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Rashida Furniturewalla, Short Sales, BPO, REO Agent (Spectrum Real Estate Group LLC)

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Rainmaker
5,772,593
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Rashida,

That was our specialty.  A mentor is key, and an office building is different from a retail building.  You have to understand that this related to an income stream, that has specific requirements, and buyers expect you to have an understanding of how to calculate that income.   A

May 20, 2015 02:05 AM
Rainmaker
1,466,257
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Rashida Furniturewalla Commercial real estate is a specialized field. Find someone to mentor you and start taking CCIM classes.

May 20, 2015 01:10 AM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Take classes and see if you can find a commercial agent to mentor you. I live in a rural area. We are jacks of all trades. I have commercial listings, farm/ranch lisings, mountian property and residential listings. 

May 20, 2015 01:26 PM
Rainmaker
913,818
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Check with commecial brokers, and visit sites like Loopnet.com and CoStar.com, then if your serious and have the time and money to devote to it, get your CCIM designation. (Certified Commercial Investment Manager) ccim.com.

 

May 20, 2015 10:40 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

You jump in.

What you will learn is in the world of commercial there are few rules. 

What you will realize is in the world of commercial you are more of a deal architect than a real estate agent.

So, BEFORE you jump, walk into the office of the agent in your office who is the commercial specialist. Give a cut, then attach yourself to his/her elbow every step of the way. If you don't pressure this mentor with a river of questions, to the point they offer to refund to you the compensation, you are not pressing hard enough.

When you have closed the first transaction, don't get excited, the second one will be nothing like that one.

On the 3rd one, take a step back and take in the bigger picture. You CAN have a life style where you tend to those important to you, nurture your relationships, and set the exemplary role model, by further developing your skills and network within the commercial/(REAL)investor segment of real estate. 

You learn by DOING.

May 20, 2015 03:14 AM
Rainmaker
4,583,484
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Rashida -- when I saw your question - I immediately thought of Ron and Alexandra Seigel and I'm glad to see their response is already here.  They are tremendous sources of information on the subject of commercial real estate.  

May 20, 2015 03:09 AM
Rainmaker
699,277
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

Take a class at your board, talk to your broker, partner with a commercial agent.

May 20, 2015 02:21 AM
Rainmaker
1,554,227
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Rashida Furniturewalla is correct Rashida. I worked it for a while, back in 1999-2000 and it took formal & mentored training and a lot of patience ( in CA it tended to be a very small, "good lo boys" club) that I really felt like an outsider in until I had a mentor. I found my mentor by taking different successful agents to lunch and asking them questions; until I found one that seemed to genuinely wanted to help me. I eventually realized I preferred residential real estate and shifted back over, but if you like non-emotional, numbers based bottom-line business; commercial is your cup of tea. Good Luck!

May 20, 2015 01:38 AM
Rainmaker
613,494
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Take CCIM classes.

Eve

May 21, 2015 03:40 AM
Rainmaker
4,319,773
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Rashida Furniturewalla - first, check your personality if it fits that or not. Next, get a coach/mentor and shadow him/her.

Commercial transactions take lot longer to close - so have many in pipeline! 

May 20, 2015 01:39 PM
Rainmaker
4,800,132
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Commercial real estate can be very tricky.  If you want to do it yourself and not refer it out, I would suggest you find a commercial broker willing to teach you what you need to know (as well as taking some classes).

May 20, 2015 06:03 AM
Rainmaker
634,532
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Don't get into commercial real estate unless you get specialized training (classes) AND have a mentor for your first few transactions. There is a big range just within commercial. You may be selling a small airport or a restaurant or a machine shop or strip mall. ALL involve lots of specialized knowledge.

May 20, 2015 05:08 AM