“Mentoring and the Protege…..Getting into a CRE state of mind”

Commercial Real Estate, Real Estate, Uncategorized

“Getting into a CRE state of mind”

Starting a career in real estate creates many expectations and commitments for the agent as

they build best practices for success.

Developing their professional CORE early is a critical part of the education process while

maintaining relevance with their professional development goals.

The Elements of one’s real estate CORE are Competencies, Organization, Resources and

Evaluation and require an understanding on how to focus and maximize each.

When an agent gets into a CRE (Commercial Real Estate) state of mind, the differences

between residential activities and commercial should become evident, different forms,

property types, service professionals, terminologies and evaluation tools to name just a few.

Herein lies the confusion and pitfalls as some try on Commercial assignments without being

In Illinois, a real estate broker doesn’t need a separate license to conduct commercial real

estate transactions and many brokerages are not prepared to clarify or address these crossover

Many residential agents who are looking to ease into the commercial arena find the support for

learning this new discipline difficult without a seasoned Commercial Real Estate Practitioner.

We find that a limited opportunity exists as formal directories of Commercial Real Estate

Practitioners willing to help are in short supply or nonexistent.

This hopefully will lead an agent to explore the term Mentoring and Protégé and what this

professional relationship is all about.

Mentoring requires patience and commitment from the Mentor (Educator) and Protégé

(Student) and is normally a one to one or small group setting.

The Mentor should provide advice and direction while constantly reviewing all expectations.

These programs should be structured and have defined objectives with a schedule which meets

the needs of the Protégé and Mentor.

A formal Mentoring program could take 3-6 months to complete 30 hours of education in  1-2hr sessions.

The learning & support provided to the Protégé should not end with the completion of an

assignment or structured mentoring program as the process needs to remain dynamic, evolving

for both the student and the educator.

The reasons to choose a Mentor:

1. Focuses on Protégé’s abilities and interests

2. Qualifies resources available

3. Transaction support-deal making

4. Recognition by industry expert-Certificate or future Certification

5. Platform for Professional Development-Networking

7. Market Penetration-New Business Development, Co-List, Leads

We as real estate professionals need to move away from using or embracing such terms as

Resimmercial agent which suggests a realtor® agent doing a small percentage of their business

as commercial and instead, focus on enhancing the education process for all those who would

become Commercial Real Estate Practitioner’s.

Paul Martis-Commercial Realtor®/Educator/Mentor

NewcastleCRE@gmail.com

www.NewcastleCRE.com

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