This 2023 NextGen Session features a panel of Wisconsin brokers: Marnie Noel (Noel Real Estate Advisors); Jenna Maguire (Colliers); Tom Treder, CCIM (Founders 3), and Brian Parrish, SIOR (PARADIGM). The panel was moderated by Mike Testa (Ogden). The session was the second of nine classroom discussions with leaders from various sectors across the commercial real estate spectrum. Founders 3 Real Estate is the Presenting Sponsor for the 2023 NextGen class.
Thank you to EUA for hosting this session on their 6th-floor terrace.
Check out our Class of 2023 – HERE
Here are several takeaways:
- Each day is completely different and unpredictable, plan accordingly
- Know who is in the market – what companies are active, moving, etc
- Show your value and be a resource to your clients and colleagues
- Do as much networking as you can (CARW is awesome for this)
- Build credibility early on by being a resource, following up with people, etc.
- Find a senior broker and lean on their experience if they are willing to share
- It’s never too early to start investing – even in your own projects: Find a trusted partner and be willing to take the risk
- Take as many meetings as you can – you never know when a connection will need you in the future, or you will need them
- Use your schedule to your advantage – whether it’s seeing your kids in the morning or taking advantage of networking at night – Brokerage is flexible and unpredictable
- Utilize social media – especially LinkedIn
- Find a good mentor
- Have your own marketing plan to chart your success – even if you’re at a great brokerage house, the success will still be about how you market yourself
- Get comfortable with Cold Calling and do a lot of it early on. It gets more difficult to do as your deal flow picks up.
- The harder you work – the better the pay-off
- Always have your elevator pitch ready (especially for a given asset class) – to answer the question: “how’s commercial real estate doing?”
- Don’t overcommit – find one thing and be really good at it
- Have thick skin; Learn to let things go
- Tough times like the ones we may be entering, make brokers stronger because they have to be resourceful and creative – there may be fewer deals being shared, more off-market deals and some lowering of fees
Learn more about the NextGen program – HERE