I moved to a house with an acre and a half. The weeds are on another level. I spent 6 hours in my yard and didn't even make a dent.
I'm slightly concerned
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Ty Cross retweeted
Surround yourself with people who think bigger than you. More ambitious than you.
Same job. Same hours. Different orbit.
One of the most impactful books I've ever read was called, "Success is Not an Accident".
I read this in 2011 before I was getting into commercial real estate and one of the exercises is to write out a 7 year vision.
But not just what you want to happen. Write it as though it has already happened. Describe your day, what do you do when you wake up, where are you? What do you see? Waht do you smell? Who are you with?
This is a very powerful exercise that can have a dramatic impact if you do it right and take it seriously.
When I go back and look at it, it's wild how much of came true for me. And things that were very specific.
Has anyone else read this book?
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The fastest way to a deal when you start in commercial real estate brokerage is to
- join a firm that has a lot of deal flow and brokers are actively on the phones
- find a 1031 buyer who has to purchase and is motivated
- go above and beyond for that buyer, showing them every deal on and off market
- organize it in a spreadsheet, get feedback and stay in front of your buyer
If you can do that effectively, you will have a deal in contract with someone who is motivated to close very quickly.
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Being a commercial real estate broker is one of the most rewarding jobs on the planet.
You get to create your own schedule, have limitless income potential, and work with great people.
But...
You better have good self-discipline, be ok with not getting paid for months at a time, and get used to having difficult conversations.
The things that we have to work the hardest for can often be the best things at the end of the day.
I was talking with another broker last week who was concerned because he had called through his call list and felt like he needed to switch up his opening statement. He felt like he had used it too much.
I asked him if he had reached every contact and he replied no, of course.
I recommended he should go back and sort his last weeks calls by reached and unreached. Put them in separate calling buckets and use a different opening statement for the ones he spoke with last week.
Even better, send a follow up email to those he spoke with and included some piece of valuable content (article, info on off market deal etc.).
It's easy to get tunnel vision but we have to continually think strategcially as we look for opportunities and ways to connect with owners.
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Here's the best way to plan your cold calls for the week as a commercial real estate broker:
Step 1 - Each Friday afternoon or weekend, pick 50-100 contacts from your CRM that you have not met with for the next week.
Step 2 - Review each contact and put them into call buckets based on the following:
Step 3 - Pick 5-10 investors that own around the properties for each of these categories:
- Your current proposal(s)
- Your current listing(s)
- Other brokers listing(s) (could be in your office or another office)
- Your primary interest generator
- Any investors on your "suspect list"
- Investors you have tagged "not verified" meaning you have't spoken with
- Any other investors you are wanting to meet with
In short, you can use your inventory, other agents' inventory, your proposals, or other things to meet investors in the marketplace. It is helpful to have these buckets to use so you can break up your calling campaign.
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The fastest way to a deal when you start in commercial real estate brokerage is to
- join a firm that has a lot of deal flow and brokers are actively on the phones
- find a 1031 buyer who has to purchase and is motivated
- go above and beyond for that buyer, showing them every deal on and off market
- organize it in a spreadsheet, get feedback and stay in front of your buyer
If you can do that effectively, you will have a deal in contract with someone who is motivated to close very quickly.
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"Do you know what a P&L is?"
The founder of a multifamily investment company was sitting across the table and had just asked me this question in an interview.
I was trying to break into commercial real estate and desperatley wanted the job.
In that moment, I realized I had a lot to learn. Maybe I wasn't qualified after all.
"I do not."
Even though I did not get that job, it only added fuel to the fire and eventually I landed a job with a commercial real estate firm in downtown SF doing property management.
I was taking shots back then, way out of my league, but with the conviction that I had what it took and knew where I wanted to go.
Commercial real state changed my life and it can for you too. But you have to know where you're going and believe in that no matter what.
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If you have thought about quitting in commercial real estate this year, you are likely not alone. It continues to be a hard year for many of us. But keep going, there is light at the end of the tunnel. Continue to focus on the fundamentals, and look for ways to incrementally get a little bit better each day. Whether it is time management, cold calling, overcoming objections, improving your process whatever.
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I was talking to my son last night about the difference between Bravery and Courage.
Bravery is when you show no fear in the face of danger or adversity. It is immediate and without thought.
Courage is doing something despite the fear that is being felt. It is more thoughtful and purposeful.
Both are honorable, but courage demands facing your fears and moving past them anyway.
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I started primal path last night with my son. It's a modern-day rite of passage for discipling our sons into manhood.
Western culture does not prioritize this.
It's time to take change that.
We need men to step up and lead more than ever in society and it starts with investing back into our young boys.
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I admit, I have major shiny object syndrome.
I scroll on X.com and see how many people are doing different things or claiming to make money online in so many different avenues.
It's easy to get distracted and want to move to the next best thing.
The most powerful thing anyone can do is focus on something - day after day for years. It starts to compound and add up over time.
The prescription is to stop consuming and start creating. And don't stop.
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I have been struggling with the precise direction to move my career and what the next season looks like for me. It feels like an inflection point in life.
I realized yesterday as I was praying that I sense God telling me I'm not done with commercial real estate brokerage yet. In fact, I feel like it's just the beginning.
I also felt him telling me that he wants me to dream bigger and help more people along the way.
I can feel the renewal of my spirit taking shape..
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I'm halfway through the new book SEQUENCE" by @Allenbuchanan and I'm blown away at how great of a read it is. It's packed with stories and lessons from Allen's 40+ commercial real estate career.
40+ years a as a broker is wild to me!
Thanks for sharing your wisdom in this book, Allen. I have no doubt it will make me a better commercial real estate professional.
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Why are we still using paper resumes? What a waste of time. Everyone should be using a one minute video resume. You could learn a lot more by watching that video than reading a piece of paper.
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I'm trying to hire someone to help me with administrative tasks and I placed an ad on indeed.
I asked all candidates to upload a 1 minute video explaning why they would be a good fit for the job as the first step.
It's crazy to me how many people don't do it, or don't want to.
If you are looking for a job, why would you not put all your effort into it?? Crazy
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