The Ultimate Guide to Succeeding as a Commercial Real Estate Agent

Commercial real estate can be a lucrative and exciting field for those willing to put in the effort to understand its complexities. In a recent podcast, Jolene Desmond, a seasoned commercial real estate agent, shared insights on how to transition from residential to commercial, the benefits of leasing transactions, and marketing strategies for finding commercial tenants.

One of the key takeaways from the podcast is that commercial agents tend to make more money on average than residential agents. This is due to the fact that commercial real estate transactions are typically larger and more complex, involving multiple parties and higher dollar amounts. Additionally, building relationships with investors is essential to success in the commercial real estate industry.

To make the transition from residential to commercial, Desmond advises that new agents get a baseline understanding of commercial real estate and then jump right into the field, working with a mentor. It is important to understand the differences between CMBS and Laser pro loan documents and to have a solid grasp of financials.

One advantage of leasing commercial properties is that the structure of commercial leases supports the value of the building. Unlike residential leases, commercial leases typically require tenants to cover operating expenses such as taxes, insurance, and maintenance. This means that the value of the building is directly tied to the rent being paid by tenants. Additionally, leasing can be a great way to get started in commercial real estate as it allows agents to build relationships with tenants and property owners.

When it comes to marketing strategies for finding commercial tenants, Desmond suggests networking as a key strategy. This can involve attending industry events, reaching out to existing contacts, and leveraging social media platforms. It is also important to focus on helping clients meet their goals and building relationships with buyers who are building a portfolio of commercial real estate. By doing so, agents can build a loyal client base that will continue to use their services.

Another perk of commercial real estate is that it offers more flexibility in terms of work schedule. Unlike residential agents, commercial agents typically do not have to work nights and weekends. This can be a huge advantage for those looking for a more predictable work schedule.

In summary, commercial real estate can be a highly rewarding career for those willing to put in the effort to understand its complexities. By building relationships with investors, focusing on leasing transactions, and utilizing effective marketing strategies, agents can achieve success in this dynamic industry.

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Don't forget to reach out to Jolene Desmond:
Websites: https://commercialcommissions.com/ or https://www.kccommercial.realestate/

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