If you are new to the CRE industry, do every task assigned immediately.
Your speed will be remembered even if your expertise is lacking.
You’ll make plenty of mistakes but you’ll learn faster than the perfectionist.
Met a CRE broker out West who handed me a business card that included 20 cities he “specialized in”.
Atlanta was on the list.
I mention I’m from ATL, he says he’s never been.
So I guess, call me if you want Hong Kong, Sydney, Paris, or Tokyo commercial real estate.
Someone with family money opened a speciality salad spot in Midtown Manhattan. $100k monthly rent and $900k buildout.
They couldn’t make it.
Closed in 6 months, $2M lost.
I blame rich kid ego. A college town would’ve provided years of runway but it had to be NYC.
Some leasing signs are really bad
You don’t have to preface the phone number and website with “phone: 404-483-4455” and “ website: propertyabc.com”
Why do agents spend thousands printing this word vomit? Yall need to focus on editing this crap.
Brokers Opinion of Value > Appraisal
A great BOV is a roadmap to obtaining market value by an experienced broker.
An appraisal is just an expensive book report by a pencil pusher who called brokers for their data.
One is infinitely more valuable.
Awesome week in Vegas for the ICSC with the Rise team
Optimism was high…deals are happening, tenants are growing, lease rates are climbing and vacancy remains low.
Retail is strong!
Things that don’t exist :
Easter Bunny
Tooth Fairy
Santa Claus
and
Big Shop CRE Brokers that have a special “proprietary platform” providing better tenants and buyers than anyone else.
That special software is just dated comp data and an underused CRM.