8 Pieces of Advice for Young Commercial Real Estate Brokers

by Capstak

The Capstak Community voted.

The survey results are in.

And, the top skill needed by a young commercial real estate broker to be successful is...Grit/Tenacity.

Top skills for young commercial real estate brokers

During the survey, some of our community members gave us additional feedback. Here’s eight pieces of advice from Capstak commercial real estate community members on how to be a successful commercial real estate broker:

1.

Melissa Molyneaux Colliers International"The most important skills for a young broker are: Grit…You definitely need to be able to be knocked down and pick yourself back up…over and over and over again! Street smarts…Brokerage cannot be taught through a class or book. Much of what is needed is learned by observing, doing, trying and failing. Most of most valuable lessons are through mistakes. Grace…Some brokers think the way to get a deal done is by being a tough guy. In reality, all parties are human and it requires the skill of grace to connect two willing parties with different opinions to get the transaction done. It is about being responsive, caring, compassionate, and truly listening not about who can scream the loudest."

 


2. 

Tomi Jo Lynch SVN“I feel like I hear and talk about this all of the time. I think one of the biggest challenge facing young brokers just starting out is their egos; this is pretty specific to the millennial generation. I think the most important traits are humility, tenacity, and ability to accept delayed gratification."

 


3.

Barbi Reuter Commercial Real Estate                                                                         

 

 


 


4.

Jonathan Schein Institutional Real Estate, Inc.

“It’s said that to succeed in real estate, it’s all about "location location location". To succeed as service provider, it’s all about "listen listen listen". Too often we’re not secure enough to keep quiet and actually find out what a client needs really are. Instead we can impose what we think they need, and at that point, you’ve lost trust.”

 

 


5.
Ray Tuntland CBC Advisors

"Technology has revolutionized our industry, providing almost unlimited access to geographic and demographic data. We have industry trends and news literally at our fingertips. Our ability to find, communicate, and manage business opportunities is amazing. I encourage everyone in our business to take full advantage of tech but always remember that this is still, and will forever be, a relationship business. That means make the phone calls, but more importantly, insist upon the face-to-face meetings so you can really get to know and understand your clients."

 


6.
Stan Thomas Economic Development Authority of Western Nevada

"Skills - Knowledge of the market, people/relationship skills, great communication skills, negotiating skills.

Qualities – Passionate and enthusiastic, desire to be successful, Honest and do what you said you would do.

They need to know that they are young and don’t know everything there is to know about the business. Ask good questions.”

 

 


7.
Michael Schnabel Capstak“The easiest way to be successful as a broker is to keep it simple and play by the numbers – one meeting a day, one proposal a week, one listing a month.”

 


8.
Julie M. Augustyn Retail CRE                            

 

 

 

 

 

 

 

 

 

 

 

 

 


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Capstak is a market network for the commercial real estate capital markets. Capstak’s proprietary technology solutions empower the $15 trillion commercial real estate industry by enabling CRE professionals to find deals, source capital and identify trusted business partners with greater ease and efficiency. CRES provides bespoke services to enhance the efficiency of the matchmaking of capital for capital seekers and brokers advising the debt and equity CRE capital markets. The company is headquartered in Reno, Nevada with offices in New York and San Francisco. www.Capstak.com