Women of Influence: Advice From The Trenches
We Asked What Women Have Learned as they Continue to Make Inroads in Commercial Real Estate. Here are their Answers
That cartoon still is on the mind of Jennifer Carey, CEO of JLC Environmental Consultants, who is featured as one of this year’s Women of Influence.
“As people and as women, we need to boost our confidence,” she tells GlobeSt. Real Estate Forum, when talking about how to succeed in commercial real estate as a woman. That, she said, as well as always being prepared. In order for a woman to better position herself for success, she must be willing to use that preparation to take on challenges and risks that may be outside her comfort zone, she explains.
“Women tend to want to ‘check all the boxes’ before taking on opportunities for new assignments or challenges, while their male counterparts will jump in feet first and do a lot of on the job learning,” Carey says. “We are extremely knowledgeable, skilled, and sometimes we just have to take more chances and go for it.”
GETTING YOUR VOICE HEARD
It’s good advice, all the better because it was delivered from someone who’s been there and done that. To kick off our annual Women of Influence issue, we interviewed several women in commercial real estate, asking them for advice they might give a newcomer to the industry or perhaps even their younger selves. This is what we learned.
One of the biggest challenges once you do go for it is getting your voice heard, says Kristi Simmons, a principal at AQUILA Commercial. “Males tend to, by default, have louder voices, so you are always competing to get in what you need to say.”
Simmons encourages women to speak up at every meeting. “Make sure people understand that you are committed and dedicated to your organization or your client,” she says, adding that “speaking” can simply be “providing feedback via email when decisions are being made about your company.”
A woman’s perspective is important and women need to realize that, Simmons adds. “I make a point to speak up on every subject, in every meeting and respond to anything I receive about big company decisions. If you sit back and wait for others, you will always be overlooked.”
YOUR WORK PERSONA
And don’t get sidetracked by an inner voice that tells you that this is not your real personality. Meg Epstein, founder and CEO of CA South, says that women can better position themselves for success by being tougher, more honest, and by realizing that how they act at work doesn’t necessarily need to be the same as how they act socially. “I’m very to-the-point but kind, and both men and women respond well to positive and strong leadership. I don’t allow myself to come across in an uncertain fashion because it causes doubt in others. That’s just good leadership, regardless of whether you’re a man or woman.”
While many still regard being a woman in commercial real estate as a limitation, others view it as an advantage. Vicky Schiff, co-founder, managing partner and COO of Mosaic Real Credit, for one, notes that “Smart, experienced women stand out and we have the innate ability to listen, observe behavior and communicate well with our team, partners and counter-parties.” In addition, she says, doing so will help others open up more, which, she says, translates into strong business relationships and the ability to assess a situation with potentially more information.
THINK BIG, MAKE IT PERSONAL
When it comes to the best advice for the next generation of women in commercial real estate, Epstein says to think big. “Women should be tough, responsible and thoughtful leaders but not afraid to blaze forward despite the obstacles. You need to expand in the face of fear and not cower from it.”
Carey adds that every woman should think like an entrepreneur. “Whether you are high or low in the corporate hierarchy, finding solutions, creating opportunities and contributing to the company in ways that show you are ‘thinking like an owner’ will help you stand out and make you indispensable in the long run.”
Mindy Gronbeck, director of property management at Hawkins Cos., says what has helped her succeed in the industry is to treat every conversation personal and try to find a common ground to connect with the person.
“Sometimes it is as simple as the weather, other times it is whatever experience you may be going through but always start with a comment that opens up a personal conversation then talk business,” says Gronbeck. “In more times than naught I remember and am remembered by these ‘little’ conversations and not (through) the deal made.” MENTORS AND ADVOCATES
Having both a mentor as well as an advocate are also key, says Trisha Miller, executive managing director of Robert A. Stanger & Co. Inc. She tells GlobeSt. Real Estate Forum that mentors have served as a sounding board, helping her think through opportunities and challenges, providing a different perspective or helping to enhance or learn new skills. Advocates, on the other hand, have carried her flag and championed her cause for specific opportunities.
“I have benefited from the tremendous wisdom and assistance of several people in each category over my career but had only one person who was truly ardent in both categories,” she says. This person, she says, was her manager for nine years who pushed her beyond what she thought she was capable of. “He took the time to teach valuable lessons, and shared his experience and knowledge willingly and was the first to recognize my accomplishments and was also the one to call me out when I could have done something better.”
She continues that this individual was also “at times gentle and often quite hard on me. Once I said to him ‘the guys on the team think you are harder on me than you are on them’ and he responded with ‘that’s because you can take it and I know you will grow from it.’ He knew me well. This mentor and advocate had an immeasurable impact on my career as well as my life and we remain close to this day. He is still the one I turn to first when I need advice. My advice to women is…continuously seek mentors and advocates, both women and men, who can make a difference in your career and life.”
Women Leading in the Age of Covid-19
Covid-19 has tested and will continue to test the mettle of every leader in the CRE community right now. Another question we asked women in the community was what, in particular, can women bring to the table as the industry continues to grapple with this crisis? Here are excerpts from these discussions.
Christine Cavataio, president and COO of The Cuningham Group: During the COVID-19 pandemic and the recovery, we will be under major scrutiny based on how we lead and particularly how we treat our people. Being transparent, compassionate, and gracious while still doing what is needed to keep our businesses stable is critical.
Kristi Simmons, a principal at AQUILA Commercial: Tenants need help now more than ever. Being a good listener and problem solver is what our clients are needing right now. They want you to understand their pain points and help them to find ways to solve them. You have to look at prospects long term and not just go in expecting something every time. Being a resource to your clients without asking for anything is so important right now. Our company is working on content that is solely focused on what our clients/prospects need, which helps build long term relationships.
Mindy Gronbeck, director of property management at Hawkins Cos.: Compassion and even some mothering. A lot of these small tenants are just people that watched their dreams vanish overnight. They have no way to pay people, no income coming in, and no way to pay their bills. They are distraught and don’t know where to start. By giving them compassion and the understanding that we will get through the storm together is key. At the beginning of the Covid crisis, we held a lot of hands, talked many off a cliff and assured them that we will be there for them and help them through this. We did a lot of things that have never been in our job description, but in the end, I believe we will come out of it with many more tenants intact than if we had been strictly business and by the lease. We have had to look at every single call with a different lens and have had to adapt because everyone has had different circumstances.
Trisha Miller, executive managing director of Robert A. Stanger & Co. Inc.: Women are good listeners, will generally take into account multiple opinions and will research a situation thoroughly before making a decision, which is extremely valuable in a challenging situation like what we are experiencing today where hundreds of millions of dollars and corporate reputations may be at stake.
Holly Neber, CEO of AEI Consultants: Every leader, regardless of gender, should do their best to lead with authenticity right now. Transparency and communication are critical for helping teams get through the uncertainty, and leaders need to show up in a way that is true to themselves.