Started my CRE career 4 months ago - what bad habits should I stay away from when building my career?
I joined M&amp;M 4 months ago, got my license 3 months ago and spent the last 10 weeks or so building my database from scratch. I started doing some light cold calling towards the end of the year but I’m expected to hit the ground running on the phones when the new year starts. Any tips to help me kickoff my career in CRE? 

A little more context: I joined a team focused on industrial real estate in order to learn and absorb knowledge from an expert. So currently, I’m working with a senior agent (5 years in the business- has closed 18 or so deals), however I work in a different submarket than the one he’s works in. 

Any tips that would help me become a better broker and get business are more than welcome :)

If you managed to read till the end, thank you!
[{"id": "j1x63yg", "text": "Assuming everyone in here is in sales\u2026 is a no no. \n\nAnd always read. I believe the first rule of this sub is not give advice to people new to the field. (I assume as to not influence someone you don\u2019t know). \n\nGood luck out there in 2023!", "replies": [{"id": "j1zqhbl", "text": "Noted - thank you!", "replies": [], "depth": 2}], "depth": 1}, {"id": "j1x7enu", "text": "What market are you in?", "replies": [{"id": "j1zt1si", "text": "Toronto :)", "replies": [], "depth": 2}], "depth": 1}, {"id": "j1x84rv", "text": "18 deals in 5 years isn\u2019t a senior broker. But other than, just get in the office early and stay late, and talk to as many people as you can fit into a week!", "replies": [], "depth": 1}, {"id": "j1xd7u9", "text": "Know the financial aspects of your business, meet with everyone in the industry including investors, brokers, analysts, potential buyers, accountants, lawyers and be generally impressive in nature. Didn't answer your question about bad habits but those should help develop some good ones which is more important.", "replies": [], "depth": 1}, {"id": "j1xlk3v", "text": "Don\u2019t send stupid deals to people. You will get black listed.", "replies": [], "depth": 1}, {"id": "j1xnuky", "text": "Do not make a call without something of value to add.", "replies": [{"id": "j1y13c3", "text": "Simple but fantastic advice.", "replies": [], "depth": 2}, {"id": "j1y1jau", "text": "Curious kid here - can you please share an example of this?", "replies": [{"id": "j1yowzs", "text": "It could be anything. As you gather intel from all different sources, think about owners to whom the info might have utility and make that call:\n\n- very recent sales and cap rates are always of value \n- development pipeline update for their submarket (depends on your market, I recognize this isn\u2019t realistic in many fully-developed markets)\n- tenant movement in their submarket (new, exciting, or different tenants moving into neighborhood?)\n- Even better if you have details on the lease terms for the point above\n- planned infrastructure improvements in submarket\n\nCold calls are necessary, but do not fall into the trap of your only goal being to set a meeting for your senior broker. In my opinion, your real goal should be to deliver enough value so that the next call is a warm call and they look forward to receiving it, and more importantly, they think of you when they are ready to explore their options. \n\nSome owners always want data, some want neighborhood gossip, some want to feel important, but absolutely no one wants to talk to a salesman. Make it fun, deliver value, and be there when they\u2019re ready.", "replies": [{"id": "j1ywebo", "text": "Where are the best resources for obtaining that kind of information?", "replies": [], "depth": 4}, {"id": "j1zrzve", "text": "Great tips, thank you. \nAdding value to the call is something I\u2019m still working on as I learn more about the area and market trends. I face a tough time especially when I\u2019m speaking with an owner/investor that knows more than I do.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "j1xr23c", "text": "Which office are you based out of. I worked at Marcus n Millichap for 3 years", "replies": [{"id": "j1zl8dw", "text": "Danny!!", "replies": [], "depth": 2}, {"id": "j1zq5dk", "text": "Toronto :)", "replies": [], "depth": 2}], "depth": 1}, {"id": "j1xvawo", "text": "Wherever you go, your reputation gets there first.", "replies": [], "depth": 1}, {"id": "j1xvk2w", "text": "I'll give you a couple bits of advice. \n\nLearn everything you can from anyone you come in contact with, not just your senior guy. The first 0-3 years are primarily for education.\n\nMAKE THE DIALS: if you're in a big market a bad call is better than no call. The best way to learn to prospect is to actually prospect. The first deal I ever did was with a client who recognized I was new and gave me a chance. I've done six or eight deals with him since.\n\nYou should know this is a tough gig. If it were easy everyone would do it. Median first deal is a year in so unless you're literally starving don't give up. You can make a ton of money, but it takes time, work, learning, being humble, and having some balls. Sometimes the most value you can add is telling a customer or client a fact others won't tell them.\n\nFocus more on building relationships than any one transaction.\n\nKnow the market. The people, property, trends, everything. Better to be an expert in one little chunk of town then expand the chunk than to be just wildly looking at everything.\n\nOnce you start making money be very aware of lifestyle creep. If you go six months with zero income then make $100k don't go buy a car or some other dumb shit. Go to a nice dinner then save and/or invest. Have a very tight budget and pay yourself monthly from cash you save. There is nothing more stressful than living deal to deal. Celebrate with a vacation once you hit your first $100k year and a car in cash when you hit your first $300k year.\n\nOnce you decide your niche (price point, type of seller, geography, property quality, etc.) stick with it with very few exceptions and be the best at it. Don't try to help your moms friend find a house or your friends start up find office space. Refer that stuff out. \n\nIt's a fantastic business to be a part of. People bitch about their jobs all day and the things they complain about aren't relevant in brokerage. Work life balance, income, opportunity, it's all on you. You get back what you put in, and it exponential. 20 hours you'll make nothing, 40 you'll do fine, 60 you'll do double what 40 gets you.\n\nI was at Marcus for over a year. It was fine, but had its shortcomings for me. This isn't a business with three interviews on the way in then two weeks notice on the way out. It's not W-2. Keep your eyes on options that are a fit for you, but always keep in mind that loyalty and tenure has value.", "replies": [{"id": "j1xxb53", "text": "Solid insight. Thanks.", "replies": [], "depth": 2}, {"id": "j1xxtru", "text": "Been at it for 6 months and this is the best advice I\u2019ve seen. Very helpful stuff - saved for future reference.", "replies": [], "depth": 2}, {"id": "j1y0zqx", "text": "Great advice. This should be pinned", "replies": [], "depth": 2}, {"id": "j1zq01o", "text": "Some of the best advice I\u2019ve gotten, thank you Aaron!", "replies": [], "depth": 2}, {"id": "j241gz5", "text": "Paying yourself a fixed amount based on cash on hand is the best advice I've heard so far. Been struggling with how to balance big pay days followed by months of drought and this is the answer", "replies": [{"id": "j2438st", "text": "I have a bills account and a spending account. When I close something I look at how many months of living it's worth. It's worked well and takes the 'feast and famine' out. It also shows me if I need to be concerned (like if I have three months of living but nothing in contract) and also allows me to invest comfortably without worrying if I may need that money to live on. The key for me is to keep an eye on spending and adjusting as needed so I don't run out of spending money a month faster than bill money. At this point in my career I have 10-12 months of living in cash in the bank at any given time. When I close something I fill it back to 12 months and invest the rest. Very easy to plan for big expenses too.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "j1z6joz", "text": "Marcus teaches you to work hard and when it is not working, work harder. Which is a good ethics but burns people out. I started with over 14 people in my training group and 3 years later, my and my friend are the only remaining brokers. Don\u2019t get me wrong you will learn a lot and close some deals but trust me statistic probably tells me you will end up at another firm.\n\nThat ain\u2019t a bad thing though, you could end up at another firm with way way way way way better splits, or another position in the industry, or some of my friends even ended up going the SaaS route. Either way the things you will learn will be invaluable.", "replies": [{"id": "j1zsss5", "text": "Great insight, thank you.", "replies": [], "depth": 2}], "depth": 1}, {"id": "j20txhd", "text": "Bad habit? It\u2019s good to have a niche &amp; specialized, but it\u2019s bad long term not to be generalistically curious.  You should be able to talk to someone important about all aspects of the biz. Not that you\u2019re portraying yourself as the expert or would deliver but big players have all these different things on their plate so no reason can\u2019t be able to give perspectives as well (in time). \n\nI\u2019m never not dismayed when Resi or Int\u2019l or PM, etc comes up in commercial conversations, and some polished professional acts as if they\u2019ve never heard of it, or have any friends they speak to on it.  There\u2019s only so many times you can say \u2018you should go talk to..\u2019 before you\u2019re no longer someone\u2019s first general call on stuff cause it\u2019s a waste of their time cause you never have a general thought other than something super specific.  \n\nBe curious, learn how other aspects of the biz work as they\u2019re all intertwined\u2026 you don\u2019t know when it\u2019ll come up\u2026but it does. Also referrals come from lots of different places, and from other aspects of the biz is always less competitive cause people so specialize into their sectors. \n\nGood luck", "replies": [], "depth": 1}, {"id": "j22z8nh", "text": "I work off-market so a bit different, we either get a deal on the first call or not \n the best thing besides for everything that was mentioned is cold calling, hit the phones .", "replies": [], "depth": 1}]