Goldie Wolfe Miller, the winner of the 2024 CPE Lifetime Achievement Award, is a name and a legacy that is renowned in the commercial real estate industry.
Praised not only for her career achievements but also for her extensive advocacy and philanthropic efforts, Wolfe Miller has been the recipient of numerous awards and accolades. On Thursday, as she gracefully accepted the award, she shared insights from her decades of experience.
Wolfe Miller has completed some $4 billion in real estate transactions. She is one of the top real estate brokers in the nation and has spent her time outside of dealmaking as an advocate for other women in commercial real estate. Her accomplishments are extensive and varied: president of Millbrook Corporate Real Estate Services, pathbreaking founder of Goldie B. Wolfe & Co., board member for numerous CRE organizations and head of The Goldie Initiative®. But her path hasn’t been linear, nor has it been void of challenges.
Overcoming the odds
When Wolfe Miller first graduated from college, she told attendees at the CPE Influence Awards event, she had no idea what she wanted to do.
“I wish I could tell you that I had a great vision 50 years ago, and that I wanted X, Y and Z, but quite frankly that’s not how it started,” she said. Instead, one of her professors steered her toward advertising.
But when promotions didn’t bring salary increases and she ultimately wanted more for herself, she moved into sales. Why real estate sales?
“Selling bridges is just as hard as selling widgets,” she observed with a smile. So, CRE brokerage it was. Her real estate journey began with Arthur Rubloff and Co., where she quickly rose up the ranks.
“It was really important to me that I wasn’t their top woman producer, I was the top national producer who just happened to be a woman,” she said.
This same work ethic is what drove her to start her own company, and ultimately sell it years later.
“Risk is not easy, it takes a lot of deep breaths,” she recalled of the stress of starting anew. “And I said, you know, I can always bag groceries. That was my attitude at the time.”
In a room full of men, she rose to the top, and then founded her own company, which topped the charts too. Now, she focuses on guiding other women in CRE to do the same.
Empowering women and CRE brokers
The Goldie Initiative® was first launched in 2007 at Roosevelt University in Chicago, where Wolfe Miller herself attended school. It quickly expanded to more than 20 campuses across the nation, with more than 200 graduate students who have participated to date.
When talking about the young women that the initiative has helped mentor and guide in their own careers, Wolfe Miller lights up. All scholars of their own right, the professionals taking part in the initiative are bright individuals who will change the CRE industry as we know it.
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“It is so rewarding, and it’s so exciting to see their enthusiasm and to see their drive,” she told CPE’s award winners. “It’s really the reason why I do this.”
Wolfe Miller hopes that her passion extends to others, who can take place in the initiative and empower women leaders as well. Whether it’s through donations, being a mentor, volunteering or sending in internship opportunities, everyone has the potential to advance the cause. And it’s making a difference.
“I think the industry’s made a great effort,” she said of the progress made in advancing women in CRE. “We still have a way to go, but I’m very proud of our group. I’m very proud of not only The Goldie Initiative®, but the industry as a whole.”
Her advice to the audience
Of the many pieces of advice that Wolfe Miller gave during her acceptance of the Lifetime Achievement Award, she left the audience with three core principles: hard work, determination and persistence. Throughout her 50 years in CRE, these haven’t changed.
But what does that really mean? First, Wolfe Miller recommends acting like a sponge. Gather as much information as possible, network with as many people as you can, talk to as many industry vets as will pick up the phone, read CRE publications and understand the market.
Next, she recommends being able to pivot. Real success, she noted, isn’t how you handle the obstacles, but instead how you handle the obstacles to better inform yourself and pivot to make a positive change.
This is particularly applicable in the world of commercial real estate. As Wolfe Miller noted, the CRE industry is cyclical. She’s seen rates skyrocket just to plummet again. The office space has had its time in the spotlight, and more recently, has had its fair share of issues. There are times to be a developer and times when it’s better to be a broker. Without a crystal ball, adaptation is key.
“The wrong job isn’t forever,” she said. “The wrong husband isn’t forever. I’ve had experience in that. How do you pivot?”
And, of course, have some fun. Wolfe Miller loves the real estate industry almost as much as it loves her. So, her advice is to smile through it all.
“It’s never been a job,” she said. “It’s been a lifetime of experiences with wonderful people that I have worked with, and it’s been a great ride.”
