Agent2Agent in 93551>Question Details

Deann Mcclung,  in 93551

I'm a residential specialist. I love both buyers and sellers. I have recently been given the opportunity to do

Asked by Deann Mcclung, 93551 Sat Jun 14, 2008

a commercial lease for a retail store. Any advice on how to's or where to do a search for more information so I can learn this end of the business?

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Big jump! Great answer by Cameron. If you think you might do more of this type of stuff, look into taking at least some of the CCIM courses. If just thinking about it, I would suggest the Intro to the Commercial Real Estate Course in the CCIM.
0 votes Thank Flag Link Thu Jun 19, 2008
Real estate is all about deception. There is no transparent market because bids are never published, unlike the stock market. There should be a law to change that, but the NAR is one of the largest lobbyists in Congress, so don't expect any changes soon.

Buyers' agents get nothing if there is no sale, so they want their clients to buy no matter how bad the deal is, which is the exact opposite of the buyer's best interest. Agents take $100 billion each year in commissions from buyers. Agents claim the seller pays the commission, but always fail to mention that the seller gets that money from the buyer. Think about it: who brings the money to the table - the seller or the buyer? All money comes from buyers. No buyer, no money.
If a stock broker were to charge 6% on the sale of stock, he would quickly go out of business. Real estate brokers don't do much more than stock brokers, so why should you give up nearly two years of your working life earning money to pay a realtor for the few hours they may put into helping you buy or sell a house? 6% of the 30 years it takes to pay off a house is 1.8 years of donating your working time to realtors.

There are good buyer's agents who really believe they are helping the buyer, but they're in denial about their conflict of interests. Author Upton Sinclair had a great explanation for this: "It is difficult to get a man to understand something when his salary depends on his not understanding it."
1 vote Thank Flag Link Sun May 31, 2009

There is usually a commercial specialist in most offices. Talk to your broker and find out who has done or does do commercial work. I would then approach that agent and offer a referral fee for their assistance in figuring out the commercial end of the business. It is a great way to learn and most agents are happy to share their knowledge for the betterment of the business.
1 vote Thank Flag Link Sat Jun 14, 2008
Boy Hotlips, that's brilliant. What do you do for a living? Do you provide a serivce or work for a company that provides a product? Anyone can apply your same argument to whatever you do for a livine. Agents don't 'take' anything. We are hired to do a job. We also don't want our buyer clients to buy anything just so we can make a buck. For most of us, referral business is what keeps us going so disgruntled clients is not in our best interest. You want the government to instruct a home owner on how exactly they should market and sell their property?
0 votes Thank Flag Link Mon Jun 1, 2009
Commercial Real Estate requires unique training, however, it's a great field. My Company offers commercial training (Prudential California Realty) . I don't know who you are with, but I would start by speaking to your broker. I can share more information about the commercial end if you would like to contact me. Contact information is on my website, as well as a link to our commercial website.
0 votes Thank Flag Link Mon Jul 21, 2008
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