CPE Executive Council: Unpopular CRE Opinions

Sometimes, you need to go against the crowd. After all, if everyone was jumping off a bridge, would you do it, too? This month, the CPE Executive Council shares their unpopular opinions about commercial real estate that show that just because some ideas are in the mainstream doesn’t mean they’re necessarily the only correct way to approach it.

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Back to Normal

(My unpopular opinion?) That’s easy. Higher rates for longer isn’t a bad thing. It’s time to get back to normal. Abnormal were the artificially low rates since the industry came of of the GFC. There will absolutely be some pain for those who over bought and over leveraged when it’s time to refinance at a much higher rate. Many won’t have the extra equity to put into each and every deal, but there is plenty of dry powder on the sidelines ready and willing to jump in. Five percent is more normal than zero. —John Cigna, Partner, Crown Advisors

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Learn to Hustle

Many CRE professionals confuse activity with actual business development. Just showing up to meetings, networking events and responding to emails doesn’t necessarily mean you’re growing your business. Don’t just chase new business, understand your current relationships and look for opportunities to increase what you have right in front of you. Many CRE professionals put too much emphasis on the deal closing and fail to think about the next opportunities and capitalizing on them. Don’t confuse tenure with hustle—hustle will always win. Hustle can’t be taught and my top performers continue to learn, grow, challenge themselves and adapt to market fluctuations. The market may not always be strong, but a down market can be a great opportunity to separate yourself from your competitors. Don’t just be busy, be intentional. —Kim O’Donnell, EVP of Business Development, Proper Title

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Interested in joining the CPE Executive Council and being featured in future articles? Email Jessica Fiur.