Quick question appreciate any knowledge/advice. I’m about to purchase a real estate course to become an agent. However, I wouldn’t like to sell houses but rather commercial real estate like plazas and for businesses. Is there a specific route to talk in order todo that? I’m in FL btw. Thanks !
Quick question appreciate any knowledge/advice. I’m about to purchase a real estate course to become an agent. However, I wouldn’t like to sell houses but rather commercial real estate like plazas and for businesses. Is there a specific route to talk in order todo that? I’m in FL btw. Thanks !
[{"id": "h2whdq3", "text": "Ah well to start, you need to have rich parents who have many connections. Other than that, you have to beg &amp; pray to stumble into commercial opposed to residential.", "replies": [{"id": "h2wk50v", "text": "Thanks for the reply. Is it still the same agents license ? Or do I have to be a broker ?", "replies": [{"id": "h2wqhrx", "text": "Yep same license but very difficult to get a broker to give you a chance on a commercial team without a relationship/previous experience/something to offer other than just another salesperson (ie social wealth). If someone on a commercial team decides take you on, they are paying (through software, support staff costs, office overhead) to take you on if you aren't straight paying that yourself. If you are paying those support costs yourself then you need even more money upfront. Just to make a decent living you're looking at 2-3 years of just 100 calls a day minimum building your book. You probably are not  going to be making any income whatsoever during that time so you better have enough cash saved up to literally live for 3 years. You better have a nice car, nice clothes and a nice demeanor otherwise clients won't take you as competitively as the broker who shows up in a BMW, 3 piece suit, &amp; rolex. Optics are extremely influential &amp; it is a pay to play business. It's also an extremely difficult job to try and pick up a second job with because you will get burnt out fast. \n\nUnfortunately you sound ill equipped to jump into the field at the moment. I'd suggest getting your license and at least trying to make a few sales and network. Again, no one will trust you with their properties if you come in cold to the game with just a license.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "h2wk6y5", "text": "Look for analyst job openings at big shops (CBRE, Cushman, JLL, Marcus, Newmark, etc.). You aren't going to be able to set off on your own and start selling commercial real estate. Completely different than residental.", "replies": [{"id": "h2wkix7", "text": "I appreciate your time and advice. I\u2019ll definitely look into those options!", "replies": [{"id": "h2yiguc", "text": "These are two great suggestions. Also, getting in as an analyst gets you very prepared for brokerage. Also, smaller firms are always willing to entertain bringing on a green broker. Just remember to work your butt off because the investment in time and money is quite a bit for the brokerage owner. \n \nNetworking will be very important, especially within your local CRE community. If you want it bad enough, you can make it happen. Ignore the negativity, some people like to make others feel small so they can feel big. If you want it, go get it. \n\nGood luck!", "replies": [{"id": "h2zixcx", "text": "Wouldn\u2019t it be better to start with residential and then move to comercial as your network grows? I\u2019m thinking about venturing into real estate myself, on the side to see if I\u2019m cut out for it and I also thought about commercial real estate, but this sounds like a next level.", "replies": [{"id": "h30516x", "text": "Honestly only know of one person who transitioned from residential to CRE and they were in the luxury NYC scene prior to making the move. Most people go straight to commercial, I wouldn\u2019t say there is much of an advantage unless you would be in the multi-million dollar luxury market.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "h2y8jcv", "text": "Some of these shops may also have positions for leasing agents. Leases are higher volume and lower commission, but also help build your contact list for following up with owners when they might decide to sell once the building is leased up or when their loan is near maturity.", "replies": [], "depth": 2}], "depth": 1}, {"id": "h2wkna3", "text": "-Look into the larger CRE firms who have high volume teams in your market\n\n-Try to get in an analyst role under one of the top teams\n\n-Spend a year or two as an analyst to learn about your market, product type, industry as a whole, etc. while getting paid peanuts\n\n-Prove your capable of pounding the phones, getting rejected, willing to wait 6 months - a year for the first paycheck once an associate, etc.", "replies": [], "depth": 1}, {"id": "h30bqe2", "text": "It is no different. You only need to know how the pricing of the real estate works, which is mostly covered in part by the appraisal. Rest it is only about finding the right cap rate for the right investor.", "replies": [{"id": "h30gk05", "text": "Any suggestions as to how to get my foot in the door ?", "replies": [], "depth": 2}], "depth": 1}]