CPE Executive Council: Advice for Entering the CRE Industry
What would you tell those just starting out in the commercial real estate industry? What advice do you wish was given to you when you were starting out? The CPE Executive Council shares their best tips for those considering considering a career in CRE.
Meet and Greet
Network and meet as many people as possible. Keep learning no matter where you are whether at a conference, meeting, lunch or in the office. The best way to learn is being in the office or at a project site to absorb information from multiple people. Find your passion in CRE as there are many different product types, professions and specialties. —Dave Ebeling, Owner, Ebeling Communications
Explore All Areas
Find a mentor—that, in itself, requires a methodical search. And learn all the facets you can—finance, sales, underwriting, asset management and so on. You never know what you can/want to do until you have explored all of these facets. Finally, be patient—success that is rewarding takes time. —Shekar Narasimhan, Managing Partner, Beekman Advisors
Top tips for getting a quick start in the CRE industry:
- Learn the lingo—I’ve seen so many people struggle with all the acronyms this industry uses. What’s common to those who’ve been in the business for years feels very foreign to newcomers. Read, study, talk to people, take notes. You need to absolutely immerse yourself in this industry to be successful.
- Ask questions—similar to the above, don’t be afraid to ask questions about everything. As an intern, a junior team member, or associate, you’re not expected to know everything. Additionally, most professionals in this industry are happy to mentor and educate. CRE is an advisory business. If brokers are willing to hold their clients’ hands through a transaction, they should be willing to do the same for a valued team member.
- Network endlessly and find a mentor—accept that you can’t do this alone. You need connections to get deals done, a mentor to coach you through the difficult times, trusted colleagues who you can lean on, and partners you admire. Find those people early on, and your career will thank you. —Lanie Beck, Senior Director, Content & Marketing Research, Northmarq
Always Be Learning
Be a lifelong learner. The world is changing faster than it has ever changed before and it will never change this slowly again. Be prepared to keep learning, either within your chosen vocation or in order to switch vocations. Be curious. Be inquisitive. And never get complacent. —Ryan Severino, Chief Economist & Head of U.S. Research, BGO