Last updated on Jul 12, 2024

Here's how you can excel in Commercial Real Estate without a finance background.

Entering the field of commercial real estate without a finance background might seem daunting, but it's entirely possible with the right approach and mindset. Commercial real estate (CRE) involves buying, selling, leasing, and managing properties used for business purposes, such as office buildings, shopping centers, and warehouses. While a finance background can be helpful, there are numerous ways you can excel in this field by leveraging other skills and learning on the job.

1 Learn Basics

To excel in commercial real estate without a finance background, start by learning the basics of the industry. This includes understanding property types, market dynamics, and key terminology such as capitalization rates and net operating income. You don't need a finance degree to grasp these concepts; plenty of resources are available online and in libraries that can help you build a foundational knowledge. By dedicating time to self-education, you can confidently converse with clients and professionals in the field.

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Francis Siew

Linkedin Top Voice I Ex-Banker I Commercial and Industrial Realtor I Business Space
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To excel in Commercial Real Estate without a finance background: 1. Gain Industry Knowledge and Skills: Learn the basics, stay informed on market trends, and develop key skills like networking, communication, sales, and marketing. 2. Leverage Technology and Collaboration: Utilize CRM systems and property analysis tools, and partner with financial experts for insights and support. 3. Focus on Client Needs and Online Presence: Understand and address client needs, create valuable content, and use platforms like LinkedIn to showcase expertise and attract clients.

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2 Network Actively

Networking is a cornerstone of success in commercial real estate. Attend industry events, join real estate associations, and connect with professionals on social media platforms. Building relationships with a variety of stakeholders, including brokers, investors, and property managers, can lead to partnerships and opportunities that might not require an extensive finance background. Your ability to connect with people and understand their needs can be just as valuable as technical financial skills.

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3 Focus on Sales

If your strengths lie in sales rather than finance, commercial real estate offers ample opportunity to leverage those skills. Excelling in sales involves understanding client needs, persuasive communication, and negotiation — all of which are crucial in CRE transactions. By focusing on developing a strong sales strategy and honing your negotiation skills, you can create value for clients and close deals effectively.

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4 Embrace Technology

Embracing technology can give you an edge in commercial real estate. Utilize property management software, customer relationship management (CRM) systems, and data analysis tools to streamline operations and make informed decisions. These technological tools can compensate for a lack of financial expertise by providing insights and automating complex financial calculations.

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Robert Rigmaiden II

Founder & CEO of Soaring Capital | Entrepreneur | Speaker
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With the rise of online learning platforms, achieving a competitive advantage in commercial real estate can be attained by utilizing technology on the internet. Regardless of the discipline you choose, there are numerous web courses and resources available to elucidate fundamental principles. These resources are vital for achievement, especially if you lack a background in finance. Success in the sector is certainly achievable without a finance background, as there are numerous illustrative instances!

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5 Gain Experience

Practical experience is invaluable in commercial real estate. Consider starting in an entry-level position or interning with a CRE firm to learn the ropes. On-the-job training can teach you the financial aspects of real estate deals while you contribute to the company with your unique skills and perspectives. As you gain experience, your understanding of the financial components will naturally improve.

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Salvatore DOnofrio

Real Estate Appraiser & Consultant
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I would say also take some commercial real estate courses, possibly from the IAAO to understand how to value these properties

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6 Develop Expertise

Lastly, consider specializing in a niche within commercial real estate that aligns with your interests or previous experience. Whether it's retail spaces, office buildings, or industrial properties, becoming an expert in a specific area can make you invaluable to clients and reduce the need for broad financial expertise. Specialization allows you to focus on the nuances of your chosen niche and become the go-to professional in that segment.

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Emmanuel Onwu

Property( real estate) and business investor. CEO and Director of Visualising Properties Ltd / Positivity Expert!!
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Developing an expertise in a niche area can transform your success in commercial real estate, even without a finance background. By becoming the authority in an often overlooked sector, like adaptive reuse of historic properties or co-working spaces, you can carve out a unique market position. This specialization allows you to offer innovative solutions that others might miss, earning trust and recognition. Additionally, focusing on a niche helps you build a tight-knit network of like-minded professionals, amplifying your opportunities. Your unique insights and specialized knowledge can ultimately drive success beyond the traditional finance-centric path.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Commercial Real Estate

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Here's how you can excel in Commercial Real Estate without a finance background.

1

2

3

4

5

6

7

1 Learn Basics

2 Network Actively

3 Focus on Sales

4 Embrace Technology

5 Gain Experience

6 Develop Expertise

7 Here’s what else to consider

Commercial Real Estate

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Here's how you can excel in Commercial Real Estate without a finance background.

1

2

3

4

5

6

7

1 Learn Basics

2 Network Actively

3 Focus on Sales

4 Embrace Technology

5 Gain Experience

6 Develop Expertise

7 Here’s what else to consider

Commercial Real Estate

Rate this article

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