Here’s this week’s recommended reading:
From Thanks To Action To Impact: Why, Why Not? Guest Post: Gavin Mogan.
Uplifting messages light up the blogosphere during Thanksgiving week. I hope my contribution is uplifting, but my purpose is to challenge. Challenge sort of fuels you, the CRE Tech Maverick.
Be thankful, +52. Gratitude as a platform.
But is thanks enough? An attitude of gratitude is only a platitude to many less blessed than you. If thanks is the idea, then giving is the finished product… Via Duke Long.
Real estate investors snap up medical office buildings as boomers age
As aging baby boomers fuel growing demand for health-care services, investors are increasingly turning their attention to medical office buildings — a niche within the real estate market that some argue is recession proof… Via TheStar.
Shrinking U.S. Shopping Malls Get Makeovers
Visitors used to flock to the Highland Mall in Austin, Texas, around the holidays to stroll through the city’s first enclosed shopping complex and admire the giant Christmas tree crafted from poinsettia plants…. Via WSJ.
“Giving starts the receiving process.” – Jim Rohn
The quote above speaks volumes to us over at TAG. Like so many of you, our business is built on meaningful relationships. Being able to grow relationships is an incredible talent and is so important to fostering professional success.
Yet, when most people go about this, the number one mistake I see is where a person jumps right in with the expectation that they’re going to “get” something from the other person. Imagine all the times when you’ve been introduced to someone: Do you go into a conversation with expectations? Maybe you struggle to connect with the other person, and you feel like you’re not getting anywhere.
If any of these apply to you, then it might be time to reassess your efforts. Here’s why giving is better than receiving:
Being able to deliver a great experience for someone is the best thing you can give.
When building any relationship, it’s never about what you can get from someone. It’s not even about what you think the other person needs.
Building a solid relationship is about creating an impactful experience for the other person. Every time you engage with someone, think about your interaction from their perspective. When you take this approach, the other person becomes more comfortable with you, they feel appreciated, they’re receptive to you and they become more responsive.
If you can give the other person a valuable experience, then you’ve committed the single most important feat: You’ve genuinely served another person without any expectation. And since experiences are unique, this is quite a difficult thing to master.
Try it out:
The next time you meet someone new, try to see the interaction through their eyes. Get a reading for how they think. Ask them questions. Be genuine and real in your interaction. It’s not easy, but you can start this ASAP.
Exercise: Pick one relationship you’d really like to foster. Take some time and figure out what makes them tick. Then give them something of value – it’s up to you to figure out what that is. Maybe it’s an email introduction between them and another person that can positively change the course of their business. Or, maybe it’s giving someone an hour of your time to serve as a mentor.
The more we give to people in a valuable and unique way, the more we can create a meaningful network of relationships which is beneficial for everyone.
Here’s this week’s recommended reading:
8 Challenges of Starting a Real Estate Investment Firm
Real estate is an entrepreneurial business where almost everyone aspires to do their own deals. That’s part of what makes it so interesting. There are a lot of really smart professionals out there eager to do their own deals, however starting your own firm is incredibly challenging. Here are the 8 challenges of starting a real estate investment firm in today’s hot market… Via A Student of the Real Estate Game.
Four Trends That Are Reshaping the Commercial Real Estate Industry
Over the past 30 years, the commercial real estate industry has quietly transformed from a “mom-and-pop” industry to an institutional asset class where owners manage complex and global portfolios. Institutional investors rarely used to invest in real estate. But with the rise of new investment structures and global commercial real estate investors, real estate now represents nearly 10 percent of institutional investment portfolios, or $6.7 trillion… Via Forbes.
10 Most Expensive Streets for Office Space
As the U.S. economy adds jobs, office landlords are adding tenants — but the landscape for how and where we work has changed fundamentally in the last decade. Technology makes offices less necessary for some workers, leading to shared office spaces in some companies to maximize wasted… Via CNN
3 Articles to Read This Weekend
Five Mega-trends Shaping Commercial Office Development
The developments and offices we plan and construct today are being governed by something I like to call New Office-ism. It’s a design approach that eschews monolithic uses in favor of mixed-use, walkable patterns. New Office-ism incorporates aspects of master planning, urban design and landscape architecture into commercial office development. It is what the next generation workforce expects, and communities that cannot provide it will fail to attract new businesses and be in danger of losing the ones they already have.
New Office-ism yields fully-functioning and walkable neighborhoods that just happen to be anchored by commercial office buildings. Here are five megatrends driving this new paradigm.
Top 10 Millennial Housing Markets
Today we’re looking at the cities where millennial generation homeowners are shaking up the housing market, based on an article in Bloomberg and featuring data from Realtor.com. The numbers represent the percentage of home buyers using mortgages. Here are the Top Ten Millennial Housing Markets in the U.S. for 2015: Via Llenrock Blog
Top 10 Most Influential Online Commercial Real Estate People 2015
Yes, it’s that time of year once again. Here we are now into our sixth year. How do you get to be one of “the most influential” people in commercial real estate? What is or should be the criteria? Simple”¦ hard ass work! Here they are in order!
Via Duke Long
3 Articles to Read This Weekend
Fed Survey: Bank Reports stronger Demand For CRE Loans
The Federal Reserve reports that banks reported little change in their standards on commercial and industrial (C&I) loans in the third quarter of 2015. However, banks also indicated that they increased premiums charged on riskier loans for larger firms on net. Via Calculated Risk Blog
Emerging Trends: Commercial Real Estate’s Data Driven Future
In the real estate industry, data is the Holy Grail. It’s the source of our knowledge and nearly all decision making capabilities. From investing to leasing, the data driven world of real estate enables businesses to compete and excel. In today’s infinite world of software, how can future real estate driven businesses leverage data to increase performance? Via ReTech
US Office Investors Shift Focus to Value-Add, Secondary Markets
With year-to-date U.S. office sales volume reaching its highest level since before the recession, domestic and offshore investors alike are extending their search for income-yielding properties into secondary markets and supply constrained inner suburbs. Markets such as Seattle, Chicago and Atlanta are the new star locations this year, with a select list of the top six highest-dollar office transactions of the third quarter showing a slight shift in trading activity away from San Francisco, Silicon Valley and Washington, D.C., which have each seen 20% or more of their total inventory change hands over the last 18 months. Via CoStar