Great for everyone, April 26, 2002

This book is great for everyone from the beginner to the seasoned sales forecaster.

I browse it every now and again to remind myself that there are fundamentals to this business, and we know how costly veering from those can be.

It’s a fast read, and I highly recommend it to those doing site selection.

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Is your goal to work full-time with a commercial brokerage, or to continue working with your current residential company, and dabble in commercial??

If it’s the latter and you are in a large market, like Los Angeles, it’s probably not so easy to do. In large markets, brokers often specialize in a specific area, like office, industrial, retail, and then within that you have leasing and sales.

If you are in a small market, it’s probably easier to do a little of everything both on the resi side and commercial side.

Just on a personal note, in my market (Philly), residential agents trying to tap into the commercial market because the resi market is slow are not viewed upon too highly by commercial brokers. They often don’t understand the mechanics of a commercial transaction….also, the feeling is when the commercial market is slow you don’t see commercial brokers trying to sell houses.

My thought is – if you have an interest to work in commercial, do commercial, but don’t just do it because you are buying time until residential picks up again.

Check with the Real Estate Commission. More and more states are requiring property managers and leasing agents to become licensed real estate agents…it’s not that they buy and sell, but because they are taught real estate law in real estate school, and they want to hold these people to a higher level of accountability.

You need to know how the game works before you get into investments yourself….even working in a real estate office as someone’s assistant will give you a HUGE eyeview of how things work.