Updated: Oct 14, 2019
Written By: Galit Ventura-Rozen
As Broker/Owner of Commercial Professionals in Las Vegas for 25 years and a successful commercial real estate agent that has sold, leased and managed commercial properties the one question I have been asked the most by residential agents is how you get into commercial real estate.
Over the years I have made it my goal to direct any person that has asked this question. Typically, it has been residential agents, as such I made sure I myself mentored numerous agents that are successful today in the areas of management, leasing, and sales. I have also taken the time to work privately with residential agents that want to learn the profession inside and out.
The easiest way to start getting your feet wet in commercial real estate is to start with leasing properties. This tends to be the more natural progression for residential agents because a client that has purchased a home may now be interested in leasing a space for a business. You have a few options at this point:
1. You refer your client to a commercial real estate agent and collect a referral fee that can be anymore from 10% to 25% depending on the term and value of the lease.
2. You can ask a commercial real estate agent to work with you and explain that you do not have any experience in commercial leasing but would be interested in representing your client. In this situation you may have a landlord's agent that is willing to "hand hold" you through the process for more of the commission. This is a great way to start learning the in's and outs of leasing.
3. You find a commercial agent that is not related to the deal and ask if they would team up with you on tenant representation that is willing to show you how to find property, show property, write a letter of intent, review the lease and more for part of the commission you will receive for leasing.
4. You can join a company that offers commercial leasing training and will show you how to work with leasing clients with support and guidance to represent your client appropriately.
If you are interested in learning how to sell properties, I would suggest the scenarios above as well as one or more of the following:
1. CCIM (Certified Commercial Investment Member), education which is a program to teach agents the most in-depth courses to cover ethics, investment, market analysis, financial analysis and more as well as become certified. There are criteria to be accepted into the program and you can learn more at www.ccim.com
2. Local real estate schools such as Key Realty offer a few courses such as commercial sales or commercial leasing which are 3 hour classes for continuing education.
3. You can find a commercial real estate company in Las Vegas that offers training and a position to work with a team to learn hands on how to sell properties in Las Vegas.
If your interest is in adding commercial real estate experience to your current residential sales these are a few options and if you are interested in making the transition to commercial real estate all together there are many options for you to do so in Las Vegas. My 25 year and counting career has been a successful one and I recommend learning more for anyone that might be interested.
Galit Ventura-Rozen is Broker/Owner of Commercial Professionals for over 25 years, a Business Performance Coach, Professional Speaker and author of The Successful Woman's Mindset.
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