CRE Pros: Which Goggles Do You Wear?
We had such a great response from The Source readers the other day, I had to go back to the well at least one more time.
Here at The Source, the entire length and breadth of commercial real estate practice is our beat. Which is great in one way and a problem in another way.
It’s great because it means we have a lot of freedom to cover a huge industry from nearly any angle.
And it’s a problem because we’re not writing this for us, we’re writing it for you. I want us to know more about what it is you guys and gals are looking for, how you see this industry and your roles in it. That way, we can keep you coming back.
So here’s the question: What’s your focus in CRE? To put it another way, which “goggles” do you wear?
Before you come back with “sales transactions” or “property management” etc. as your answer, consider the following idea. I’ve found that CRE pros bring skills to the table that come from four general areas. I’d like to know how you’d order your own skillset. In other words, when you approach a transaction, what part of it is your passion? What’s the angle you take? What’s the first thing you’re thinking about?
The four areas are:
Accounting – Financial analysis is in your blood. There’s a CPA cert on your wall (or in your future), there’s pivot tables in your dreams, and you can’t be hoodwinked by anybody’s pro forma, or the tax man.
Law – Contracts are what you live for. You never found a paragraph of fine print you couldn’t improve for yourself or for your client. Where others see a lease, you see several possible futures.
Finance – Well over half of the work on every transaction is taken up with where the money’s going to come from. You not only know where it comes from, you know where it’s been, where it goes, why, when, and how.
Deal Structure – Here, it’s people and how they interrelate and operate. You think: It’s one thing to know the difference between a fee simple estate and a leasehold. But it’s something else to build a partnership or structure a joint venture to balance monetary commitments or tax benefits.
- CRE Has Always Been About Social and Connectivity (coydavidson.wordpress.com)