How to Stay Motivated in Brokerage
With the proper mindset, tools, and know-how, it is possible to create a long-lasting successful career in commercial real estate.
First and foremost, enjoying the career you devote hours of your day pursuing is essential. That love for what you do will keep you moving along in times of difficulty. A better broker is willing to sacrifice to succeed. This may include working long, strenuous hours, missing vacations, spending less time with family and friends, or weekends in the office. However, to achieve a successful career, a broker must understand the opportunity costs that will eventually lead to achieving your long-term goals. These long days will be challenging, but if you exhibit an internal path to success, nothing will stop you. You have to want it and be willing to do whatever it takes to get there- even if that means missing a celebration or two.
1. Be resilient:
Becoming a leading individual in commercial real estate is not a feat that comes easily. There will be deals that fall through, clients that work with competitors, developers that back out, countless back-and-forth negotiations, and much more. If you can accept that there will be more nos than yesses in the beginning, you will achieve success. Setting expectations beforehand is key to working in the CRE industry. It is about finding joy in the small wins and building to greater accomplishments. Understand that failures are not failures if you learn from them. If you already mentally established that there will be rough days, you will find that your day becomes easier, and burnout becomes avoidable.
2. Set long-term goals and stick to them:
As a broker, looking at the bigger picture is crucial. Every forged relationship, listing appointment, phone call, and marketing strategy leads to a long-term goal. Take the time to set career goals and look at every hardship along the way as a step that brings you closer to achieving those goals. If you can look past present uncertainties and keep your eyes ahead, you will find that hard work comes naturally.
3. Look for solutions through technology:
Utilizing the resources available is key as a broker because it will make your job easier. Becoming fluent in tools of research, mass communication, and sales tracking will not only help you obtain data but help interpret it. Technology is vital in reaching a wider audience, expanding your clientele, staying up to date with economic trends, monitoring consumer spending habits, and locating opportunities in the market. Finding a brokerage that also understands the importance of technology is necessary.
4. Surround yourselves with like-minded individuals:
It is important to be in the company of people who will push you forward, not hold you back. When building a successful career path, it is essential to associate with others who have similar goals and ambitions. Those people will motivate you to do better and will also understand the sacrifices you will have to make to achieve success. Additionally, it is essential to find a brokerage that matches your same ambition and mindset. Being a part of a company culture that emphasizes hard work will motivate you to achieve the most out of your career. Surrounding yourself with positive, driven individuals will inspire and keep you on track.
The path to success in commercial real estate will take time. However, if you stay optimistic and keep moving forward, it will all be worth it. Remember that success is not achieved overnight, and your career is a long-term commitment.