How I Landed my First Job in CRE: Unlocking the Power of Networking and Determination – Episode 2
As recruiting in the industry becomes increasingly competitive, we wanted to help those of our readers aiming to land their first job in commercial real estate. In this new series, we’ll interview recent college students who landed their first job in the current CRE job market. While securing your first commercial real estate job can be difficult, we hope that by listening to these undergraduate and graduate real estate students who have been successful you can develop your own winning strategy to accomplish your goal.
In this second episode, Tucker speaks with Nicolle Lee. “The reason I wanted to come on this podcast was to share some of the ways that I’ve been able to successfully break into commercial real estate,” said Nicolle. With a background that reflects her journey from an introverted undergraduate at Columbia University to a real estate consultant with a top firm, Nicolle’s story is an inspiring example of how one can navigate the complex landscape of the industry.
Watch the Interview with Nicolle Lee
Networking: The Game Changer for Landing that CRE Job
Nicolle’s strategy? Network, network, network. Cold calls, emails that don’t sound like robots wrote them, dropping a casual message on LinkedIn – that’s the playbook. Imagine sliding into someone’s DMs with a “Your career rocks! Mind if we chat for 15?” Invites started flooding in. These invites? They’re like the golden tickets to a CRE job. Networking – it’s like making friends, but with a career twist.
Leveraging Education and Seizing Opportunities
Here’s Nicolle’s curveball move: she weaponized her education. Having graduated from both Columbia and Wharton, she cracked the code on tapping into the alumni networks. And it doesn’t have to be complicated. Reaching out to alums is like diving into a treasure trove of wisdom and insider hacks.
In addition, Nicolle took on as many case competitions as she could, mingled at CRE meetups, and owned the scene at real estate happy hours. Also getting involved with the community through CRE boards is a great way to make new opportunities.
Mastering the Technical Skills
Now, let’s talk tech. Nicolle gives advice on the skills you need to have in your arsenal. Developing and maintaining complex financial models, being able to perform financial analysis, and evaluating investments through Excel are a baseline for a lot of CRE jobs. While you’ll sharpen these skills on the job, having a basic grasp before you dive in is a good way to get your foot in the door. The Accelerator is a great way to accomplish that exact goal.
Networking Also Builds Interviewing Skills
In order to get to that interview step, you must constantly put yourself out there by networking. Networking also will help you develop better communication skills, increasing your ability to interview well. If an employer is not emailing back, following up and saying, “I’m still interested in this job” and being front-footed about what you really want can help.
Know What You Want
Being as specific and prescriptive as you possibly can be is extremely important. It says you have a vision and you’re not afraid to verbalize what your goals are coming out of a program.
Conclusion
Nicolle Lee’s journey is a great roadmap to conquering the CRE job market. From introvert to networking sensation, she proves that anyone can successfully break into commercial real estate. It’s about hustling, seizing opportunities, and having a blast. Remember to stay open-minded and have fun.
In the end, our goal at Adventures in CRE is to give you the needed materials to secure the job you want successfully. Whether that is real estate financial modeling training, career advice, a list of 2,000+ real estate companies, access to the companies we work with, or insider tips from people like Nicolle Lee, we do our best to offer it all.
Frequently Asked Questions about Breaking into Commercial Real Estate (CRE) – Lessons from Nicolle Lee
Why is networking critical for breaking into CRE?
According to Nicolle Lee, “Network, network, network.” She used cold calls, personalized emails, and LinkedIn messages to initiate conversations. These networking efforts led to invitations and job opportunities: “These invites? They’re like the golden tickets to a CRE job.”
How did Nicolle leverage her education to access opportunities?
Nicolle “weaponized her education” by tapping into alumni networks from Columbia and Wharton. She also actively participated in case competitions, CRE meetups, and happy hours to expand her exposure and build connections.
What technical skills should you develop for a CRE job?
Nicolle emphasized the importance of “developing and maintaining complex financial models,” along with performing financial analysis and evaluating investments in Excel. She noted these are “a baseline for a lot of CRE jobs” and recommended The Accelerator as a way to build these skills.
How does networking improve your interview skills?
Nicolle explained that networking not only opens doors but also enhances communication skills. It helps you “develop better communication skills, increasing your ability to interview well” and encourages you to follow up and be persistent if you don’t hear back.
Why is having a clear goal important when entering CRE?
Being specific about what you want is essential. Nicolle said it’s important to “be as specific and prescriptive as you possibly can be,” which shows employers that you have a vision and are serious about your goals.
What role do extracurricular activities play in job placement?
Nicolle participated in case competitions, CRE meetups, happy hours, and community boards. These activities helped her gain experience, meet professionals, and uncover job opportunities. It’s about “seizing opportunities and having a blast.”
What’s the main takeaway from Nicolle Lee’s journey?
Nicolle’s path from introvert to successful real estate consultant demonstrates that with hustle, networking, and determination, “anyone can successfully break into commercial real estate.” Her advice underscores the power of being proactive and having fun in the process.
