Taking control of your career in real estate investment
Being proactive is one of the key drivers in career management. Proactive in understanding your career goals, proactive in learning how to achieve those goals and proactive in taking actions for growth. Building a successful career in real estate investment requires careful planning, continuous growth, and strategic decision making. Aurex Group’s team has simplified the…
Being proactive is one of the key drivers in career management. Proactive in understanding your career goals, proactive in learning how to achieve those goals and proactive in taking actions for growth.
Building a successful career in real estate investment requires careful planning, continuous growth, and strategic decision making. Aurex Group’s team has simplified the critical considerations we regularly discuss with real estate investment professionals and offer ideas on how to take control of your own career.
Career Goals:
Setting, and reflecting on, your career goals is the foundation for taking control of your career development.
What is it that you want to be doing, and why? Who in the industry has the role you eventually want to have, and why? What do you want to achieve and deliver, and why? These are great questions to ask yourself and look ahead as you continually build your career.
From these questions, you can build a road map to develop competency and capability across both hard and soft skills that can bridge the gap between your current role and the one you want to achieve.
Aurex recommendation: Evaluate your strengths and passions, and factor them into your decision-making process. As you tackle the questions above, aligning both your proficiencies and interests will help sustain your motivation and give you a competitive edge.
Keep Building Yourself:
Hard skills, soft skills, track record – it is all additive and moves you towards the goals you’ve set. So, what are you missing, where are the gaps, what do you need to build?
Understanding disruptors and new influences to the real estate industry is key to creating your own point of difference. Whether it’s technology adoption, shifting economic fundamentals, emergence, or transference of asset classes; keeping informed and prepared for industry developments will set you apart.
Further education, particularly building towards industry and functionally specific qualifications are highly regarded. CFA, CPA, CAIA and RICS are widely recognised as a benchmark of capability and advanced competency for all investors in real estate.
If diversification is part of your career goal, it doesn’t just mean asset class. Understanding and experience with different investment strategies and capital flow, geographies, team sizes and even management styles. All of this will continue to build adaptability, technical skills, communication skills and leadership qualities.
A well-developed set of interpersonal skills will allow you to build stronger connections with industry stakeholders and partners. Effective communication is a cornerstone of relationship-building, enabling you to connect with clients and managers alike, understand their needs, and align with their vision. Additionally, cultivating qualities such as patience, emotional intelligence and empathetic leadership is paramount to achieving success and growth in your career.
Aurex recommendation: Embrace opportunities to build a diverse and holistic skill set. Gaining exposure and building capability will develop professional profile which will naturally appeals to investors, partners, potential employers, and employees alike.
Find a mentor, or be one:
A mentor can provide guidance, advice, feedback, insight, and support. Generally, a mentor won’t tell you what to do but provide an impartial environment for you to pause and reflect through the lens of an experienced individual. The relationship between you and your mentor is one grounded in honest self-appraisal and valuable guidance. A mentor/mentee relationship is different to a Manager who is likely to be more prescriptive in their advice, aligned to the business in which you’re working.
Your mentor will help you clarify your goals and hold you accountable to achieve them. The mentor relationship will naturally build your soft skills like self-awareness, adaptability, active listening, and verbal communication. The mentor will provide invaluable knowledge and insight, from their vast experience and professional tool kit they’ve developed throughout their career – and likely benefited from their own mentor relationships. A mentor can also raise your profile through professional networks and associations to which they belong.
In time, through the advantages this relationship has given you, be open to the idea of being a mentor yourself. Or proactively seek these opportunities through corporate programs, industry associations, commerce bodies and education institutions.
Aurex recommendation: Take control of the invaluable opportunity to be a mentee, or a mentor. It is an often-overlooked experience that will intangibly advance your career, industry standing professional opportunities.
Foster Personal and Professional Connections:
Being an active participant within real estate industry associations can enhance your professional profile and expand your network. It gives you access to various resources and allows you to stay updated on industry news and regulations. Networking events and industry / association presentations create an environment for you to cultivate relationships based on mutual interests and will pave the way for future collaborations and career growth.
Aurex recommendation: Join ANREV, ULI, APREA or others to uncover professionals across all levels, yielding valuable insights and noteworthy discussions with experts in the field.
Build Relationships with Professionals in Executive Search:
Recruiters can be strong allies in your career advancement, offering an industry-wide perspective on strategic career moves in your best interest. Good recruiters invest significant time in understanding your unique career aspirations and strengths, providing personalized feedback on your resume, interview skills, and potential roles. They can share information and help you prepare for performance reviews and salary negotiations by sharing market analysis and benchmarking. They will also share insight learned from their own relationships executive hiring managers in what they look for, how they assess and ultimately select game-changing talent for their business.
For a multitude of reasons, not all job vacancies are advertised. Many companies in real estate investment rely on their own partnerships with Executive Search firms to identify high performing professionals to help shape new business initiatives before they are made public. A competent recruiter possesses a thorough understanding of the real estate industry, beyond the advertised vacancies and headline employers.
And we’ll leave you with this…
Last month, former US President Barack Obama and Microsoft co-founder Bill Gates were asked separately to share their most important career advice. In their own way they said, “just learn how to get stuff done”. Respective interviews with each leader can be summarised by saying: The best way to be stand-out professionally is to be known as someone who “nails whatever is assigned to you, and still looks to take on more”.
With the tips above you can confidently navigate the job search process, expand your current role, and take your career to new heights.
To find out more about this latest insight from Aurex Group, please connect with our team via www.aurexgroup.com.
Source links:
- Career goals: Why employers want to know and how to ace your answer – Fingerprint for success
- The Impact of ChatGPT’s Popularity on the Real Estate Industry – CHFT Advisory
- In Focus with FINSIA’s new Board Director Vanessa Beggs – Finsia, Weds 5th July 2023
Aurex Group can help
If you are a company considering hiring, we welcome the opportunity to present our services and capabilities. If you are a candidate, please check our jobs page or contact us to discuss your background, skills, and future aspirations. We always look forward to staying connected and exchanging ideas, insights, and opinions.
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