If you’ve been searching the internet and calling brokers about getting a commercial real estate license, and not finding any results, stop. You won’t find any. Although there are groups and universities seeking to change this process, currently the process to becoming a commercial real estate does not involve commercial real estate licensing. The only license required for commercial real estate sales is a Real Estate License — the same one you take to get into Residential Real Estate sales, which is great for ease of entry, however, it leaves a serious void in an agent’s ability to meet the demands of the commercial real estate industry, and properly service the transaction. Without proper training, it is basically impossible to be a good Commercial Real Estate Agent, and you can cost your brokerage tens to hundreds of thousands of dollars in liability. For this reason, if you’re going to become a Commercial Real Estate agent — even if it’s just to add an additional stream of income to your Residential business, it’s important to have a solid game plan to learn as much as you can about your newfound interest.
The closest you’ll get to getting a commercial real estate license is obtaining a commercial real estate designation.
To become a Commercial Real Estate agent, follow these simple steps:
- Get licensed by your state to sell Real Estate (in other words, take a course and get a Real Estate Salesperson license)
- Decide to what extent you want to do Commercial Real Estate. Do you want to sell Residential and Commercial, or do you want to sell Commercial only?
- Research Brokerages & Set up an appointment with the Broker. If decide to sell Residential & Commercial, choose a well-known brokerage that has a Commercial Real Estate Division. If you decide to sell Commercial only, contact Commercial Brokerages and find out if they have a Commercial Real Estate training program for new agents. (Warning: many will not accept new agents to their team, so if you get a few no’s, don’t get discouraged. Keep calling until you get a yes)
- Find a Commercial Real Estate Training program or coaching program to fast track yourself. If you’re looking to get into Commercial Investment Sales (Multi-family), The National Commercial Real Estate Association, offers courses that help you speak the language of the investor, learn the formulas and terminology needed to handle the transactions, and developed a strong foundation as a listing agent in the business. We also offer coaching programs to help you successfully build and manage your Commercial Real Estate business. You can learn more about commercial real estate training here.
- Get a Real Estate Designation See NCREA or CCIM
- Create a brand and market yourself as a Commercial Real Estate agent.
- Commit to a brokerage and a Commercial Real Estate Training program, do the work, and be in it for the long haul. Commercial Real Estate sales success does not come overnight, but when it does, the financial rewards are great!
For more info on Commercial Real Estate programs, visit www.TheNCREA.com
The National Commercial Real Estate Association (The NCREA) is a national training, coaching and consulting company designed exclusively to help Residential Agents and Brokers seeking to add Commercial Real Estate to their services. Founded by President and Senior Instructor, Michael Simpson, named Top 1% of agents in the U.S. and Top 3 Commercial Broker in California&Hawaii, his coaching and training programs have been instrumental in making many multi-million/billion dollar producers in the industry.
To hear from other real estate professionals about The NCREA coaching and training programs, click here.