Starting a new career as a commercial real estate Broker is an exciting, but also stressful time. Whether you are new to the business, or have been around the industry in some capacity, any new Broker will tell you there is a lot to learn. While the draw of a commission-only career is most certainly the earning potential, you don’t become a successful commercial real estate Broker over night.
Not only do you need education and familiarity with the transactional act of commercial brokerage, but your new workplace and technologies as well. No commercial real estate firm is created equal and, as such, each operates in its own singular way in terms of management and CRE technology platforms.
So, how is a new commercial real estate Broker supposed to not only keep his head above water, but also see production growth? The answer is TRAINING. Not only should a new Broker seek to take an active, accountable role in their own education, they should seek a commercial real estate firm that wants to invest in their training as well. By doing so a new Broker transitions himself into the industry, learns what not to do and masters business efficiency. All things that add up to a successful future.
Getting Familiar with the Process
When you join your first firm as a new commercial real estate Broker you should go through an extensive on-boarding program to define and establish a profitable business process. This is the way your will conduct and run your daily CRE business, and is the first step in your training that will create a strong foundation for success.
On-boarding is where a new Broker builds their proverbial “commercial real estate tool box” and learns accountability, which they will use throughout their career. Here they ascertain knowledge about a firm’s procedures and processes, technology and marketing platforms, team colleagues and, industry best practices and methodologies.
By buying into the on-boarding process and making it important, a new commercial real estate Broker not only establishes their new business, but also sets it up for growth.
Learning What Not to Do
Training is important for a new commercial real estate because it teaches them the best principals for business success. It’s also crucial because it teaches them what not to do, which sometimes can be an even better lesson.
A large part of any successful training program is hearing best practices and cautionary tales from established commercial real estate professionals. Whether through online courses and lectures, in-person simulations, or from the Brokers in your office, expert advice from industry colleagues is a crucial component to building a lasting commercial real estate career.
This type of training takes your foundation level and adds in real world, it works because I have been there, knowledge. Just imagine trying to successfully acquire, find or sell any commercial real estate without that knowledge. You wont’ get very far.
Mastering Efficiency with Platforms
In today’s world there are tons of commercial real estate apps, technologies and platforms designed to enhance Broker’s productivity, efficiency and (ultimately) sales volume. Learning to utilize the right ones is an absolutely critical step to building business as a new commercial real estate Broker.
These technologies and systems give new Brokers a competitive advantage by establishing faster, smarter, and more efficient operations from the start, a major key to seeing success.
By learning these platforms through training, a new commercial real estate Broker gains the knowledge to streamline administrative tasks, making time for more in-person client interactions. Which any Broker will tell you is a key to expanded business.
New to the Business or Seeking a Career as a Commercial Real Estate Broker?
At Rosano Partners we believe that training is an integral part to becoming a successful commercial real estate broker. That is why we have developed an extensive Broker on-boarding and education program that consists of online trainings, personalized courses and lectures, simulations, boot camps and more. Click here to learn more about our broker training programs and then contact us to see how we can help your commercial real estate career thrive.