Mentoring Benefits? It Keeps You Relevant

7 years ago 0 1 2374

We all know the older you get, the harder it is to adapt to the market. It’s not easy to change what you have learned for your whole career. But to continue to thrive, you absolutely must adapt and see your business as it has changed. As discussed in previous blogs, new technology plus the impact of Millennials has accelerated real estate industry changes. This creates new opportunities, but causes some existing properties to become obsolete and some previous practices to become unprofitable. Of course, there will always be industry constants. Deal fundamentals, you have to know. And you still need money; tenants still need to pay rent; and stable tenants are still desirable. What shifts is this: you have to apply these fundamentals to a different set of parameters. Enter the new recruit, The Bridge between past and present. How Does This Benefit You? Let’s be frank: some of

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Mentoring 102: On-the-Job Mentoring

7 years ago 0 1 2626

Mentoring 102: On-the-Job Mentoring  So, your mentee has landed her first commercial real estate position. She’s excited, engaged and ready to learn the ropes and land some deals. Despite her enthusiasm and drive, she feels overwhelmed and doesn’t know where to start. This is where you come in. In my last blog, “Why Mentoring Is Key to Future Success,” we discussed how a mentor assists with the initial career decision. As promised, this blog addresses how mentors can help young professionals start with necessary fundamentals. This is important because like golf, if your set-up is poor, a bad swing will follow. Fortunately, most real estate companies now use the team approach. Teams can consist of junior and senior members or of professionals with complimentary skill sets. This approach by its nature gives the novice both a focus and a mentor. For small companies, less team opportunities exist, so individual mentoring

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Why Mentoring is Key to Future Success

7 years ago 0 1 3392

Wondering how to make a marked investment in your industry’s future? Ensure young people have an interest in your business and give them early access to keys for success. It is my experience most college students interested in real estate want to be developers. After all, developers are the driving force for the industry. But few really understand what the development business entails, and they know little about other wonderful opportunities the real estate industry offers. Colleges are not fully preparing these aspiring real estate professionals for this industry. While many graduate with adequate subject knowledge, they’re unsure which discipline to pursue or for which niche they are best suited. Mentoring 101: Start with Coffee That’s where we—established industry players—need to step in and help out. Helping these young people start on the right foot can be as simple as meeting for coffee and asking the following questions: Why do

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