3 Things I learned While Working in Commercial Real Estate

Venturing into real estate offers individuals an opportunity to interact with people from diverse sectors. You’re able to develop a wide variety of skills that transform you from a newbie to a who’s who in the commercial real estate industry. But for you to succeed in anything, you must have sufficient passion to enjoy your career and enough resilience to pursue it.

Most people consider real estate to be a complicated endeavor. However, nothing could be further from the truth. Philadelphia commercial real estate contains all the information you need to start investing in real estate.

I learnt these 3 things while working in commercial real estate:

  • Networking is crucial

A huge part of the real estate business involves networking and making numerous connections. If you’re the reserved, introverted type, you’ll probably learn a great deal from real estate. It’s one of those careers that prompts you to be at your very best at all times. So volunteer for an organization, visit your favorite coffee shop more often, join a gym or get a golf membership at the local club. Introduce yourself to people and make new friendships. Those connections might prove to be beneficial in the future.

When speaking to potential clients, avoid talking a whole lot about yourself. Some real estate brokers just love rambling about themselves rather than talking about important real estate business. Here’s another tip: instead of trying to connect with dozens of people within a short span of time, focus your quality time on one individual at a time. This way, you will create better bonds and longer-lasting relationship with clients.

  • Get a mentor

As the adage goes, no man is an island. You’ll need a lot of professional help as you maneuver through the murky waters of commercial real estate. Be proactive and have an exquisite attitude. This will help you to be more approachable. Apart from showing some genuine interest towards senior brokers, be teachable. Listen to the words of real estate modules. Have one-on-one conversations with people that will add value to your life and career. Ask questions and seek clarifications where necessary.

It’s tough when you’re starting out in commercial real estate. It’s possible to close one or two deals within the first few months – what matters is your persistence. So get a few mentors, learn from them, research the market and learn your way around the ropes.

  • Maintain current trends

Many brokers make the mistake of sticking to their guns even when their peers learn advanced techniques of closing deals and making new connections. One thing I learned from this industry is to evolve. Maintain the learning curve and engage with the latest trends and technologies. After all, your ultimate goal is to become a lion in the real estate jungle. Be willing to actively learn new skills, expanding your technical knowhow to stay ahead of the pack. It also pays to follow your gut. Remember, life will throw you a lot of lemons. What you do with the lemons is entirely up to you. Make lemonade!