When shopping for a new property, it can be confusing about what type of agent to use. After all, aren’t they all the same? No, they are not. In fact, using commercial real estate agents instead of residential ones can actually help you find a better property and negotiate better terms.
Training Moving into real estate requires a certain number of training hours. However, residential agents do not have to undergo as many hours as commercial agents. INCO Commercial agents have undergone a mentorship program. The additional training gives them the experience to effectively manage a real estate deal. Tasks Because of their additional knowledge and training, commercial agents must stay up on real estate trends. They supply the buyer with a variety of financial information to help them make a decision on whether the purchase is worth the investment. Residential agents don’t necessarily need to know the business details required of commercial agents. Hours Commercial agents expect to work normal business hours versus the constantly available residential agents. However, many commercial agents also handle residential work part-time on the weekends and evenings. Sales A commercial agent can handle properties for both commercial and residential use. With their knowledge of gross rent multiplication, cap rate, economic situations and internal rate of return, they can help you choose the right type of large property to purchase or lease. Education A real estate license is required for both residential and commercial real estate agents. However, commercial agents need a college degree in addition to the license. Ideally, their education included finance or business, so they can apply that knowledge to your search. Commercial real estate agents understand how to find the right commercial property for your business. They have the training, education and understanding necessary to get you a good deal, negotiate better terms and answer your questions. Find one that meets your commercial investment needs.
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AuthorHello, my name is Roger Dennison and I'm a successful commercial real estate broker, with more than 20 years in the field. Archives
January 2023
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