What are a few things you do every day to ensure success as a CRE agent?
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[{"id": "hv5uyso", "text": "This might sound very simple, but prospecting and outbound marketing will benefit your career", "replies": [], "depth": 1}, {"id": "hv61hii", "text": "Always be dialing", "replies": [], "depth": 1}, {"id": "hv6813z", "text": "Daily persistence with day-to-day activities.", "replies": [], "depth": 1}, {"id": "hv68r6k", "text": "Prospecting is the only way unless your family owns real estate and you can leverage your connections. Even then, people I know in this industry with that sort of background have to go source deals themselves. Outbound is the name of the game.\n\nAlso, follow-up is key. You don't know if th eguy you sent an email to is on vacation and just ead your email and forgot to mark it unread or respond. Every email I send, I set a 1-2 week reminder to follow up in case I haven't heard back from them. I do this once, then move on.\n\nAdditionally, I read comps and a good, local busines paper every morning. It pays dividends to know what's going on in your market, both \"on and off the court\". Know what your local sports teams and politicians are doing. Know which restaurants are hopping and which new restaurants have hype. Know the old haunts, since your older clients will absolutely want to talk about these places. Why is it a big deal that your city is adding an overpass over the old train lines? How does this affect traffic and access to properties? It really helps to be connected, and odds are the business owners you are calling want to know this stuff since they are stakeholders in the local economy.\n\nAll in all, learn and work. If you're bored calling, spend 10 minutes learning about a local restaurant. Real estate is local, so be locally aware.\n\nGood luck!", "replies": [{"id": "hv6j0wl", "text": "This is probably a dumb question, but how do you prospect in CRE? I work in a residential firm and have a Chef background. I\u2019ve helped a couple friends purchase new restaurants. However I only know how to prospect for residential (cold call home owners, send out fliers, facebook adds, open houses). How is it different in CRE? Do you cold call business owners and see if they want to buy another location? I would like to get more into CRE, just don\u2019t know how to find leads in this world.", "replies": [{"id": "hv6t979", "text": "It's about what you said, I compile my list of property owners in mytarget submarket, for me it's industrial buildings bigger than 4,000 SF in a specific area, and just call them. The call bait I use changes over time, like if I just sold a building nearby, I call to tell the owner about it just to strike up a conersation, get their email, or set up a meeting. It's all about meetings and discerning what their plan is with the property and doing what you can to help them.\n\nCalling people asking them to sell or buy isn't my strategy, but is widely used by people who just dial 500 people a week and get hung up on a lot. I try to be respectful, give them something of value, and offer my services to just walk their property and give market insight.\n\n99% of deals in commercial real estate will be outbound cold calls, which is why it's so hard. You get rejected and cussed at sometimes, and the hardest part is leaving thousands of voicemails that probably won't get listened to. Much less setting a meeting with someone who just happens to be in the market to sell or buy, and who just happens to like you and what you're telling them. You could get the right guy on the wrong day, and someone else will call them a week from then and get the listing. It's a numbers game for sure!\n\nLastly, I would advise against buyer rep/tenant rep because it can be a big waste of time. The more listings you have, the more control you have. A buyer can string you on for 6 month sand just decide they don't want to buy anymore and you've wasted 6 months on them for no return. If you have a listing reasonably within market, you'll probably sell it and make some money.\n\nGood luck!", "replies": [{"id": "hv6umas", "text": "Sweet, thank you for your insight", "replies": [], "depth": 4}], "depth": 3}, {"id": "hv6yqu9", "text": "If you want to get into CRE, then switch from a residential firm. Cold calling is part of it, but most of it is going to a firm with a solid foundation that has incoming business that can be delegated to you. Tenant Rep is completely worth it. Those deals build relationships and expand your network. Take the small requirements at first and work your way up. Be honest and ethical. Yes, some tenant and buyer rep deal fall through, but when you land one for a ton of SF and high rate, it\u2019s worth it. It\u2019s feast or famine in this industry.", "replies": [], "depth": 3}, {"id": "hv7lc07", "text": "&gt;  How is it different in CRE? Do you cold call business owners and see if they want to buy another location? I would like to get more into CRE, just don\u2019t know how to find leads in this world.\n\nJust speaking for myself, but I try to put myself in situations where I meet business owners.  Join civic business associations, when you go to a small business speak to the owner.  Send a fb message when someone expands.  Its not all \"Hey heres my card \" but build relationships.  If you get lunch somehwere every week you shouldnt be hard selling them everytime they see you, but they should know who you are and what you do and they should like you.  \n\nBuild relationships", "replies": [], "depth": 3}, {"id": "hv8qyum", "text": "Go after a restaurant listing and it gives you a reason to call other restaurants. Controlling the property is easier than tenant rep calling local restaurants.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hv6o71c", "text": "Find a successful mentor", "replies": [], "depth": 1}, {"id": "hv6odqm", "text": "Know how to underwrite", "replies": [{"id": "hv6y2d1", "text": "I freelance underwrite if anyone wants to hop on a call. 3 years underwriting institutional grade CRE", "replies": [{"id": "hv81mfy", "text": "What do you charge and do you want a job on a capital markets team", "replies": [{"id": "hv8rky9", "text": "70 an hour or we can do on a fixed price per project basis\n\nI\u2019m employed full time but do it as a side gig. Capacity up to 30 hours a week", "replies": [{"id": "hvgdvl7", "text": "&gt;I set up a lead gen website and a ppc campaign to target tenant rep prospects in my market.\n\nHow do you get into that as a side-gig? That seems perfect for me!! I do resident management side gig but want to also do things that aren't based on one property. My goal is to dump all the money into investing.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hv704qf", "text": "Join your local BOMA chapter and network at meetings. Take notes.\n\nEdit: daily advice oops. Since there\u2019s not a meeting daily read all up on industry materials.", "replies": [], "depth": 1}, {"id": "hv7w53r", "text": "Call somebody you know, but maybe not well. Met at a cocktail party, got a card?  Call.  Met somebody at a kids birthday party?  Call.  Linkedin badass who's career you'd like to emulate?  Call.\n\nDon't force a sale, or listing, or anything.  Just call to say hello and acknowledge whatever brief connection you might have made.  Basic socialization is so much more succesful than cold calling, hiring setters, any of that shit.  Just show up, say hello, and know your shit if you do get asked a question.", "replies": [{"id": "hv803hz", "text": "The last part of what you said resonated with me. My broker encouraged me to take a public speaking class at a local community college. I took two in college, but that had been years ago. What it taught me (reminded me) to do was drop the \u201cum, like, I think\u2019s\u201d out of impromptu conversation. Practice conversations you know are bound to happen. Your conversation flow takes intent and practice.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hv7x5b6", "text": "Be talking to people constantly, always. I spend more than half my day on the phone. Stay efficient with phone calls however.", "replies": [], "depth": 1}, {"id": "hv7zwak", "text": "Prospecting is right, but I'll give you one bit of additional advice I received as a newbie 'Every day, touch every deal you have and move it forward\"\n\nDistinctly one thing to prospect (critical) but as you grow clients and pipeline, it's equally as important to keep those new clients moving forward.\n\nIt's a balanced even seniors struggle with. \n\nBonus for later on: Learn to distinguish from a real deal and what isn't- so you don't spend your time chasing unicorns\n\nEdit: LMK if you've perfected the recipe to the latter...", "replies": [{"id": "hv81rnf", "text": "Only thing you have at the end of the day is your time so be intentional. Great tip", "replies": [], "depth": 2}], "depth": 1}, {"id": "hv84jqh", "text": "From 7 years in the business check tomorrows calendar every night before you go to bed.", "replies": [], "depth": 1}, {"id": "hv98xmv", "text": "Landlord rep - Constant contact with clients will ensure a long life of listings which in turn brings transactions. \n\nToo many people try to over complicate things. \n\nIt\u2019s a service industry. Provide good service, be honest, reliable and forward thinking and everything else should follow.", "replies": [], "depth": 1}]