Driving Your Real Estate Career Forward

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Driving Your Real Estate Career Forward

• Rick Gillham, President
• Gillham, Golbeck Associates, Inc.
• Julie Brand Lynch, M.S.R.E.
• Managing Partner, Lynous
• SMU Adjunct Faculty/Academic Director

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Driving Your Real Estate Career Forward

• AGENDA
• I. Introductions
• II. Touring the Market
• III. Determining Your Destination
• IV. Mapping Your Job Search
• V. Navigating Your Career Plan
• VI. Questions and Answers

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Touring the Market
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The New Rules of Employment
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Employees Are in the Drivers Seat

• Seventy-one percent of HR Directors believe
  that there is a talent crisis within the real
  estate industry.
• The retention of future stars, key producers,
  emerging and mission-critical leaders and core
  functional employees is the 1 priority of 81
  of U.S. real estate firms.

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Compensation Continues to Spiral Upward
The 2007 National Real Estate Compensation Survey
of CEL Associates reveals the following base
salary range for 75th percentile office and
industrial positions
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Other Facts

• Overall pay increases in 2007 are expected to be
  3.7 (versus 3.6 in 2006).
• Over 75 of firms surveyed have or are planning
  to restructure/revise their compensation plans
  (both annual and long-term) to attract, retain
  and motivate key employees.
• There is an emerging trend to extend long-term
  incentives deeper in the organization.
• The U.S. real estate workforce is getting
  older
• The average age of a broker is now 46.2 years.
• The average age of a property manager is 43.5
  years.

Data of CEL Associates Inc.
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The Talent Crisis Will Continue

• Top concerns of real estate leaders in 2007
  include
• Leadership development
• Recruitment compensation practices
• Succession planning
• Performance management
• Restructuring of healthcare benefits
• CEOs and HR Directors will reach out to like
  or adjacent industries for talent and ideas.
• Locking up next generation emerging stars and
  closely monitoring employee satisfaction levels
  will be a focus of 2007 internal business
  activities.
• Data of CEL Associates Inc.

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Unemployment is Down
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Coming Employment Shortages

• By 2015 there will be 10 million more jobs
  than there will be people to fill them. We
  already have seen more jobs than job seekers.
• Boomer retirement and generational pressures
  are already starting to produce a skilled
  worker gap.

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Trends Succession Void

• Nearly 60 of current CEOs plan to retire by
  2015.
• 30 of real estate firms in 1990 no longer
  exist.
• Only 24 of real estate firms have a succession
  plan.
• 85 of those succession plans are for the CEO
  only.
• 65 of those who have succession plans have not
  announced them.
• 50 of todays brokers are not expected to be
  employed by 2015.

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Trends Sales Are Decreasing
During the past few years, national commercial
property sales have set records. Commerci
al property sales totaled about 264 billion in
2005, a 50 increase from prior levels.
During 2006 sales totaled 310 billion, or
an 11 increase, for office, industrial,
retail and multifamily properties.
However ? Although many high-dollar
properties were sold in 2006, the number of
transactions was down from 2005. ? Also, if
one excludes privatizations, overall investment
sales activity actually slowed from the
previous year. 2007 property sales are
expected to trend downward.
Data from Real Capital Analytics
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Sales Trends Continued
Conclusion Commercial real estate is moving
from a transactions-driven market to one that is
more operations-driven. More developers
and owners will care for existing assets,
instead of selling them.
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Determining Your Destination
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ADVANCING YOUR CAREER - INDIVIDUAL
Am I in the right occupation and career?
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ADVANCING YOUR CAREER - INDIVIDUAL
What do I want to do next? What can I be happy
and successful doing? Where am I going to be 10
or 15 years from now?
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ADVANCING YOUR CAREER - INDIVIDUAL
Personal Assessment
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ADVANCING YOUR CAREER - INDIVIDUAL
Look at the big picture
V Values I Interests P
Personality S Skills/Strengths
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ADVANCING YOUR CAREER - INDIVIDUAL
Who am I?

• Interests
• Values and Morals
• Strengths and Weaknesses

• Economic Requirements
• Work Environment Preferences
• Improvement Opportunities
• How Do I Play with Others?

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ADVANCING YOUR CAREER - INDIVIDUAL
What different opportunities are there?
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ADVANCING YOUR CAREER - INDIVIDUAL
What is the short- and long-term outlook for the
labor market?
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ADVANCING YOUR CAREER - INDIVIDUAL
Specific Occupations Under the Real Estate
Umbrella
CFO
Dispositions
Developer
CIO
Architect
Property Manager
Human Resources
SEC Reporting
Facilities Manager
Financial Analyst
Construction Supervisor
Acquisitions
Tenant Representation
COO
Estimating
Marketing
Accounting
Broker
CEO
Business Development
Portfolio Manager
Site Selection
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Mapping Your Job Search
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Best Jobs in America
According to Money Magazine the position of
Property Manager ranks number 3 out of the top 20
jobs for the Young and Restless (Ambitious).
Median pay is 81,400. 90 in this job
make more than 54,300. The top 10 in
this job make more than 114,900. 10-year
job growth is projected to be 15, or 55,259
new jobs. Requires a bachelors degree
and at least 5 years of experience. A
wide degree of creativity and latitude is
expected. Typically reports to top
management.
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Best Jobs in America
According to Money Magazine the position of Real
Estate Agent ranks number 17 out of the top 20
jobs for the Young and Restless. Median
pay for a Leasing Agent is 59,300. An
Acquisition Associates median pay is 91,100.
The top 10 of Real Estate Agents make
more than 109,900. 10-year job growth
is projected to be 15, or 51,182 new jobs.
Requires a minimum of an associates degree,
at least 2 years experience and certification
in the field.
Data provided by CEL Associates
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Your Best Job Sources
If you are an executive or professional,
establish a relationship with an executive
search firm that specializes in commercial real
estate placements, such as Gillham, Golbeck
Associates. ? Such firms handle placements
that are not openly on the market. ? As
opportunities arise that fit your interests
and skills, you can be notified. Utilize
personal and industry contacts. Search career
websites, such as RealEstateJobs.com,
iremjobs.org, etc.
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Sources Employers Use
From the employers point of view, the best
sources for finding qualified real estate
personnel include
Talking to colleagues 47 Newspapers 11 Other
associates 10 Internet 6 In-House/Internal
recruitment 4 Employee search firms 4 College
recruiting and other means 18
Based on the 2006 IREM Image Study
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What Employers Value
According to the 2006 IREM Image Study Executive
Summary, important qualifications for hiring and
evaluating real estate personnel include
99 Level of honesty professional
integrity 93 Communication skills 89 Analytic
al skills 88 Reputation 82 Management of
personnel 78 Level of experience 74 Budgeting/
Accounting experience
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What Employers Value
According to a ULI study on careers in real
estate, companies of all sizes and types look for
people who can add value to the organization
by Increasing the companys revenue and
profits Reducing costs Creating more
efficient operations Winning new
business Increasing market share Growing
and learning on the job Aspiring to take on
more responsibility
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Tips for the Opportunity-Minded
? Create a marketable resume and keep it
current. You may need it for unexpected
opportunities--both within your company and
outside of it. (See Sample Resume)
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Tips for the Opportunity-Minded
? When you do interview, focus on your potential
contributions and fit in the organizationnot on
money. (See Interview Guidelines)
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Tips for the Opportunity-Minded
? Dont wait until you are out of a job to
evaluate and upgrade your skills.
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Tips for the Opportunity-Minded
? Complete your formal education. 90 of our
searches for real estate professionals require a
degree many companies want a masters degree.
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Tips for the Opportunity-Minded
? Pursue continuing education and real estate
designations through organizations such as IREM
and CCIM.
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Tips for the Opportunity-Minded
? Learn all you can about real estate
finance. Property managers, brokers and real
estate executives must be more financially savvy
than in the past.
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Tips for the Opportunity-Minded
? Keep up-to-date on industry news that relates
to new regulations affecting the
industry. Watch mergers and acquisitions for new
opportunities.
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Tips for the Opportunity-Minded
? Periodically review job opportunities listed
with the IREM and CCIM Career Resources
Centers. More and more hiring managers are
using internet searches to find their employees.
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Our Advice to You
Remember
Real estate is a marathon, not a
sprint. Balance life (work, play, family,
hobbies, etc.). Follow your dream and your
passion. It is OK to say, No. There are
always two sides to every story and
deal. Build relationships for a
lifetime. There are always opportunities.

Source CEL Associates, Inc.
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Our Advice to You
Remember
It is what is inside the four walls that
matters most. If youre not having funget
out. Without a vision, there is no
direction. Your brand and legacy are
important. Your core values should never
change. A setback is merely an opportunity to
recapture.
Source CEL Associates,
Inc.
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Navigating Your Career Plan
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Advancing Your Career
Employees are an investment.

• A position is created because the company
  needs an internal resource to help support a
  revenue goal.
• Based on the skills, education and experience,
  there is a dollar value or salary associated
  with that resource.

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Advancing Your Career
Employment is not for life.

• 15 years ago
• Less competition for jobs.
• Bigger margins.
• Layoffs possible.
• Today
• More competition for jobs.
• Thinner margins which cause internal pressures
  for cost control.
• 1 expense to employer is labor.
• Changes happen more quickly.

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Advancing Your Career
Managing your value is important to your success.

• Value is a perception
• What is valuable to you?
• What is valuable to your employer?
• General perceptions in the workplace
• Women vs. men

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Advancing Your Career
Projecting Your Value

• Nonverbal messages which project value
• Dress professionally.
• Speak directly be concise.
• Manage body language.
• Project confidence.
• Understand your value to an organization.
• Avoid internal gossip and politics.
• Do good work.
• Exceed expectations.

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Advancing Your Career
Projecting Your Value

• Always be the best you can be.
• Be on time or early to work.
• Be on time to meetings.
• Meet or exceed your deadlines.
• Take ownership of your responsibilities.
• Make sure your work is accurate.
• Have a good attitude be positive.
• Do good work.
• Make yourself indispensable.

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Advancing Your Career
Ways to establish your value.
? Add value to the bottom line of the
organization. ? Become indispensable to your
team. ? Offer fresh ideas and solutions.
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Advancing Your Career
Increasing your value
? Continue to invest in yourself. Pursue
education, credentials and designations. If
a company is offering tuition reimbursement or
training, TAKE IT. During your annual
review, ask how the company is planning to
develop your skills and career. ? Develop a
career plan. Prior planning prevents poor
performance. ? Make mentoring a part of your
plan.
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Set the Pace. Lead the Field.

• Questions Every Real Estate Professional Should
  Ask
• What have I done today that has brought my
  company closer to its customers?
• What have I done today that has enabled my
  company to get ahead of its competitors?
• What have I done today that has brought my
  company closer to its vision and goals?
• What have I eliminated, reduced or modified
  today that has or will improve asset and/or
  operating performance?
• What have I not accomplished today that I
  need to complete?
• What have I done to build the reputation of
  my company to its customers, competitors,
  industry sector, investors, shareholders and
  community?

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Set the Pace. Lead the Field.

• Questions Every Real Estate Professional Should
  Ask
• How have I improved my performance, my
  expertise and my skills today?
• What have I done today that has helped/enabled
  others in the company to do their jobs?
• Have I been true to the key values of the
  company and to my core principles?
• Have I become a better leader and have I taken
  ownership of my actions?
• Am I having fun?

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Training Grounds

• Education
• Blended Learning A combination of
  self-learning and learning in groups.
• Books Reading a book on a subject of
  interest.
• Conferences/Seminars Live or virtual
  meetings with specific topics of interest.
• Degree Programs Pursuit of a degree/diploma
  or academic certificate.
• E-Learning Self-paced classes
  (computer-based or web-based training).
• Formal Training Attending a class in
  real-time with a qualified instructor.
• Research Library or Materials Within Your Own
  Company.
• Professional Journals Articles published in
  magazines on a topic of interest.

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Get Ahead by Doing
Advancing Your Career Within a Company

• Act on behalf of the manager or other team member
  in some meetings or activities.
• Participate in action learning groups to share
  problems and new ideas.
• Get involved in company meetings. Offer ideas
  and comments. Volunteer.
• Benchmark. Gain insight by comparing your
  organizations business processes against those
  of leaders inside and outside of the company.
  Attend seminars and workshops outside of the real
  estate industry.
• Participate in or organize best practice forums,
  particularly if you have served in a similar role
  for another organization.
• Be sure to capture the knowledge of co-workers
  who retire or leave the company.
• Utilize cross-functional teamwork. Offer to get
  involved in an area of interest outside of your
  specific job responsibilities.
• Utilize cross-organizational collaboration.
  Partner with other organizations to share
  expertise, resources and knowledge (such as
  CCIM/IREM).

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Get Ahead by Doing
Advancing Your Career Within a Company

• Take an opportunity to visit a customers site
  and learn from them what is important.
• Sit in and observe a day in the life of some
  other area or function within the company that
  you want to explore.
• Look for opportunities to deliver presentations
  within your team, communities of practice and
  other similar venues. Represent your company in
  public forums.
• Go on loan to another organization for a period
  of time, perhaps 2-3 weeks.
• Think with the end in mind to improve or develop
  a specific process. Offer to review or document
  the process with the ideal state in mind.
• Lead a taskforce within your company to
  accomplish a specific task, getting agreement on
  objectives and timelines. Break down the work to
  leverage peoples strengths.
• Lead a subcommittee of IREM/CCIM and/or another
  group outside of your company.
• Recommend projects that contribute to your
  companys success and customer satisfaction.
  Lead these projects where possible or support the
  project work of others.

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Role Models
Find a role model.

• Identify someone you admire and try to emulate
  them.
• Meet and talk with this person find out all you
  can about their career.
• Watch how they conduct themselves and learn from
  it.
• Ask this person if they would be willing to be
  your mentor set up specific times to connect and
  have specific topics to discuss.
• Ask for feedback.
• Be a role model.
• Offer to be a mentor to someone. You will learn
  too.
• Provide coaching by helping someone to anticipate
  and overcome problems or simply provide advice
  that might make things go a little smoother.
• Network.
• Join and take advantage of what you can learn
  through professional organizations such as CCIM
  and IREM.

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Crossing the Finish Line
To advance your career, aggressively drive your
professional development and emerge as a winner
by adding value to your company.