Real estate firms in US know that it’s natural to expand from residential real estate to commercial real estate. Like realtors who sell houses, commercial real estate brokers work on a commission selling office buildings, shopping malls and other property zoned for commercial use.
Commercial real estate brokerage firms work with a large number of investors. Investors want a good return on their investment and will look to you to provide some number crunching before investing. It helps to know a community well, including future development plans. If you decide to branch out as a commercial real estate firm, you should know that:
1. A commercial real estate firm understands the commercial real estate market in an area and can make an educated guess about economic growth.
2. Brokers and associates with commercial realty firms know how to make presentations and negotiate deals.
3. Commercial Realtors know how to calculate various profit margins from investment property, from a downtown restaurant to office space in the US.
Head up a commercial real estate firmDecide if you're going to join an existing commercial firm as an agent or start your own as the managing broker or broker-owner. Typically, brokers earn a commission rate of 5-6% on sales in their firm.
Learn from US commercial real estate firmsIf you're new to the commercial real estate business, you need to get some education and training under your belt first. Many states require that you carry specific commercial real estate licenses before you put out your own business shingle. Working for experienced commercial real estate brokerage firms helps you learn the ropes to buying and selling commercial real estate.
Decide if you want to be one of the many real estate firms in US with a specialtyMaybe you have a special interest in some aspect of commercial real estate. Many commercial Realtors specialize in foreclosed properties, retail shops or industrial properties. If you decide to specialize, learn all that you can about your area.
federal government auctions off commercial properties and land.
Branch out into commercial leasing like many national commercial real estate firms doProperty management is a huge growth area in commercial real estate. If you don't like the uncertainty of a commission, you might prefer to work as a salaried employee managing property for large investment firms. Know how to do buy and lease analysis, site analysis and other aspects of commercial property management.
- The key to success in US commercial real estate firms is a keen ability to network. Stay open to networking opportunities around you.