Real estate is much more than selling residential homes. However, women make up just 37% of commercial realtors. In today’s episode of Women Who Lead, our host Teresa Palacios Smith is joined by two incredible women in the commercial real estate market to learn how they compete and thrive in this male-dominated market.
Meet Today’s Real Estate Professionals:
- Lottie Michael, CCIM, Senior Vice President, Commercial Division, Berkshire Hathaway HomeServices Alaska Realty
- Kim Matney, Commercial Sales, Berkshire Hathaway HomeServices Commercial Division Ambassador Real Estate, Omaha, NE
How did these professionals get their start in real estate?
- Dottie is a first-generation US citizen, and she’s been in Alaska most of her life. She got into real estate because she needed money quickly, and she’s always loved sales.
- She began her career in residential real estate, but her clients wanted to build an investment portfolio, so she took classes through NAR and joined commercial real estate to help them.
- Kim’s been in the business for ten years, and she got her start in 2006 when she bought a duplex in Omaha and decided to get her real estate license.
- When the recession hit, she got her license and moved full-time into real estate in 2016.
The commercial industry differs from residential:
- Commercial real estate is a broad category that can be refined. Whether that’s industrial, medical, investment, or another, each industry carries its own challenges.
- Interest rates and the threat of recession are large-scale issues affecting many commercial real estate areas. But overall, the post-pandemic mentality has led many to ramp up commercial spaces, even if employees are likely to work from home.
Three tips to other realtors watching:
- Be the first one in the office and the last one out. You won't make it if you aren’t prepared to put in the hours.
- Show up prepared. Do research, have questions, and understand what needs to happen next to reach an agreement.
- Work diligently to deliver your service, and be respectful to everyone around you.
What’s your superpower?
- Lottie knows the market and who are the movers and shakers, and it helps her make quick progress in her work.
- Kim’s background in business consulting and talent acquisition helps her speak in front of anyone. Researching her market thoroughly allows her to present professionally in front of others.
Advice to people looking to get into real estate:
- Do your research, know what you’re talking about, and go for it.
- When Lottie is working with Alaska-based companies, the CCIM (Certified Commercial Investment Manager) tells them that she is qualified and experienced in the industry.
- Look for similar certification opportunities, whether commercial or residential, to show that you are educated and understand your craft.
The importance of mentorship:
- Kim knew she wanted to practice commercial real estate before getting her license, so she discussed the industry nuances with many professionals throughout her career.
- Lottie enjoys mentoring other professionals entering the real estate industry, especially those looking to gain traction in the commercial space.
Book Recommendations from Kim and Lottie:
Remember, always bring women up the ladder with you as you climb to the top. For more great content from Teresa, connect with her on LinkedIn, join her Women Who Lead Series on Facebook and subscribe to her YouTube channel. You can find more episodes of Women Who Lead on Spotify, Apple Podcasts, and anywhere else podcasts can be found.
This episode is brought to you in part by Venus et Fleur.
Are you looking for a great way to show appreciation to family, friends, or even customers? Give them a floral arrangement they won’t forget anytime soon. These beautiful arrangements make the perfect closing gift for any realtor to stay top of mind. Visit venusetfleur.com and use code “hsoa20” when ordering for 20% off.
