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#430229 - 11/14/13 08:11 AM Advice on becoming a Commercial Agent vs. Residential
hutch519 Offline
Junior Member

Registered: 09/20/13
Posts: 7
Loc: Coeur D Alene
I am currently a Registered Investment Advisor, but I am finally transitioning into Real Estate. I am pretty well versed on the residential side. I am the child of a broker and former president of the Board of realtors in Southern California. I have been around residential transactions for the past 21 years. Anyways, based on my resume, the broker I have been negotiating with asked me if I would like to meet with the Commercial division manager because of my skillset. I now have a meeting with that manager, but I feel like I do not know enough about Commercial to be able to analyze our meeting and know if it is a good opportunity.

I do not have a frame of reference in regards to Commercial. Any input would be appreciated. Sale cycles? Marketing? Overall "day in the life". Average commision splits? Ect...

Thanks in advance!

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#430230 - 11/14/13 09:14 AM Re: Advice on becoming a Commercial Agent vs. Residential [Re: hutch519]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7716
Loc: Vermont's North-East Kingdom
Originally Posted By: hutch519
". . . I feel like I do not know enough about Commercial to be able to analyze our meeting and know if it is a good opportunity . . ."

They're probably thinking that you'd be much more able to understand, evaluate, and explain commercial real estate opportunities as investment vehicles (because they are) to that more sophisticated business audience, than would the average new Licensee.

So look at it that way, and don't try to over-think it. You're going in there to listen and learn; not to prepare the agenda for the meeting. You should be very comfortable.
_________________________
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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#430247 - 11/15/13 06:27 AM Re: Advice on becoming a Commercial Agent vs. Residential [Re: Vermont]
hutch519 Offline
Junior Member

Registered: 09/20/13
Posts: 7
Loc: Coeur D Alene
Vermont - Very good point. I guess I am used to being the one conducting meetings. Thanks for the input!!

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#430820 - 12/06/13 04:52 AM Re: Advice on becoming a Commercial Agent vs. Residential [Re: hutch519]
NMK Offline
Member

Registered: 08/01/13
Posts: 23
Loc: Atlanta,GA
Hi Hutch,

That's great that you're considering about going commercial. I'm currently in commercial. I actually prefer commercial more than residential.
To each person there is pros and cons to weigh. You also need to figure out what type of commercial properties you would like to specialize in. On the pro side the rewards can be a lot greater than residential and there is less emotion involved. On the con side the transaction can take longer to complete and may have problems attached to it (zoning). Any good commercial agent needs to know current zoning laws,tax laws,etc.
As with any RE business,prospecting is key but sometimes prospecting can get a bit tough because the decision makers are hard to get to.
I think that persistence is the key to success.

Hope this helps a bit.

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#451895 - 04/08/16 11:37 AM Re: Advice on becoming a Commercial Agent vs. Residential [Re: hutch519]
SoFLBroker Offline
Member

Registered: 04/20/07
Posts: 171
Loc: Florida, Treasure Coast
BWAHHHAAAHAH!
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