Broker Ken Ashley acknowledges that getting into commercial real estate can be tough, especially if you don't have connects in or knowledge of the industry.
When he did it himself by landing a job in the mid-1990s at Cushman & Wakefield in Atlanta, he got help from Brad Smith, a well-connected broker who started a firm he later sold to CBRE. In the three decades since Ashley switched from tech sales to commercial estate, he's closed several large and high-profile deals, including the $100 million transaction that landed Porsche Cars North America's headquarters and customer experience center at a 56-acre site next to Hartsfield-Jackson Atlanta International Airport.
At Cushman & Wakefield, he has ranked among the top 1% of its producers nationally. He also launched and runs Commercial Real Estate Influencers, or CREi, a group that curates lists of skilled social media users in the industry and hosts an annual summit.
Now, Ashley wants to repay the favor and help others seeking to get into commercial real estate. He's written a book, "The Prescription: The Blueprint for Breaking into Commercial Real Estate and Closing Multi-Million-Dollar Deals," to share what he's learned and experienced. The book that earned an Amazon best-seller tag the week it came out is designed to help people navigate the world of commercial real estate and understand how to grow in the business.
Some of the advice he shares in the book includes an overview of the commercial real estate industry and an understanding of what is critical for success. Another is to get over any reluctance to cold call prospects. “Direct contact, when done right, absolutely works and can lead to new relationships and potential business down the road,” he said. Ashley also recommends brokers develop expertise in an industry such as law, a property sector or a particular district in their market. "The riches are in the niches," he said. For those new to the industry, his book also shows how younger people can approach, converse with and learn from senior executives.
CoStar News spoke with Ashley about being a first-time author. This interview has been edited and condensed for clarity.
What inspired you to write this book?
I believe in something called civic rent. I have been very blessed in my career, and I owe civic rent because to whom much is given, much is expected. Someone helped me get into this business. So, I've been meeting with young people for years to try to repay that initial investment in me. And this is a broader way to have an impact on young people and help them understand this great profession called tenant rep brokerage.
What is the biggest difference between writing a book and closing an office deal?
It took me two years to get the book project done. If it took me two years to complete an office lease, I don't know, I'd probably have to pick a different profession. Office leasing is something that I've done for 30 years. I know my way around an office lease; writing a book was a whole new experience, and it requires a different set of chops than negotiating an office lease.
What do you want readers to take away your book?
There's a lot of fear of AI taking people's jobs, and there are jobs like this one, where advising people in large transactions will always require a human being. What I want them to take away is there's a vast opportunity in commercial real estate to serve companies, to serve others, and at the same time, have financial success. I also want new people to have a process to evaluate opportunities, so that they can select the one that is right for them. Finally, I want young people to have a plan to enter this business.
What is the biggest lesson learned during your career?
The better you are dealing with rejection, the more successful you will be in this profession. You have to understand that you can't take rejection personally. Most people, when they say no, don't know you as a human being; they don't know you as a brother, sister, husband, wife, father, mother. They're just saying no to an offering, and many times people get confused about that. So, learning to have oil in the engine, to be able to deal with negative energy is very important to positive success in your career.