We have heard so many times that investing in Commercial Real Estate can be very fruitful in the long-run. People who are experienced and skilled in managing Commercial Real Estate properties are capable of earning huge sums of money with comparatively less efforts and in shorter time.
However, like every profession, making a successful career in this particular field also requires special set of skills, talent and specific education. In this article, I have shared what it takes to be a successful Commercial Real Estate Agent and what should you be expecting from the career in this field.
How much will you earn?
In Commercial Real Estate jobs, you generally do not receive fixed salary monthly unlike any other usual jobs. Realtors usually benefit from the commissions that they receive after the successful property dealing.
However, if you are associated with companies which provide the real estate agency services, then you might have a fixed minimum amount of income along with the specific percentage of commission you will receive. In this case, major part of the commission is taken by the company itself. Also, the bigger the deal is, that is, if you are involved in the selling of huge property then you might receive the commission around 6 months later. Although the commission payouts will be huge but there is no fixed time to receive the money. On the other hand, leasing transactions take lesser time but you will be required to wait for the lessee to offer tenancy prior gaining the complete commission.
What you need to study?
Maya Angelou, the famous American poet and civil right activist said that, “When you know better, you do better.” Hence, getting educated is the first step to step into any career. Moreover, to get a license to deal in commercial real estate properties, you are required to complete suggested credit hours and compulsory courses. There are several universities and colleges that offer Bachelor’s degree in real estate which would help you to succeed in the field. Furthermore, besides having formal education or degree, a good realtor must have the sufficient knowledge regarding global economy, marketplace, and all the related domains. First you “Learn” and then you remove the L – Mohit Manke.
What personal qualities and skills you must have?
Initially, experienced individuals used to suggest that to be a successful realtor, one must have the qualities of a good salesmen. This is because they have to negotiate and convince the buyers to purchase what they have to offer.
However, things have changed now and it is said that the realtors must be more of a matchmaker. They must be sincere, have integrity, and must ensure that their customers keep visiting several properties until they fall in love with one. Then, the realtor has to act like a wedding planner by further completing the process.
Moreover, to be a successful Real Estate Agent, one must be confident and should not hesitate to socialize. They must take steps to do networking and introduce themselves in an impressive manner whenever they get the opportunity. Last but not the least, realtors are supposed to be patient and persistent.
Patience, Persistence, Confidence!
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