Become a Microsoft Excel Expert ASAP
This may sound obvious, but the sooner you can master the art of Microsoft Excel, the quicker you can become an efficient commercial real estate analyst. Early on in your career, or better yet before you start your new job, learn anything and everything you can about excel. Learn to build excel models from scratch, get your keyboard shortcuts drilled into your brain, and figure out which formulas do what.
Build a solid foundation early on in your career and eliminate the learning curve on the job. The last thing you want on the job is your boss to have to train you in excel. You will be expected to know these things, so the quicker you can learn it the better off you will be.
Pay Attention to the Details
This will prove to be crucial early on in your career. The faster you can learn to read the fine print and be on the lookout for mistakes, the quicker you will gain the trust of your work mates and boss. This can be things as simple as being sure to follow the protocol on how your company saves files down, to verifying your numbers tie out properly in the analysis you prepared.
Whatever the case may be, the best practice is to take a second and double check everything before you send it off. While this can be challenging at times, especially in the world of CRE which at times can feel like a constant sprint, take the time... reread that email... double check that calculation... Look for something to fix, and most times you will find something.
Be Eager to Learn
Remember all of the CRE knowledge you learned in school? Well get ready for the real-world lessons when you start your journey in commercial real estate. Everywhere you turn there will be an opportunity to learn at your job.
Get that pen and notebook ready, because starting out in your career you will need it! While you can read articles (like this one) online about what to expect on the job, and how to do x, y, and z...The best way to learn is on-the-job. There is so much to learn about our industry, especially starting out, and only so much of it can be learned in school, online, or books.
The beauty of commercial real estate is that there are a ton of seasoned professionals who have decades of experience. If you are fortunate enough to join a CRE team with a few, you are in for a treat. Find these team members and ask to grab a coffee with them from the start. Most will be more than willing to share their expertise and be happy you asked.
Go to lunch with colleagues... ask questions... listen in on internal/external calls, find a mentor on your team. Write down everything you are unsure of after conversations and go figure it out. Being eager to learn will propel you in early on in your career.
Think Outside the Box
Life as a CRE analyst can be tricky...One minute you are deep in analysis (in the weeds some call it), underwriting a deal and the next you are looking for the best way to format and present your data to investors or clients.
Make sure this format is on point here, check to make sure this lines up over here...
This is a side of the job duties that most incoming financial analysts do not realize. You will be busy early on in your career, unless you are fortunate enough to have a design team in house, with Microsoft PowerPoint putting together pitch decks, offering memos, investment committee materials, etc.
The ability to be creative, think outside the box, and present your data in a easily consumable fashion can be extremely valuable when putting together deliverables, both internal and external. Note, this gets easier with more time under your belt, and was not intended to scare you off from your new job! Stick with it, it will get easier!
Put in the Work
It sounds cliché, but now is the time to put your head down and get to work. Life as an analyst can be tough. What can make it easier?
Gaining respect from your colleagues. How do you do this? Be willing to take on projects no one else is willing to. Put in the time and effort, even if the request comes in after 4 pm on a Friday.
Putting in the work early on in your career can help separate you from the pack of other analysts and will help you gain the skills needed to take your career to the next level.
At the end of the day, if you combine these 5 skills early on in your career as a CRE analyst, I guarantee you will set yourself up for success.
Hopefully this helps...In case you are looking for more tips on how to succeed as a commercial real estate analyst check out our Free Analyst Foundations Course.
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