The number one difference between residential and commercial real estate, from an agent's perspective, is knowing how to value property. Commercial property is, historically, valued by the income approach and you must be fully-versed in CAP Rates, Net Operating Income; financing, refinancing and defeasing, which is nothing like residential; marketing, which again is nothing like residential. You can take classes but you have to be sure to hit the financial aspects of commercial real estate and know them inside and out before you represent anyone. The commercial world is simply not built for people who one day decided to get their real estate license. Commercial real estate nearly always involves attorneys (I'm one) and they know the rules inside and out. In order to even have the ability to negotiate you have to be on an even playing field, and unless you have a severely complete understanding of the system, the markets and every consideration that applies, you'll get your client screwed.
This is not for the faint of heart
Mar 17, 2009