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#403382 - 03/15/12 09:21 AM Can I buy commercial property if I have a residential license?
becool Offline
Junior Member

Registered: 04/09/11
Posts: 8
Loc: usa
I just got my residential license not long ago, and I found a commercial property that I want to buy for myself. My question is: can I represent myself? or do I need a buyer's agent who holds commerical license? or can I use the seller's agent as dual agent? Thanks!

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#403383 - 03/15/12 09:37 AM Re: Can I buy commercial property if I have a residential license? [Re: becool]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
Originally Posted By: becool
I just got my residential license not long ago, and I found a commercial property that I want to buy for myself. My question is: can I represent myself? or do I need a buyer's agent who holds commerical license? or can I use the seller's agent as dual agent? Thanks!

What State or Commonwealth are you in ?

Do they have such a thing as a Commericial Real Estate License where you are ?

Most jurisdictons don't make such a distinction . . . . Real Estate is Real Estate; and they have enough trouble just regulating it, without trying to separate it into categories for Licensing.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#403400 - 03/15/12 12:46 PM Re: Can I buy commercial property if I have a residential license? [Re: Vermont]
becool Offline
Junior Member

Registered: 04/09/11
Posts: 8
Loc: usa
Really? I always thought commercial RE requires a different license. Do I need to pay any special attention buying a commercial property (office biulding)?

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#403401 - 03/15/12 12:58 PM Re: Can I buy commercial property if I have a residential license? [Re: becool]
Pikes Peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2799
Loc: FL

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#404038 - 03/27/12 06:25 AM Re: Can I buy commercial property if I have a residential license? [Re: becool]
Edvin David Offline
Junior Member

Registered: 03/20/12
Posts: 7
Loc: California
Yes, you can represent yourself for buying commercial property as you already hold residential license.

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#407950 - 06/04/12 01:29 AM Re: Can I buy commercial property if I have a residential license? [Re: becool]
Martin Hudson Offline
Junior Member

Registered: 05/04/12
Posts: 8
Loc: Manteca, CA 95336
If u have residential license, you can buy commercial property but first you have to apply your own license or contact to agent but that agent should be trust worthy.

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#407957 - 06/04/12 07:02 AM Re: Can I buy commercial property if I have a residential license? [Re: Martin Hudson]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2238
Loc: Outer Banks
You don't need any kind of license to buy any kind of real estate. All you need to buy commercial real estate is money.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#408386 - 06/11/12 01:05 AM Re: Can I buy commercial property if I have a residential license? [Re: Bigtoe]
Merkaba Offline
Veteran Member

Registered: 03/20/07
Posts: 1103
Loc: South Carolina
Originally Posted By: Bigtoe
You don't need any kind of license to buy any kind of real estate. All you need to buy commercial real estate is money.
Yea I don't get it. You don't need representation. I don't guess. I think there are a few states maybe that require you to be a client. But in any event you're still the one that calls the shots and you do what you want within the realm of legality. But I say if you're asking these questions you need to get a dedicated buyers agent to help you. You might end up missing out on something customarily known that might cost you lots of money up front or in the long run.


Edited by Merkaba (06/11/12 01:06 AM)
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Bulk REO Investments

Keller Williams Realty
South Carolina

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#408403 - 06/11/12 09:01 AM Re: Can I buy commercial property if I have a residential license? [Re: becool]
Kjmendy Offline
Veteran Member

Registered: 05/16/10
Posts: 935
Loc: London, Ontario
If you are acting as your own principle then you can do what ever you wish to purchase the land.

If you are going to act as your own agent and want some of the commission being paid then you need to make sure your real estate license allows you to cover commercial and that would depend on where you are licensed.

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#426165 - 07/21/13 11:52 PM Re: Can I buy commercial property if I have a residential license? [Re: becool]
UDB Group Offline
Junior Member

Registered: 06/25/13
Posts: 5
Loc: Rajasthan, India
Real estate licensing requirements vary from state to state, so if you have a residential license then call the Licensing Agency and ask him whether it is a residential license allowing commercial transactions.

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#426870 - 08/08/13 02:48 AM Re: Can I buy commercial property if I have a residential license? [Re: becool]
Felix Offline
Junior Member

Registered: 08/07/13
Posts: 9
Loc: India
If you think that property is good for you to get best return then you can do with the help of reliable agents. You can also contact to expert real estate lawyer, he will advice you the best and safe way to complete the deal.

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#427438 - 08/21/13 11:01 PM Re: Can I buy commercial property if I have a residential license? [Re: becool]
Edwin83 Offline
Junior Member

Registered: 08/20/13
Posts: 7
Loc: NY
I think if your state law allow you to have that property and it will give you a high return than you can purchase that.Because there is a great risk in the market but still people earning a lot from real estate.

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#427585 - 08/25/13 03:56 AM Re: Can I buy commercial property if I have a residential license? [Re: becool]
Diego Offline
Junior Member

Registered: 08/24/13
Posts: 6
Loc: Florida
You can represent yourself in any transaction you pursue.

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#441623 - 12/15/14 01:16 AM Re: Can I buy commercial property if I have a residential license? [Re: becool]
Bezon Offline
Junior Member

Registered: 12/15/14
Posts: 4
Loc: ontario
Yes I don't think there would be any issue but if its commission being paid for it then you need your real estate license.

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#452310 - 05/04/16 08:14 AM Re: Can I buy commercial property if I have a residential license? [Re: becool]
erickhon Offline
Member

Registered: 04/29/16
Posts: 49
Loc: Palo Alto, CA, USA
First of all it depend upon the state laws, check for the state real estate authority website, you will have idea of it.
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