So long story short I am moving from a big brokerage to one that is a bit newer and specializes in a certain sector (retail). I started out doing rentals during summers in college since I could get those listings quickly and also rent out the houses fast which was perfect for my 2 1/2 month time limit. I have stumbled upon a pretty good opportunity at a recently formed (past 7 years) commercial brokerage that focuses on retail, and they have been quite successful. They have some notable principals and the team is small which I like. Since I will be brand new I am assuming I will get all of the grunt work. I also don’t expect to get paid right away; I have no crazy expectations.
I was wondering what you guys predict they will have me do in the beginning? I have been told I will be put on current projects to help out (obviously) but their description was a little vague. A little extra input could help me out. Also I was wondering what you guys think I should research first to help me out as a beginner. What will make me stand out in the commercial retail scene as a new agent?
Thanking you in advance.
Be ready that you will spend a significant amount of time outside the office. Leads and clients require a lot of face time and follow up. Listings must be understood inside and out.
If you want to be a real professional, you should be extremely knowledgeable. Those who specialize in a specific geographic region or product type, such as office or retail properties, must also stay on top of these markets. You need to understand the different types of leases as well. It’s important for retail work. You should be very active, read relevant trade publications and news websites.
My guess from your description is this company lease's out available retail space in existing buildings? I assume the principles actually make the deals to increase the number of actual properties managed? Your role is to attract businesses and put lease / tenant improvement figures together and get approvals from owners?
So do you get paid salary + commission or just commission? How do you attract businesses in the fairly limited Reno market? I know Tesla is increasing demand and creating jobs but what percentage of new jobs equals new business? Are you looking at franchise contacts? Are you marketing to websites that sell businesses? Can you advertise space and structure a franchise and financing for a turn key business?
I know that Reno market and Reno has been a sleepy little city for some time until Tesla came around.
I have advise for you if you want to start house flipping business.
Start Small
Buy at Right Price
Be always ready with the finances
Plan Your Budget
Research About the Latest Trends
Target a Particular Market
Be ready to negotiate
you also need to pay attention to these little things in depth if you want to get success in the house flipping business.