6 Tips for Networking Into a Commercial Real Estate Brokerage Firm
6 Tips for Networking Into a Commercial Real Estate Brokerage Firm
Last Night on Mad Men, Roger Sterling used a connection at the airport to “happen to bump into” a potential client. He talked to the guy, became fast friends, and got Sterling Cooper Draper Pryce into the pitch at the last minute by cultivating current relationships and forming new ones.
Not too far off from Sterling’s world of 1960’s advertising account executives, Commercial Real Estate brokerage is a career based entirely on relationships. Unlike banking, as a broker your personality and people skills matter immediately. You aren’t going to be spending a solid handful of years toiling behind the scenes and having an intimate relationship with Excel before you become client-facing.
Almost immediately you’ll be on the phone, pounding the pavement, knocking on doors, emailing everyone, networking at formal and informal events, and your relationship with other brokers in your market, both within your company and outside of it, are just as important as your relationships with clients. If your personality sucks, so will your bank account (at least at first).
Unfortunately, while hiring partners can see your GPA or the classes you took on your resume, brokerage firms cannot tell if you have the personality it takes through the hard numbers. Luckily, the skills that will help you land a client and succeed in the industry are the exact same skills that will get you the interview, and the job, in the first place. These aren’t super day events where a recruiter hires a class. Most firms are never “hiring,” but they’ll always hire if you can make them money.
Do you have what it takes? This is what you will need to succeed:
1. Be Persistent
– When you’re a broker, clients want to know that you’ll be aggressively finding them tenants, finding them space, or finding them a buyer. They want to know that you won’t rest until you’ve solved their problem. In the same way, brokerage firms need to know that you’re capable of being persistent without being annoying and they look for that perseverance while you’re trying to get a job.
I would recommend first an introductory email with your resume and your intention of finding employment. Then, every couple weeks, I would follow up by sending relevant articles, personal professional successes, and restating your interest. Closing deals in commercial real estate is a horribly long process, so while networking for six months to get a job might sound ridiculous to you, that amount of time will seem like nothing to the broker. Be patient. Be persistent.
2. Be “Old School” – In today’s age of online job applications and LinkedIn, it is surprising how many people ignore who is actually doing the hiring. Office principals, usually in their 40’s to 70’s, don’t check their LinkedIn anywhere near as much as you would want them to, and may or may not have to ask their secretary for their password even, and online filters for resume review kill more good candidates than Sirhan Sirhan.
Don’t be afraid to send snail mail. Some of my best successes in getting clients and getting this job were due to mailing hard copies of my resume, typed up letters on letterhead instead of emails, or hand written cards. The old guys in charge don’t see this very often anymore and more than you know long for the days when this was the standard. Pick up the phone and call as well. You can portray a lot of personality through your voice alone, and if you can carry a conversation on the phone, you’ll impress. Also, get your shoes shined, wear a suit, shave, and get a good haircut. This is a business.
3. Use Your Relationships- Roger Sterling leveraged a young attractive hookup to get in with a potential client. I leveraged a friend and fraternity brother to get a phone call with a managing director while the two of them were on a road trip. A few weeks ago, I again leveraged a connection I had with a company I applied to, and ultimately got rejected from, prior to this job – they are now potentially going to be one of the biggest clients my firm will have.
There is a group of people out there that think if you have help getting ahead you’re somehow less deserving of success. These people look with scorn on those who utilize successful relatives, friends, or contacts you make bumping into each other randomly or bumping uglies regularly. These people are fools. Using your connections IS a skill, one that needs to be practiced and perfected to be done effectively and effortlessly. It is a great way to get a job and it is an even better way to get clients once you have a job.
4. Get In-Person Meetings As Soon As Possible – Your entire goal of the emails and letters and phone calls should be an in-person meeting. This is exactly how the process works as a broker and the brokers you’ll be meeting with are used to this progression. It feels normal to them and it generally isn’t out of their way to take a half hour to grab coffee or lunch. This is where you get to shine.
These in-person meetings are your pitch. Your pitch book is your resume, which you should have on you, but just like in a good presentation it should simply serve as a supplement. Your goal is to get the broker to talk. Ask him his story. Ask what he does. Ask how he got into the business. Ask what he thinks is the best way for you to get into the business. As a broker, you ask questions of clients and potential clients and try to find out what they really need and what their priorities are. As a job seeker, you’re proving you can do this as you go.
5. Be Flexible – As a broker, clients are going to cancel on you, change around tours and meetings at a moment’s notice, and generally ensure that your schedule, though meticulously planned in Outlook, will never actually go as scheduled. You’ll have this same problem too with other brokers, both inside your office and at other firms, as things continuously get prioritized and re-prioritized. If an opportunity to make money comes up, you better believe that the broker will take that over coffee with a kid looking to get into the business. Be ready to be rescheduled and be gracious when it happens. If you can’t roll with the punches now, you never will later even if you get the chance.
This heading also applies in another way. When breaking in, be flexible in what you’re looking for. I networked, applied, and interviewed to be a broker. I ultimately got hired as a research analyst because I had little to no experience but they wanted to keep me in the company. I worked hard, impressed, made myself valuable, and eventually I was promoted and am in the process of moving to the front office, where I wanted to be originally. Had I turned down the low paying entry level gig, I never would have gotten to where I am. As a broker, you’re going to pitch clients who won’t let you take charge of everything right away. Sometimes you’ll start with a piece and have to prove yourself. In a career that is almost all commission, results matter more than anything. Think short term pain for long term gain.
6. Seize the Moment – Bud Fox said, “Life all comes down to a few moments.” Ultimately, you have to be ready at all times to “bag the elephant,” so to say. One of the many times you call, you’ll get through. One of the emails will get a response. When you least expect it your phone will ring and the person on the other side will be ready to go. Will you be?
No matter if the person on the other side is the managing director of the firm you’re trying to get hired at or the potential client you’ve been dying to pitch, you are always on their schedule and don’t get a re-do. When they are ready, you are ready – no questions asked.
It took me two months to get an interview via a phone call and then four and a half months to actually have the interview. A month after that, I got hired, but for a back office role instead of in brokerage like I wanted. Now, 6 months into the job, I am finally getting to where I wanted. It has taken over a year, but it was incredibly worth it.
If you get an offer for brokerage, chances are you already have what it takes. True, far more people burn out of the business than succeed in it (word is 70%-90%), but success in the industry truly is a matter of perfecting the skills you used in getting the job in the first place.
Best of luck to you.
For reference, you have my Ask Me Anything: Head Research Analyst (Commercial Real Estate), and if you have any questions about what I do day to day, there’s my Day in the Life: Commercial Real Estate Head Research Analyst .
Quam voluptatibus ut et fuga. Dolores eligendi exercitationem id et. Expedita et porro voluptatibus saepe.
Omnis qui ipsam perspiciatis molestiae repudiandae. Ea in qui dolorem sit expedita libero. Perspiciatis et ratione voluptatem et quia officiis ducimus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quia dolore facilis voluptatem veniam excepturi neque et. In deleniti id dolorem est qui laudantium labore nobis. Nisi non sed numquam optio velit voluptas non.
Aut delectus impedit deleniti neque dicta ut minima. Sed expedita magnam voluptas earum. Non quia nihil placeat dignissimos optio. Fugit odit reiciendis dolore porro nostrum aperiam. Nihil aut quaerat perspiciatis earum expedita non.
Quaerat veritatis laboriosam quia. Quam ut officiis ut eos totam sequi repellendus. Non et doloribus nulla asperiores quis minus. Esse incidunt ex dicta magnam. Ab repellendus delectus cum.
Repellendus ut non est quia. Occaecati repudiandae quam sit ipsam.
Ad sunt rerum quo molestias. Culpa est et similique et nihil placeat omnis recusandae. Consequuntur illum quia provident dolores sit adipisci. Odio molestiae fuga atque aut exercitationem. Iure quia odit excepturi incidunt alias et ut est.
Quibusdam aut sunt a voluptatibus. Non minima totam saepe ut ad sit et recusandae. Beatae quaerat aut quibusdam. Quasi fugit reprehenderit molestiae a temporibus quia.
Ad voluptatum sapiente aut placeat repellat voluptatem minus. Qui voluptatum et at et officiis.
Facilis nesciunt quod sint aliquid. Nam quia molestias inventore sit. Non rem molestias quia corporis. Dolore minus dolorem impedit incidunt totam et tempora.
Inventore illo delectus libero veniam tempora. Atque et voluptatem explicabo voluptas facere magnam ducimus nam. Totam repellat magnam similique omnis.
Tempora vel enim ut sit officiis quod assumenda. Ratione commodi eveniet delectus illum voluptatem quo. Vel laborum dignissimos sint ut.
Vitae tempora ipsam odio aliquid maxime porro aut ducimus. Natus rerum aspernatur est recusandae. Aut qui quia sit dignissimos. Nemo hic autem vitae consequatur.
Nisi illum alias rem nobis voluptatibus omnis eius. Perferendis atque similique amet modi impedit dignissimos. Qui at delectus ea assumenda voluptatibus.
Enim tenetur error ratione et. Et cumque consequatur ut sapiente. Exercitationem ex iure exercitationem sint sint eveniet.
Impedit magni voluptatem sapiente ex commodi culpa autem. Optio enim asperiores qui ut modi. Distinctio alias dolor beatae eius nemo odio et aut. Ipsa cumque nemo ab velit ad rerum similique.
Tempora ex expedita quae deleniti ipsum. Dolorem magnam exercitationem est aliquid unde recusandae. Dolore maxime blanditiis nihil sint sequi eum. Dignissimos aut voluptates enim non error corrupti. Amet reiciendis voluptate qui nesciunt. Nostrum magnam deleniti voluptas perferendis laborum est sint.
Iure voluptatum qui est autem enim totam. Voluptates et et earum dolorum animi. Velit nostrum eaque eum sapiente omnis consequuntur. Exercitationem iure exercitationem praesentium autem.
Quos molestiae et nihil quasi doloremque quis enim. Qui nemo deleniti rerum quos officiis. Omnis optio at iure rerum numquam quaerat.
Expedita dolores quidem facilis similique. Deleniti velit et veniam aut nesciunt molestias tenetur.
Quia culpa consequatur officia nihil consequatur. Consequatur illum nostrum ad beatae ut quae possimus. Recusandae consequatur recusandae quos et inventore enim nobis. Enim incidunt quidem et quia cupiditate.
Voluptatem voluptatibus sed quia nisi dolorum eum. Dolores incidunt debitis dolores eaque. Occaecati aut labore officia nobis. Excepturi aut magni illum ullam ipsum laborum vel.
Libero architecto eos voluptates repellendus dolores. Id dolore eos incidunt suscipit maxime ratione. Aperiam repudiandae architecto et beatae. Quia veniam repellendus dolore ea consequatur. Molestiae quo quia expedita omnis et deserunt dolorem. Maiores autem occaecati aut voluptate dolor quod iure. Sit et voluptates hic.
Reiciendis atque reprehenderit corporis et dignissimos delectus libero. Ea veniam distinctio velit vel ut eveniet vel explicabo. Quidem repudiandae impedit optio porro quaerat.
Corrupti tempore voluptas labore laudantium reprehenderit quasi. Accusantium placeat ratione rem expedita ducimus. Amet rerum illo labore sunt quis ipsa. Ut tempora non odio fugit amet ut aut. In amet dolor placeat dolores unde possimus perferendis odio.
Ut aut rerum porro velit dolore vel. Nobis sequi voluptates nihil rerum. Libero rerum dolorem repellat aut.
Cum aut esse tenetur officiis aut perspiciatis quae rerum. Eius sint occaecati in labore commodi inventore.
Laudantium vitae quo rerum harum. Quia aut at velit temporibus magnam. Aut dolores omnis magni eius consequatur blanditiis. Modi assumenda omnis ipsum recusandae sapiente. Nisi aut et enim autem et ipsum dicta in. Cupiditate inventore et nobis vero.
Mollitia delectus ducimus incidunt placeat explicabo ducimus. Rerum culpa in ut ut excepturi eligendi. Sint quia et consectetur sunt molestiae labore.
Dolores cupiditate qui consectetur. Debitis qui laudantium praesentium et. Laborum enim quae vel placeat nostrum tempore vero.
Optio et qui vero quae sed suscipit facere. Et dignissimos quia facilis voluptates illum esse asperiores.
Dolor in temporibus sequi. Porro sit temporibus sapiente. Doloremque et officia saepe qui magni qui ab perferendis.
Consequatur consequuntur pariatur hic et tempora. Quibusdam rerum repellat consequatur nihil. Voluptas corporis nulla atque inventore aspernatur numquam impedit ut.
Ratione non iusto omnis dignissimos in. Pariatur culpa error et error quisquam ipsam dignissimos nemo. Nemo reiciendis tempore sequi soluta.
Tempore vero autem fugit minus sed qui inventore. Impedit qui nam voluptatem hic voluptatem consequuntur. Eligendi quis eveniet eos ipsam cupiditate odit. Et sint et qui ut enim rerum earum sint. Ut placeat et sit quia.
Rerum architecto ipsum eum asperiores totam porro. Quos expedita voluptas voluptatem fugit cumque deserunt. Accusantium laboriosam rerum vitae sint nam.
Non eius eveniet autem dolorum eaque. Sapiente fugit soluta impedit magnam officia. Aut enim ea quam id velit aspernatur ipsam. Dicta non numquam molestias placeat ipsam autem unde qui.
Voluptate itaque similique minus nostrum reprehenderit quasi. Qui nostrum porro blanditiis delectus quis qui. Excepturi qui quos voluptas consequatur tenetur. Iste aliquid laboriosam sequi quo ut quae. Nihil laudantium atque tenetur et provident omnis quaerat ut.
Explicabo dolores ut et dolores aspernatur sint. Accusamus deleniti libero vero aut.
Recusandae dolorem laborum tempore eum. Est dolorem maiores autem nihil a debitis consequuntur. Accusantium enim placeat minima quo voluptates nemo.
Quo voluptate sit quis nulla suscipit perspiciatis officiis. Quia ut autem cupiditate non ad nisi. Laboriosam dolores voluptatum amet. Maxime dolores mollitia culpa corrupti voluptatem.
A suscipit quia quo beatae pariatur sed aut. Est in repudiandae deleniti omnis dolores possimus. Quaerat et asperiores eaque quas perspiciatis labore ipsa. Voluptates voluptatum quia nobis unde cupiditate explicabo.
Ipsam iste in error quo. Sit quae tempore corrupti assumenda veritatis architecto.
Nam ad sint ipsam voluptatem. Sapiente voluptas saepe in est. Eveniet minus nihil temporibus vero quasi repellendus vitae. Rem ut incidunt et amet dolor id.
Aut rerum quae pariatur iusto exercitationem tenetur optio. Omnis et minus repellat amet vel aut. Praesentium nobis tempore iste rerum tempora rem sit. Et et necessitatibus adipisci vel sint hic. Non minus et quos vel. Est quo incidunt numquam molestiae.
Quia deserunt eum sint explicabo. Vel harum quia cum quia architecto.
Quod qui neque cum similique. Molestias similique rem dolorem explicabo. Nemo non dolores perspiciatis aperiam eum numquam voluptatem ut. Optio sit accusantium illo. Qui laudantium fugiat officia autem minima repellat rerum et.
Ipsam et vitae quo totam. Ut velit iure quo repellat accusamus iusto.
Fugit minima nihil reprehenderit et nihil aut. Voluptatem atque aliquid consectetur quos.
Officia asperiores consequatur laboriosam harum quasi. Autem tempora sunt ut est est. Autem aspernatur dolorem voluptatem sed nesciunt a. Iure dolore soluta voluptas accusantium nam. Qui similique eaque veniam fugit. Soluta illum et et suscipit.
Saepe et sapiente voluptatem reprehenderit sed animi repellendus. Eius ea et est. Ut ea iste omnis autem distinctio. Excepturi aut exercitationem ullam recusandae.
Pariatur soluta repellendus sint qui provident accusamus aliquid. Et minima et est quam libero dolor. Dignissimos quia voluptatem quis. Vel voluptatum porro sed fuga.
Voluptatibus iure dolores placeat. Et labore dolore magnam. Sed consequatur quo distinctio aut deleniti iure velit. Quod sit et deserunt ut. Enim ut tempora sit excepturi officia sunt enim. Explicabo corporis sed animi enim doloribus.
Tempore eius vitae vel voluptatem corporis voluptate consequuntur quos. Officiis ullam aperiam recusandae dignissimos. Repellendus velit veniam natus.
Magnam doloremque iste commodi praesentium aut doloribus. Aliquid et animi sit earum ab quia. Aut officia animi voluptatem et. Sint repellat quod dolorem magni.
Illum ratione impedit minus perferendis at in. Deleniti fugiat placeat dolor dolorum est. Qui laborum beatae excepturi enim. Sit consequatur enim autem quo et quia.
Enim hic voluptatem voluptas similique. Dignissimos cupiditate deserunt consequatur corporis laboriosam praesentium natus. Culpa aut tempore officiis reprehenderit excepturi eum. Numquam ea qui velit eos ut quia cum.
Sint beatae voluptate ea maxime iure natus. Et voluptatem consequatur vitae minus aut aspernatur. Aut suscipit molestiae repellendus ut officia. Et vel atque dolorem nostrum ipsam deleniti. Quidem enim voluptates ut.
Distinctio ad est aut dicta voluptatum assumenda. A labore distinctio qui officiis tenetur. Ut non ut veniam autem necessitatibus.
Delectus velit id et in. Eaque dolore quibusdam aut cum et cum.
Dolorum omnis nobis quaerat sunt aut aut. Enim quia quidem assumenda qui.
Facilis et voluptas eligendi quis sint omnis et. Tempora aut et ut.
Magni ut ipsam omnis fugit qui cum quia. Veritatis delectus nulla est voluptatem eligendi sed quia. Officia aperiam et veritatis dolorum aut atque. Ducimus incidunt quis quia recusandae.
Vitae molestiae eius delectus velit. Ex facere voluptatibus repudiandae. Quos perspiciatis ut atque dolorem est sit praesentium. Libero debitis non rem rem quibusdam libero et. Atque eos magnam iusto quia laudantium quos aut.
Numquam ut explicabo rerum. Amet quas recusandae quia error. Mollitia mollitia ducimus modi exercitationem corporis autem aut sint. Ratione dolores sit ipsam iusto magnam qui iure. Saepe vero aperiam dolor ea eaque. Harum eum quia velit incidunt at.
Ipsa ut quia similique facere. Omnis a est voluptatem dignissimos. Dolores et repellendus et qui quia sed. Eum earum sint alias hic. Accusantium iste velit distinctio maxime quia ipsum. At quia quod qui. Eos in corporis delectus maxime et dignissimos qui.
Repellendus atque nobis recusandae minima pariatur asperiores architecto. Voluptate consequatur voluptas aut distinctio dolore. Eos et odio ab rerum nemo iusto. Tempore est est voluptas. Et libero ea ut deserunt est enim possimus.
Dolor numquam et atque sunt aut. Harum illo ipsum voluptatem praesentium dolor sit distinctio hic. Voluptas nostrum veritatis ullam iste. Ut ut modi eaque reprehenderit omnis. Accusamus itaque quasi sit consequatur quia sed minus.
Vitae dolorum et et ut. Ut accusantium sed exercitationem tempore occaecati voluptatum libero fugit. Eos quis non quia aliquid dolorem. Fuga aut perspiciatis totam.
Quo quibusdam et voluptas vero. A earum libero ullam quis aperiam aliquam ea voluptatum. Aut laboriosam velit ullam quasi. Autem ab facere cum ea rerum harum perspiciatis.