30 Commercial Brokerage Interview Questions & Answers
1. As a Commercial Broker, how do you stay abreast of the real estate happenings in your community?
How to Answer
It's essential to Company ABC that you keep up to date on what is happening in your community when it comes to real estate. As a Commercial Broker, it's vital that you know what your clients may be facing in the current market conditions. Be specific and talk to the interviewer about the resources that you lean on, to stay abreast on industry happenings.
1st Answer Example
"To stay up to date on what is happening in our city, in terms of commercial real estate, I subscribe to a few industry blogs, as well as a couple in the banking industry. My top resources are (A), (B), and (C). Of course, I also stay on top of market reports released by Company ABC as they are beneficial and robust."
2nd Answer Example
"I read a variety of commercial real estate publications such as Real Estate Magazine. I also read many articles and reports from Forbes, Deloitte, and NAIOP. If you have other resources that you recommend, I am all ears! I love to research, learn, and grow."
2. How do you go about nurturing relationships with business owners, landlords, and developers?
How to Answer
As a Commercial Broker, the relationships that you build can make or break your business. Your role is likely driven by commission, meaning that your healthy relationships are how you earn a paycheck. By developing and nurturing great relationships, you will gain repeat business, be offered valuable referrals, and build a fantastic reputation in your area. Discuss how you go about nurturing these crucial relationships. Try to be as specific as possible.
1st Answer Example
"I certainly appreciate the opportunities that come my way and know that I can only do as well as my network allows. To nurture relationships with business owners, landlords, and developers, I create and publish monthly market reports, sending them out to my email list. I will pop into local businesses to say hello and ask if I can help them in any way. I am a big advocate for small business. The entrepreneurs that I work with know that I give them a lot of word-of-mouth business. When my clients are successful, I am successful too."
2nd Answer Example
"I have a well-organized call list so any prospect or client from the past will hear from me by phone once every six weeks. I believe that this contact is important since most people rely on email or text messages these days. A more personal approach such as a phone call, or even an in-person pop in can make a significant difference when it comes to building and nurturing relationships."
3. How well do you know the community dynamics and demographics in your region? Why is this an essential factor for a Commercial Broker?
How to Answer
A large part of your success as a Commercial Broker will be directly associated with how well you know your market. When you are on top of your market and understand the commercial real estate needs and issues in your region, you can then act more quickly and provide your clients with the knowledge they need to make timely and lucrative decisions.
Discuss how well you know your community dynamics by talking about how many years you have worked in the area, how you conduct your research or other tactics that you utilize to remain in-the-know. Be sure to address why you believe this knowledge is pertinent to your success as a Commercial Broker.
1st Answer Example
"My knowledge of our city is advanced. I was born and raised here, spending most of my life living and working in the downtown region. This community knowledge has helped me in many ways, including my ability to learn about changes and movement in real estate faster than many other brokers in the area. I have a reliable network of local business owners, landlords, and developers who know my name simply from my exposure and tenure in the community."
2nd Answer Example
"I believe it's essential for me, as a Commercial Broker, to have a thumb on the beat of my community at all times. Community knowledge is the power I need to make suitable recommendations to my clients. I read market reports from other brokers, demographic reports released by various councils, and continually keep in touch with news stories and events that are impacting all parts of our city, and surrounding area."
4. Company ABC is seeking a Commercial Broker with education in business, finance, economics, or other related coursework. Please walk me through your schooling.
How to Answer
The interviewer would like further detail on your education. Be sure to provide information that is not available on your resume. You could talk about your best classes, your favorite coursework, any student councils you were on, awards or accolades, and scholarships earned.
While attending post-secondary studies, you likely learned some core skills that would be transferable to your role as a Commercial Broker. Think about what you learned at your highest levels of education and how that knowledge applies to your work.
Whichever direction you choose to go with your response, be sure to tie your answer in with the ways that this educational experience will benefit you as a Commercial Broker.
1st Answer Example
"I have a Bachelors Degree in Management with a major in Marketing. I went to University ABC on a full scholarship and graduated top of my class. My passion for economics, as well as quantitative analysis, really came to life while earning this degree. Since graduating, I have been able to utilize my education in a multitude of ways, not only in terms of my business knowledge but also by utilizing new soft skills such as time-management and project planning."
2nd Answer Example
"I recently completed my MBA, after taking online coursework in the evenings and weekends for the past two years. I am proud of this accomplishment since I worked in tandem with this coursework, and still graduated top of my class. I am eager to apply my new skills and knowledge to this Commercial Broker role. When it comes to consulting and strategy, I now a complete idea of how to elicit information from others and synthesize that information into a cohesive story. I have a better ability to see the big picture and gained more creative and conceptual ways of thinking."
5. Company ABC prefers to see at least two years of residential real estate experience before moving our team members into Commercial Broker roles. Walk me through your experience as a residential real estate agent.
How to Answer
The interviewer wants to know that you have earned your place as a Commercial Broker by first cutting your teeth in the industry through the residential real estate route. Most Commercial Brokers will first work for a few years in the residential space, learning about the industry before taking on commercial responsibilities. In some states, prior residential real estate experience is a requirement before you can earn your commercial license.
Since this question is open-ended, be sure to keep a well-organized answer that is brief. The interviewer is not asking for a career autobiography; rather, some important career highlights that will make you stand out from other candidates. For this reason, be sure to include some of your most significant career wins as a residential real estate agent.
1st Answer Example
"Before entering my first Commercial Broker role, I worked as a residential real estate agent for ten years. I won many awards such as Top Agent, Top Producer of the Year, the Million Dollar Club Award, and a President's Club award. I had earned my way to the top, and although I loved the success, I wanted a new challenge. After these achievements, I decided to try my hand in the commercial side of the business and haven't looked back since."
2nd Answer Example
"I began working residential real estate two years ago and experienced great results shortly into my career, entering my agencies' President's Club after just year one. I have put a strong focus on cold calling as well as more modern marketing efforts, which have paid off significantly. Now, I am ready to add commercial real estate to my portfolio."
6. Do you hold a CCIM (Certified Commercial Investment Member) designation? If so, when did you obtain this certification? If not, why have you not pursued this step?
How to Answer
A CCIM (Certified Commercial Investment Member) designation tells others that you are a knowledgable professional in the commercial real estate sector. The designation process ensures that Commercial Brokers are knowledgable in a variety of related topics, including financial analysis, market analysis, negotiations, decision analysis, investments, and ethics.
If you hold a CCIM designation, give some details as to when you obtained this certification, and why it's important to you. If you do not have a CCIM designation, be sure to show that you are open to the idea.
1st Answer Example
"I have been CCIM designated since 2017, and scored 92% on the exam. I have been in good standing with the CCIM for over ten years. I believe this designation to be critical to my brokerage career because of the recognition it gives me in the commercial real estate industry. Also, my membership allows me access to a significant network of other real estate professionals across the country."
2nd Answer Example
"Although I have not yet gained my CCIM designation, I do have plans to take the exam when I meet the minimum requirements, including working in the commercial real estate industry for at least two years. Being offered this Commercial Broker role with Company ABC is an excellent start."
7. What do you know about the CCIM Institute and the role it plays in your Commercial Brokerage career?
How to Answer
The CCIM Institute is one of the most recognized commercial real estate professional organization. They have been around since 1967 and are an excellent resource of learning and education for aspiring and seasoned real estate professionals. The interviewer would like to know how familiar you are with the CCIM Institute, what your involvement has been with the organization. Keep your response positive and give some detail that goes beyond basic stats about the institute.
1st Answer Example
"The CCIM Institute has helped me develop my career as a Commercial Broker, a great deal. I have taken coursework through the CCIM, including 'Financial Analysis for Commercial Investment Real Estate,' 'Evaluating Retail Development Projects,' and Market Analysis for Commercial Investment Real Estate.' I believe the CCIM to be an incredibly important factor in the development of commercial real estate agents, and a valuable upholder of ethics and values for our industry."
2nd Answer Example
"I recently applied for CCIM membership after moving to this state. I aim to be a recognized leader in the commercial real estate industry and believe that this membership is an essential first step. I understand that the CCIM offers membership to not only Commercial Brokers, but also leasing professionals, asset managers, appraisers, property managers, developers, attorneys, and more. I am eager to become part of the extensive CCIM network."
8. Commercial Brokers spend a lot of time negotiating the best possible outcomes for their clients. How would you describe your negotiation skills?
How to Answer
Commercial real estate requires a lot of negotiating when it comes to contract inclusions and financial matters. The interviewer would like to see that you have the chops needed to make it in this fierce industry where every number and contract detail matters.
Sometimes, in real estate, parties are often stuck making concessions and demands on a single issue, such as price. How do you ensure that both parties get what they want?
1st Answer Example
"I would describe my negotiation skills as competitive yet friendly. I never underestimate the importance of starting a negotiation off right, with a friendly introductory phone call or a sentence or two that creates common ground. Research shows that you and your counterpart are more likely to reach an agreement if you spend a short amount of time getting to know each other."
2nd Answer Example
"I am newer to my career and, although a confident negotiator, I believe in the importance of perfecting a variety of negotiation styles. At times, I take a collaborative approach where other times I take the approach of searching for smart tradeoffs, or other times, presenting multiple equivalent simultaneous offers. MESOs is a style that I learned through a Harvard online course that I recently completed. It's been beneficial when closing deals for my clients."
9. Coming from a clients' perspective, what are the most significant benefits of hiring a Commercial Broker?
How to Answer
There are many benefits of hiring a Commercial Broker, and the hiring authority at Company ABC wants to make sure that you wholeheartedly believe in the services you will be offering their clients!
Some of the benefits that you could mention include the fact that brokers are incentivized to help their clients since they work on commission! They are experts on the market since it's their full-time job to know what the market is doing in their region. Other benefits include faster turn-around time on property acquisition and the fact that you will only see the best properties that suit your needs. Also, the negotiation skills of a Commercial Broker can save a customer thousands of dollars!
Talk to the interviewer about what you believe to be the most significant benefits of hiring someone like you.
1st Answer Example
"From a clients' perspective, and the most important value-add that I hear most often from my clients, is the fact that hiring a Commercial Broker helps them to cut through the noise, get their project underway, and finalize deals in the fastest way possible. We can take on the research, and perform effective negotiations on a busy business owners' behalf. That gift of time and financial savings is priceless."
2nd Answer Example
"The benefits of hiring a Commercial Broker include the fact that buyers get professional advice from industry trained people on the best properties to buy, what the real estate marketing is doing at the moment, and what a fair price is to pay for a commercial property. My clients most appreciate the fact that they can continue to focus on their business while their real estate project comes to life."
10. What do you know about the services offered by Company ABC?
How to Answer
The hiring authority at Company ABC wants to know that you have performed research on their organization before coming to your interview. Be sure to check out their website, LinkedIn company page, and do a Google search to get a full scope of what they do. Often, online customer reviews can be a helpful resource. Remain positive, showing your excitement to join Company ABC and their menu of professional services.
1st Answer Example
"From the research, I conducted before coming here today, I understand that your top services include real estate development services, leasing, capital markets, and commercial investment management services. I am most skilled in commercial investment management services and look forward to contributing to your esteemed team."
2nd Answer Example
"I am very familiar with Company ABC and know that your top services include lease space searches, property and portfolio management, and real estate investment opportunities. I am eager to learn more by joining your team and becoming a vocal advocate for the Company ABC brand."
11. Company ABC uses technology tools for business development and client service purposes. With which tech tools are you most familiar?
How to Answer
Any real estate agent, whether on the commercial or residential side, knows the importance of using a CRM to keep track of clients and sales pipelines. You likely use other tools in the form of apps on your phone and tablet, to help you succeed in your job.
Popular tools used by a Commercial Broker include a CRM like Salesforce, an email integration tool like MailChimp, a document-generation tool such as DocuSign, and lease comparable databases such as CompStak.
Discuss which tools you are most experienced in by naming them and mentioning your level of expertise. You can rate your skill level as beginner, intermediate, advanced, or expert. Alternately, you can rate your skills on a 1-10 scale.
1st Answer Example
"The tools that I use every day, many from my phone, include DocuSign, MailChimp, CompStak, and Salesforce. I am an advanced user in SalesForce and lean on it for many factors of my sales process, including lead nurturing, creating a cold calling pipeline, and follow-up prompts. These tools have helped me immensely when it comes to building my business as a Commercial Broker."
2nd Answer Example
"I am most familiar with Salesforce, having taken several levels of their online training, including their Prosell Training. I consider myself an expert level user in Salesforce CRM. As far as other tools, I have some basic familiarity with a couple of email integration programs such as MailChimp and Sendlane. Could you share with me the tools used by your brokers at Company ABC? I would be happy to get a head start on my learning."
12. How do you feel about cold calling? Walk me through your cold calling training and experience.
How to Answer
Commercial Brokers lean on a lot of cold calling activities, especially when they are beginning their career. The interviewer wants to know that you will do what it takes to earn new business for Company ABC and your professional portfolio. Discuss your cold calling activities in the past, including how experienced and comfortable you are making cold calls. Second, be sure to mention any training you have received in the art of the cold call.
1st Answer Example
"What I know and love about cold calling I attribute to the Dale Carnegie training that I attended earlier in my career. I took, 'How to Cold Call and Build New Customers,' a course that gave me more than just the basics when it comes to cold calling, pre-sale activities, and building long-term, positive relationships with clients. Today, I conduct around 100 cold calls per week with a stable 10% conversion rate."
2nd Answer Example
"I had to learn to love cold calling since I was intimidated by the idea, in my earlier career. I did some research and came up with a success formula for cold calling. The steps include first being familiar with the company's unique selling point. Second, identifying the decision maker before my call. Next, learning as much as I can about that person and the company before ever making the call. Once I am comfortable in my knowledge level and research, I ask myself how I can add value to their current situation. My answer to that question is the value proposition that I bring when they pick up the phone. At first, I used a script; however, now, I have the confidence in myself to speak on the fly, leaning on my research and expertise as a Commercial Broker."
13. Do you have experience creating business proposals, property summary books, and new business presentations?
How to Answer
A Commercial Broker will work very hard to keep up to date on what is happening in their local market. This knowledge can then go into property summaries, business proposals, and client presentations, to showcase facts, stats, history, and other vital pieces of information that most business owners want and need before making a significant investment decision.
Talk to the interviewer about your experience creating these types of materials. If you are newer to your career, you may not take the reins on a project like this, but perhaps you support senior brokers in your office as they build these materials. Whatever your experience level be sure to show the interviewer that you understand the importance of these business materials.
1st Answer Example
"I bring many years' experience in creating business proposals and property summary books. As a team leader in my current office, I also train other junior brokers on how to gather the information needed for these types of client materials. As far as business presentations, I build at least two new presentations in PowerPoint every week and am very comfortable doing so."
2nd Answer Example
"As a junior broker, I do have experience building business presentations alongside more senior brokers. I have received some mentorship and training when it comes to building proposals and market summaries; however, I am not yet in the position to build these entirely on my own. I am learning, however, and becoming better every week."
14. The top Commercial Brokers at Company ABC are highly competitive with themselves. What challenges are you looking for in a position?
How to Answer
The interviewer would like to know that you see this position as a challenging next step in your career. Company ABC wants to know that you are never complacent and that you like to set goals for yourself, remaining competitive against your own best performance. Make sure that you are familiar with the company job posting, allowing you to discuss the challenges present in this role.
1st Answer Example
"I am looking for a position where I can better exercise what I learned while earning my CCIM designation. My current position has simpler real estate opportunities, a lot in residential and fewer in commercial, and so I seek to join an organization like Company ABC where I can be part of more complex commercial real estate projects."
2nd Answer Example
"I have worked as an independent broker for many years and seek the challenge that comes from working for a larger agency like Company ABC with enterprise level clients. Your company has been on my radar for quite some time, and I would be thrilled to join your experienced team of Commercial Broker."
15. Company ABC keeps a close eye on Commercial Broker targets and wins. What type of goals did you set for yourself this year?
How to Answer
Some of the targets and goals that a Commercial Broker might be looking out for include number of clients, number of exclusive listings, amount of commission per transaction, new meetings booked, cold calls completed, number of referrals, and presentations made.
Of course, these goals may differ depending on your seniority and the brokerages for which you have worked. Discuss with the interviewer the type of goals you have set for yourself, and if you have met or exceeded these goals.
1st Answer Example
"Goal setting has been a significant factor in my success as a Commercial Broker over the past eight years. I set goals every year and revisit them each quarter. So far this year, I have exceeded my goal of making 50 cold calls per week; averaging 62 at the moment. I also set the goal of 5 new meetings booked per week, a 10% cold call conversion. At this point, I have converted 14% of my cold calls."
2nd Answer Example
"I appreciate that Company ABC is keen on numbers, targets, and goal setting. I am highly analytical by nature and have made a habit of reviewing my numbers every week, month, and quarter. Right now, as I build my business, the numbers that I keep the strongest eye on are new clients acquired, new meetings booked, and presentations made. I have landed sixteen new clients this year so far, and have many more good prospects on the go. The key for me is never taking my foot off the gas when it comes to lead generation and cold calling activities."
16. What is the most important trait a Commercial Broker should possess?
How to Answer
The interviewer at Company ABC knows that you will probably answer this question with traits that you see in yourself! Think of a unique characteristic that you believe all Commercial Brokers should have. Be sure to go beyond the surface and avoid saying things like, 'people-person,' for instance. Dig a bit deeper. Some examples of essential traits may be:
- Curious
- Achievement driven
- Strong sense of duty
- Dominant
- Ability to handle emotional disappointments
1st Answer Example
"In all of my years in real estate, and primarily as a Commercial Broker, the one common trait that I have seen between myself and my successful colleagues is an air of dominance. I am not talking about a dominance that is off-putting, but a dominance that is authoritative and leads the client to the right decision while managing negotiations in a way that makes all stakeholders feel confident and comfortable."
2nd Answer Example
"In my opinion, one trait that every Commercial Broker should have is the ability to handle the emotional ups and downs that come their way. In any given day, a sales professional will have a few wins, and then a few losses. It's important to be able to navigate disappointment, without it affecting your mood or future performance."
17. Tell me how you developed and nurtured your largest existing client.
How to Answer
The interviewer wants to know how you took a new lead and grew it into your most lucrative account. Often, the most significant client accounts are the ones we nurture the most, so it's essential that you can walk the interviewer through your process of finding a new prospect, gaining their business, and continuing to win new business or referrals from that relationship. Share a success story about how you've done this in the past.
1st Answer Example
"In my current position, I developed my largest existing account by visiting their office regularly to give market reports from their region and the surrounding 3 miles. Showing that I was keen, and prepared to service their company with a great sense of attention and local knowledge, was what they wanted to hear. The company went from renting their commercial spaces to buying their first location in just six months of meeting me. I continue to grow this account by offering important knowledge and always delivering the best commercial real estate opportunities to them first."
2nd Answer Example
"With my larger accounts, the success has all come down to building relationships through offering market overviews and leasing reports regularly, without being prompted. Excellent customer service skills and personalized touches help, as well. With my largest client account, I am sure to remember their kids' names, birthdays, and congratulate them on company milestones."
18. Would you cold call every day for a year if it meant you had a steady client list afterward?
How to Answer
The interviewer is looking to see if you'll put in the long hours of grunt work to reap the rewards of a stable pipeline of business. People often focus on the wins of sales when talking about their career. For instance, they focus on the commission or the closing of a big account, but they will gloss over the hours and years of work it took to get to that point.
It's vital that you show you know you're not going to 'phone it in' and have your career, customers, and commissions handed to you without a lot of sweat and hard work. With that said, answer honestly. Put your spin on it. Don't say, 'Yes, of course.' Give it some thought and make the answer truthful and accurate to you.
1st Answer Example
"I am more than willing to put in time and sweat equity into building my book of business via cold calling; however, I would hope that my years of experience in client development and closing of large accounts would give me some additional latitude. I am fully prepared to roll up my sleeves and make many cold calls as well."
2nd Answer Example
"I love being on the phone, connecting with people, and teaching them all the ways that my knowledge as a Commercial Broker can help them. I can't expect success to be handed to me overnight. So, yes, I'd be willing to cold call for a year to catapult my career. An upfront investment in the long-term health of my career is something I can get behind."
19. Tell me about a time you faced rejection in the real estate industry. How did you handle it?
How to Answer
Real estate sales positions are full of rejection, so the interviewer wants to know that you've faced rejection in the past and have overcome it. Share an example of a denial you've faced and how you overcame it. Choose a case that has a positive outcome and shows that you learned from the situation and bounced back quickly.
If this is your first real estate position, share a relevant experience from your post-secondary experience, a volunteer role, or your athletics career. Perhaps you didn't get into your first choice university or make the soccer team. Whatever it is, show how you took the rejection in stride, learned, and moved on with gusto. Pivot back to how this life experience has taught you something and try to connect it very clear to your potential new sales role.
1st Answer Example
"I was far along in a sales cycle with a potentially huge customer who had shown a ton of interest. I'd even flown out to see them for what was one of the final sales presentations with all stakeholders. They'd known the pricing and acted as though this was a formality before they bought. Well, then they went dark. I literally could not get anyone on the phone or via email. It was a devastating experience. It would have been a huge commission, a massive amount of recurring revenue for the company, and a landmark account. It took about a week to wrap my head around it and then I doubled down and was determined to find a new, bigger account to land. And, while the sales cycle took more than three months, I finally did it. It's all part of the gig with real estate, and it still stings when that happens, but I know to take it in stride and go find another bigger, better account next time."
2nd Answer Example
"I initially applied to the College of Business at ABC University and did not get in. It was my dream school and the first step in my life plan, so it was a blow to be rejected. I took a day or two to mourn the loss of that dream and then figured out a plan B that would still get me where I wanted to be. I decided to go to a local college for a year to get some credits done and got a 4.0. I reapplied to ABC Business the following year and got in, with a scholarship. This situation taught me that I might get knocked down, but will always get back up - and usually, there's a lesson to be learned from it. Now I still have a plan B and am ready to be agile whenever a roadblock appears. I think this type of agility and determination has prepared me for a successful career in real estate."
20. Company ABC looks for team members with creative energy. Would you consider yourself a creative person?
How to Answer
Real estate requires creative approaches to selling, marketing, and client relationships. Talk to the interviewer about any interest that you have in creative activities and how you have implemented your creative desires as a Commercial Broker. Even if you do not consider yourself to be a 'creative person,' there is a significant chance that you have made creative minded decisions in your career. Think of a time when you thought outside of the box!
1st Answer Example
"I am creative in the sense that I am great at seeing all sides of a negotiation, allowing me to be creative in my communication and sales approach. I can use creativity to close a deal, and I am a solid writer when it comes to business presentations and marketing materials. With that said, give me a paintbrush, and I will have no idea what to do. I suppose creativity comes in all forms!"
2nd Answer Example
"I am someone who alternates between the right and left sides of the brain, but I will always consider myself a very creative person. I admire the creativity and unconventional thinking required in the real estate business."
21. Company ABC often asks our Commercial Brokers to work as part of a team. Tell me about a contribution you made to the last team you worked on.
How to Answer
As a Commercial Broker for Company ABC, you may be asked to participate in client meetings and presentations or work with senior brokers to develop follow-up materials for clients such as lease comparisons and market overviews. Often, you will need to coordinate information with other departments and brokers. It's time to show the interviewer that you are a team player. Talk about a time that you were expected to achieve a goal in a team setting. Discuss the role that you took on, and how you went above and beyond to ensure that your contribution made a difference.
1st Answer Example
"My most notable contribution was my ability to analyze and predict market trends, and then create a successful marketing strategy for a challenging piece of commercial real estate that nobody else wanted to tackle. As a Commercial Broker, significant growth can come from taking on projects that may seem undesirable and completely knocking them out of the park. This initiative showed my team that it's worthwhile to exit your comfort zone."
2nd Answer Example
"In my pod, I am the only one with education in finance so I have made it my mission to create educational materials for the rest of the pod so they can feel more comfortable when presenting numbers to developers and commercial real estate investors. Having this information helps them feel more confident and natural when they are making their pitches to prospective clients. I was not asked to do this, but I knew it would benefit everyone and the agency as a whole if we portray ourselves most professionally."
22. How do you react in the face of failure? For instance, when you lose a client or a significant deal falls through?
How to Answer
Many Commercial Brokers earn money based on commission, which means that losing a client, or a prominent real estate deal, can be extra painful when it happens. The interviewer would like to know how you react when it comes to significant setbacks. Everyone handles stress and disappointment differently, but it's vital that you show the interviewer your ability to pick yourself back up and try again. Point out how your setbacks do not affect others in your office, and that any losses you face fuel you to work harder next time.
1st Answer Example
"I am an internally competitive person by nature, and thus, I look inward when a setback occurs at work. I become internally frustrated when my goal fails, or a perceived 'done deal' falls through. It's important to me that I do not let my emotions around these setbacks impact my coworkers. When situations like this occur, I will go through a mental rundown of what I could have done differently. It can certainly be emotionally taxing, but I also learn a ton from processing these mistakes."
2nd Answer Example
"Setbacks can be trying, but I have to learn how to lose before I can learn how to win. While I never enjoy a setback, I use them as a stepping off point to something even better."
23. At Company ABC you will be interacting with clients of all types and personalities. How would you build a relationship with someone who intimidates you?
How to Answer
Commercial Brokers work alongside other brokers, realtors, developers, business owners, and other decision makers; all with their own approach and personality! When working in the real estate industry, stakes are high, and personalities are big.
We have all been in a situation where we find a co-worker, a boss, or a client a touch intimidating. Show the interviewer that you have the smarts, and maturity, to recognize when this is happening, and the ability to overcome whatever factor is causing those feelings.
1st Answer Example
"As a Commercial Broker, I often have to give presentations and pitches to groups of decision makers, who can be quite intimidating. I stand tall and remind myself to be proud of my work, no matter what they may say or think. By doing this, I am oozing confidence, and the situation becomes so much easier. Also, I recently read about 'mirror neurons' in the brain. These neurons mean that people respond with similar facial expressions and demeanor so, if you are friendly and approachable, others are more likely to be as well."
2nd Answer Example
"I have a great method that I learned in sales training, earlier in my career. This method is beneficial when I have to make cold calls or have a challenging conversation with an existing client coming up. The trick is to practice, out loud, with someone else. Have that person throw possible objections out and then try to overcome them. Once I have had this conversation a few times in practice, it becomes much easier in a real-life situation."
24. If hired, what can Company ABC do to help you achieve your career goals?
How to Answer
If Company ABC asks you this question, you should be jumping up and down with excitement! As many organizations turn away from the hierarchical organizational structure and lean more toward a flat organizational structure, you will begin to see companies show more concern for the growth and development of their employees. Jackpot!
Be prepared to discuss how you like to be motivated, what you may need in your compensation package or even the type of workplace environment you know you need to be successful. You can also discuss learning opportunities, or continued education options, that are piquing your interest.
1st Answer Example
"I read on the Company ABC website that you offer continuing education opportunities for your brokers who are performing well. This offering is the best way that you could support my career goals. I am a major proponent of continued education opportunities and professional development, and I am pleased to see that Company ABC is as well."
2nd Answer Example
"Thank you for asking! I am seeking to join an organization with a solid succession plan for each position within their company. When I have a clear understanding of where my role can take me, I can better plan for the future and take more direct and successful steps. Could you share with me what Company ABC has in place for broker development and future growth?"
25. Commercial Brokers often need to give formal presentations to prospective and existing clients. Tell me about your experiences giving high-stakes presentations.
How to Answer
The fear of public speaking is the #1 phobia we have, as humans. It comes ahead of the fear of death and the fear of spiders! It is okay to find public speaking a bit intimidating but do assure the interviewer that you are capable of communicating well in front of large groups.
Have you taken any courses or training in public speaking? Perhaps you have so much experience that it comes second nature. Either way, assure the interviewer that you are capable of giving high-stakes presentations without choking. If you have given presentations, you can also mention the topic, what the setting was, and to how many people you presented.
1st Answer Example
"High-stakes presentations to groups of decision-makers is a big part of being a Commercial Broker. I am prepared to successfully roll out important communications to my existing and prospective clients. I have experience preparing pitch decks that are engaging and thorough. I utilize different techniques, such as graphs and charts, to make presentations fun, interesting, and engaging."
2nd Answer Example
"I do not have a lot of experience in presenting to large groups; however, I have spoken to small groups of clients, perhaps, 4 to 6 people at most. To strengthen my communication and public speaking skills, I joined Toastmasters last year. I am now a confident public speaker and am sure that I could present in front of many people.
26. How will you complement Company ABC, if you were hired?
How to Answer
Company ABC has an excellent reputation, faithful clients, and a robust team of talented brokers. Now, they want to know how you will make an impact on their organization if hired. If you landed the position, what would you bring to their company that would be positive and unique? Assure the interviewer that you are the right fit for this position. If you have a 90-day plan in mind, come prepared to share that with the interviewer.
1st Answer Example
"I have already crafted a 30, 60, and 90-day plan to exceed my training expectations and targets. The plan includes doubling up on my cold calls and making more in-person client visits than expected. I want to knock this out of the park right away and become a top broker at Company ABC within five years."
2nd Answer Example
"If you hire me, I will compliment your organization in a few significant ways. First - I am a fast learner, and I already bring six years' experience in the real estate industry, reducing my training period. Also, I will bring a robust portfolio of clients with me, which will make a financial impact almost immediately."
27. Commercial Brokers at Company ABC encounter challenging situations every day. Do you consider yourself a patient person in the face of a challenge?
How to Answer
The interviewer would like to know if you consider yourself a patient individual, in the face of significant challenges. An attitude of impatience can cause a lot of stress and anxiety in your coworkers and clients, so it is essential that you can showcase your ability to remain patient and professional in workplace situations.
Patience is indeed a virtue but can be challenging to maintain when it seems that situations continue to push your buttons. Show the interviewer that you possess the ability to keep your cool in challenging conditions.
1st Answer Example
"As an experienced Commercial Broker, I certainly understand that challenges will come my way daily. I am patient in the face of a challenge, but I would say this patience is more of a learned skill than something innate. I have worked to become more patient and not demonstrate frustration in the workplace. I know when challenging situations push me, it's counterproductive, so I remind myself of that. I know when I'm running out of patience and am proactive asking for some time to regroup as appropriate."
2nd Answer Example
"I do consider myself a patient person. I would rate myself an 8/10 for patience because I certainly have room to grow, but I do have a very long fuse. If I need a patience boost in a challenging situation, I will take a step away, and return to the situation when I feel ready. I recently read, 'The Power of Patience' by M.J. Ryan, which gave me some excellent new methods for coping with stress."
28. Our clients mean everything to us at Company ABC.How do you define exceptional client service?
How to Answer
Company ABC needs to be careful in who they hire, ensuring that their standards of excellence are continually met. Excellent client service goes beyond doing precisely as your expected, and it's more than having a smile on your face when the client is looking. Superior service means that you actively seek out the opportunity to deliver more than the standard broker would. It means thoroughly listening to your clients when they tell you what they need. Also, it means offering support when your client may be in a little bit over their head.
1st Answer Example
"Repeat business and referrals are what I am after when it comes to the satisfaction of my clients. When it is time to close out an account, I openly ask them what I could do better next time. This added step helps me to improve my service. Good customer service starts with the ability to take and implement feedback."
2nd Answer Example
"I define good customer service by not allowing any 'traffic jams' in the real estate sales cycle, which is a challenge to do! The moment a client feels there is a hiccup, the moment the sales process gets railroaded. Excellent service includes seeing potential pain points before they even happen."
29. Give me an example of a time when you had to be extra diligent to meet a deadline.
How to Answer
When working for an esteemed brokerage like Company ABC, it is essential that you deliver their standards of excellence in everything that you do. The interviewer would like to know that you are a diligent individual when it comes to deadlines and respecting the needs of your clients. Are you determined to complete your tasks on time, or do you frequently drop the ball? Talk to the interviewer about your ability to act diligently on the job.
1st Answer Example
"Working in commercial real estate is always about last minute changes and tight deadlines! Recently I worked until 4 AM to deliver an updated proposal for a very particular client. You do what you have to, to make your clients happy. I am not afraid of hard work."
2nd Answer Example
"Last month, I had a client who made a lot of additional and last minute changes to our project. Despite the changes, our deadline remained the same. Our senior broker was becoming stressed that we would not meet our deadline for the market analysis presentation, so I agreed to stay late three nights that week to ensure that we met all expectations."
30. What would your most recent boss say about you if they were asked to describe your character?
How to Answer
Company ABC wants to ensure that you are a fit for their company culture and that you will get along well with their other team members. Think of some words that best describe your work ethic and character. Be sure to include descriptive words that will ensure you are a standout candidate. Most people, when asked this question, will say they are 'reliable' and 'easy to get along with.' A more thoughtful and unique answer to this question will give you a better chance of impressing the interviewer. For instance, you could say that you are:
- Attentive
- Committed
- Persistent
- Motivated
- Tenacious
1st Answer Example
"I believe my most recent boss would describe me as persistent, goal-oriented, not afraid to push the envelope, and always wanting more. Also, I think he would add that I am always up for a professional challenge."
2nd Answer Example
"My character is important, and I am proud of the reputation that I have developed over the years. When you call my boss for a reference, I believe she will say that I am tenacious, motivated, and led by numbers and data."