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