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#282755 - 03/22/09 10:51 PM
Just starting out
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Junior Member
Registered: 03/04/09
Posts: 7
Loc: North Carolina
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Just starting out in commercial real estate. I'm 19 working with a commercial brokerage, good with people, know all my formulas and math but....I'm very open to any advise??
Anything I should know or expect starting out...anything would be helpful , Thanks!
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#282758 - 03/22/09 11:01 PM
Re: Just starting out
[Re: Buddybacker]
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Major Contributor
Registered: 05/01/05
Posts: 8391
Loc: georgia
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Hard to say. There are hundreds of different ways to make it in commercial.
You need to try a few different things and see what peaks your interest. Specialists make much more in commercial real estate.
Each asset class has a different networking group,deal structure,and marketing campaign.
So once you find the niche you like: Example:land sales and development,shopping centers,medical office,industrial,self-storage,hotels,apartments,regular office ,leasing,industrial,retail,etc.,etc.
Once you find it go find a mentor at the top of their field. You won't become the best working with people that close just a few deals a year.
good luck
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#282817 - 03/23/09 12:58 PM
Re: Just starting out
[Re: super realtor]
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Member
Registered: 01/04/08
Posts: 65
Loc: Nevada, USA, Reno
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One of the best ways to learn the business is to get on the market research side of things. This gives you an understanding of the market you will work in, and its properties. You can also be salaried as you learn the business.
Like Super Realtor stated, having a field of expertise is critical to your success. If you know your market and find a niche, you can market your expertise and easily find clients and listings. If you have a good mentor, in addition to the steps above, you will be successful if you are driven and work hard.
If you are working on straight commission, be prepared to not have any income for about a year. It is easy to get frustrated and give up (it is not a get-rich-quick business), because even after you have several years of experience under your belt, you still learn new things everyday!
After about a year, I finally felt like I almost kind-of sort-of knew what I was talking about!
_________________________
Earl Peterson Stark & Associates Commercial Real Estate Office, Industrial, Retail & Investment Properties Reno, Sparks & Northern Nevada www.starktcn.com
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Registered: 02/16/06
Posts: 2054
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