Commercial Real Estate is the Real Golden Egg
Commercial real estate agents are quite often the highest paid agents in the industry. It just makes sense that this would be so. Commercial real estate carries much higher price tags than residential real estate, not to mention, that there are options available other than the actual sale of a property to procure income in the field of commercial realty. One such field would be lease procurement. A long-term lease can pay off for the realtor at a much higher rate than a one-time commission on a large sell.
A residential real estate agent would have to work three times as hard, if not significantly more, in order to bring home the same pay as a residential agent. Commercial real estate agents also rarely have to put in the long night and weekend hours that most residential real estate agents have to put in almost weekly.
Commercial agents get to work more typical 9-5 hours and still make the bigger bucks, yet there are far more residential agents than commercial agents in the market place. One reason for this is because commercial real estate agencies tend to want to hire only experienced commercial real estate agents rather than going to the trouble to train new and/or a crossover agent from residential real estate.
Commercial real estate is probably the most lucrative of real estate fields but getting started can be quite difficult. It’s hard to convince someone that you are the best person to sell his or her property, especially when it’s a high dollar deal, when you have no experience to back up your claim. The truth is that commercial real estate is much easier than residential to sell because you aren’t dealing with the emotional attachments and expectations that you have to deal with in residential real estate. Commercial real estate offerings and needs are usually very cut and dried. Location may be an issue, but the color of paint or landscaping is not usually going to be deal breakers in commercial real estate. It meets the dimensions and specified requirements; it will usually result in a sale.
The best advice I can give anyone considering a field in commercial real estate is to go for it. You may have to earn your stripes by taking an unattractive ‘apprenticeship’ where you help close the deal for someone else and get a pittance for your efforts for a couple of years, but once you’ve closed a few deals and learned the ropes, the sky is literally the limit with commercial real estate. You are looking at massive growth and income potential that would be difficult at best, but quite nearly impossible to achieve in residential real estate.
