Looking at a career as a Commercial Real Estate Associate

Commercial Real Estate Investing
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Looking at a career as a Commercial Real Estate Associate

Caleb Chandler
Sayre, PA · Member since 2013 · 28 posts · 0 votes

Good day all,

Over 7 months ago I stumbled across this site while trying to educate myself on real estate investing. The knowledge on this board is astonishing, and I am excited to pick at that knowledge, if willing.

My question is simple in nature, but I assume it is probably more open ended than expected. What do I need to know? See simple!

In addition, I will be pursuing a CCIM designation at the brokers behest, and paid for by the brokerage.

I have so many more questions, but I would look forward to any comments/advice you might be willing to share.

Thanks,

Caleb

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  • William T.
    Wholesaler · Saint Louis, MO · Member since 2013 · 336 posts · 54 votes
    12y

    @Caleb Chandler Hello and welcome... IMO, your question shouldn't be what I should know? Your statement should be "This is what I have learned so far, what else do I need to learn?". I have seen several times, starting out in commercial is not easy... I would read everything you can regarding commercial real estate and I am quite sure you will obtain suggestions from the site. Participate in the commercial forums as much as you can and just maybe, you can pick up a remote or nearby mentor. "Knowledge is power", and good luck to you and your future success.

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  • Nicolas Gonzalez
    Commercial Real Estate Broker · Winston Salem, NC · Member since 2013 · 38 posts · 9 votes
    12y
    You are starting in leasing? Sales? Property management? Investing? Commercial is feast or famine. You should have at least 6 months of living expenses saved up if this is your new full time job on commission- if not, then I'd say CCIM is great start, assuming you have your RE license and some experience in investment analysis. One book I enjoyed tremendously was the master guide to income property brokerage, helps get your analyzing deals the right way
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  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    12y

    "Knowledge is power"

    My saying is different from this.

    "Applied Accurate Knowledge is Power"

    You can learn knowledge but do nothing with it and get nowhere. You can also apply things that are flat out wrong or only half right at best and not get the results you want.

    So learn as accurately as possible and the put that best information into action. That usually gives you the best chance for success.

    No legal advice.

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  • Account Closed
    Involved In Real Estate · Lynchburg, VA · Member since 2013 · 246 posts · 75 votes
    12y

    Make sure the commission structure is worth it. I know commercial real estate agents who quit and became residential agents because the company was taking too much through various fees.

    It got to the point where a $10,000 commission would net the agent $1,500 which barely covers expenses.

    Brokers seem to have a big advantage over agents in cases like that.

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  • Caleb Chandler
    OP
    Sayre, PA · Member since 2013 · 28 posts · 0 votes
    12y

    Thanks all for the advice. I must apologize for not replying sooner. My intentions were to pick at the brains throughout my infancy stages. The pre-licensing education, holidays, and shadowing a real estate broker, I became a bit overwhelmed.

    @William T. It was a poor attempt at humor. I guess I am not going to be doing stand up anytime soon. I am quite fortunate in regards to the mentor you mentioned. I have been shadowing a broker that has been doing commercial real estate for over 40 years, and hope to take over for him (and his network) within the next couple years

    @Nicholas Gonzalez Sales and Leasing primarily. We live in a relatively small rural area (which the Oil & Gas company are taking over), and will work in agricultural also

    @Joel Owens It funny, I find myself applying some of the information I have received to everyday activities. It is almost like a blindfold has been removed.

    @Patrick D. 50/50 or better, depending on how much I bring in. In addition, we have worked out compensation on current listings.

    Again, thanks for all the advice.

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