate, challenges are inevitable.

But have you ever stopped to consider if you're only reacting to the challenges that come at you, or if you're actively seeking out new ones?

If you're a market leader who’s winning more than 80% of the opportunities you pursue, your high win rate might be a sign that you need to aim higher.

Because when you're not pushing your boundaries, you're not growing. And in any competitive industry, if you're not growing, you're at risk of falling behind.

The Pitfalls of Comfort

Being too comfortable can be a double-edged sword.

While it's a sign that you've mastered your craft at the current level, it can lead to stagnation and complacency.

If you're not being challenged, your competitive spirit might subconsciously seek out challenges, sometimes in self-destructive ways. You know the saying: idle hands do the devil's work.

Consider conducting a quarterly review of your performance metrics. If you see a plateau or decline in your activity, it's a red flag that you need to shake things up.

The Thrill of the Chase

In the movie Jurassic Park, the T-Rex wasn't satisfied with the sheep that was lowered into its cage. Its natural instinct was to hunt what it eats.

Similarly, if winning becomes too easy for you, the satisfaction diminishes. The real joy comes from overcoming challenges that you've set for yourself, challenges that require you to stretch beyond your comfort zone.

Remember that high-stakes deal that seemed impossible at first? The one that kept you up at night but felt so rewarding when you finally closed it? That's the thrill you want to keep striving for at various stages of your career.

When you stay at your current level, you don’t experience that exhilaration.

The Counter-Argument: Why Seek Bigger Challenges?

You might wonder, "Why fix what isn't broken?" The answer is growth.

Life has a way of presenting you with challenges that you're ready for, even if you don't feel 100% confident. These are opportunities to prove that you're capable of more than you or others thought possible.

So, are you turning down opportunities (or not chasing deals) because they seem too challenging, or are you embracing them as the next logical step in your career?

If things are becoming too comfortable, it might be time to get a bit uncomfortable.

The Bottom Line

The challenges you choose to take on are often the most fulfilling to conquer. They not only signify that you're playing a bigger game, but they also keep you focused and motivated.

So, if you find that the game of commercial real estate is becoming too easy, maybe it's time to start being uncomfortable with being too comfortable and to seek out new challenges.

The best way to predict your future is to create it. Don't wait for challenges to come to you – they may not be the best ones, or they could arrive too late.

If you've mastered your craft, aim bigger: go out and find your right next challenge.

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And finally…

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Practice healthy competition.

Use competition as motivation, not intimidation. The idea of winning at all costs can be an advantage – as long as it’s ethical and consistent with your values.

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About the author

Darren Krakowiak is the Founder of?CRE Success?and the author of?The CRE Agents’ Weekly?on LinkedIn. He works with commercial real estate leaders to accelerate growth in their business. Darren is also the host of?CRE Success: The Podcast; you can follow?CRE Success on YouTube.