How to become a Commercial real estate broker/agent?
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Answer:
1 - Mentor under an experienced commercial agent 2 - That depends on how successful you are 3 - How would we know this?
Breleigh8 at Yahoo! Answers Visit the source
Other answers
1 - Mentor under an experienced commercial agent 2 - That depends on how successful you are 3 - How would we know this?
godged
You don't necessarily need any more licenses. But, the commercial agents to attend some classes and pick up some additional credentials for this business. You need to learn how commercial real estate works. People that invests in them are business people. The deals are all about income and expenses to operate the property. You will not see a lot of emotional stuff. You have understand, and present information to your client - terms like NOI, ROI, Rent Roll, CAP rate, Gross Pro Forma Earnings, Gross Actual, Debt Service, Debt Service Terms, etc. I have seen agents one deal a year, and live comfortably. Commercial Deals can be land only to the properties like Sears Tower, Walmart Super center, Office Buildings, etc. The deals can be less than $100K to Hundreds of Millions. Numerous large corporations does own the buildings they operate out of, the lease them from someone. Example - Walmart in your neighborhood does not own the building, they lease it from someone. So that someone, which could be an individual, a small company, or a large company will be your client. Your effort to market a property is more involved. Your clients will not invest in a commercial property, unless they can make money. Pretty stuff does not mean anything.
Scuba Kip
You don't necessarily need any more licenses. But, the commercial agents to attend some classes and pick up some additional credentials for this business. You need to learn how commercial real estate works. People that invests in them are business people. The deals are all about income and expenses to operate the property. You will not see a lot of emotional stuff. You have understand, and present information to your client - terms like NOI, ROI, Rent Roll, CAP rate, Gross Pro Forma Earnings, Gross Actual, Debt Service, Debt Service Terms, etc. I have seen agents one deal a year, and live comfortably. Commercial Deals can be land only to the properties like Sears Tower, Walmart Super center, Office Buildings, etc. The deals can be less than $100K to Hundreds of Millions. Numerous large corporations does own the buildings they operate out of, the lease them from someone. Example - Walmart in your neighborhood does not own the building, they lease it from someone. So that someone, which could be an individual, a small company, or a large company will be your client. Your effort to market a property is more involved. Your clients will not invest in a commercial property, unless they can make money. Pretty stuff does not mean anything.
Scuba Kip
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