| Every commercial real estate brokerage firm claims | | | | handsomely. Others are not as committed, and have |
| to have great training, but few really do. Our | | | | training departments that may be lacking in quality |
| research indicates that the quality of the training | | | | offerings and delivery platforms.New college grads |
| programs in the industry varies significantly. Thus, | | | | and other sales professionals seeking a job in the |
| those seeking to enter the highly competitive | | | | commercial real estate industry should do a thorough |
| commercial real estate field should do some research | | | | job of researching how good their prospective |
| and assess the real training capabilities of their | | | | employers' training program really is. When considering |
| prospective employer to increase their chances of | | | | potential employers, they should ask about training, |
| success.The most prevalent training methods today | | | | review the firm's training curriculum, find out how |
| consist of spending time as a researcher or | | | | soon and how often they will receive formal training |
| marketing assistant, or as a "runner" for a more | | | | and what form it will take.Is training offered in |
| experienced broker. In some cases, an office | | | | textbooks and/or manuals? Are formal live courses |
| manager may assemble new employees together for | | | | provided? Does the training offer webinars and online |
| informal "training" sessions once a month. Most often, | | | | education? Is it using the full array of available |
| the new employee learns the business through | | | | platforms to appropriately deliver training in both the |
| "osmosis," by absorbing facts as they go. This | | | | cognitive content (technical and factual knowledge) |
| approach is inherently inefficient, has the potential for | | | | and the "soft" content (prospecting, presentation |
| serious learning deficiencies, and does not follow a | | | | skills, negotiating techniques, etc.) necessary for new |
| structure that guarantees the trainee will have the | | | | brokers to succeed?The prospective commercial real |
| chance to develop a solid foundation in the basics of | | | | estate professional should interview a couple of |
| the business. Considering that the turnover rate | | | | newer employees at the firm to find out how their |
| among those new to the business tends to be | | | | training has gone so far. Employees should place a |
| particularly high during their first three years, it is | | | | very high priority on the quality of training offered by |
| understandable that some employers are reluctant to | | | | their prospective employer; their success in the |
| invest dollars in training new agents. However, this | | | | business may very well depend on it.Eduardo E. |
| may be a shortsighted approach since quality basic | | | | Alegre has been actively involved in the commercial |
| training:1. Does not have to be expensive2. Can weed | | | | real estate industry since 1982, when he started his |
| out those not committed to the business3. Shortens | | | | career with Coldwell Banker Commercial. In 1995, he |
| the learning curve and accelerates the time to | | | | was appointed Managing Director of CB Richard Ellis' |
| market4. Is an effective retention tool5. Delivers | | | | Miami office. In his role as Managing Director, he |
| value to the employee and creates loyalty6. Helps | | | | developed training courses for new salespeople, |
| manage risk and reduces liability 7. Generates more | | | | experienced professionals and support employees. In |
| revenues soonerThe characteristics of organizations | | | | 1999, he created the South Florida Corporate |
| committed to providing quality training and employee | | | | Services team, implementing and delivering a wide |
| education include:1. A real commitment from the firm's | | | | range of services, including Consultation, Strategic |
| leadership, including the CEO2. A training staff that | | | | Planning, Merger & Acquisitions Strategies, and |
| includes professional educators3. Training that is | | | | Transaction Management, to corporate clients, in |
| offered and available at all levels of the company4. A | | | | addition to traditional brokerage services. Mr. Alegre is |
| curriculum or learning path for employees to follow5. | | | | a UCLA graduate, a licensed California real estate |
| Education delivered using a variety of learning | | | | broker, and a licensed Florida broker. In 2005, Ed |
| platforms6. Recognition and rewards for those who | | | | partnered with Mike Miller and together they created |
| learnSome commercial brokerage firms have | | | | the PCE Tool Kit. Ed Alegre and Mike Miller started |
| embraced education and training as a way to win the | | | | the PCE Tool Kit project out of sheer frustration |
| recruitment and retention battles, even among more | | | | when trying to find quality materials to train |
| experienced brokers; there is evidence that their | | | | associates new to the real estate leasing business. |
| investment in initial and ongoing training is paying off | | | | |