More often than not, real estate professionals choose their career path with residential home sales in mind. Over time, opportunities may present themselves for a transition into commercial real estate sales. That can be an exciting change, but it can also be a little daunting—especially if you’ve never worked in the commercial space before.
What can agents do to ensure this transition is a positive and seamless one? Here are a few guidelines from our own commercial brokerage team.
Tips for Moving into Commercial Real Estate
- Do you know any other commercial real estate agents in the area? Talk to them! Ask a real pro what guidelines or rules of thumb they wish they had known when they first started out. You might even ask if you can co-list a property with them, shadowing them and learning from their process.
- Get some training. One specific thing you can ask your commercial real estate friends is what kind of training and credentialing they recommend. It’s well worth the investment to get some formal education in commercial real estate sales.
- Stay in the loop about zoning. In commercial real estate, there are a lot of important zoning nuances to keep track of—and those nuances are ever in flux. Make sure you have a connection to local zoning officers, and that you keep yourself in the know.
- Get ready to exhibit some patience. The general rule of thumb is that commercial listings take longer to move than residential ones. If you’re used to the relatively speedy turn-arounds on individual homes, be warned that your time table might slow down a bit once you venture into the commercial space.
- Don’t overemphasize the differences. Is commercial real estate different from residential real estate? Of course—in some critical ways. You’ll definitely want to do your homework to make sure you understand these differences. With that said, the two disciplines are similar where it counts—such as in how both are really all about building relationships.
Making the Jump
Commercial real estate presents unique challenges as well as opportunities—and the top piece of advice we can give is to be patient, manage your expectations, and realize that there’s a bit of a learning curve.
Commercial real estate brokerage is something we’re passionate about here at Kuester CRE—and if you’re curious to know more about the commercial markets in North or South Carolina, we invite you to give us a call.
Call our toll-free number today: 855-723-2500.