Achieving success in the commercial real estate arena takes more than just hard work.
To navigate the constantly shifting world of CRE, a broker needs to bring a collection of inherent skills to the table. These skills should range from passion for your job to being quick on your feet during unexpected or difficult situations.
Here are four qualities that will make you stand out and keep you successful in the field.
Wear your Passion Proudly
As in any profession, being passionate about what you do can have a huge impact. The ability to meet the daily challenges of the market with a genuine love of the job is an invaluable tool, especially in an arena as competitive and constantly changing as CRE.
Honest passion is motivational not only for yourself, but for your team, as well. Leaders who make no secret of their love for their jobs create a trickle effect that can build confidence within an entire business.
Being openly passionate also carries another important benefit: it builds a reputation. In the packed world of real estate, reputation can make or break any broker. If word of mouth is in your favor, potential partners will recognize your dedication and reward you for it.
Know your Data
Having a knack for numbers, math, and problem solving is a must for a successful CRE broker. Understanding the market and providing value to consumers means keeping track of large amounts of data. This includes knowing the numbers behind the value of a property, conducting research into demographics and local businesses, assembling financial analysis reports, and more.
The trick lies in combining your passion and personality with the ability to organize accurate data. If you can be seen as both likeable and competent by perspective partners, you’ll have a strong head start toward success in the field.
Brokers who struggle with face-to-face interactions will have a hard time getting ahead and standing out. Engaging with prospects, clients, and team members is a significant part of the job description, and creating lasting relationships and relatability is crucial to succeeding in the CRE sphere.
Socializing – and making the effort to listen – also plays back into the previously mentioned point of reputation. If you’re able to position yourself as a relatable, dedicated professional who’s easy to talk to and routinely makes time to meet with clients, your reputation might very well proceed you.
Stay Flexible and Versatile
Flexibility is a strong asset in any professional setting, but the nature of commercial real estate demands extra awareness of change. With the market in constant flux, being able to stay strong with each ebb and flow is a major part of being a CRE broker. Remember to stay alert and listen for changes, and to learn from colleagues, competitors, and customers as those changes take place.
These shifts can also occur within the process of dealing with each property. New problems and questions might arise throughout the process and being able to think quickly and solve those problems will make you a desirable asset in a crowded field.
Looking to make connections in commercial real estate? Contact our team at DRK.
Until next time,
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