Being ready is not what matters. What matters is winning after you get there.

LtGen Victor H. Krulak, USMC
April 1965

Much of what I know about discipline, excellence, and leadership comes from my 5 years in the Marine Corps.  Marines exist for one reason – to win battles.  At a foundational level, Marines only do two things – win battles and train to win battles.  My little brother is a Marine pilot.  He deployed to the Horn of Africa earlier this year and will be deploying again soon.  He will tell you that his days are spent training for the potential missions that he could have while deployed.

I firmly believe that Commercial Real Estate advisors have the ability to succeed in any market.  The keys are systematizing your business (prospecting, creating presence, etc.), specialization, building a cohesive team, and loads of tenacity.  But let’s be honest.  The last 4 years have been tough.  There is a silver lining to a down market – you get to train.

I was honorably discharged from the Corps on Nov. 1, 2004.  I moved home and started working with my dad in the Commercial Real Estate industry on Nov. 2.  The next week I was in my first CCIM class.  I didn’t even have my license yet.  As a CCIM designee, he understood the value of the CCIM education to my career.  He also knew that it would be harder for me to have time to pursue the designation when I had a full pipeline.  So it can be with a down market where you find yourself with more time.  Here are 4 blessings of that silver lining.

1.  Master Your Craft – when you have 50 listings and 20 deals under contract (may it be so!), you don’t have time to sharpen your ax.  You just keep swinging.  In a down market, however, it is imperative that you continue to master your craft.  Take a course on financial underwriting.  Read a book on cold calling.  Train!

2.  Attrition – In this sense, Darwin was right.  Since the height in 2008, around 40% of CRE practitioners have left the industry.  This is good for a couple of reasons.  The best brokers and advisors are the ones still standing.  This raises the bar of excellence, and the reputation, of the entire industry.  This also leads to blessing #3…

3.  Increased Market Share – By default, with 40% less brokers and advisors in the business, a huge amount of market share is up for grabs.  Frankly, I don’t want to settle for some default increase.  As we see the market picking up, now is the time to claim that market share.  This leads to blessing #4…

4.  Rewards for those that Invest in Themselves – Blessing #4 is the natural conclusion of the first three.  Be the one that invests in yourself – train hard!  Take advantage of the attrition our industry has seen.  Don’t simply rely on a law of averages that you will pick up more market share just because you have less competition.  Hire a coach.  Study and emulate top performers who did not use an excuse of a down market.  Take advantage of the time to train.

So how have you used the last 4 years to master your craft?  How are you gaining market share left behind by those that bailed?  I invite you to share you stories and successes.  Let’s learn from each other!