Can anyone offer some advice /direction for a new licensee? Commercial / Retail sales?

I am obtaining my sales license in a few weeks and am interested in breaking into the commercial & retail sales market. I understand it is a hard market to get involved in without previous experience but was wondering if anyone can offer some advise / mentoring to a newcomer.
In Selling Property - Asked by Erin F. - Sep 29, 2009
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Answer(s)

Adam A.
Broker/Agent
Atlanta, GA

Love cold calling and team up with an established agent.

Sep 30, 2009
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Richard G.
Broker/Agent
Santa Maria, CA

You would do well to get your feet wet in the real estate business by first gaining experience in the residential market then transversing to commercial.
Richard Gasch
Lompoc, CA
Broker Associate

Sep 30, 2009
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Gregory G.
Broker/Agent
San Francisco, CA

I have to disagree, commercial and residential are completely different animals. Join a large company, I started with Marcus & Millichap. Choose a mentor and try and negotiate a monthly draw or better yet a small salary to get you on your feet.

Oct 1, 2009
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Dan H.
Corporate Investor
Powell, OH

I agree with Adam. Pick up the phone and start cold calling and get connected with an established broker/agent.

Oct 3, 2009
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Eric D.
Broker/Agent
Fairfield, CA

I agree with Lance; I have been in the business for about three years. Prior to entering the industry I interned for the Economic Development Dept for a local City where I live. Staff members at the City directed me to Colliers International following the expiration of my internship. M & M, Cushman and Wakefield, and CB Richard Ellis are all major players in the commercial industry. Cold calling is great, but if you lack the knowledge you may find yourself with a bad reputation. Colliers placed me in a two year training program where I was employed as a Research Analyst tracking local market data and publishing quarterly market reports. This allowed me to learn the market, both market conditions and trends, but also who the heavy hitters are in my market. Learn the lingo; most clients, especially large clients, may understand the commercial industry better than you. Knowing this, you add value by finding them the deal that benefits them. The best advice that I ever received was, "be transaction motivated, not commission motivated."
Why is it frowned upon for residential agents to work commercial transactions and visa versa? For the same reason that it is frowned upon for a Family Doctor to perform heart surgery. It's all about expertise...

Oct 5, 2009
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Stephen F.
Lender/Mortgage Broker
Maple Shade, NJ

As a commercial mortgage broker I know most of the agents that refer business to me say they started with a big CRE firm on the ground floor with a mentor like Gregory said and then some have split off to open their own shop or work for a smaller firm. We often have CRE brokers working for us to get their feet wet with the financing end of the transaction while they're building their network of business owners. Good Luck, it can be very rewarding if you put in the cold calls to the right people.

Dec 4, 2009
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Chris S.
Broker/Agent
Coeur D'alene, ID

Live with mom and dad, work 100 hours per week, get a college degree in real estate then a masters, get used to cold call rejection, team up with an experienced broker at a top company, and if the market turns around in 10 years you'll be making enough money to eat out once a month.
Seriously ...

Jan 22, 2010
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