07/14/2025
A reminder that seeking mentorship and welcoming advice in Commercial Real Estate is important, but it's not everything... Here are some tips I've gotten through the years, and my reaction to them:
1st Tip - "You must pick a niche and run full speed into this niche, only completing deals within it."
My Thoughts: Being "niche'd down" is likely a positive mindset, but if you get into this mindset too early in your career you may say no to some serious earning potential. For instance, I'm primarily an office tenant rep broker, but I had a top 5 Industrial Sale in Philly in 2022 because I sought out all opportunities in commercial real estate.
2nd Tip - "You must know every single transaction that's taken place in your market"
My Thoughts: Hard disagree on this one. I have found that the majority of data and knowledge is out there when you need it. I found that working to understand my client's needs first heavily outweighed doing hours of study into a market. First, I need to know what my client needs to be comfortable, then I can compare it to the readily available market data, or intel I get through SIOR Global, KW Commercial, and other resources.
3rd Tip - "You must start your career at a big shop in order to learn this business"
My Thoughts: Wholeheartedly false. There are major advantages to working at a large, publicly traded company, of course... but in reality I'm 7 years in and only ever worked at a small boutique shop and then ran small 20< person teams within KW Commercial. That sentiment might have been true before:
- Books like "Brokers Who Dominate" were published, shoutout to Rod Santomassimo -World’s Top CRE Broker Coach.
- Existed with top brokers handing out free game every day.
- ChatGPT was there to answer every little question.
In my eyes, there's no perfect place to start, and there's no perfect place to go. Buckle up, make the calls, have the meetings, go to events, never give up, and keep yourself mentally and physically fit, and you will win.
Just my two cents... Have a great week!