Somewhat new to the industry - how did you find a mentor?

Hey guys,

A little background, have been working for almost two years in investment sales out of undergrad. Smaller shop, not a CBRE, JLL, etc, but top 10 in a major market. Am thinking about switching out of brokerage (goal is development) and this has lead me to the thought of a mentor. 

When did you find your mentor? For me, my direct boss is hands off and obviously can't go to him saying I want to leave/dreams of what I want to do. I have/plan to reach out to the same people I did coming out of undergrad I know well and they have given me good advice, but they're busy and don't have the time to answer everything. The other people I know well are my age and while they have good experience at top firm's in the industry, they don't have a huge range of experience. 

Kind of lost with where to go from here and I feel a mentor in the industry would be very helpful at this time. I feel like others may have found a mentor by now and seems I'm leaning on industry related sites, advice from the different people I'm speaking to, and where I'm setting my goals - but to be honest don't really have a "reality check" on what's realistic/an experienced person saying I really need xyz to get there.

So am curious, what are your stories on finding an expereinced mentor in the industry who knows what they're talking about? Have you done well without one? How did you find your path to where you are now?

 

I think for someone in your position, there are two good sources to work with...

1. Alumni network - tends to be the most loyal/helpful, using linkedin or just looking for friends of friends. If you had any real estate courses, or closely related finance classes, reaching to your fav professors for connections is a good move.

2. Professional organizations - These are the NAIOP/ULI types, some have organized mentor matching, but you can generally approach senior members and use the affinity of the group for help. 

Longer term, former bosses/colleagues will be powerful (assuming you keep in good graces), even some well connected former professors can be good mentors. But this is more personally hit or miss and hard to just dig and find (i.e. if you have a good one in these categories, you should know it already). 

Overall, it is very smart to have mentors. I think of them in two buckets "senior" mentors (i.e. they have very senior level titles in the industry), and "peer" mentors (i.e. just above your level by a few years). The more experienced you get the more "mentorship" can almost be a two-sided road of connection, you can help each other. 

 
Most Helpful

Fantastic question, OP. 

To add to the two great response above, I will also add two more. 

The first is During Interviews.

I've talked in this forum many times about making sure you maximize the interactions with people whom you actually meet with. Yes, most cold emails are going to disappear into the void, but when someone important actually takes the time to sit down with you (or talk on the phone/zoom these days), and they tell you they don't have a spot for you at this time, that is not the end. On top of staying in touch for the future, and asking who else that person recommends you meet or can introduce you to, in some cases that person can also become a mentor - particularly if there is no real opportunity for you to work for that person in the immediate future. 

One of my best mentors is someone I initially wanted to work for. I cold emailed a guy, grabbed breakfast with him, and he shot me down almost immediately. That was over three years ago, and yet we still grab breakfast once a quarter, because we've both put time and effort into a professional relationship and a friendship that has yet to "pay off" for either of us, but could one day. He talks to me about the office development world and his daily struggles with being a principal and I talk to him about multifamily and how to coordinate mixed-use projects, which they are increasingly getting into. We've recommended architects and GCs to each other, I've bounced new job opportunities off him to get his opinion on them, and he is a fantastic source of perspective for me - not just with work but also with life. 

The second is People Roughly Your Age With More Specific Experience

I am in my early to mid 30's and have worked in real estate my entire professional life, but that hasn't always been in development. I can think of two people - Count_Chocula on this site and a coworker of mine in "real life" - who are roughly my age but have either been in a market I was interested in longer than I was and/or have simply been on the ownership side longer than I have. People tend to think about "mentors" as only grey haired people who have 20+ years on you, but you can't be afraid to connect with people who are roughly the same age as you if they have something legitimate to teach you. It takes a certain level of humility to ask for professional advice from someone around your age, but it would be nonsensical to discount valuable knowledge and experience out of pride. 

Essentially, a mentor is anyone who you make a connection with who is able to guide you in some way. You don't have to sign on the dotted line and make it official in any way - just build relationships and appreciate the knowledge you absorb. 

Commercial Real Estate Developer
 

CRE  is underselling how stong his networking game and general ability to hustle is... I'm pretty sure I just gave him names of people and made some email intros and he did the rest.  

At a base level, these guys have laid out a great path to follow, and I don't have a ton to add.  Half of mentorship is having the wherewithal to ask for it, and then it is on you to be a good recipient of that help.  As with all things, follow-up, gratitude, and authenticity will take you 99% of the way there.

My best mentors have been former colleagues and bosses.  They have been able to make warm intros to folks in markets I've moved to / have picked up over the years.  As I've become more senior, that has become a two-way street, and I've been able to refer folks their way and "return the favor."    

I'm also still in close contact with two former ULI mentors who have been huge helps to me, less on the job front, but more on how to position internally for promotions and how to screen potential job opportunities.

 
Funniest

Having something in common is key. We were both sleeping with his wife at the time so I used that as a hook and we took it from there

 

one of the funniest things i've read in a minute lol. 

 

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