8 Tips For A Successful Career In Real Estate - Sun and Planets Spirituality AYINRIN
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Author:His Magnificence the Crown, Kabiesi Ebo Afin! Oloja Elejio Oba Olofin Pele Joshua Obasa De Medici Osangangan Broadaylight.
If
you’re involved in real estate, you might have goals you’re looking to
achieve, or next steps you want to take in your career. For those just
graduating, it can be hard to know the best place to start. During my 25
years in the industry, I’ve learned how to build habits that can lead
to success. It involves a combination of leadership, teamwork, and time
management, along with a desire to constantly learn and be creative.
Follow these strategies to build a career you’re passionate about in real estate:
1. Lean into Mentors
When
you’re just starting out in real estate, it’s often more important to
work with the right people who can help you learn. Even if the
compensation is lower in the beginning, you’ll gain insight that you can
apply to uplevel your career over time. This often includes finding
great mentors who are open to sharing their strategies and showing you
how they work from day to day. I still keep in close contact with the
first mentors I had early in my career, Bob Knakal and Paul Massey.
2. Look for In-Person Interaction
While
remote working is commonly accepted, I still think there’s no
substitute for face-to-face communication. During my early years in real
estate, we operated on an open floor plan. This gave me the chance to
see how the experienced members of the team operated. Today, I still
carry that theme and have my team collaborate with in-person
interaction.
3. Cultivate the Right Team
While
accolades can help build credibility, behind every success is a great
team. That’s been the case since the beginning of my career, and I
continue to focus on collaboration today. I like to find a team that is
complimentary and can elevate one another.
If
you lead by example, you can set the tone for the entire team. They’ll
watch how you navigate challenging situations and will follow as you
look for solutions. You can learn more about leading a team in a
conversation I had with MaryAnne Gilmartin, founder of MAG Partners, on
the podcast “The Insider’s Edge to Real Estate Investing.”
4. Be an Eternal Optimist
Your
mindset and outlook on life is so important if you want to be
successful. In nearly every aspect of real estate, there can be risks
and disappointment. You can spend a lot of time and effort on a deal,
sale, and if it doesn’t work out, it may seem like a loss. I always work
to keep a positive attitude, as it can take many “no’s” to get to a
“yes.”
5. Make the Most of Your Time
I
get up before 5 a.m. every morning to work out, and continually look
for ways to maximize each minute of the day. I learned early on that
time is your most valuable asset, and to be successful you’ll want to
manage it effectively. If you’re not sure how you spend your hours, try
carrying a stopwatch and marking out what you do, and when, during the
day. It will help you find areas where you could become more efficient,
or tasks that could be outsourced so you can focus on the work that’s
most valuable.
6. Take the Leap to the Next Level
If
you’re working for an institution and want to branch out on your own, I
always suggest looking at the change as an investment. For instance, if
you’re at a big developer and want to start your own fund, it can be
unnerving to think about moving away from a predictable income stream.
You might be able to accumulate enough savings to cover your initial
months of expenses while you work on your own. Or you could set up early
investors who are ready to support your fund. Ultimately, it takes a
leap of faith to go on your own, though if you view it as an investment
in yourself, it can be easier to create a long-term return.
7. Be a Lifelong Learner
I
didn’t even know about real estate when I graduated from Colgate with a
degree in English. I applied for a position at Massey Knakal and they
gave me a job (I was actually their second pick—which I cover in the
Introduction of the book “The Insider’s Edge to Real Estate Investing.”).
I spent the first months learning about the industry and becoming an
expert in a particular neighborhood. I still look for ways to keep
learning every day. Whether it’s about how to build a team, leverage
technology, or a new project that is developing, there are ways to
continually increase your knowledge, and that can give you an Insider’s
Edge.
8. Be Ready to be Creative
One
of the parts I love most about real estate is working with the
different players involved in a deal, ranging from investors to
nonprofits, family offices, and small business owners. There are often
complexities that need to be negotiated to make the transaction happen,
and I enjoy looking for ways to find a solution. When the deal goes
through, it can be an all-around win for everyone involved.
Gaining
success in real estate can be a journey that involves time, dedication,
and the right attitude. By leaning into mentorship, looking for
in-person interactions, and cultivating a strong, supportive team, you
can set a solid foundation. Managing your time and being willing to take
calculated risks can help you uplevel your game. If you continue to
learn, you’ll also have the chance to keep growing, and ultimately have a
rewarding and successful career in real estate.
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