Tips for The Young Commercial Real Estate Broker

You have just landed your first job in Commercial Real Estate Brokerage (CRE) – awesome; now it’s time to get to work. Beginning a career in CRE Brokerage can be an unnerving and sometimes discouraging feat, especially without any prior experience working in commercial real estate.

The below practices are a compilation of what I have used to help propel myself forward in my professional career, but these can certainly be applied in one’s personal life as well. If you stay consistent with these practices, the transaction experience of the business (and the money) will certainly follow you.

Show Up Early:

In most brokerage houses, you tend to see the top producers beginning their day between 7:30 am-8:30 am. This should NOT be you. You should be at your desk no later than 6:00 am-6:30 am for

the first several years of your career (or longer). This gives you time to focus and prepare for your day ahead with minimal distractions.

Always Be Reading:

Become a sponge for knowledge and soak it up from every possible angle. Immerse yourself in writing and articles pertaining to your specific product type and submarket.  Follow the current state of the U.S. Economy, The Fed, etc. Brokerage is not necessarily all about “doing deals”, but rather being knowledgeable in all aspects of the business to effectively advise your clients in what is best for them and their business.

Listen:

It should go without saying that as a new and less experienced broker, you will never be the smartest person in the room. One of the greatest keys to success is to be a great listener – don’t speak simply to hear your own voice. It is amazing what you can learn by surrounding yourself with mentors and those that portray your ultimate idea of success.

Be Accessible:

Always return phone calls and emails. If you are not accessible, you cannot expect to transact. Set aside time each day to complete this task, as it is the basis on which our business is built.

Press On:

Brokerage can be a humbling experience.  If you are doing all the right things, but you are not exactly where you had envisioned after your first 12-24 months in the business – this is not abnormal.

There is a saying in the Armed Forces: “Embrace the Suck.” What separates great brokers from the mediocre is that the great brokers have “Embraced the Suck.” No one loves to be rejected day-in and day-out, but those who are successful have embraced a less than desirable situation and have used it to motivate them every single day.

Corbin Blount – Corbin, a director with Lee & Associates, joined Lee & Associates in September 2014 as an Associate in the Dallas/Fort Worth office. Being a life-long resident of Dallas, as well as being raised in a real estate family, has allowed Corbin to gain extensive market knowledge and perspective into the ever-changing Dallas/Fort Worth Commercial Real Estate market.

To read more about Corbin visit our website.