How to Succeed in Commercial Real Estate as a Young Professional
As part of our Young Professionals month we have interviewed both young professionals and their mentors to get their perspective on how to succeed in real estate when you’re new to the industry.
We’ve taken both of these perspectives to guide young professionals to make the most of their opportunities. Below are some of our key takeaways.
Connections matter. Making long-lasting relationships is an important part of the commercial real estate industry. The connections that you make now will be the same people you’ll be working with throughout your career. They may introduce you to potential clients or ask for your help on a shared deal.
It’s also important to build a network of other professionals and business owners – such as bankers, lawyers, accountants and HR managers – they may be potential clients.
Join a young professionals group
Joining a networking group can help you connect with young professionals across the industry. It’s also a great opportunity to meet senior brokers from other firms that you otherwise wouldn’t have access to.
If you’re part of one of our partner firms – Exis is a great place to start. We have a Young Guns Special Interest Group (SIG), which is a space for young professionals and senior brokers who want to mentor them to connect.
As part of Young Guns, on June 16th we are running a Young Professionals networking event. This will be a safe space to share your experiences with peers, as well as talk about challenges and benefits of working in commercial real estate. Join us to get useful advice, make long-lasting professional relationships and get a fresh perspective on your career.
Speak to your mentors
Is there something you enjoy more, or have you noticed a different part of business that you’d like to be a part of? The people who’ve done those roles for a number of years will be able to tell you first hand the ups and downs of working in the area of CRE you’re interested in. They’ll be able to give you advice and help direct you towards achieving your goals.
Your mentors will also have contacts with other real estate professionals, so if you’ve heard about something in the industry and would like to connect with the individual ask your mentor first – they already could have the connection!
Learn about as many aspects of the business as you can
Spend some time learning different areas of the business. Being new to the business gives you the opportunity to explore different parts of commercial real estate from finance to sales and asset management. You might be surprised to find you’re doing particularly well in an area that you might have not thought of before.
Find an area that interests you
Identify the type of commercial real estate that you’re most interested in, because it’s such a large asset class – from office and life sciences to industrial and data centers – and then work from there. You’ll have the most success when you’re doing something you’re passionate about.
Are you a young professional or a senior broker who wants to be part of the Young Guns SIG? Let us know by emailing firstname.lastname@example.org, we’ll connect you with the group.