If you desire a career that has the potential for a high salary and high reward, the commercial real estate industry may be right for you. Obtaining the right skills and guidance is paramount to one’s success in the industry. As one of the top commercial real estate firms in Phoenix, our brokers have the know-how to assist in all matters of commercial real estate. Read how they got there and what a future in commercial real estate can mean for you below.
Education is Key
Every state requires a license to sell or lease commercial real estate. You can obtain the license after passing a written test administered after studying relevant coursework. Most states will require prospective agents to complete 30 to 90 hours of courses, though a Bachelor’s degree in real estate may substitute that requirement. Additionally, continuing education courses may be required to renew your license every two to four years depending on your state’s requirements.
Also, commercial real estate brokers should to continue their education by reading trade publications and news sites. Commercial real estate brokers must be informed about market trends to help their clients make educated business decisions. A thorough understanding of economics, finances, and local tax laws will separate an exceptional broker from the rest.
Let Your Personality Shine
Successful real estate brokers need to know how to attract prospective clients and be able to sell them on commercial properties. Not only will your education come in handy during these interactions, but the client needs to trust you as a person. That’s why personality traits like confidence, patience, and persistence are key in reaching a deal.
Furthermore, it’s important to network with colleagues, prospective clients, and community members to build and maintain positive relationships. This may involve networking through LinkedIn, scheduling Zoom meetings, or grabbing a cup of coffee at Starbucks. Your professional and personal life should be flexible to accommodate the client.
Find a Real Estate Brokerage with Commercial Properties
Once you’ve become licensed and familiar with commercial real estate, you should seek employment in a local firm. Property Shark suggests two ways you can go about this: join a firm that works in both commercial and residential real estate or a brokerage that works exclusively with commercial properties. Both have their advantages and will provide you with the experience needed to be successful in this field.
A brokerage that works with residential and commercial properties provides experience in working in both sides of the industry. Additionally, it provides an easy way for beginners to dip their toes into the commercial real estate side of things. It’s important to note that working with a firm that deals exclusively with commercial properties means you will solely focus on that type of real estate. This will not only provide you with greater commercial experience, but will allow you to grow your expertise.
Specialize In Different Types of Commercial Real Estate
Once you gain experience with working with commercial properties, you may find it beneficial to narrow your focus on a particular type of commercial industry. You will find several industries that require specific property needs. By specializing in a particular industry, you’ll be able to better target your clients and build a reputation in your chosen field.
Plaza Companies Holds Its Employees to a High Standard
For almost 40 years, Plaza Companies has provided industry leaders with quality commercial real estate to meet their needs. Our longevity and quality of service are made possible by our hardworking real estate team. Their knowledge, experience, and commitment to our clients have allowed us to prosper for many years. Contact us today to learn more about Plaza Companies.