Broker Tips: Set Yourself up for Success

Here at NAI Global, our success is underpinned by the cumulative knowledge embedded in our network of 185 brokerage firms around the globe. Over the years we’ve been privileged to learn from some of the top minds in commercial real estate (CRE), with decades of experience under their belts.

The ‘broker tips’ series is a way for us to spread that knowledge, and wisdom, to a wider audience. For this edition, we’re looking at some top tips for new brokers.

Network and learn

Ann Bailey of NAI Emory Hill says one of the most important things any broker can do is take the time to really learn the market. She adds that the ability to network, and personal resilience, are two more valuable skills that every aspirant broker should cultivate.

Jeff Allman of NAI Southcoast adds in the importance of learning on the job, as well as mentorship, saying: “Find a senior broker that is busy and needs support. Find ways to add value to their process while learning as much as possible.”

Keep a sharp eye on trends

For both, another key theme is keeping an eye on the latest, as well as ongoing, CRE trends. In the current environment, the examples that spring to mind are rising interest rates and the sector-specific changes brought about by the last few years.

Ann states: “The working from home trend is something I’m watching closely. That and the slow down in sales and leasing volume on the back of rising interest rates.”

Communicate and build strong relationships

Both Ann and Jeff emphasize the importance of clear communication. Jeff notes: “Communicating well, but also active listening, are two of the skills that will stand you in good stead.” He also stresses the need for emotional intelligence in interpersonal interactions.

Ann adds that it’s necessary to be a team player. That includes working to your strengths and supporting your team. She says: “Not everyone brings everything to the table.”

Certainly, some food for thought from these two savvy brokers!

For our part here at NAI Global, we’d urge readers to also keep in mind the importance of diversity and equity in building strong relationships, strong teams, and a more inclusive CRE environment.

On that note, be sure to check back soon for more sound advice from our savvy CRE experts in the next ‘broker tips.’ Or in the meantime, have a look at some of our past editions here and here.