Commercial real estate can be a very lucrative career. However, it is generally much harder to get going in the commercial side, sometimes a year or more before any income is realized. Sometimes how you choose a commercial real estate brokerage can make all of the difference. Learn what to consider here.
iStockPhotoIf you are interested in making your living matching commercial tenants to office or retail space, then you may not want to affiliate with a commercial real estate firm that does most of its business in industrial property sales. Read about the importance of market experience here.
Commercial real estate brokerage firms can range in size from a single broker to dozens, or even hundreds in a large urban area. How should brokerage size influence your choice of a commercial real estate firm for your first home? It isn't a black-and-white decision. It could rest with your own personal needs more than the amount of business the brokerage does.
While there are definite benefits in starting your commercial real estate career at a nationally affiliated firm, there are drawbacks as well. It could be a matter of your training needs, or how much business they can feed you at the beginning. And, be careful to understand the compensation.
All wrapped up in brokerage size and exposure are employment benefits, compensation packages, benefits and the terms of your employment agreement. Don't miss something that can cost you dearly later if you decide to move to another brokerage.
