The world of Commercial Real Estate can be confusing and consist of a heavy workload, but in the end is extremely beneficial especially if you’re trying to expand your knowledge and your skill set within the real estate world. If you’re just starting your commercial real estate journey, here are a few tips that will help set you on the right path to selling your first commercial property.
1. Get to Know Your Competition
Commercial and residential real estate vary quite a bit; try to learn firsthand about how they both are very different. Contact local commercial brokers in your area and ask to sit down with them over a cup of coffee and pick their brains for advice and
2. Know Your Role
Commercial real estate encompasses a number of roles and responsibilities, some brokers will take on a number of roles. But when you’re just starting out, it’s important to know which role you will play and to make sure you excel in that role before you decided to branch out into other realms of CRE. Establishing your knowledge and skills in one role of CRE will help you establish your credibility and eventually help you branch out and grow as a commercial broker.
3. Know the Details
Make sure your listing’s information is up-to-date, nothing is more embarrassing than trying to negotiate a deal on a property you know nothing about. Unfortunately a lot of listings online contain out-of-date or wrong information about the property, don’t get caught in this cycle. You want to be an expert in the commercial property; make sure you’re continuously informing yourself on the property’s latest information and updating that information for all parties involved in the transaction.
4. Get Certified
There are a number of amazing certification courses online that will help launch your CRE career. Investing in these certifications is an ongoing process, this means that you don’t just a course or two once and hold onto those 2 certifications for the entire duration of your career. This means you continuously learn and grow your skills within commercial real estate. Make it a goal to take a new course or certification every 2 years. The market changes more often than you think and staying ahead of the curve will give you that competitive advantage needed to succeed in commercial real estate.
For more tips on how to begin your selling commercial real estate, check out: National Association of Realtors and Aaron McDermott’s “7 Tips to Selling your Commercial Property”.