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#119948 - 03/29/06 10:03 AM learning book or CD's on commercial real estate.
lvrealtor Offline
Member

Registered: 10/30/05
Posts: 37
Loc: Las Vegas
How does a brand new real estate learn or break into the commercial real estate business? There are tons of books and CD's that teach residential, but I can't find anything on learning to sell commercial real estate. Any suggestions?

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#119949 - 03/29/06 01:04 PM Re: learning book or CD's on commercial real estate.
alvin Offline
Veteran Member

Registered: 09/02/04
Posts: 992
Loc: dev
Here's a typical grunt work for a commercial agent assistant. Try doing this first if you dont have a license.

1. The Property Administrator is responsible for Handling tenant and owner service requests
2. Administration of tenant leases
3. Collecting tenant receivables
4. Updating leasing status reports
5. Coordination of tenant events
6. Directing janitorial and security staff relative to tenant and owner service requests
7. Organizing and maintaining building office files
8. Creating & processing expense reports
9. Represent the company's clients/partners in a professional manner at all times.
10. Be aware of property managers’ whereabouts at all times.
11. Handle emergencies in property managers’ absence.
12. Greet clients and customers.
13. Handle customer, vendor and broker inquiries.
14. Research issues thoroughly and prepare solutions for review by Senior Property Manager.
15. Maintain current insurance certificates on all customers and vendors.
16. Maintain Hazardous Material Certificates on all customers.
17. Mail rent invoices in a timely manner.
18. Retain working knowledge of Excel and Word in order to create and revise insurance certificate logs, customer and vendor lists, preliminary budget information, last minute correspondence and other computerbased tasks.
19. Assemble and maintain uniform project files based on a model file.
20. Prepare word processing cover sheets and proofread documents returned by word processing.
21. Update project and vacancy site plans.
22. Prepare lease summaries, move out notices, changes in lease commencement date, writeoff requests and other lease administration or accounting related forms.
23. Research delinquent invoices and other missing documents.
24. Code and process bills.
25. File project documents as they are generated; file correspondence weekly.
26. Photocopy; transmit items via facsimile; prepare envelopes, overnight packages, etc.
27. Purchase supplies and equipment for Properties and Building Offices.
28. Prepare and package monthly client reports.
29. Assist in annual budget preparation package for Owner.
30. Maintain good tenant relations through regular contact by phone.
31. Distribute all new movein information to tenants upon lease execution and arrival in Building.
32. Assist in collection of monthly rent and other tenant billings.
33. Assume any duties that will free Property Manager/Senior Property Manager to devote their time to asset management, and perform duties of assistance to the Owner and the company
34. Lease Administration
35. Check Lease Summary information for accuracy.
36. Input tenant contracts, lease dates, billing information, insurance dates and all other data for generation of monthly reports which track receivable information and tenant’s insurance.
37. Compile and maintain complete lease files on all tenants including tenant movein information and accounting correspondence.
38. Maintain original leases and renewals in fireproof cabinets in Management Office.
39. Coordinate movein activities and tenant welcome gifts.
40. Other duties may be assigned.

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#119950 - 03/29/06 02:13 PM Re: learning book or CD's on commercial real estate.
alvin Offline
Veteran Member

Registered: 09/02/04
Posts: 992
Loc: dev
www.globest.com
www.nmhc.org
www.realestatejournal.com/commercial/
www.multi-housingnews.com/multihousing/index.jsp
www.reis.com
www.creonline.com
www.thecreativeinvestor.com
www.reiclub.com
www.loopnet.com (national website, mostly non-institutional properties, buyers and sellers, free and fee based)
www.cbre.com (national broker, institutional properties and sellers, free)
www.costar.com (national broker, mostly commercial, fee based)
www.hpapts.com (national broker, mostly multifamily, free)
www.resales.usda.gov (USDA site, government REO properties for sale in rural areas, single and multifamily, free)
www.hud.gov/offices/hsg/mfh/pd/mfplist.cfm (National, HUD multifamily properties for sale, free)

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#119951 - 03/29/06 08:27 PM Re: learning book or CD's on commercial real estate.
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
Here are two books you should check out.

How To Succeed In Commercial Real Estate by John L. Bowman

Negotiating Commercial Real Estate Leases by Martin I. Zankel

If you are going to get into Commercial then you should have about a years worth of savings if you do not have another source of income.h

 Quote:
Originally posted by lvrealtor:
How does a brand new real estate learn or break into the commercial real estate business? There are tons of books and CD's that teach residential, but I can't find anything on learning to sell commercial real estate. Any suggestions?
_________________________
Paul Oaks
Oaks Real Estate Group

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#119952 - 03/31/06 02:53 PM Re: learning book or CD's on commercial real estate.
alvin Offline
Veteran Member

Registered: 09/02/04
Posts: 992
Loc: dev
i had an interview with marcus and millichap and they have a program for new commercial agents where they pay $2k a month for 1 year. its an 18 month committment, you will be assigned to do administrative work and to work with a top producer. extensive training will also be provided. bonuses or commissions are structured as well.

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