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Updated about 1 year ago,

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4
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2
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Evan Rossi
2
Votes |
4
Posts

Best resources for educating myself on the world of Commercial Real Estate Brokerage?

Evan Rossi
Posted

There seem to be a LOT of resources, youtube channels, courses, brokerage education, etc. for residential agency, and not even a tenth as many pertaining to commercial brokerage. I've been reading as much as I can on the subject, particularly the commercial investment/sales front as that's the field I would like to enter into, or operate primarily in, but I'm curious as to what self-education sources an ACTUAL commercial broker might suggest to a junior/inexperienced agent looking become a competent CRE sales professional in the future--without having to harvest a kidney in order to pay for it.

Particularly, on the second half of a CRE deal, such as after initial negotiations, after LOI/offer is agreed upon, whenever lawyers may become involved (or not, in some edge cases?) to draft contracts, and then the sometimes months (if not years) long process of "finalizing the deal" and specifically what the broker's role is during this period. Due diligence, leasing/income based contingencies, closing organization, documentation, title groups, broker responsibilities, among other things toward the middle and back end of the transaction.

How, as a commercial broker in the sales side of the industry, can I most effectively EARN the commission I'm asking for? How am I servicing my clients or the transaction here after connecting buyer and seller and getting them on agreement to some baseline price, terms, and contingencies? Am I ever even going to TOUCH a contract in the State of Florida?

Also, any resources for how I can prevent accidentally working myself out of a commission? I've read many times that it's simply included in the LOI terms and clearly established/negotiated with listing agents whenever present... but what if the LOI isn't legally binding? There are a lot of questions I have that I haven't been able to find a clear answer to. Obviously trial by fire is probably the solution, and I'm getting ahead of myself, but I have some pretty bad analytical paralysis. I assume there must be some good resources to answer these questions, right?

I thank you for your patience in the long-winded read. If there's anything a commercial real estate broker or even experienced commercial investor could share on this topic, it would be greatly appreciated.

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