What do you do if your Commercial Real Estate skills are becoming outdated?

Get your CCIM designation. If you already have your CCIM, take their newest courses. Hire a real estate coach. The industry now has a solid group of them and I am glad to provide a list. Hire a young intern and embrace new ideas.

Ensuring your proficiency in commercial real estate remains current is fundamental for success. Delving into specialized fields and harnessing the power of networking can broaden your scope and unveil new avenues for advancement. In real estate, networking isn't merely advantageous—it's indispensable. It serves as the conduit through which transactions are initiated, alliances are formed, and triumphs are realized. While networking is advantageous across various sectors, in real estate, it assumes a pivotal role, fueling progress and propelling practitioners forward within this dynamic and competitive arena.

To keep skills up-to-the-minute. It's a great idea to sign up for reputable CRE-focused courses and workshops, with institutions like the CCIM Institute or Urban Land Institute offering specialised programmes.

The best way to stay relevant in commercial real estate is to embrace new technology. Technology has made the investors smarter and more efficient. Consider utilizing the following: 1. Investment management software 2. CRM and task management software 3. Social media, email, and SMS marketing 4. Outsourced overseas workers to handle busywork

To stay relevant in commercial real estate, proactive learning is essential. Instead of traditional courses, consider immersive simulations that replicate real market challenges. Such innovative learning tools not only update your skills but also enhance your adaptability in real-world scenarios.

Leverage networking by initiating a specialized think tank within your network, focusing on future real estate trends and technologies. This collective approach not only broadens your perspective but also embeds deeper industry connections that are crucial for continuous personal and professional growth.

In the realm of technology, prioritize learning about AI-driven analytics platforms. These tools offer predictive insights into market trends and consumer behavior, far beyond conventional software, giving you a competitive edge in making data-backed real estate decisions.

In the context of CRE market analysis, I see a large potential in GIS tools like ArcGIS, which help analyse properties' geographical aspects and enable users to access, store, and analyse location-based real estate data.

Stay actively engaged in the industry by attending CRE seminars, webinars, and conferences. These not only keep you abreast of current trends but also provide networking opportunities

Advance your market analysis skills by integrating geo-spatial analysis tools. These can provide a more nuanced understanding of market demographics and property valuations, which helps in predicting future real estate hotspots and investment opportunities.

As Wayne Gretzky said, "I skate to where the puck is going to be, not to where it has been." You need to roll up your sleeves and research where the market is going and continue to keep you finger on the pulse of the market. Start with Google and ChatGPT. Talk to industry leaders. Once you have a good feel for where things are headed, do a skills gap analysis. This will keep you relevant well into the future.

Transform your strategic planning by adopting agile methodologies, commonly used in tech industries. This approach allows for more flexible and responsive planning in your skill development, adapting quickly to the ever-changing real estate market.