YEAR OF VALUE: “TOP 3 BAD HABITS of COMMERCIAL REAL ESTATE BROKER’S”
In my first year as a real estate broker I have been blown away by the amount of unprofessionalism, zero work ethic, and unmotivated brokers saturating the real estate industry. In one year, there is no possible way I could have dealt with every person or learned everything I need to be the #1 broker in the industry, but I have been obsessively studying not just the industry details but more importantly the people behind it. This was not just to learn and understand but it has allowed me to be a practitioner of the value I discuss in order to build grow my business centered around how I can make the weaknesses of the real estate industry 10 times better. I was attracted to this industry for three reasons:
1. As I was looking for deals to invest in myself, I was blown away by the amount of money brokers were making who provide little to absolutely zero value to any potential customer (aka me on the properties I pursued). I saw this gap of business opportunity and said to myself, “If I could provide 10 times the amount of value to clients investing in this space that these guys did, I could dominate.”
2. I saw how the lessoned learned from the real estate industry could transfer to all other forms business I was actively pursuing. AND…
3. Helping people. Simply put, if you aren’t centered around doing this in business you do then I don’t know why you do what you do.
Now, let me be completely honest about one thing, IN NO WAY DO I CLAIM TO BE THE BEST IN THIS SPACE AND I HAVE YEARS OF EXPERIENCE TO BE HAD IN ORDER TO BECOME A MASTER, but I have been on the ground studying, analyzing and taking detailed notes, to be able to launch what I am calling my “Year of Value”, propelling me into the next stage of my real estate career. In this Year of Value, I am dedicating my time to educating all those interested in the value commercial real estate market. My goal is that through this dedication I am able to help you or anyone else decipher if this space of investments is the right move in your arsenal to be able to achieve all of out life that you desire. SO…to start I want to start by describing the TOP 3 BAD COMMERCIAL REAL ESTATE BROKER HABITS.
TOP 3 BAD Commercial Real Estate Broker Habits:
1. Focus Only on Current Local Real Estate Market
Pro’s: Good “off the dome” knowledge.
Cons: Don’t understand outside market factors and are unable to predict “unexpected” events. They are not educated on other markets and are unable to predict future economic cycles.
2. ZERO Passion
Pros: Mainly caters to the old school investor
Cons: ABSOLUTELY ZERO reasons for why I would ever want to source out business with this contact ever again (no matter how good the deal is). If the broker lacks any passion towards life…RUN. Good vibes=good deals. DONE.
3. ZERO Goals Besides Closing the Current Deal
Pros: Cool, he/she helped you close a sale
Cons: ZERO creativity to innovate cities. AND…This is when they turn into what I call the “pushy” annoying broker kicks in. This is all they know how or what to do. How can they ever help you get creative in seeing the deal in a magnitude of different ways? How can they see the BIG picture if they dont even want the BIG PICTURE themselves?
This article is not intended to be a rant, nor to discourage you to pursue commercial real estate investing. Instead, the purpose of the article is meant to educate and bring awareness to what is currently giving this industry a bad image; one similar to the used car salesman. Commercial real estate investing can be one of the best possible investments you could ever make and I encourage you to read the follow-up article titled, “TOP 3 NEEEEEDS FROM YOUR COMMERCIAL BROKER” to begin keeping an eye out for those who could help support your needs.
I appreciate you taking the time to read this article and I hope to have provided some sort of value for you today. I will be writing in this space regularly and I hope you see this as a beneficial reference point for your journey. To continue receiving value of the real estate industry in my other channels, please follow me on: Instagram @jacobmorganbiz ; Twitter: @jacobmorganbiz ; Snapchat: @jacobmorganbiz and soon to be updated website www.jacobmorgan.com
***When you see spelling errors, grammatically incorrect sentences and elementary vocabulary, feel free to laugh and smile- heck even say out loud “ what an idiot”. Stop taking life so seriously and give some love to someone with an end goal of simply helping you out. As I continue writing I am sure the content and flow of these articles can only get better. Stay tuned…