Starting a career in commercial real estate (CRE) can be fun and rewarding, but the best way to do so is to make sure you are prepared and ready before you begin. There is a learning curve to CRE, and when people get started without a commission management platform and someone to correctly handle their accounting needs they often end up struggling to make things work. Fortunately, there are tips that can be followed to make your budding CRE career more likely to be successful. Here are some important issues to consider before moving forward:
You Need a List of Who You Know
One of the most significant considerations when you start your CRE career is who you know. Make a list of the CRE professionals you already have access to or knowledge of. Talk to all of your friends and family members, too, and ask them who they know in the field. By doing that you have a much better chance of getting a good list of contacts you can work with. The more you know the better, because even though it sounds cliché, knowledge really is power. Don’t be afraid to reach out to people and learn about CRE from them, if they are willing to share information with you.
Don’t Ignore Your Commission Structure
Whether you’re doing things all by yourself, hiring people to work for you, or trying to get a job working for someone else, the commission plan matters. You need to make money, and so does everyone else in the equation. That’s important to keep in mind, since there are times when a deal sounds great except for the financial constraints of it. Don’t end up regretting a job you take or a person you hire for your CRE development based on how the math works out. Get paid fairly, and pay others fairly, and you will be happier in the long run. You may also see more success that way.
Get the Details and Start Reaching Out
No matter who you know, you cannot get far without reaching out to others and taking some chances. Ask questions, get answers, and don’t be afraid to be persistent. You can be aggressive without being annoying, and you can get things done without stepping on people or harming your reputation. The more you stay focused and dedicated, the more people will understand that you are serious about what you’re doing. That can go a long way toward helping you achieve your CRE goals, especially when you’re just getting started.
With a commission platform like Commissiontrac, you have the opportunity to move toward a more solid foundation in the CRE business. It’s one of the best ways to ensure that payments are fair and that everyone you work with is being treated right and considered correctly. You don’t have to worry about accounting issues when you have the right commission management platform, so that aspect of your business can fall into place more easily.