As a new CRE broker, I was eager to jump in, but I soon realized that getting my license did not prepare me for the complexities of the commercial real estate industry. When I arrived at the office on my first day, I was honestly bewildered. I had no idea how to get started. At the time, my manager told me to join the local association of realtors. That was helpful, and it made networking with other CRE professionals a bit easier, but I needed to learn how to find clients and opportunities with income potential. And he did share his knowledge with me so I could learn the business, but it wasn't enough.
Unfortunately, another lesson learned was that managers and owners are usually in the same position of growing their business as you and don't have the time to develop their team fully.
So, to better develop my skills, I bought books and audio tapes from non-industry experts. I made it a point to learn best practices in time management, branding & marketing, how to build a pipeline of prospects, generate new leads, and develop my negotiation skills.
While learning the skills to be a better broker, I also learned that technology was my friend. At the time, I was one of the only brokers on the team using a PC and soon after adopted financial software to analyze properties. Keeping up with the latest tools and applications can help you create efficiency in the sales process and save yourself a lot of time.
You have one big (to say the least) advantage over me – technology. And it's at your fingertips day or night. You have access to experts in sales, branding & marketing, career development, to leadership via channels like YouTube, LinkedIn, podcasts, and online publications specializing in the CRE industry. I had to go to the bookstore (yes, physically go to the store) and dig through the business section or sign up for programs developed by successful professionals like Tony Robbins.
Being a successful broker is not easy. I've been where you are. I watched and learned from the best producers in the business. And I learned that they did not sit and wait for the business to come to them. They made it happen. They learned best practices to grow their client base, prospects, and ultimately their earnings.
As a coach, I'm sharing this because I still get calls from newer brokers who have not received the training to grow their careers. The call I hate getting the most is from a broker with 3-5 years of experience that is stuck or has hit a plateau.
If you're new to the business or realize your clients know more about the business than you, then it's time you take that step to grow your knowledge and skills. You can't fake it till you make it in this world. Check out the programs based on your experience level:
- Novice brokers: How to Fast-Track Your Expertise in Commercial Real Estate Brokerage
- Experienced brokers: How to Run with the Big Dogs in CRE in 120 Days
- Take advantage of a FREE trial: How to Create a Successful Commercial Real Estate Practice
The tools and resources are at your fingertips. You can do this, and success is within your reach.