Commercial real estate can be a very difficult business to get into. The tenant representation side is extremely rewarding and has a lot of upside: there is no cap on an agent’s income, you are not limited to specific area or product type, and most notably, a tenant rep’s services don’t cost the tenant they are helping anything. There are some challenges though and if it were easy, everyone would be in this business.
Commercial real estate in general has a long sale cycle and very often can take 6-12 months to close a transaction. That is only after an agent has spent months or years building a relationship with a potential client to even be in a position to get hired. There is a general lack of direction and mentorship in the industry as well.
All companies talk a big game about training, but I can count the number of firms on one hand that even have a discussion on the fundamentals of real estate. How are these agents supposed to sell a service that they don’t yet understand, in a business where they have not been taught the most basic of real estate fundamentals?
There are countless stories of young professionals who excitedly show up for the first day of work at a real estate firm, only to be greeted by a stark, “Hello. Here is your desk, box of business cards, and phone.” Talk about getting thrown to the wolves! Real estate companies are setting themselves up for failure.
Whitebox Real Estate always strives to be different, and we are extremely proud of the intensive training program we have established. The program runs for about six weeks. We have a crash course in the fundamentals of the business that we cover the first six weeks, and then it is an ongoing training dedication. We spend about 3-4 hours per day the first six weeks, and after the first six weeks, we spend at a minimum three hours a week perfecting our trade.
Real Estate is an apprenticeship business that’s learned over time with good mentorship and instruction. Whitebox is proud to noticeably shorten the learning curve to propel our team to a higher level of service faster in the process, due to superior training and real deal experience. By doing so, this adds value to a strong, educated, and uniform team so we can better serve our clients.
After all, we believe that if you give a man a fish, he will eat for day. If you invest the time in training and teaching the man to fish, he will eat for a lifetime.