Here's how you can navigate a mid-career change in Corporate Real Estate.
Contemplating a career change can be both exciting and daunting, especially in the field of Corporate Real Estate (CRE). This industry, which deals with the acquisition, management, and sale of commercial properties used for business purposes, requires a unique set of skills and knowledge. If you're considering a shift into this dynamic sector mid-career, you might wonder where to begin and how to ensure a smooth transition. The following insights will guide you through the process of navigating a mid-career change in Corporate Real Estate, helping you leverage your experience and adapt to new challenges.
Before diving into the CRE industry, it's crucial to evaluate your current skill set and see how it aligns with the demands of the field. Corporate Real Estate is a multifaceted sector that values financial acumen, market analysis, negotiation skills, and legal knowledge. Understand the transferable skills you possess, such as project management or strategic planning, and identify areas where you may need further development or certification. This self-assessment will be your roadmap for the transition, highlighting your strengths and pinpointing the gaps to address.
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Wilson Ang
Real Estate Consultant for the Middle Income Employee| Building 6 Figures Passive Income for busy PMETs in Singapore through Real Estate
A Real Estate business is a combination of Sales, Marketing, Accounting, People Management and Investment. If you are pivoting into a new career in Real Estate, start with what you already have in your previous career and use that as your leverage to build your real estate career. For example, I had sales management skillset in my previous roles and used that as my advantage when I started out in Real Estate.
The next step is immersing yourself in the CRE industry's specifics. This means getting a grip on the terminology, understanding the trends, and recognizing the key players. Subscribing to industry publications, attending webinars, and joining professional associations can be invaluable in building your knowledge base. It's also beneficial to network with professionals already in the field to gain insights into the day-to-day realities of Corporate Real Estate and to receive advice on making the transition as smooth as possible.
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Wilson Ang
Real Estate Consultant for the Middle Income Employee| Building 6 Figures Passive Income for busy PMETs in Singapore through Real Estate
Going into a new industry is never easy. The key is to have a intern mindset, learning anything and everything. Be open, and be humble, be exposed to everything as fast as possible. Reach out to industry experts for advice and be a hungry and foolish intern again. 🙂
Gaining relevant experience in Corporate Real Estate might seem challenging at first. However, you can start by seeking opportunities within your current job that relate to real estate or by volunteering for projects that can showcase related skills. Alternatively, consider part-time work, internships, or shadowing a CRE professional to get hands-on experience. This practical exposure will not only enhance your resume but also give you a clearer picture of whether this career path aligns with your interests and long-term goals.
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Wilson Ang
Real Estate Consultant for the Middle Income Employee| Building 6 Figures Passive Income for busy PMETs in Singapore through Real Estate
Your first deal is always going to be the toughest. But take extra time and care to make sure it goes through smoothly. The first successful deal will set you up to deal with the next one with more confidence.
With new skills and experiences under your belt, it's time to update your resume to reflect your readiness for a career in CRE. Highlight relevant experience, even if it wasn't in Corporate Real Estate specifically, and tailor your resume to showcase how your background can be an asset in this new field. Use industry-specific language and emphasize any training or certifications you've obtained that are pertinent to CRE. A well-crafted resume is a critical tool in catching the eye of potential employers.
Networking is key in Corporate Real Estate, just as it is in many other industries. Start building connections within the CRE community by attending industry events, joining online forums, and connecting with professionals on social media platforms. Engaging with peers can lead to job opportunities, mentorships, and partnerships. Remember to offer value in your interactions; networking is a two-way street. Share your insights, offer help, and be genuinely interested in others' experiences.
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Wilson Ang
Real Estate Consultant for the Middle Income Employee| Building 6 Figures Passive Income for busy PMETs in Singapore through Real Estate
Other than real estate professionals, also reach out to bankers, mortgage broker, renovation experts, cleaners, painters.. having a wide range of relevant contacts is needed in your role to meet your clients needs.
Finally, when you're ready to make the leap into Corporate Real Estate, do so with a strategy in mind. Whether it's targeting a specific niche within CRE that aligns with your background or choosing a role where there's high demand for your skill set, having a clear plan will guide your job search. Consider all employment options, including corporate positions, consulting roles, or even entrepreneurial ventures within the industry. A strategic approach will increase your chances of success in your new career path.
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