Question 1

Guesst founder and CEO Jay Norris
Retail/Tech | New York City | Male | 12 YEARS OF EXPERIENCE 

We’ve given up on feeling included as equals.

My contemporaries and I who happen to be black understand that we have to overperform in our workplace environment. However, even if we overproduce, it doesn’t matter because we’ve given up on feeling included as equals to our colleagues. So my team and I have taken a different approach. We understand that we have to create groundbreaking, innovative and scalable legacy products and services that will tell our story right now and of course later in life.

Brokerage | Chicago | Male | 35 YEARS OF EXPERIENCE 

To be black in CRE is to be a perennial pioneer.

To be black in CRE is to be a perennial pioneer seeking to pave the way for others, but realizing there are too few who thrive or survive. It means becoming accustomed to and remaining confident when you are the only black in the C‐suite or working the big deals. It means being constantly aware or “woke” as to your environment, who the players are and how you are likely to be perceived. A team of two whites pitching an assignment will have a much greater chance  of being taken seriously vs. a team of two blacks, regardless of the latter team’s capabilities. It is especially challenging for black men who must counter the predominant media images that  portray them as either athletes, rappers or thugs; remember the “shut up and dribble” comment.

Peebles Corp. CEO Don Peebles
Development | New York/Miami | Male | 35 YEARS OF EXPERIENCE 

Rarely do you receive the benefit of the doubt.

You have few peers, mentors or friends in the industry. You are often judged by a different standard, which is a double one. Rarely do you receive the benefit of the doubt. Most disappointing in a business filled with second chances, like cats having nine lives, there is little room for error as there are very few second chances for black real estate developers or executives.

JLL Senior Vice President Mark Washington
Investment Sales | Seattle/Portland | Male | 13 YEARS OF EXPERIENCE 

African-Americans generally take on a second personality in order to fit the corporate cultures they want to thrive in.

What it means to be black in commercial real estate is a little bit of a weird question. The question isolates the commercial real estate industry from the rest of a black person’s life and that is just generally not the case.

African-Americans generally take on a second personality in order to fit the corporate cultures they want to thrive in, leading to the weight of living a double life. The factors of racial isolation extend throughout our lives and how we interact with others. These everyday factors are most threatening in situations where people are still ignorant to a simple truth: that human nature is attracted to things that resemble themselves and therefore people do not realize when they are isolating individuals. Inclusion is not a passive ideal, but it is the active effort to shed predispositions and be open and accepting to the unique qualities of individuals. This simple truth affects minorities more than others because they become burdened with making the majority feel comfortable with what is seemingly different from them. This is not something that is limited to being African-American, as other ethnic groups, sexual orientations and genders struggle with this dynamic.

One thing particular to being black in America is the American image of African-Americans. These images are the barriers that enter the room before us and the ideas that most African-Americans spend their careers reconstructing so they can compete on the same level as their peers.

Chicago Trend founder and CEO Lyneir Richardson
Retail Brokerage/Development| Chicago | Male | 20 YEARS OF EXPERIENCE 

There is a lack of access to capital.

There is a lack of access to capital. That has always been the missing link or magic fairy dust that has precluded substantial growth among entrepreneurs of color in commercial real estate. You need capital to control a project, control property, prepare the pre-development team. That early stage, decent flexible equity capital is missing. That gap is something as a developer of color I still think about every day.

In the African-American community, I always joke, when I do my friends-and-family round of capital raising, I get a round of applause. It’s not that people are not supportive of my work, it’s just that I’m not able to raise $2M from them and control a project early on.

Investment Sales Brokerage | Washington, D.C. | Male | 6 YEARS OF EXPERIENCE 

Being in this business is an honor.

Being in this business is an honor. It has been a business that most of the black community has not been aware of and still to this day is not aware of. I inadvertently fell into the business and did not know it existed until I got out of college. 

Multifamily Investment | Chicago |Female | 2 YEARS OF EXPERIENCE 

All eyes are on you.

Being black in CRE means access to opportunities, but also means all eyes are on you in both a positive and negative way — especially if you are a black woman. There are still gender biases within the field, and I believe that race unfortunately can still be used to write someone off. However, the individuals I have met have shown me that those aspects of the industry are becoming more uncommon and looked down upon. There are more opportunities for me as a young, black woman and professional and I have consistently aimed to make the most of all opportunities afforded to me.

Retail Brokerage | Houston |Female | 7 YEARS OF EXPERIENCE 

It means having to expect to not work with your peers and people from your own community.

Multifamily Brokerage | Dallas-Fort Worth |Male | 8 YEARS OF EXPERIENCE 

It sets you apart and can be advantageous.

As an investor, it poses an additional hurdle as it relates to accessing capital. But it also sets you apart and can be advantageous, as it relates to being more memorable. Some may or may not take issue with you, depending on their own biases, but you have to focus on where opportunities are and not get bogged down with someone else’s biases.  

Marketing | Atlanta |Female | 20+ YEARS OF EXPERIENCE 

You can run into small-minded people.

Being black in CRE presents a new opportunity to learn, grow and make money. It also means having access to a client base that typically has not been marketed to by a black broker or not met someone in CRE marketing who looks like him or her. On the not-so-positive side, you can run into small-minded people. However, nothing succeeds like success. If you stay focused on the task at hand and do a great job, clients and peers alike will grow to respect you and focus on your ability to deliver.  

Affordable Housing Brokerage | Fort Lauderdale |Male | 23 YEARS OF EXPERIENCE 

A peek behind the curtain.

It means a peek behind the curtain. I fell into the industry by chance and found that most of my young white colleagues were second- or even third-generation people in the commercial real estate industry. Their families were in the business in one way or another. I feel it’s imperative for professionals of color to do the same. I have teenage children who have grown up in the business, and I'm teaching them about the industry with the goal of going into business as a family.

Investment Management | Chicago | Female | 30+ YEARS OF EXPERIENCE 

It often means that you don’t get the same mentoring and sponsorship opportunities.

It means you’re still very underrepresented and stand out in a crowd. It means you sense that many people question your capabilities when you look to stretch your talents. It often means that you don’t get the same mentoring and sponsorship opportunities that are necessary to be successful and to move up the ladder of leadership and opportunity. It means that you don’t have a lot of role models of success and achievement throughout the industry.

Finance | Charlotte | Female | 16 YEARS OF EXPERIENCE 

You generally have to work harder to be recognized.

Being a black person in any field where black people are underrepresented means you are at an inherent disadvantage. You generally have to work harder to be recognized among non-minority colleagues, earn respect and advance to senior leadership positions.

Asset Management | Chicago | Female | 15 YEARS OF EXPERIENCE 

I'm often the only black person in the room.

It means being one of the few. I find that I'm often the only black person and almost always the only black woman in the room. It doesn't matter the sector — design, development or private equity — one of the few.

The Real Estate Associate Program Executive Director Ken McIntyre
Advocacy | New York City | Male | 30+ YEARS OF EXPERIENCE 

You MUST be persistent and talented.

To be black in CRE is to be a member of a small percentage of persistent and talented individuals. However, although the percentage is small, the absolute number is growing and through technology and networking, the ability to find each other for opportunities and support is greater than ever. But I must add: Given the challenges the industry presents all minority participants (including women) with respect to sponsorship, opportunity and focused career development, if you are in the CRE industry you MUST be persistent and talented.

Genesis founder Karim Hutson
Development | New York City | Male | 16 YEARS OF EXPERIENCE 

I don't really think about it that way.

I don't really think about it that way, or in those terms. A lot of the work we do is in emerging neighborhoods where there are significant minority populations. But as developers we approach every deal with “how can we improve upon what's already there?” I was inspired to get into this business because of growing up in Harlem and the Bronx. I saw the effects of living conditions and really poor real estate. A lot of the reason I was inspired to found Genesis was to say “look, we can do things better. We can create improved conditions. We can create sustainable housing and green housing that's healthy, and that's not depressive, but uplifting.” And we could do it in a way that's financially stable. I bring all of the history of who I am with me into my business, and we think that achieves results for all the communities we work in.

CRE Consulting | Charlotte | Male | 10 YEARS OF EXPERIENCE 

I always have a duty to other minorities interested in pursuing a career in CRE.

It's an honor to be opening doors in an industry that has lagged in diversity and where minorities have been underrepresented. I always have a duty to reach back to educate, mentor and sponsor other minorities interested in pursuing a career in CRE.

Investment | San Francisco | Male | 40 YEARS OF EXPERIENCE 

Most people who aren't black come with a lot of preconceived notions and opinions about you.

Being black in CRE is just another subset of being black in America. Being black in America means you are somewhat unique — only one in eight people in the country look like you. Most people who aren't black come with a lot of preconceived notions and opinions about you before they know you individually. Being black in CRE is even more distinctive. It comes with more attention and judgment concerning your abilities. It requires strength of character and perseverance.

Colliers International Executive Managing Director Eric Yarbro
Brokerage | New York City | Male | 32 YEARS OF EXPERIENCE 

I have used ethnicity as a strategic advantage to win business.

My experience has been that it is a challenge to be any of the categories of minority — black, Hispanic, woman, Asian — in this industry in New York, specifically, because New York is a market where there are different challenges as far as entry into the higher levels of participation. New York is a market where it's a more family-driven business. And the family wants to keep the business within the family.

But overall, I can only always say the glass is half full, and look at ethnicity as being a strategic advantage because more and more people are making decisions on the delivery of that service coming from a diversity of thought, as opposed to just getting the same kind of answer every time by the same four white guys. So I have used ethnicity as a strategic advantage to win business. And I see it as somewhat of a competitive advantage that I can appear to be you, but you can't be me.