I figured i’d go to the best firm, with the highest sales and highest valued properties listed.
But i still would like to hear some outside input.
It seems i can join a big name commercial re firm (CB Richard Ellis is the biggest where i’m going, Denver area). I can join a residential firm, national or local, as well as a commercial firm, national or local.
If you are looking for a big name firm, go with Sperry Van Ness if they have an office in the Denver area. I have worked with their advisors in the past and have had good results. They have a good marketing and training program.
T. Patrick Murray, CCIM
Real Estate Investment Team
I’m still in College, i was hoping to start my business as a commercial agent while in school.
At these big name commercial firms, it seems they want to put you through 18 months training first. I really would rather jump right in. If i joined a national chain (KW, Century 21, etc.) i’d be able to get right into it, but don’t want to get skipped by commercial investors because i’m not in a commercial specific firm.
When i get there (Jan. 3rd i’m driving down) i’ll just interview all the brokerages in the area and see what works best for me.
Lawd knows you wouldn’t want to actually have to be trained how to do a job.
Better to get out there and make a lot of mess with other people’s money. Be sure to get yourself errors and ommisions insurance because you are going to get sued if you refuse to learn what you are doing.
Getting the E&O policy will be a good idea if you plan on doing commercial on the side without training. The licensing course (at least in NC) really only teaches you to sell a house; you do not usually learn anything about commercial real estate. It is such a specialized niche you need to have a lot of specialized training to be successful at it. Do not be surprised if you do not do any big transactions in the first year. Most firms will start you out with leasing properties instead of listing and selling property. At least in investment sales, the lease is the heart of the investment. To sell big investment properties, you need to know leases frontwards and backwards and every pitfall that could possibly come up in the sell of the property. Then you need to know what all to do during the due diligence process.
There are some good books about getting started in commercial real estate, but to be successful in this industry it is essential to learn from someone else that has already been there. And be patient. Million dollar deals take time.