November 6, 2019
By Dennis Kaiser
Diversity is at the forefront of businesses across the country. The commercial real estate industry is working to promote workplace balance, as well. SIOR continues to make strides toward the goal of parity within the organization’s ranks. Patricia Loveall, an EVP and Partner at Kidder Mathews in Seattle, is one of those women leaders making a difference. She has been a member of SIOR since 1997, serves on its board and is a Vice President with the organization. Connect Media asked Loveall to share a few insights about building a career in the CRE industry, and the value SIOR adds in our latest CRE Q&A.
Q: What advice do you have for other women thinking about careers in CRE?
A: Many women avoid a CRE career in brokerage because they are risk adverse. Joining Kidder Mathews and becoming an SIOR designee have been the best professional decisions I have made for my career. The best advice I can give any young woman wanting to get into brokerage is to recognize success doesn’t happen overnight. Make the commitment early on – to your education, to believe in yourself and be realistic about what is required to be successful.
I believe the best path to success is about finding a great mentor, man or woman, and that right culture that supports you. Jerome E. Mathews, SIOR, was my mentor and I attribute my success directly to his mentorship. I like to say I went to the “University of Jerry,” where I observed how he interacted with clients, what he said, when he was quiet, how he analyzed information and financials, watched him ask the tough questions and then I adopted those lessons into my unique style.
Additionally, focus on being a professional not about being a woman. Walk into each room and opportunity as if you own it. Separate yourself by excellence, confidence and promise to the people you serve. Lastly, when faced with issues and challenges, identify the problem, find resolution and move on. Learn from every challenge to be better and don’t walk over old ground for it holds you back.
Q: What are some key components of leadership that you have found to be helpful as well as approaches that you have adopted as your career has progressed into leadership roles?
A: Leadership is being genuine, actively listening, seeking input, quickly processing information, being creative and the ability to confidently lead the team. Leadership is not a popularity contest and sometimes unpopular decisions must be made. The membership and professional staff must believe their leader’s interests are aligned with the vision and mission of the organization.
Passion and commitment to SIOR has driven me to a leadership role. It’s an opportunity for me to give back to an organization that has been so impactful in my life. More than business generation, it’s the friendships forged and the ability to learn from exceptional people.
Q: What are some ways that you have built your CRE network and what has been the results of those connections?
A: My network results from relationships built through SIOR, IAMC and my colleagues at Kidder Mathews. Genuinely developing those friendships have been the pathway to highly beneficial business transactions, both referral business through SIOR and Kidder, as well as direct business with the end user as a result of IAMC. For me, these relationships never started about a sales pitch – but rather, finding ways to positively contribute, giving back, forging mutual trust. From there, the business becomes a natural by-product.
Whatever organization appeals to you, get involved, be active not a bystander. Be selective, as we can’t do everything. Doing a few things very well – being a true expert is the secret.
Q: What are you most looking forward to contributing to the SIOR board?
A: I am extremely fortunate to follow in the footsteps of great leaders, like Lynn Reich, SIOR, Robert Thornburgh, SIOR and now Mark Duclos, SIOR.
My objective is to make a difference, to inspire greater diversity and inclusion in our business and be cutting-edge on future initiatives that will lead us into generations to come.
For our organization, those major initiatives also include enhanced member engagement and membership parity in our office members, young professionals and international members.
*Pictured L to R: SIOR’s Tom McCormick, Patricia Loveall, Mark Duclos
Connect Industrial is coming up on November 19th in Houston. You can get more details and register to attend on this link.
For comments, questions or concerns, please contact Dennis Kaiser