Working as a residential real estate agent is a rewarding and fruitful career, but what happens when you want to keep growing? Fact is, no matter how dedicated you are, residential deals can only bring so much money per transaction. Geographic areas and the housing market can really limit you, but one commercial deal will open you to a much larger market.
Great news for those looking to expand and grow: your residential experience is uniquely valuable in the changing market of commercial real estate.
Why Make the Move?
While this may surprise you, there is no special license for selling commercial real estate. If you’re legally able to sell residential real estate, the only thing standing in the way of your first commercial deal is you.
Dipping into commercial real estate doesn’t mean you have to abandon your roots. You can easily integrate a few commercial deals into your residential workload if that’s the path you want to take. And if you do, expect to see a much larger commission. Commercial transactions have a much higher total value and often give a much greater commission to the agent.
Ready to take on some commercial opportunities?
How Can Residential Experience Help?
The sale of multifamily properties is one of the easiest ways to dip your toes into commercial real estate. You will find differences, but your unique knowledge of residential spaces will come to be an excellent asset for closing your first multifamily deal. You know what makes for an attractive house, and that translates well to what makes a great apartment, fourplex or condo.
And more good news, right now is an amazing time to make your move.
The age of the suburb is in decline. Living in the city has been growing in popularity for the past decade as more and more empty nesters and younger professionals alike want to live near work, shopping and the cultural hub provided by the big city. With a lack of space comes a much bigger market for rental properties and that’s where you can make your mark!
Not only that, but condos and apartments adjacent to the main streets and town squares of larger suburban areas are on the rise as well. These areas are growing because they offer the walkability of the city with the quiet culture of the suburbs, meaning that no matter where you are, the barrier between residential and commercial real estate is softening. These are arguably even better opportunities for your first commercial property because not only do you know the product, you know what people in the suburbs are looking for.
How to Make it Happen
Now that you know the only thing standing in your way is an easily fixable knowledge gap, what are you waiting for? The Residential to Commercial Academy is your solution. An online academy with one and only one goal: to teach you everything you need to nail your first commercial deal.
With courses covering commercial leasing and commercial sales, over 30 deep dives into the most important concepts, quick-reference notes and fillable documents to make your drafting process easier, it’s easy to see the value. In short, Residential to Commercial Academy is a Real Estate REvolution.
Take your career to the next level.
Comments(7)