I hear many real estate agents and brokers talk about entering commercial real estate, but about 10% actually do it, and only 25% of that 10% will be successful. Why is so difficult to enter the commercial side of real estate? What should I know? Am I a great candidate?
Commercial real estate is a different world, but let’s face it .. people are people, we are all getting up in the morning looking to accomplish our goals, whatever they are. Commercial real estate is nothing different from anything else, if you want it you will need to fight for it. Work hard, study harder, know what clients are looking for just like a home, know what your clients are looking to accomplish.
Now for hard part, it will take you about 4-7 Months to close one commercial transaction, there are much longer guidelines in Feasibility (option period in commercial). There will also be some attorneys involved which will require your attorney / broker (thus expect your broker to taking a higher split for his/her time). However, when you get paid in commercial real estate, chances are it will be 5-6 figures so it is definitely worth the wait, pain, and sleepless nights. I’m a god fearing man, and what I have learned in church is that we must BELIEVE to RECEIVE, YES that’s right, we must BELIEVE 1st then we will receive, but not just believe we must also plan and take action. Yes, you will fail, and you will fail again, then again, and maybe one more time… get up, dust your self off, and keep fighting the good fight. Thomas Edison failed miserably 10,000+ times, Abraham Lincoln was a complete failure till his presidential election, thus many of the greatest people in history have failed. Difference, in a winner, is they keep trying and do not stop.
Well talk to you guys soon =) Now get out there and make it happen.