Pay It Forward: "Set A Goal, Have a Vision and Follow Through"
"You must learn from the past and challenge yourself to bring something different and better for future generations," says Masoud Shojaee, CEO of Shoma Group.
Masoud Shojaee, Shoma Group, Miami
Shojaee applies his vision and extensive knowledge of building high-quality developments in the diverse and growing South Florida real estate market.
Job Title: CEO and chairman of the board
Area of expertise or focus: Multifamily development, new condo development
What has been the biggest challenge in your particular role and how have you overcome those obstacles/? My biggest career challenge was navigating the 2008 real estate and economy downfall. During this time, I honed my ability to act quickly and boldly, which paid off. We were dealing directly with lenders, and they were working around the clock restructuring loans, and we needed to work with them and be patient. I had to be creative and learn how to play offense and defense. Looking back now, it was just a time-consuming phase of the business. The real estate market could become a game, and in a crisis, it is all about strategizing how to conquer it.
What about your role at the company are you most happy with? What brings me the most joy in my profession is the ability to support my team and improve daily. No day is like the other. Every day I come in with the vision to make it better than the last. I constantly review procedures, study the national and local markets, and question if I’m creating something memorable and meaningful for the community. Knowing that the people who live at our projects are happy is my true legacy.
What is the best piece of advice you have received that has helped you succeed in your industry? The best advice I received when starting my career was to find a role model in the industry, someone able to guide me while I learned the ins and outs. I would echo this advice for future generations. It is important to absorb as much as possible early on to create a team of like-minded honest professionals. From construction and design to financing and beyond, a strong team is what ensures success and growth. The more involved you get in the beginning, the more you will know, and the more power to be creative you will develop. You must truly desire to put a great team together.
Would you advise younger professionals to begin a career in CRE and how would you advise them to do to get a foothold in the industry? Yes, I advise them to begin a career in real estate, with a fair warning: you need many qualities to succeed professionally, but it is imperative to be strong-minded, hardworking, and creative in this business. You should only pursue it if you have these qualities or the motivation to acquire them. I learned throughout the years that the perfect project doesn’t exist because the market and customers’ needs are constantly changing and evolving. You must learn from the past and challenge yourself to bring something different and better for future generations.
Please share with us the best lessons learned or a surprising component of your unique journey. The best lesson I’ve learned is to pay attention to details and be wary of my mindset, as those two things will dictate success in this business. You need to motivate yourself daily to be unique. You will also need to be honest and care for your team members. I pride myself on the projects we deliver because I know we put together the best components with the best team. This knowledge is invaluable.
In your opinion, what takeaways did we learn from the COVID-19 crisis? The health crisis opened our eyes to many aspects we could improve in building and construction processes. It launched us on a hunt for innovation and made us rethink common areas and amenities concepts. In our projects, we implemented many ideas, such as creating more coworking spaces and the overall technology that goes into our buildings. For example, we wanted to have people avoid touching the elevator’s button and implemented a system that allows doors on the elevators to open up by itself.
What mantras would you use to describe your work mindset? I live by a set of mantras: set a goal, have a vision, and follow through to make the vision become a reality, and when you do, have a great attitude and be grateful.
