Make the leap to commercial real estate
08/15/2016 | Author: Editorial Staff
The learning curve can be steep for residential real estate professionals looking to switch to the commercial market. There are new types of clients, new forms, new vocabulary, and new tricks of the trade to pick up. Each commercial real estate niche comes with its own intricacies, as well.
You might be motivated to make the leap in the hopes of greater commissions. According to the 2015 Commercial Real Estate Member Survey from the NAR, the median sales transaction volume was $2,916,700 in 2014 for members who had a transaction that year. That compares to a median sales transaction volume of $1.8 million for residential sales agents for the same period, according to NAR’s 2016 Member Survey.
How can you make the transition easier? Take advantage of CE opportunities specifically for residential real estate professionals interested in commercial real estate. Texas REALTORS® University is offering two such classes on August 25: Commercial Leasing 101 and Commercial Leasing Contracts 101.
- Commercial Leasing 101 covers the basics of the commercial market and demystifies aspects like the build-out process and insurance needs.
- Commercial Leasing Contracts 101 educates you about which forms to use, how to best complete them, and the purposes of specific clauses.
Both commercial real estate courses are being broadcast across the state on August 25. Find more information at texasrealestate.com by selecting the course name from the drop down menu or contact your local association to see if the courses are available in your area.
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
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