Discover the top three reasons why hundreds build commercial real estate careers each year.
In this article:
Commercial Real Estate Careers | Big Reasons Why People Pursue Them
Ask yourself at this moment: why do you want to have a career as a commercial real estate agent? Certainly, it isn’t because of the instability of income or the lack of a structured processing of consistent transaction management.
Why People Start Commercial Real Estate Careers
Polls, interviews, and informal surveys suggest the three most common reasons people pursue careers in the commercial real estate industry:
1. More Money
When it comes to earning potential, the sky is the limit, so to speak. There are several opportunities to succeed as a commercial real estate broker.
One, you can be a real estate agent and join the most generous commercial real estate brokerages with a proven track record. If your strength is in sales, you can earn thousands from commissions alone.
As you learn the ropes, you can eventually start your own commercial real estate business. You can multiply your income in many folds in this manner. After all, you can have hundreds of commercial real estate agents working under you.
One of the most lucrative career opportunities is being a property manager. In this setup, you typically will handle the grunt work that comes with leasing spaces. These can include looking for tenants and ensuring they pay their fees on time.
If you have great interpersonal skills and the talent for helping agents and brokers, one of the rewarding careers in real estate is being a coach.
2. More Time
Make no mistake about it: commercial real estate business requires hard work. It’s not unusual for a real estate agent to spend more than 8 hours in the field. Sometimes you are on call or at the mercy of your client’s schedule.
Unlike working in a 9-5 job, though, commercial real estate careers provide you with greater flexibility on how you use your time. There are also many ways on how to multiply this resource to achieve the maximum results:
- Maximize online advertising strategies for prospecting.
- Consider automation to run your team remotely.
- Build a brokerage and hire qualified real estate agents that show great professionalism.
- Increase the value of your business to attract high-quality clients and big real estate projects.
3. More Personal Freedom
Real estate agents need to be under a commercial real estate brokerage, but in the end, they can determine how long they wish to work. They can start off with a summer internship, spend at least a year or two as an agent and then take courses and an exam that can make them into a broker.
Commercial real estate careers allow you to practice your profession or open a business in your own state. You can also operate in your home office. This way, you can have more time to spend with your loved ones.
The Secret to More Money, Time, and Freedom
Contrary to popular belief, starting a career in the commercial real estate industry is easy. It may take a while to get a license or become a broker, yet you can still follow many different pathways.
The challenge is how to maximize your finite resources, which are money, time, and freedom. The earning potential will always be there, but the discipline to pursue it comes and goes. The realization of being one’s own boss requires a greater degree of accountability than most can apply to themselves.
The ultimate objective is to be a top producer, and the only way to do that is to build a team. I have a series of articles about that beginning with this. Either way, a team is how you can multiply yourself and your available assets as many times as you like.
There’s money, time, and personal freedom with commercial real estate careers. These three alone make it an exciting and rewarding field to be in. Nevertheless, the only way for you to make the most out of them is to create a team so you can multiply yourself and available resources many times.
Are you still cold calling? There is a better way! Top producers don’t cold call, they execute a targeted and proactive prospecting campaign. Here is a 5-minute audit to see how your prospecting stacks up against the best in the CRE industry! Take the Prospecting Audit.
Editor’s Note: This post was originally published on October 12, 2015. This has been updated for quality and relevancy.