Mary Jane Doyle

Being a member of an industry group, or several groups. Makes a huge difference. Getting to know people and being authentic with them before anything is at stake in a professional relationship, helps develop the trust and the respect that you wantbto develop. Industry contacts arr key, but use them to help your colleagues and you will develop a reputation as a problem solver, and that's always positive.

If you are interested in growing into Commercial Real Estate then understand that words have power. There is a language for brokers, there is a language for finance professionals. If you can speak the language of the group you are talking to, your thoughts and recommendations are considered with a deeper level of appreciation.

While there is financial responsibility in residential management, it is much simpler than in the commercial arena. When managing commercial buildings, it is typical to track revenue and expenses as a means to develop a robust Profit & Loss (P&L) schedule. Commercial property management is more about building value over time and residential management is more about managing the income stream on an annualized basis. In addition, in commercial buildings, leases lock tenants into the space over multiple years so the repair and maintenance is even more important to ensure satisfied tenants. If a residential landlord has significant deferred maintenance, it is easier for tenants to move

It's important to note that the following differences are generalizations and can vary based on specific roles, companies, and properties within each category. 1) Property types vary. offices, medical offices, retail centers, industrial, mixed use and labs and data centers. Each building has a very different set of operational considerations, which requires a broad range of skill. 2) Tenant relationships. It is a different relationship managing a space where someone is doing business vs, where they are making their home. 3) Lease terms and complexity. Typically, good residential leases are standardized around a few common paragraphs. Commercial leases are more complex and can contain terms related to build outs, and other complex issues.

It is imperative that you regularly obtain feedback. Fortunately, in our social media saturated world, that is not difficult. Take what you need to improve your message and examine if any feedback helps refine your skills etc as a leader.

In setting your intention, is it important to maintain static goals? No, but it is important to be consistent. Being an authentic thought leader requires you to examine and reflect on your values, to adhere doggedly to your ethics, and to be transparent in the nuances around your message of leadership.