Here's how you can navigate a career change to Commercial Real Estate.

Start by taking a few CCIM courses, get your certification. At least you now understand a few things. Go get a commercial appraisers license and practice for 2-3 years. You will really understand all the value drivers, location, replacement value, the time value of money etc. Just as importantly you will see a ton of deals and meet owners, bankers, brokers, decision makers etc. It is an underappreciated pathway to becoming a knowledgeable and highly productive broker. You will be a valuable source of market knowledge and a connected networker that can add value to both sellers and buyers in any transaction. Save up some money and just jump!

Before I dove into commercial real estate, I had nearly 15 years of sales experience. Sales experience certainly helps; however, it's important to understand that a new industry will always require learning new methods and systems to get acclimated in the business. Fortunately, I had mentors who helped me through my development, allowing me to build relationships more quickly and gain instant credibility by leaning on my team's track record and performance.

The biggest obstacle that people will face when entering Commercial Real Estate is their own belief system. One way to get past this is to attend virtual commercial real estate investing networking events and become friends with those people. You quickly find out that these investors are not smarter than you and that they are ordinary people just like guys you went to high school with. A lot of people think you have to be a millionaire to be a CRE investor but the reality is that the majority of commercial real estate that is purchased is actually syndicated. That just means that a lot of people with diverse skills came together with the common objective to purchase large deals. Figure out how you can contribute to a team.

Any and all skill sets find their respective use in the Real Estate industry, so if you've set your mind to explore CRE - go for it. However, the caveat? No skill guarantees that you'd love CRE or excel at it. Thus, it's very important to keep an open hungry mind while acknowledging that experience makes all the difference in this industry and is irreplaceable. Give yourself a set timeline to achieve a particular target and learn from every possible source (mentors, colleagues, and partners) Don't be afraid to ask questions and lean on your team for support. A good temperament and decent communication skills with the right network can open many unexplored doors.

All of items mentioned in “Assess Skills” are very pertinent. Prior to switching to Commercial Real Estate I worked at IBM - Marketing I worked with clients like - GM, Ford, Univ. of Michigan. I will talk to Executives and their Department Heads to understand their Business Challenges and recommend IBM Hardware + Software solutions. I leveraged that skill talking to my Prospects in CRE to help them find the “Right” property to invest into.

Any job change's foundation is networking, particularly in the commercial real estate industry. I joined local real estate associations, went to real estate seminars, and connected with people in the field on LinkedIn. Speaking with seasoned experts gave me priceless possibilities and insights. These contacts frequently opened up to me about their experiences, gave me advice, and even put me in touch with possible work opportunities.

Meet with anyone and everyone at first. Develop your "story" and tell it to anyone who will listen. Share why you entered commercial real estate and what your goals are and ask people how you can help them, then ask if there is any way they can help you. You might find a good mentor through this which is key in the early years. Look at other brokers as collaborators and friendly competitors. Be curious and ask questions. You never know where the next opportunity might come from. A simple lunch with a banker, other broker, architect, engineer, business owner, etc can lead to significant commissions.

As a new broker, you cannot have enough market knowledge. Spending a couple years understanding every available building in a certain segment will skyrocket your credibility to the market. In the industrial sector; understanding building depths, FAR, truck parking ratios, and tenant size demand will help you stand out from other brokers that narrow their focus to building sizes, column spacing, and clear heights.

The CRE market is dynamic. Be prepared to learn new skills, adapt to changing market conditions, and adjust your career goals as needed. A willingness to learn and be flexible will be crucial for navigating market changes. Volunteer your skills: Offer your skills to CRE-related organizations or startups to gain experience and build your network. Consider a transitional role: Look for positions that bridge your current career with CRE, allowing you to gain relevant experience while transitioning.

The residential and commercial real estate markets are very dissimilar. I thoroughly researched the market to gain an understanding of these subtleties. I took online classes, went to seminars, and subscribed to trade publications that covered leasing, investing in commercial real estate, and market trends. With this information, I was able to provide clients with insightful advice and make well-informed judgements.

If you start at a commercial firm as a broker your first deals will most likely be helping more experienced brokers work on deals in their pipeline. Do whatever they need of you and thank them for the opportunity to learn. Don't be discouraged by the percentage of the commissions you earn. Take some initiative and become the expert at something (land values, retail lease rates in a specific area, industrial space availability 50,000sf+, etc.) Specialize as early as possible. It is easier to prove your knowledge of a specialty vs being a generalist when starting out.

In this field, experience is priceless. At first, I worked on smaller business ventures like managing retail stores and renting office space. I was able to put my knowledge to use professionally and develop a portfolio of commercial real estate experience through these ventures. Volunteering for difficult tasks let me demonstrate my abilities and obtain practical experience in my workplace.

To make a name for yourself in the cutthroat commercial real estate market, personal branding is essential. I updated my LinkedIn profile to reflect my experience and commercial ventures. In order to further position myself as a thought leader, I also began penning articles on trends and insights in commercial real estate. In the industry, consistent branding initiatives raised awareness and credibility.

Be Patient and Consistent: Building a strong brand takes time and consistent effort. Regularly create content, participate in discussions, and network to establish yourself. Showcase Your Value Proposition: Clearly communicate what you bring to the table for potential employers in CRE. How can your unique skills and experience benefit their company? Develop a Professional Online Presence: Optimize your social media profiles and ensure your content aligns with your brand image. Develop a Personal Narrative: Craft a compelling story that explains your career transition and your passion for CRE. This narrative can be used in networking conversations, resumes, and online content.

Engagement always pays off, whether it's through joining real estate associations, pursuing independent learning, or attending events. And even if you lack experience, don't be discouraged. Engaging with professional literature, networking with industry peers, or attending conferences can help you build the necessary skills and knowledge.

I recommend: While working in your current position, enter an evening program (Diploma or Masters Degree) in Commercial Real Estate. Learn the language of professionals. There, network with brokers to find out what the reality is. If you decide to move forward, be sure you have at least one year in savings to support yourself while learning the basics of brokerage as well as license law and tests. Be sure to join one of the top agencies which offers ongoing in-house education, commercial real estate databases, a diverse environment, as well as, opportunity for advancement and achievement.