How to break into commercial real estate?

I am a Realtor in the metro Atlanta area and I want to get into commercial real estate. My current broker does everything, but commercial. He told me to find out how to really get into it and he will help me along the way since he does not know too much about it. What would be the best course of action?
In General Area - Asked by Donald R. - Aug 23, 2016
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Answer(s)

Todd M.
Owner/Investor
Huntington, NY

Hi Donald
I would start by reading this book it provides great information about how to get started in commercial real estate.
https://www.amazon.com/How-Succeed-Commercial-Real-Estate/dp/0940352168
Best of luck in your new venture.
Todd McIndoo
Community Commercial

Aug 24, 2016
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Beau M.
Broker/Agent
Atlanta, GA

Hello Donald,
I'm a commercial real estate agent in the metro Atlanta area and as Todd pointed out a good place to start is by reading and gaining knowledge. Additionally, I would contact the International Council of Shopping Centers specifically their Project REAP Atlanta program. This program is designed to help people transition into commercial real estate. If you're interested I can put you in contact with one of the directors.

Aug 24, 2016
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Vicki H.
Broker/Agent
Jacksonville, FL

Hi Donald
If you are truly interested in working in the commercial real estate market, you should interview with several different commercial brokers and work out the best commission split/ deal with the broker you decide to work with. Look for a broker who has a lot of experience in the commercial field, but one who also either has the time to train you properly or has many other agents in his/her office who you could train under. INTERVIEW THEM. The broker and agent/s. Ask questions. You will be rewarded for your diligence. Some brokers are willing to take on 'newbie's' and put them with one of their agents to train in a particular field/specialty. For instance: Industrial, or office, or land, or retail. From there you learn to represent either the owner, or the buyer, or the seller, etc. You also learn to read leases, write contracts, etc.
You would have to be willing to work hard, put in a lot of time, be willing to listen and learn, ask questions, and then be willing to split your commissions with not only the agent training you, but also the broker who your license would be listed under. For instance, the broker might offer you a 50/50 split, and then ask you to do a 50/50 split with the training agent. This is not written in stone though. You must NEGOTIATE your own deal with the broker and training agent/s.
You could not stay with your current broker. And then, you would have to be willing to be paid nothing at all until you 'close on a deal'. Patience and hard work are virtues in this market. Honesty and diligence are also. Commercial Real Estate is an awesome field to work in though. There are so many specialties to work in. Every deal is different. Every client is different. Each one is a learning experience...of their particular business and how they came to be/started out, etc. I'm always fascinated by each deal/client and their business needs. I love it!
Just put your mind to learning and doing well, and treating all who you come in contact with as a potential client, and be patient, and you can do very well. It is a very rewarding field. Be warned. You can only place your license under one broker at a time. So your relationship with your current broker will have to be terminated. But you can remain friends and have him/her as a contact for any commercial referrals he/she can send to you. Your broker would then pay him/her a referral fee. Something they would negotiate between themselves and something you could be paid for also.
So, I hope I have been able to lend a small measure of help to you and to your question. One other suggestion: If you are a member of FAR and NAR and your local real estate training organization, (we have NEFAR), they might have some classes from commercial brokers who offer some measure of training and shared knowledge. You might want to try asking there also.
Have Fun in you new career.
Vicki Harr
Florida Commercial Real Estate Broker

Aug 26, 2016
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John W.
Broker/Agent
Leland, MI

If you've had some experience in Real Estate contact NAR and sign up for the first in a series of CCIM Courses...upon completion you'll get the picture. Cheers. John W. Welsh CCIM (32yrs.)

Sep 8, 2016
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