I have been a residential broker and want to change to commercial broker. Pls. give me some idea how to start

I only list and sell residential for years, and I also get some big commercial deal sometimes. I had to turn down all of them because I don't have any experience about this market. Now, Bank of America offers me to sell 150 units for them, and I don't know what I should start or take it since I don't have any experience for these big deal. Is there any online school for commercial broker. Thank you for all your helps and opinion.
In Selling Property - Asked by daniel n. - May 21, 2009
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Answer(s)

Jeff Y.
Broker/Agent
Mission Viejo, CA

If I where you I would team up with an existing commercial agent. There is no quick way to learn commercial real estate. If you contact me I can give some some referrals...my email is jyrueta@cox.net I hope with helps.

May 21, 2009
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Dwayne M.
Broker/Agent
Magnolia, TX

Call me and I will try to answer your question.
Dwayne Morris
Sr. Commercial Agent
Century 21 KEY Realtors
713 817 8422

May 21, 2009
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Larry D.
Broker/Agent
Grapevine, TX

no school I know of.
I'd be more than willing to assit you been in commercial for 20+ years and it is different than residential

May 21, 2009
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BHG Mason McDuffie R.
Broker/Agent
Berkeley, CA

You could also consider referring out to a commercial broker who is willing to pay a good referral fee. For a solid deal like what you described, we would pay 30% of gross commissions. If you wanted to participate in the transaction to learn the business, that could be arranged as well. Our office is in Berkeley, CA, but we have franchises all over the US. Send an email to jrobin@kw.com if you want a list.

May 21, 2009
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Dave S.
Lender/Mortgage Broker
San Francisco, CA

Your quickest route to understanding what it takes to competently undertake multi-family and other commercial projects would be to:
- attend meetings of your local CCIM chapter
- take the CCIM Introductory course
- find a mentor within the CCIM crowd
See: http://chapters.ccim.com/ and surf the rest of the CCIM.com site, right away!

May 21, 2009
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Paul S.
Broker/Agent
Glendora, CA

You are on the right track asking for assistance. Commercial is very different from residental. The language of commercial is a mystery to most residential agents but not to the buyers and sellers of commercial. As an agent you have a duty to your clients not to undertake something you don't understand all by yourself. A foot doctor wouldn't undertake brain surgery. CCIM Intro is a great way to learn as are all of the other CCIM courses. They are expensive and are not easy. They are however very good.
You should team up with a commercial agent or refer this deal out. I don't know where you are located but if you contact me if I can't help you I can point you in the right direction to someone who can. paulsylvester@remax.net or 626 485-5163. Good luck. Paul Sylvester, CCIM

May 21, 2009
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Susan M.
Broker/Agent
Dothan, AL

I would consider obtaining my CCIM designation. Not easy or inexpensive but it will teach you much of what you need to know.

May 21, 2009
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Joe B. C.
Broker/Agent
Pasadena, CA

I have been exclusively selling apartment buildings with a large national Real Estate Investment Brokerage Company since 2001 and have closed over 75 large multi family transactions. If you need some advise and are serious about getting into commercial real estate, feel free to call me at 626-357-4300.

May 21, 2009
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Kathryn H.
Broker/Agent
Stockton, CA

The CCIM program is excellent

May 21, 2009
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Tai L.
Broker/Agent
San Diego, CA

Take advantage of the opportunity. Ask your broker if you have a mentor who can assist you.

May 22, 2009
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Chris S.
Broker/Agent
Coeur D'alene, ID

1. Save up 3-5 years of income because it takes that long to get started.
2. Earn a college degree in real estate finance, real estate development, accounting and/or law.
3. Indenture yourself to a top commercial broker in the region and work as their runner for a few years making just enough money to rent a studio apartment and eat top ramen but were the $1,000 suits and drive the MBZ every day to keep up appearances.
By then the market should have turned and you can once again make a decent living.
Seriously, it's a tough road and not a simple transition. If you ever want specific advice, let me know, I've been at this for a while.

Aug 3, 2009
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Gregory G.
Broker/Agent
San Francisco, CA

150 unit apartment building??

Aug 14, 2009
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