Friday, February 14, 2014

Five reasons I LOVE #CRE

Today is Valentine's Day.

Valentine's Day is a day for lovers. A day for fourth graders to exchange sappy cards and little heart shaped candies. A day for you to pay inflated prices for a dozen roses...at 5:00 PM on your way home (I surprised Mrs. Buchanan yesterday). A day to reflect on our love for the commercial real estate industry.

In recognition of Valentine's Day and my chosen vocation, this post will hightlight the five reasons that I LOVE commercial real estate!

As a disclaimer, I provide Location Advice to owners and occupants of industrial buildings in Southern California...AKA, I sell and lease commercial real estate for a living and have since 1984.

The freedom to discover your business worth: When I left corporate America in 1984, after five years with Procter and Gamble and E and J Gallo (including leaving my company car, expense account, and paid benefits for a commission only "volunteer" job), I had no idea what I was worth in the business world. I had been told that my business worth was limited and that the "company" created my business worth. As I started "peddling my CRE wares", an insecurity crept into my gut as I realized that my former employers were right! I was worthless!...in a business sense. As I've told many a #CRE recruit and newbie, you will never understand your "true" worth until you are paid strictly commissions. Quickly I learned the tools that lead to a 30 year (and counting) CRE career. I now have a complete understanding of my business worth.

The people: Commercial brokers work hard, play hard and are in most senses "cowboys" or in the least, mavericks! What a refreshing group of folks, however. As my network has now expanded via social media to CRE brokers around the globe, we are universally a rare breed! I also so enjoy the owners and occupants of commercial real estate that I encounter every day.

The income potential: In corporate America (at least at the lowly levels I attained), your income is determined by factors outside your control...boards, supervisors, district or area sales quotas, product offerings, company politics, etc. If you fail to make the amount of money you desire in commercial real estate, you have only yourself to blame. I have realized over the years that our compensation far outstrips our contribution...until you factor in the risk we take...that we won't get paid.

The entrepreneurial spirit...wow, that's a mouth full!: One of the coolest aspects of my job is the entrepreneurs that I meet and represent. I'm always amazed by the ways in which people make a living. I am energized by that spirit everyday!

The ability to help people: I love the fact that we assist owners and occupants in achieving their dreams! I sold a building to a company some years ago. The owners are now in their late seventies. They shared with me some succession ideas (with the operating company) and told me that the real estate I sold them was worth five times the value of their operating company. If that is not worthy, I give up!

Love you some CRE today!