I own and manage my own commercial real estate brokerage firm, Prospect Properties, located in Palo Alto, California. As a managing broker, I mentor the agents in my company and review their transactions. My expertise is in using statistical, analytical, and risk methodologies to match our clients with properties and to support the tough negotiations that are routinely part of our transactions.

EDUCATION | I have more education than most brokers. I have a Bachelor's degree from Vassar, major in Math and minored in English. I attended UC-Berkley and earned an MA and PHD in Math. I have a professional license in mechanical engineering through the state of California. I'm comfortable working with agents who have MBA or law degrees, as well as some very good agents who never went to college. That said, it is generally true that the more formal education an agent has, the more work options available.

HOW TO GET STARTED | You need to have a cash reserve to start, because you don't make much money in the beginning unless you decide to go into property management. There are times when you're going to work hundreds of hours on a project and not make a dime. From the outside, it looks like commercial brokers make a lot of money, but we know there's a lot of work involved. The more tools you have, the better you can work. So, take courses in writing, speaking, computer applications, business, and other specialties that address your specific real estate interests-- and never stop learning!

MUST HAVE TRAITS | You need to be a really good communicator, and you have to be able to construct analytical models and work with statistics. You need to know and understand various financial concepts like present and future value. Working on long-term investments requires persistence and perseverance. Because of the heavy human interaction, you have to learn not to take things personally.

how I got started | I come from four generations of real estate investors and professionals. My immigrant great grandfather owned and operated a small store south of Market Street in San Francisco. My siblings are real estate broker-owners, developers, and syndicators. When I decided to get into real estate, I did a home study course to get certified. Then I had to pass the broker exam, which is a tough exam with a low pass rate. The Brokerage exam covers ethics and the subtleties in our business. Memorizing answers won't get you through. Hence, a "Broker" title means something more than an agent license. Credentials are particularly important in challenging economic times, when consumers tend to be very cautious in selecting financial advisors.

why this job?| My husband lost his job and filed for divorce after 9/11, so I had to think carefully about what I could do to support my family. I had a little building that I leased, and it was doing very well. I realized that what I needed to do was to go into brokerage and try to do the same thing for other people. I value the flexibility and variety that comes with the job and that allows me to be with my kids when they need me. I manage my own time and work on projects that challenge me.

why I love this job!| I love building long term relationships with my clients. Given that the stakes are so very high, commercial real estate transactions can take years to complete. As a research mathematician, I worked very hard on problems that took months of effort to solve-- so this job works for me. I enjoy helping people who are starting their own small businesses-- businesses that make our country great. I work with different clients, cities, and properties. I particularly enjoy working with developers, who tend to be highly educated and have complicated transactions which draw on various skills and knowledge. In commercial real estate-- as opposed to residential real estate-- matching properties and clients is about 10% of the job; the hard part is assessing the potential risks and benefits and then negotiating the best possible outcome for the client.

my typical day| There are no typical days. Commercial brokers tend to work Monday-Friday, but I will work on Saturday and Sunday if necessary. Sometimes I am so busy I don't have time for lunch. Other times it's so slow that I can rearrange my office. When it's slow, I tend to work on my infrastructure, getting my files together, sending out emails to my clients, and attending broker open houses. The thing I love is that there is no typical day. Every day is different and filled with new surprises.

what they are | I have trouble with the agents---typically coming out of the rough and tumble world of sales-- who blur the distinction between sales "hype" and fraud. Because of the pressure on most beginning agents to close transactions, people will sometimes forget their fiduciary responsibilities to their clients. I can sometimes spot this type of agent (or client, for that matter), because they're slippery. Occasionally clients may use you for a year or more to make offers on multiple properties and then undermine you by going directly to the listing agent or landlord of one of the properties you already showed them. However, client efforts to negotiate on behalf of themselves typically backfire when a naive client negotiates with an experienced, possibly unscrupulous agent.

all about growth | The vast majority of real estate professionals are in residential, rather than commercial, real estate. Commercial real estate transactions can be complicated and time-consuming. People who are tenacious and patient do well. Beginning commercial real estate professionals often do commercial leasing or property management to supplement their income.

my website| http://www.prospectpropertiesca.com