Becoming a Broker: Rashad Siam Launches Advisory Business

Previously, three of our associates- Rashad Siam, Kiera Dominguez, and Jacob Price detailed their experiences as Kiser Group associates and their plans to continue on their journeys to further their brokerage career in commercial real estate. After joining Kiser Group as an associate in December 2021, Rashad Siam has officially launched his brokerage business as an Advisor with Kiser Group. Below, Rashad details how his experience as an associate has prepared him for this change, and his business plans for his advisory services. 

How do you feel that beginning your CRE career as an associate and then transitioning to becoming a broker has prepared you for your career as an advisor? 

As an associate, I gained experience assessing different real estate markets and communities and in turn, maximizing value for clients. On every transaction, one of my first objectives is to thoroughly investigate the immediate and surrounding areas of a property’s location. Using public information, internal information collected by Kiser Group, and even connecting with local professionals and experts in the area, I’ve been able to learn of anticipated economic growth in different communities, and complete a full analysis on the market. I’ve also aided clients in discovering value-add changes to increase their property valuation- such as anticipating tax fluctuations, taking measures to reduce or mitigate tax exposure, or taking steps to lower operating costs. Each of these skills and practices will aid me in my transition into becoming a broker.

Starting as an associate, then becoming an advisor gave me the experience to become comfortable discussing detailed information with owners while shadowing senior brokers. After internalizing the Kiser Group playbook as an associate, I feel prepared to launch a career as an advisor.

 What was the biggest benefit of working alongside experienced brokers prior to launching your own business as a broker? 

The biggest benefit of working alongside experienced brokers is that I’ve had a chance to see first hand what it takes to become a successful broker. I’ve learned the importance of learning different markets, what brings value to clients, and how to communicate both to all stakeholders in transactions.

Senior advisors assist in implementing organizational skills by providing a cadence on when and how to follow-up  and deliver significant information to clients. Establishing communication skills in order to effectively speak with decision-makers regarding what might be their biggest purchase.

 How would you describe your experience in the multifamily industry so far? 

My experience in the commercial multifamily industry has allowed me the opportunity to to meet many professionals in finance, architecture, development, art, and many other aspects of real estate.

When I first entered into the real estate practice, I felt it would take a few years to determine if brokerage was the next step of my career. So far, I’ve collectively worked in the field for a little over three years as an intern or analyst with some of the largest publicly traded brokerages, and Kiser Group. At each of these companies, my role was exclusively focused on researching multifamily, industrial, office, and retail assets in some of the most active Metropolitan Statistical Areas in the United States. One of the many reasons I made the decision to switch from larger real estate firms to a boutique firm was due to the outstanding real estate professionals at Kiser Group and the focused attention I’d receive to further develop my skills. Because of the trend of developments including a work/live/play dynamic, it’s important to have an idea how other types of real estate, and market conditions, affect multifamily (residential) values.

After being an analyst with the Kiser Group for just over six months, I was ready to take the next step in my career and become more directly involved in the investment in the near West and on South Sides of Chicago. 

What is your advice for current Kiser Group associates looking to become brokers?

One of the best nuggets of wisdom I received from another Kiser Group advisor was to ask questions, be persistent, and be yourself – and I’d recommend for other Kiser Group associates to follow this advice. The only way anyone can become an expert in any area is to ask questions until things become second nature to them, and even then, the learning never stops. Also, the greatest things usually aren’t handed to you — you have to work for them, and persistence is key. And in order to foster real, strong, and valuable relationships, you should want to genuinely get to know the interests and goals of your colleagues and clients, and you can only receive what you project.

Kiser Group is excited to see Rashad’s growth in the multifamily real estate industry through his brokerage career. Meanwhile, Kiser Group’s Kiera Dominguez and Jacob Price are actively working towards this same goal. 

Where are you in your process/journey to becoming a broker? Have your goals changed since the release of the initial blog in March 2022?

Jacob: Currently I am in an exciting position where I’m in a more hybrid role, combining the responsibilities of an  associate and a broker. I’ve built a robust database, and now I’m at a point where I am leveraging it to build relationships and drive results for our clients. My short-term goals of learning the industry and developing market knowledge have adapted, and now I’m at a stage where I am executing my plan and working towards tackling my long-term goal of becoming a commercial real estate broker. 

Kiera: I’ve been part of the Northside team as an associate for 10 months and am incredibly grateful for the experience. My goal of becoming a broker remains, and being an associate has given me the real-world experiences to be successful in achieving this goal.

How have your expectations of the process of becoming a broker compared to the reality of the process?

Jacob: My expectations align closely with what has transpired so far. I am a very dedicated, hard working person, and based on the conversations I have had with Lee Kiser and some of my other mentors throughout this process, I knew the type of commitment that was required to succeed in the business. I’ll continue to follow my business plan, check in with mentors, and stay dedicated to being a resource for clients. I’m eager and excited to see what the future has in store for me.

Kiera: My expectations have been exceeded. I’m grateful to have joined a team and brokerage who have exposed me to many different aspects of commercial real estate, and showed me how to navigate the difficult situations that can arise in this industry. I was really excited to learn the condo deconversion process and have been able to help list, market, and manage escrow for multiple condo deconversion sales. Being an associate has helped me build confidence in my market knowledge and ability to help clients execute successful multifamily transactions.