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The 4 Absolutely Best Ways to Prepare for an Interview

Leave a Comment / Blog, Interview Tips

Most people dread having to prepare for an interview. It’s laborious. They aren’t entirely sure what they should rehearse or study. And they really just want the interview to be done and over with so they can learn if they got the job or not.

But understanding how to prepare for an interview is a superpower in the CRE field. We’ve written on interview prep skills before, because it’s so crucial to a successful career. This key skill will enable you to control so much about the interview itself and whether or not you get the job. To simplify, there are four basic ways to prepare for an interview. Whether you are competing for a job as an analyst, associate, or project manager, these principles are the same. Cover these four bases, and you will greatly improve your chances of scoring that dream job.

1. Do the Homework

Your knowledge of the company, role, and industry are crucial to solid interview performance. Know your stuff. Here are some of the key points to research in mastering this area of preparation:

  • The Company Don’t just skim their website and LinkedIn. Spend time on their social media pages, blogs, and Google reviews, etc. Find out what others say about them. Is this a good place to land?
  • The Culture Peruse social media platforms to find out how employees interact. Are they playful, somber, casual, formal? Check out their mission and values. How do these intersect with your own? Even their mission statement and words they employ on their website can give you an indication of the company culture.
  • The Team Go the extra mile and stalk the hiring team. No, not in a creepy way – but you want to understand their frame of reference and backgrounds at a reasonable level to be able to build rapport.
  • The Job Make sure you have a firm grasp on what this company is looking for and the requirements. Understand the main responsibilities of this position.

2. Prepare Your Responses and Questions

An interview is of course a series of questions and responses. So a crucial way to prepare for an interview is to prepare a list of common interview questions and prepare your tailored responses to each. Your list should include at least ten questions and answers. But at a minimum, be prepared for these three common commercial real estate interview questions:

  • Long-Term Goals Hiring the wrong fit costs the company time and money. They want to know your goals align with theirs. So find out what those goals are, and prepare to explain how they sync with your own.
  • Excel Skill Level This is a big one in CRE. So many positions require a deep understanding of Microsoft Excel from analyst roles to property management positions. So be ready to discuss your proficiency with this program.
  • About Yourself Last but certainly not least, you will at some point be asked to tell the team about yourself. This is not the time to disclose your personal hobbies and family history. The hiring manager wants to know how you got to this point in your career, what your approach and style are, and some key accomplishments.
  • Questions for the Team

Allow the person interviewing to be in charge of the discussion, but try to ask a few questions. Be

sure the questions reflect your commitment and desire to work for the company.

3. Look the Part

To prepare for an interview, you must look the part. This includes not only the clothes you choose to wear to the interview, but also the accessories you bring, the organization of your papers, and how you handle yourself. It’s important to make the right first impression. Here are some key aspects of looking the part:

  • The Outfit Don’t just dust off your old interview suit from your last job; wear something modern and tailored. Make sure it is pressed and cleaned. Not sure what is appropriate? Hang out at the café across the street to see what employees are wearing and then take it up a notch. Or ask the hiring manager what is appropriate. It is always better to be overdressed.
  • Grooming Yes, people will notice if your fingernails are not trimmed or if you haven’t shaved in a couple days. Do what it takes to feel good about yourself and present a polished package. This will translate into confidence in the interview.
  • The Briefcase Whether you bring a bag or briefcase, make sure it is adequately packed and organized. Include at least five copies of your resume, breath mints, a stain stick, a notepad, etc. And reduce the clutter. You want to be smooth and collected, not digging through a pile of stuff. Keep your cellphone stowed and off to avoid distracting disruptions.

4. Hone Your Outlook

Lastly, prepare for an interview by getting your head in the game and developing your outlook for success:

  • Career Highlights Before the interview, be prepared for unexpected questions by thinking over the highlights of your career: where you have struggled, how you overcame, and what you have learned and accomplished.
  • Body Language Check yourself to make sure your body language is open and confident while rehearsing your responses. Don’t come off as shifty, nervous, overbearing, or closed down.
  • Sleep It sounds simple, but get enough sleep before the interview. Your mind needs rest to prepare for an interview!
  • Ask! Though often overlooked, it is especially important in the highly competitive CRE industry to come right out and state your interest in the job. Ask for the job! Expressing your interest in an interview is crucial. It shows your eagerness and willingness to become a part of the team.

Sources:

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Why Some Companies Are Letting Employees Choose Their Own Perks and Benefits

Leave a Comment / Blog, Employers

More and more companies, with the resources to do so, are exploring the options of moving away from traditional benefits structures and into benefit budget allocations.

We frequently run into this with candidates as each individual has their own desires for specific benefits. Some are based around family situations (health insurance coverage or flexible hours) while others are based on amenities (company provided lunches or an on-site gym).

As the war for talent continues, keep an eye out for companies differentiating themselves through their benefits.

Read the full article here, published on LinkedIn.com by Maxwell Huppert on August 16, 2018.

Why Some Companies Are Letting Employees Choose Their Own Perks and Benefits

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How to Ask for a Pay Raise and Totally Get It

Leave a Comment / Ask An Expert, Blog, Set Yourself Up For Success

How should you ask for a raise in such a way that you actually get it? You’ve worked hard, you see your value to the company, now how do you convince your superiors of this and actually get the raise you deserve?

The Industry is Heating Up

The economy is doing well, and the commercial real estate sector is thriving right now. Whether you are an executive assistant, analyst, project manager, or some other position within the CRE space, chances are you’ve seen the industry consistently growing and wondered if you will see a piece of it.

According to PayScale, wages for the commercial real estate sector have grown 2.4% in the last year and 14.4% since 2006. More businesses are opening and expanding, and they need commercial space. The American consumer is spending more, which translates into higher demand for CRE professionals and their services.

This means there are more opportunities for growth and expansion for current operations. And a study by Deloitte shows CRE investors are planning in increasing capital investment in US markets 13% in the coming year and a half. This begs the question:

Have you experienced this kind of growth in your personal paycheck?

The First Step to Asking for a Pay Raise

Perhaps you’ve considered asking for a raise for a few months but just don’t know how. You might think that if you ask for a pay raise, you might be seen as money motivated or even put your job at risk. But getting paid what your worth is a fundamental part of being a professional. If you’re making your company money, you are entitled to a portion of that pay.

So what’s the trick? How do you ask for a pay raise and successfully get it?

First, ask yourself a few questions. Timing is everything. Is your company profitable? Or are they a startup? We’ve already seen that the CRE industry is growing, and investors are increasing their capital outlays. But what about your firm?

If so, then ask yourself if you truly deserve this raise. Whether you need it or not is irrelevant to your manager. What matters is that you have truly excelled in your job. Have you met all your responsibilities and then some?

Then ask yourself what other professionals in your profession and at your level are making. Before you ask for a pay raise, check Glassdoor.com to get a feel for what you should be paid for the value you provide. CEL Associates also produced a 2018 survey regarding compensation ranges in the industry. Building Careers summarized this data as well.

Lastly, ask yourself if you’re truly happy at this job. Perhaps you would rather explore new options. But maybe you do enjoy working here and simply want to feel compensated for what you bring to the table.

The Ask

So you’ve asked these crucial questions and determined now is the time to ask. You have your number in mind, and the meeting has been scheduled. Before you step into your superior’s office, here’s what managers and the experts say is the best way to execute the ask.

  1. Practice Before the meeting, practice your key points, and anticipate questions or counterpoints. Be confident and know what you want to say.
  2. Explain Your Goals Your manager understands you have an existence outside the company. Sure, you’re here to do your job, but you also want to grow in your career. Explain your goals frankly to your supervisor and how your job fits into those long-term plans. Then ask for feedback.
  3. Provide Numbers Explain the value you have contributed to the company. Use specific numbers to prove you are making a difference and truly profiting the business. Numbers are very convincing.

4. Prove Achievements and Successes

Examine your current responsibilities versus what you were hired for. Are you taking on

additional responsibilities or going above and beyond on your current ones? Be able to demonstrate

and articulate this. Referencing your original job description is a good starting point.

5. Discuss Your Future Value

Show loyalty to the company and interest in achieving more for the team. In doing so, you are

reminding your manager that it is a candidate’s market, and you are choosing to stay with this

company. You don’t have to be here. 6. Ask Specifically Use a specific number when you ask for a pay raise. You’re not just whining about getting paid too

little. You have a specific amount you believe you are worth and that the company can afford to pay

you. Ask for it. And if you receive any pushback, don’t hesitate to ask for more responsibilities by

name. Specificity shows this is a very real value proposition, and not just a theoretical.

As a professional in the CRE industry, understand your place in the business and just what you contribute. Expect to receive value for the value you contribute. And communicate this expectation clearly at the right time and in the right context. You can ask for a pay raise in such a way that giving it to you is simply good business.

Sources:

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The 3 Things Employees Really Want: Career, Community, Cause

Leave a Comment / Blog, Employers

These are the 3 things that employees really want, but most companies are only built around one.

Career – a position that allows you to problem solve, grow, and aligns with your strengths

Community – feeling valued and acknowledged by others and creating connected relationships

Cause – making a difference and being driven by a purpose to make the world a better place

Interestingly, all age groups seem to share these motivators, but cause seems to become more relevant to the over 55 demographic.

Focusing on these important pillars allows for companies to better recruit, retain, and satisfy employees.

Published in Harvard Business Review by Lori Goler, Janelle Gale, Brynn Harrington, and Adam Grant on February 20, 2018

The 3 Things Employees Really Want: Career, Community, Cause

The 3 Things Employees Really Want: Career, Community, Cause Read More »

Is It a Good Idea to Accept a Counteroffer?

Leave a Comment / Blog, Job Search

Changing jobs is difficult, and whether or not to accept a counteroffer can be one of the most difficult parts of the process. Career changes are common in CRE, and they mean making difficult decisions.

But it’s worth thinking through the various facets of this question to determine what is right for you, your family, and your career. This can be an emotional and nerve-wracking ordeal, so let’s step back and break the matter down, piece by piece.

Why You Receive a Counteroffer

When you submit your resignation letter, your supervisor has real motivation to keep you on. That’s why approximately half of employers will respond with a counteroffer. Think about it from their perspective. You may have felt underappreciated or stunted or bored or underpaid – but the moment you resign, this is what your boss is feeling:

  • “This is horrible timing.”
  • “Perhaps I can keep him on until I can find a replacement.”
  • “What will this mean for morale?”
  • “Finding a replacement is going to be expensive.”
  • “How can he do this after all the training we have invested in him?”
  • “This had better not mess up my upcoming vacation plans.”

The people you work under have a vested interest to keep their company, department, and projects running smoothly. They are under a lot of pressure to maintain control of the situation and keep their superiors or stockholders happy. Your career is relatively low on their priority list.

And your resignation can be a wakeup call for them to do whatever it takes to solve this problem they now have. Chances are the concerns that caused you to initially explore the job market in the first place will not magically go away if you accept a counteroffer. You may even be viewed with suspicion if you accept the counteroffer and stay on.

According to Jim Stroud of the Bernard Hodes Group, your employer is thinking that “paying a little extra now is worth it in terms of keeping the train moving, versus the potential delays and issues that would arise from an empty cubicle seat.”

But this could be dangerous for your career.

Will Your Problems Be Solved If You Accept a Counteroffer?

When considering whether to accept a counteroffer, remind yourself why you chose to accept a new role to begin with.

  • Perhaps you were underappreciated and couldn’t get adequate compensation for your value.
  • Perhaps you wanted to work closer to home.
  • Perhaps you were bored or wanted a real challenge.
  • Perhaps you didn’t get along with your co-workers or boss.
  • Perhaps the company lacked culture or direction that aligned with your values.

Would a little more money really solve any of these and give you the fulfillment you seek? Are you just kicking the can down the road by staying? Or even worse, will you be laid off as soon as they find a suitable replacement?

Studies show employees who accept a counteroffer typically stay with their employer less than a year, according to Christopher Elmes of the Capital H Group, a human-capital consulting firm. They’re either laid off, or they continue to feel the same frustrations that drove them to leave in the first place. Elmes goes on to state:

“No matter what the offer or counteroffer is, if the underlying job dissatisfaction issues aren’t addressed, then it doesn’t make a difference…The sense of affiliation between the employer and the employee will be severed, and the employee may never be trusted again…Once you take the counteroffer, your relationship is now almost entirely predicated on cash, and that is not a healthy criteria.”

Stay the Course

If you were convinced about the new job, remember your reason for accepting, and stay the course. Politely inform your current employer that your decision was made carefully and based on many different factors. It is best for where you want to take your career. Consider avoiding disclosing details of your new offer in the first place (i.e. the new company name, how you found the role, or your new compensation details), when you give notice to eliminate the awkward position of a counteroffer. Be polite and professional, but firmly state that your decision is final.

Thank your employer your experience there first and foremost and also for their counter if it comes. Don’t burn any bridges. You never know what the future holds. But realize that reneging on your verbal agreement with your new employer can give you a negative reputation of not valuing integrity. In the end, the hazards of changing course after accepting a new job offer usually outweigh the perceived benefits.

The best response to a counter offer is usually a polite “No, thank-you.”

Sources:

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How Taking Paid Vacation Time Benefits Employees and Employers

Leave a Comment / Blog

With the 4th of July holiday occurring mid-week this year, it seems like more employees are taking advantage of their vacation time, which will ultimately benefit employers.

Some employer benefits include:

  • Cross-training other employees
  • Evaluating employee performance
  • Identifying areas for process improvement
  • Operating with more relaxed and focused employees
Vacation Time | PTO | Work Week | 4th of July

Read on to learn more about employer and employee benefits of paid vacation time. How Taking Paid Vacation Time Benefits Employees and Employers

Published on thebalancecareers.com by Suzanne Lucas and updated on April 29, 2018.

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San Diego Developers Wonder When Boom Time Will End

Leave a Comment / Blog, Industry Insights

San Diego development is still booming with exciting opportunities to bring more tech companies into the region. Last week’s panel emphasized how San Diego is still relatively cheaper than the rest of the West Coast and access to capital is plentiful.

Read the full panel recap here: San Diego developers wonder when boom time will end

Published in the San Diego Tribune by Phillip Molnar on June 19, 2019

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