The honeymoon stage of your real estate career is a crucial one, laying the groundwork for your future in the industry. Not only will you learn the nuts and bolts of commercial real estate, but you will also develop your own unique professional style. It’s a time to experiment and to hone your technique, to see what works for you and what doesn’t.
There is no magic formula that guarantees success in commercial real estate. However, the successful real estate agent demonstrates specific qualities that set them apart from their peers.
Honesty and integrity
First and foremost, a successful commercial real estate agent has integrity. Rightfully, clients want an agent whom they can trust. They want to know that their agent will be working for and with them. A commercial real estate agent must always approach their job with an unwavering code of business ethics and professionalism. In fact, honesty and integrity should be a given for every agent, not just successful agents.
Proactive and knowledgeable
The successful commercial real estate agent is proactive. They realize that listings come and go, and act fast to navigate the ever-shifting market. Furthermore, they are experts within their niche. They consistently comb the news to keep informed about inventory, industry trends, and market forecasts. If their clients have questions, they have the answers.
Proficient with technology
When a client searches for a commercial real estate agent, they usually begin with the Internet to scope out the options. The successful real estate agent realizes this and harnesses the power of the Internet to showcase their services. They effectively use media to clearly communicate how they can help prospective clients.
Mobile technology is also seeing a rapid rise in commercial real estate. People are now using their phones to conduct online searches, access listings, and to communicate. With the world becoming an ever mobile place, the cell phone is taking center stage in commercial real estate.
Knows the neighborhood they represent
When a business owner searches for an office space, they are also looking for a neighborhood that will allow their business to thrive. Certain neighborhoods tend to attract certain industries. For instance, the Midtown South area of New York City is a mecca for creative businesses. Meanwhile, businesses in the financial services industry gravitate towards Wall Street, appropriately dubbed the Financial District.
As a commercial real estate agent, you should become familiar with the neighborhood(s) that you represent. Check out the surrounding attractions, happy-hour hangouts, and travel accommodations. If you prove yourself as a community expert, your clients will appreciate your authority on the area.
Additionally, it’s important to form a strong, supportive anchor of contacts in your community. In a professional network, every contact counts. By networking effectively, you will establish your credibility in the commercial real estate industry and even get referrals to your services.
Lastly, the successful real estate agent understands that their career is always a work in progress. Even at the pinnacle of their career, they never become complacent. Momentum in commercial real estate depends upon your own mindset. If you always try to improve, you will move forward in your commercial real estate career.