Posted: March 30, 2017 by Paul Cohen, Regional Director
LESSONS LEARNED V – THE FINAL INSTALLMENT OF BROKER ADVICE
Here’s the final installment in our 5 part series on advice from commercial brokers around the US. In all, we heard from 25 Top Brokers who shared experience from over 500 years in the commercial real estate business. I hope you enjoyed it. While we won’t be posting any more, feel free to comment on LinkedIn and share your wisdom.
Moss Withers, MBA
NAI Carolantic Realty, Inc., Raleigh, NC
There seems to be a trend of those wanting to discuss getting into the business now a days and sitting down with me to discuss. It’s funny how that lines up with market confidence. My advice stems around marketing yourself. The job in itself is easy. What’s key is convincing the market that you know what you are doing. It doesn’t work if it’s coming out of your mouth, it needs to come out of others. That’s clients, media, newspapers, business journals. Get out there and meet these people, they are a great asset.
Gregg Fous - Founder
Market America and Investments Inc., Sarasota, FL
From his blog: Ten Things I Like to Remind Myself Every Day
- Focus. On the task at hand, the ball, the next step. Narrow your territory, your efforts, if you have a "to do" list focus on the first two things on it.
- It's only called work if you would rather be doing something else. If you spend too much time working, change what you do.
- Answer the question you want to answer, not the one that is asked. Don't let others drive your discussion, stay on track and make your presentation.
- It's about the relationship. It's not about price or product it's about the relationship.
- If you see it, get it now, from where you are. Don't wait for a better position, time or place.
- You can't skip the basics. There are short cuts to the goal but to fail is just as short. Refine your basics and they will become a second nature to you. Habitualize them.
- Write a list. Let your ideas gel on paper. Work your list every day.
- Most people die in bed. Get out of bed. It's a very unsafe place. No great philosophy here, you gotta get outta bed to make things happen. You have to move to steer.
- Don't hate. Just refuse to like. Hate takes energy away from good things. Indifference takes no effort.
- What a great country! Bailouts, taxes, etc., BUT. . . It is still the best place in the world!
Herb Lubansky - Founder
Herb Lubansky Realty, Daytona, FL
One word that I give you not to use in any email or presentation is the word "IF". This word in my opinion seems to leave a question of doubt to any reader or person you are talking with. Try to use a more positive phrase of words to get your thoughts and conversation across. The word "if" can be an E Z button in a fast paced society, by taking the challenge upon yourself to say or write something more positive in what you are presenting to a Buyer or Seller can set yourself apart from others.
Luli Cannon - Leasing Executive
RMC Property Group, Tampa, FL
Listen more and talk less. The act of active listening is an art that takes time to master. It is human nature to want to interject a conversation with questions and antidotes. These are normal parts of a conversation, but an experienced broker knows that timing is key. Know when to ask questions and know when to share stories. When the conversation allows for the perfect timing, it is your cue to delve deep into your client's true needs. This will save you from running in circles trying to achieve a goal that is not necessarily a mutual goal. You have to know your client's needs inside and out. Learn what motivates the client and you will not only succeed but also develop long lasting relationships.
Paul Cohen is a Regional Director with CREXi based in the firm’s Miami office and focused on business development in the southeast. Prior to joining CREXi, Cohen was a Managing Director specializing in investment sales and equity raises at Cohen Financial, a national debt and equity advisor. Prior to Cohen Financial, Paul owned and operated his own independent real estate firm following a 12-year tenure at CBRE where Cohen was a Senior Vice President and led the Private Client Group in Miami-Dade County with a specialty in office and industrial investment sales. Email Paul