IRVINE, CA—It's essential to stay true to yourself and not let the egos in this industry intimidate or change you, Buchanan Street Partners' investment analyst Stephanie Tan tells GlobeSt.com. This was just one of the nuggets of advice Tan shared with us as we spoke exclusively with her and Kristen Croxton, commercial lending for Capital One Multifamily Finance, in advance of the CREW Orange County mentoring event to be held here next week. Under CREW-OC's mentorship program, Tan was mentored by Croxton. Below, more from our conversation about mentoring and helping women advance in commercial real estate.
GlobeSt.com: Can you tell us a little about how your personal and professional background has prepared you for your leadership role within the commercial real estate industry?
Croxton: Playing team sports as a child helped prepare me for my leadership role in commercial real estate. From a young age, I was coached by people who were able to encourage me while helping me improve. When I entered the workforce, I sought out mentors with similar skills, a strategy that has helped to prepare me for every new challenge. Further, sports taught me early on the value of teamwork. Working together always created the best outcomes, and the same has been true in my career. By taking the time to find the right business partner and colleagues, I've been able to continue to grow our business.
Tan: My personal background prepared me for leadership in an unconventional way. Early in my life, my mother found herself in a position as the sole provider for our family. She worked many long hours, and I inadvertently assumed the leadership role at home by making all the decisions necessary to run the household and care for my younger brother. At the time, there was no one to consult, so I made decisions on my own. While this certainly taught me self-reliance, when I began my career, I quickly learned that even the best leaders need to seek advice, and that it's OK to ask for help. Today, that insight serves me well, making me a collaborative team member and a confident leader.
GlobeSt.com: What advice would you give future female leaders who are pursuing careers in commercial real estate?
Croxton: Don't be intimidated by the stats. You are every bit as qualified and capable as your male counterpart. Don't be afraid to take risks and step outside your comfort zone. Find a niche within your business where you can excel, and make sure that niche is something that interests you. It's a lot easier to go to work every day when you enjoy what you do. And lastly, surround yourself with smart, hardworking individuals.
Tan: It's essential to stay true to yourself and not let the egos in this industry intimidate or change you. Embrace being a female in a male-dominated industry.
GlobeSt.com: As an organization committed to advancing opportunities for women, what are some other ways that CREW-OC is working to nurture and inspire the next generation of female leaders?
Croxton: CREW focuses on the next generation at all levels. From high school women, who benefit from a one-day introduction to industry jobs through the CREW Careers program to college-aged women who are eligible for scholarships and other beneficial programs through the CREW College Outreach program, the organization helps women professionally on both a local and national level. In addition, CREW-OC's Mentor Program is a way for those new or newer to the industry to be paired with a more seasoned professional in the chapter. This presents an excellent opportunity for a mentee to seek career advice outside of her workplace.
Tan: Being a member of CREW-OC has increased my business network and connected me with professionals I would not have met otherwise. Specifically, the organization's new mentorship program, which was launched this year, has been especially helpful to me. A mentor can have a tremendous impact on a mentee, but only if the mentee utilizes the mentorship to its fullest potential. I'm very fortunate to have been paired with Kristen, who continues to support my personal and professional development. Having a strong female advisor in this industry has encouraged me to take more risks and learn from her experiences. CREW-OC has also done an excellent job of hosting monthly and quarterly networking events with different organizations in the industry, as well as college outreach events through which CREW-OC provides scholarships to local real estate students.
GlobeSt.com: In Orange County specifically, where do you see commercial real estate in the next five to ten years?
Croxton: Orange County is much more diversified today than it was 10 years ago. We are much less dependent on the single-family mortgage industry, which allows for better stability in the market going forward. In addition, Orange County offers an excellent lifestyle, and is a great place to work and raise a family. The combination of these factors will continue to drive growth in the commercial real estate industry for many years to come. Women are poised to contribute in every imaginable way to this exciting growth.
Tan: Orange County's growth will continue. This market boasts a well-diversified economy, and it remains one of the most desirable locations in the nation based on its urbanization and thriving live/work/play environment. As a result, the market continues to attract a high-caliber young workforce that benefits from housing options that are less expensive than many major cities. CREW-OC plays an integral role in fostering and inspiring even more women to have a greater voice in the industry, ultimately driving Orange County's commercial real estate market to future success.
IRVINE, CA—It's essential to stay true to yourself and not let the egos in this industry intimidate or change you, Buchanan Street Partners' investment analyst Stephanie Tan tells GlobeSt.com. This was just one of the nuggets of advice Tan shared with us as we spoke exclusively with her and Kristen Croxton, commercial lending for
GlobeSt.com: Can you tell us a little about how your personal and professional background has prepared you for your leadership role within the commercial real estate industry?
Croxton: Playing team sports as a child helped prepare me for my leadership role in commercial real estate. From a young age, I was coached by people who were able to encourage me while helping me improve. When I entered the workforce, I sought out mentors with similar skills, a strategy that has helped to prepare me for every new challenge. Further, sports taught me early on the value of teamwork. Working together always created the best outcomes, and the same has been true in my career. By taking the time to find the right business partner and colleagues, I've been able to continue to grow our business.
Tan: My personal background prepared me for leadership in an unconventional way. Early in my life, my mother found herself in a position as the sole provider for our family. She worked many long hours, and I inadvertently assumed the leadership role at home by making all the decisions necessary to run the household and care for my younger brother. At the time, there was no one to consult, so I made decisions on my own. While this certainly taught me self-reliance, when I began my career, I quickly learned that even the best leaders need to seek advice, and that it's OK to ask for help. Today, that insight serves me well, making me a collaborative team member and a confident leader.
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