Behind every success, there is a story. A story that tells a person’s hard work, dedication, and passion to become a great one. You must be determined before letting you know how to become a commercial real estate broker. Why am I saying that? This is because this profession is not only for making money; it’s a service you offer people. Today, we are going to let you know how to get into commercial real estate with no experience. Read the steps carefully below.
Who Is A Commercial Real Estate Broker?
A commercial real estate broker is a person who assists people in buying, selling, and leasing properties. They are also known as CRE agents. A real estate broker can work independently and with firms as well. Along with the property findings, they also assist property buyers & sellers with market analysis, negotiations, and advice. This is a challenging job, and you need to adapt skills in communication, networking, legal knowledge, and other areas.
Effective Steps On How To Become A Commercial Real Estate Broker
As you are reading this article, we can consider that you are at least 18 years old. Otherwise, you will not be able to become a commercial real estate broker in Shenandoah Valley, VA. Now take a look below to know what the requirements are to become a real estate broker.
Stage 1 – Training And Licensing
Before coming into this industry, you need to complete a pre-licensing education. You need 180 hours to complete the whole course. After that, you must pass the real estate licensing exam, which is not tough. But if you still need some preparation, then you can enroll in exam prep courses from approved institutions.
Now, after passing the exam, you need to apply for a commercial real estate broker license
. During this process, you may need to go through with a background check to get it.
Stage 2 – Gather Experience
Yes, as you are educated and well-trained, you know about the industry very well. But, with 40 years of experience, McClure Realty commercial real estate broker in Shenandoah Valley, VA, is still learning. Yes, that is true because this industry changes daily, and you must adapt it regularly.
So, you need to have a good experience before working independently. In that case, you should join an experienced commercial real estate firm to gain more knowledge.
Stage 3 – Build Network
A commercial real estate broker should have a good network in their locality. You should build a strong online presence and attend industry events, networking events, and community parties to maximise your credibility. It is an ongoing process and takes time to build your network. This step will assist you in getting the best properties to deal.
Stage 4 – Make Yourself A specialist
The commercial real estate industry is vast, and there are a lot of areas where you can deal with. In Shenandoah Valley, VA, commercial real estate agents generally deal with office, retail, industrial, and open spaces. It will be tough to deal with all properties, so you should build your expertise in one industry. However, we do not suggest any specific sector. This is because you may have good potential in one field, so we don’t want to confuse you. Choose your niche where you will be confident to work.
Stage 5 – Promote Yourself
In this part, you have to combine physical and virtual marketing. You should build a professional website and social media presence to build your credibility. To become a commercial real estate broker, you should build good relationships across all communities. This step will bring you more referral clients.
Stage 6 – Update Yourself
As we said earlier, this industry changes regularly, so you need to update yourself accordingly. Things like legal & regulatory, market trends, finance & investment, client needs & preferences are some of them. So, from the beginning of your career, you keep yourself updated with the latest trends.
Why Should You Become A Commercial Real Estate Broker?
Well, according to Indeed, on average, a commercial real estate broker makes $89629 per year in Shenandoah Valley, VA. The numbers will increase rapidly with time and your hard work. Not only this, but a commercial broker also has professional independence, growth opportunities, recognition, and prestige. Now, let’s have a look at why you should become a commercial real estate broker.
High Earning Potential
We have already discussed the commercial real estate agent salary. And this is one of the most interesting parts for newcomers. A commercial real estate broker commission percentage is very high. In fact, if you can crack ⅔ deals in a year, then you don’t need to do anything else.
Growth Opportunities
This industry is limitless; the more you work hard, the more opportunities will arise. For example, Mcclure commercial real estate agents in Shenandoah Valley, VA cracked 13 deals in 2024. So, you can imagine the growth opportunities in this field.
Impact On Communities
When you enter this field, you will become popular. As a real estate broker, you will interact with new people and across different communities. This impact will increase your credibility among the communities.
Entry Into Real Estate Investing
As a part of this industry, you will gain real insights and knowledge about properties. This availability will bring new opportunities to become a real estate investor.
Recognition & Prestige
After entering this field, you will be able to meet with people from different communities. So, it will not only increase your connection but also ensure your recognition.
What Are The Challenges Of Becoming A Commercial Real Estate Broker?
We have already discussed the benefits and how to become a commercial real estate broker in Shenandoah Valley, VA. But there are still some challenges that you deal with in this profession. This point is just to let you know the cons. We strongly welcome freshers with new ideas. However, we never want you to make a wrong decision, so from that point of view, let’s discuss the challenges.
High Competition
This industry is very competitive, and most of the market has been captured by real estate agencies. To make an impact in this industry, you need to gather experience and work with experts.
Long Working Hours
There is no fixed time for this field. You may need to conduct meetings even at midnight as well. In one word, if there are any queries, you have to respond immediately.
It Takes Time
In the beginner stage, you have to wait for clients for some time. You have to be very patient and determined in this field.
Update With New Rules And Regulations
As a commercial broker, you need to align with new rules and regulations. So, you need to do daily homework on zoning laws, market trends, pricing, and other things.
Dealing With Rejections
You have to accept rejections, and you can never expect to crack a deal during the first meeting. So, you have to be mentally strong and motivated.
Conclusion
We have answered all the queries above on how to become a commercial real estate broker. It has a great future and significant career growth. But, apart from all this, the last decision is yours, so think twice before making it. We hope you got all the answers and wish you all the best for your future. Thanks for your time.
