By: Harrison Gault
Embarking on an internship at a boutique Commercial Real Estate Firm such as Commercial Partners Realty has been a transformative experience that changed my understanding of this complex industry. I did not have a huge understanding of this industry before starting the internship and my perception of CRE has evolved, as there are layers that make it an exciting and rewarding field.
Before my internship at Commercial Partners Realty, I believed a career in CRE solely focused on sales and closing deals. While negotiation and deal-making hold significance in the job, the industry involves diverse roles that demand distinct skill sets. These roles include market research, property management, leasing, investment sales and relationship management.
I believed that in order to be a successful broker, you need a strong background and degree in real estate. Many successful professionals in CRE come from diverse educational backgrounds such as finance, economics, business administration or even literature. What matters most is a combination of skills, including analytical abilities, negotiation skills, market understanding, and relationship-building capabilities.
One aspect that enticed me to pursue a career in Commercial Real Estate is that it’s different from a traditional 9 to 5 desk job with limited flexibility. CRE professionals fill their days with site visits, client meetings, networking events, and property inspections. I validated this by being the only person in the office at times, while agents were at various events. The nature of this field may involve irregular working hours in order to accommodate client needs and deal timelines.
One of the goals I had in mind before starting this internship is finding out what a career in CRE entails as a fresh graduate. I asked the professionals: “How did you get involved in the CRE industry?”. They all seem to come up with similar answers. The first goal is to gain knowledge and education through various means. This can be done by attending workshops and seminars or networking with professionals in the field. Next step is to find your niche by specializing in a particular property type and location, which will differentiate yourself in the market. This is the most important aspect to your career in CRE and that is to build a network of experienced professionals that will allow for a mutually beneficial relationship. Finding a mentor is paramount as they can provide valuable guidance, wisdom, and support based on their own experiences.
My internship at Commercial Partners Realty has been eye opening, transforming my perception of the industry. I moved past my existing notions to uncover the complexity, diversity, and possibilities that live in the industry. I witnessed the power of research, the significance of relationships and the need for adaptability. Now, I can approach a career in CRE with a more informed and realistic perspective.
