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Updated almost 3 years ago, 01/20/2022
Suggested brokerage supports both commercial and residential?
Hi!
my name is zach Adamson and I am brand new to BP. I will be sitting for my RE license exam in a few months, and am also involved in a few budding real estate investments.
My question is rooted in picking the right brokerage where I should hang my license to support the commercial real estate lease negotiations that I manage in my professional career, as well as the residential projects I manage on the personal wealth building side of my life.
At my day job we consult with c-suit executives of retail, restaurant and location based entertainment clients using proprietary data licenses to help them determine the best location for opening new stores, analyzing can cannibalization of existing stores, competitive analysis and more. There is a huge opportunity that the company wants me to pursue of not just suggesting real estate, but then also managing all the way through the transaction. It is one of the reasons for getting my RE license.
On the other end, and the initial catalyst for me getting my license is I have a couple of syndicate groups focused on SFH build/reno and lease forming in my network that need a real estate agent and I fit the bill. I will take a portion of my commission on any of the deals and invest it into the deal to get residual income without necessarily having to come out of pocket.
When picking a brokerage for where to hang my license, I am finding that most brokerages (rightfully so) specialize in one or the other.
Does anyone know if I hang my license at a commercial brokerage, if that will cover any residential transactions? Will they be able to support very well on those transactions? Will they feel entitled to commission on those transactions?
The inverse questions also being applicable if I hang my license at a residential brokerage.
The real question being is there a brokerage that would do a good job of supporting on both sides of the real estate spectrum? Or is there an alternative suggestion to consider?
Thanks BP fam! 🙏🏼🙏🏼🙏🏼