Real Estate Investor · Castro Valley, CA · Member since 2008 · 5 posts · 0 votes
I am currently taking courses to become an RE agent. It daunts on me that may be I should get into commercial RE because the world already has too many residential realtors. Is anybody in here a commercial RE agent or broker? What does it take to become one? I assume that it requires extra certification to practice in this field since it's so different from residential market. Thanks for any input.
Real Estate Investor · London · Member since 2008 · 3k+ posts · 74 votes
19y
Originally posted by "DanB":
I am currently taking courses to become an RE agent. It daunts on me that may be I should get into commercial RE because the world already has too many residential realtors. Is anybody in here a commercial RE agent or broker? What does it take to become one? I assume that it requires extra certification to practice in this field since it's so different from residential market. Thanks for any input.
I do not know the specific answer. I know a few commercial brokers.
One started in property management and did that for a number of years. Another was a business major in university and went into an office where he was part of the team focused on deal structures.
Consider picking up copies of the local commercial property journal/newspaper. Get a copy of the Scottsman Guide for Commercial. Look at the ads and see what people are looking for when hiring. Take a commercial agent to lunch and otherwise network in the sector. Even if you meet the requirements for a license you might prefer a specific entry path or find that the field is not for you before you start.
Property Manager · Papillion, NE · Member since 2008 · 5 posts · 0 votes
19y
There are two types of licenses you may obtain. The sales person licensing allows to be a residential or commerical sales person. To be a broker generally requires experience or more education and the the broker's license allows you to operate a "branch" for a company or to open your own company.
Real Estate Investor · London · Member since 2008 · 3k+ posts · 74 votes
19y
As to the various license types. Check the laws of the state you want a license from. The rules vary a lot.
One state in the past let a new person go straight to broker status if they had a degree or work experience in a related field (and the person passed the test). Other states assume experience at one level before they let you move to another level.
In other states there is a difference between a mortgage broker and a RE agent/broker. In CA they are the same license. Property management can be handled with a special license in some states and not in others.
DYOR when deciding if you want a specific license.