Recently, the Real Estate Industry seems to be sold as one of the most immediate ways to make serious money. There are many facets to Real Estate and many ways to enter into it, but it is not as easy as it is described.
What is Commercial Real Estate?
Commercial Real Estate is property such as but not limited to apartments, retail stores, offices, shopping centers, and industrial plants.
What is a (Commercial) Real Estate Broker?
A Real Estate Broker and a Real Estate Agent are not to be confused. Brokers manage agents and have to undergo a more comprehensive examination and learning process than a real estate agent does. The Comercial Real Estate Broker is a business person who specializes in selling commercial property owned by others. They oversee much of the meetings, hire the agents, put together financial plans, help seal the deals, and then some.
How do you become a (Commercial) Real Estate Broker?
To become a broker requires between 60 and 90 hours of formal training, passing a written exam, and a specific amount of experience selling real estate, usually 1 to 3 years. Licensing must be renewed every 1-2 years. In some states, a bachelor’s degree in real estate is enough to completely bypass the experience requirement.
The specified courses needed to obtain a real estate broker license are the following:
1.) Real Estate Finance
2.) Real Estate Appraisal
3.) Real Estate Economics
4.) Real Estate Practice
5.) Legal Aspects of Real Estate
Do you have to be a real estate agent before you become a broker?
You do not have to be an agent before you become a broker (this varies from state to state). However, usually, persons wanting to be a broker, get their license as a real estate agent first. They train under a broker for 3-5 years and then they take their broker’s licensing exam. Again, this is only one example of how to enter the field.
What else is required in order to become a commercial real estate broker?
A person’s personality is just as important as training and licensing. Brokers must possess honesty, an amiable character, and a professional demeanor. In order to work in this field, you must be able to be trusted on many levels. A broker must be able to be polite and enthusiastic. There is a level of maturity and motivation required to get the job done.
In order to keep up with this highly competitive field, one has to have attention to detail and a good memory for customer names and faces.
Also, It is a good idea for those interested in real estate to be familiar with their area of business.
Now, there are many institutions online that offer a more convenient way of earning training and licensing for real estate. You can now become a commercial real estate broker through the internet.
In any event, Commercial real estate is a specialty. The steps to a career in commercial real estate require learning the basics of real estate first and then learning the specific form of selling commercial properties.In any event