We’ve all heard it, a CRE profession has got it all - success, money, and freedom. From an outside perspective, commercial real estate may seem like the perfect job. However, there are aspects of the industry that aren’t as glamorous, and as a result, are less talked about. CRE is a highly competitive industry that requires time, effort, and an endless drive towards success.
If you think you want to pursue a job in commercial real estate, there are some important considerations you need to make first. Here are 4 questions to ask yourself to find out if CRE is the right field for you.
Am I Prepared for the Initial Stages?
Anything that’s worth it probably won’t be easy. That’s especially true when it comes to CRE, an industry that requires a fair amount of due diligence in order to get started. Prospective agents and brokers need to dedicate time and energy to study the market, learn about the field, and prepare for the real estate licensure exam. This means investing money and effort to get educated on advanced topics and complex situations.
On top of that, there’s no guarantee that success lies right around the corner. It may take months or years to solidly get established in the industry and begin living the CRE dream.
On the bright side, the dedication will eventually pay off and blossom into a fulfilling and prosperous career. It simply takes will and persistence to break into the industry.
Can I Handle the Responsibility?
A job as a commercial real estate agent is nothing to take lightly. Keep in mind that you’ll be responsible for handling someone’s largest investment. Property sales are highly expensive transactions, and many deals are upwards of $1 million dollars.
Agents and brokers act as trusted consultants who are looked at for advice, guidance, and support. Each and every deal needs to be handled with immense care and attention.
Does the Demanding Workload Fit Into My Life?
As in any real estate profession, every case comes with a heavy workload. There are mass amounts of paperwork, lengthy negotiations, and lots of studying to do for each client. Agents constantly need to be on their A-Game since even a little mistake can spark major legal issues or monetary loss. It’s important to ask yourself if this is the kind of job that you’d like to pursue.
Do I Want to Work Closely With Others?
Real estate is an incredibly social job. To a large degree, success in this industry lies in the ability to network and connect with others in the field. Public speaking is very important and positive relationships breed tons of success. An agent needs to work closely with others and be active in the local market to build a strong career and reputation.
At the end of the day, it’s important to discern whether a career as a CRE professional is the right path for you. Like anything else, it takes time and energy, but there’s a silver lining of success awaiting anyone willing to go through it. For a deeper look at the industry, check out our blog.