CRE Success: The Podcast, S01BE1
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Welcome to CRE Success: The Podcast, where we help people working in commercial real estate achieve their professional goals. Check us out online at cresuccess.co/podcast. And now here's your host, Darren Krakowiak.
Hello, and welcome to this special bonus episode of CRE Success: The Podcast.
Today’s episode is all about passion. When I started this podcast, I noted how I’ve worked in radio in the past, making a podcast about commercial real estate the perfect passion project for me.
I’ve also talked about how the first of the 5 Ps of Commercial Real Estate Success is passion.
A question that I ask readers of the eBook to consider is:
What gives you the clarity of purpose required to do the hard yards? What drives your ambition to succeed?
Now, there is really no right or wrong answer to this question – as long as there is an answer!
Ultimately, if you don’t have passion for what you do, you probably don’t enjoy it in your heart of hearts. And if you really don’t really enjoy what you do, the odds are stacked against your success.
With that in mind, I thought a great topic for this bonus episode would be passion. In episode 6, I asked Sarah Blackmore of Colliers: what do you think is an important attribute that everyone needs to succeed in commercial real estate?
Passion is the big word, being able to really enjoy what you do for the product, as I said before, whether it is shopping center management, commercial management, whether it's working in valuations or leasing or any of the various roles in our industry, if you're not passionate, I really doubt that there's going to be that same level of success there.
Coincidentally, in episode 5, when I asked James Woodburn from WPP if there are there any common traits that he thinks are important to be successful in commercial real estate, regardless of the position that they're in, he told me this.
You need to enjoy a mixed…you need to be passionate, hard working at whatever you do. And for me, it was enjoying networking, managing numbers/analysis, negotiating, you've got to be good at it. There's no point doing something that you're not good at, and you need to enjoy it. Generally, if you work hard at it, you'll end up being good at it.
All the way back in episode 1, I asked Luana Kenny of m3property what is her favourite thing about working in commercial real estate.
I'm quite passionate about what I do and I like the wins. I like when you get a new client a lot when you're able to assist a client in achieving the outcomes that they want to achieve. And that actually gives me a real buzz. And I like that I get to work with a variety of peoples and when I say work with a variety of people that's outside of the company, and as I've said before, is that I've built up quite a loyal and established client base. And so you get the intimate details about what they're doing on the property front. And it's a bit of a corny word, but you do watch the journey that they go on. I've been involved in subdivisions right from the start, and I'm still involved in those subdivisions. And it's amazing that when you go back to them to do a new stage or to have a look just how they've developed and that you are a part of that development in some way. And I think that that's my favorite thing is just being a part of it all.
In episode 10, I asked James Tyrrell, who’s live in Seoul for 20 years, what are the specific skills that are required to be a long-term survivor in a country like Korea.
It has to be underlying drive. I think that was what got me to Indonesia and then to Korea, and it's got to be that level of passion for real estate and passion for working with people and working for clients. And even though I'm on the landlord side, I'm still essentially a consultant working for a client, just one large client that we have to perform our duties for. So that whole layer of showing space, selling, selling space, negotiating deals, I've always enjoyed that. So I think that drive and tenacity is key. And I've been able to hold on to that,
And when Paul Tzamalis stepped into the virtual elevator at the start of episode 8 to deliver his elevator pitch, this is what he told me:
I started my career at CBRE in 2012, and just over six years later, went out and started The Auction Company, which is a passion business for me and everyone always says, You should always follow what you love and be the best at it. And that's certainly where I sit at the moment. So happily running The Auction Company, 52 real estate agents that currently utilize us and our service and a very happy man.
So, there you have it – don’t just take it from me. Passion is definitely a key ingredient to being successful in our industry.
If you’d like some help in clarifying your sense of purpose, you can download a free copy of The 5 Ps of Commercial Real Estate Success by visiting cresuccess.co
We will have another special bonus episode, including new content, next week – that episode is going to be all about the importance of prospecting – and then we will be back with another interview on episode 11, which will be released the week after that.
Thanks for listening to our first ever bonus episode, and I will speak to you soon.
Thanks for listening to CRE Success: The Podcast. If you enjoyed this episode, make sure you subscribe to us on your favourite podcast platform and be sure to leave us a five-star review. For more information about the show, just check the show notes on your podcast app or visit us online at cresuccess.co