Here's how you can address burnout in the commercial real estate industry: finding support and resources.
In the fast-paced world of commercial real estate, burnout can creep up unnoticed, leaving you feeling exhausted and disenchanted with a career that once sparked your passion. It's a common challenge, but acknowledging it is the first step towards finding a solution. You're not alone in this struggle, and there are strategies you can employ to reignite your enthusiasm and maintain your well-being. This article will guide you through practical ways to address burnout, ensuring you have the support and resources necessary to thrive in this dynamic industry.
Recognizing the early signs of burnout is crucial in the commercial real estate industry. You might notice a persistent sense of fatigue, a dip in job performance, or a lack of enthusiasm for deals that used to excite you. It's important to listen to these signals your body and mind are sending. By acknowledging these symptoms early on, you can take proactive steps to prevent a full burnout. Start by reassessing your workload and identifying stressors that you can mitigate or delegate.
-
Commercial real estate burnout is real! To combat it, consider: Industry groups (NAR etc.) for support programs & resources (webinars, hotlines, peer groups). Therapists for stress management, coping skills & work-life balance. Online communities to connect with colleagues & share burnout tips. Books & articles by stress management/work-life balance experts. Finding support is key. By leveraging these resources, commercial real estate professionals can boost well-being and build sustainable careers.
-
Also pay attention how you do the work, the strategy is to mix it up at times, so it doesn't seem like you're the same thing over and over.
-
Expanding what you are doing to include some of the lesser considered aspects of CRE can also help. Are there marketing and branding considerations? Are you usually in building management, but you could switch to sales or lease ups? Keeping things interesting and your brain working on more than one or two aspects of whatever class you happen to be focused on can sometimes reinvigorate what can sometimes become mundane.
-
Discourage excessive long hours of work and offer flexible work environment and time off friendly. Foster an open communication environment with much emphasis on collaboration enhancement. Introduce employee wellness programs and host stand up meetings to talk about mental health and peace of mind. Keep short meditation breaks between work to enhance positivity across the team members. Keep a counselling session for employees to discuss their problems and traumas with the therapist to find meaningful solutions to their problems. Establish clear boundaries between work and personal life. Acknowledge the hard work and efforts of the employees and reward them with gifts or appreciations to boost their confidence.
-
One sign of burn out could be if you notice yourself procrastinating more than average or moving back appointments. As hard as it is to get away it may be just what the Doctor ordered.
One effective strategy to combat burnout is setting clear boundaries between work and personal life. In commercial real estate, the lines can often blur, with client needs and deal timelines pushing you to work odd hours. However, it's vital to carve out time for rest and activities that rejuvenate you. Communicate your availability to clients and colleagues, and be firm about your off-hours. Protecting your personal time will help you return to work with renewed energy and focus.
-
Take a moment to reflect on personal life experiences and work life. What you have done and what is your goal line. How close are you to it.
-
Set your personal time and focus on mindfulness and activities which motivate you to reenergise in the work space. Reading is also good practice.
Don't underestimate the power of support from colleagues, mentors, or industry peers. Commercial real estate professionals often face similar challenges and can offer valuable insights and coping strategies. Join industry associations or online forums where you can share experiences and advice. A mentor can also provide guidance and serve as a sounding board for your concerns. Remember, seeking support is a sign of strength, not weakness.
-
Ask co-workers to meet for a coffee. Find successful investors, brokers, and tax advisors. Follow those influential people and make kind and thoughtful comments to their contributions.
-
It is always useful to have support from industry peers, colleagues. An open mind to learn, accept challenges will help one to navigate easily. Teaching and mentoring is also helpful in sharing of knowledge mutually.
-
Valuable insight comes when you get to share your inner thoughts with other co-workers, that's when you get yo see your thoughts and ideas the same as others because like minds think alike.
Your physical and mental health are the foundation of your professional success in commercial real estate. Prioritize activities that bolster your well-being, such as regular exercise, a balanced diet, and sufficient sleep. Consider mindfulness or meditation practices to manage stress. When you take care of your body and mind, you'll find it easier to cope with the demands of your career and reduce the risk of burnout.
-
Managing stress through the ebbs and flows of the business are the key to success. Taking time to prioritize mental health by exercising, time with friends/family, time in nature are all things that help me. When deals are few and far between, putting yourself in motion, reaching out to others in the industry, meeting with existing clients, and working your network are all better options than waiting around for prospects and deals.
If burnout is significantly impacting your life, don't hesitate to seek professional help. Therapists or counselors specializing in occupational stress can provide tailored strategies to manage burnout. They can also help you develop coping mechanisms that align with your personal and professional goals. Remember, investing in your mental health is just as important as investing in your career development.
Lastly, engaging in continuous learning can reignite your passion for commercial real estate and help prevent burnout. Whether it's attending workshops, taking courses, or staying updated with industry trends, learning new aspects of your field can be invigorating. It provides a sense of progression and accomplishment that can counter feelings of stagnation. Always be on the lookout for opportunities to expand your knowledge and skills.
-
Always stay in the “learning game of life”, otherwise we plateau, get stagnant, and will be left behind by new technology and even networks as they switch up.
-
Absolutely, continuous learning is crucial in any profession, including commercial real estate. It not only helps in staying updated with industry trends but also stimulates personal and professional growth.
-
Seek out or create mentorship program for the below benefits if you are less experienced to lessen your stress leading to burnout: -Knowledge Transfer: Experienced professionals can share their insights, industry knowledge, and practical skills with less experienced colleagues. -Career Development: Mentees gain guidance on career progression, goal setting, and overcoming professional challenges. -Networking: Mentors can introduce mentees to key contacts, expanding their professional network. -Job Satisfaction: Mentorship can enhance job satisfaction and retention by fostering a supportive work environment. -Leadership Development: Mentors develop leadership and coaching skills, which can be beneficial for their own career advancement.
-
Mentoring younger or less experienced professionals is so rewarding, do it repeatedly and often! I have found that I learned more by helping others grow in their careers, than most anything else in my career.
-
Abhijeet Bose
Social Media Head
(edited)Organise, organise, organise. I believe this is the most important practice in any field and especially in commercial real estate. Once you get into the habbit of organising your work schedule and keeping notes, half of your work is done. Speaking from experience, one contact saved in an organised manner can turn into a brilliant lead in the future. When i was working in commercial real estate i made sure that every detail i can gather about properties are organised and saved in proper sheets so that in future I can use them easily when required.
Rate this article
More relevant reading
-
Information TechnologyWhat do you do if you're an IT professional experiencing burnout and need support?
-
Relationship BuildingWhat do you do if your career is leading to burnout?
-
Executive ManagementWhat do you do if burnout is taking a toll on your mental health as an executive manager?
-
Sales OperationsYou're feeling burnt out. How can you build a support system to help you recover?