Considering a career in real estate sales? Your first decision to make will be whether to sell commercial or residential properties. Residential is easier to break into. Not so in commercial, where it usually takes longer to close your first sale. Commercial and residential agents work in very different environments. The commercial side is a more corporate environment.
The commercial sales cycle may be slower, but the average commissions are higher. Also, the average commercial Realtor makes more than double what a residential Realtor does, according to the National Association of Realtors.
For either job, you will need a real estate license. Residential agents are not expected to have a college degree. Commercial real estate firms on the other hand, tend to have higher hiring standards. They look for sales ability coupled with a finance or business degree so that you can talk to clients about internal rates of return, capitalization rates, gross rent multipliers and other analytics. When business degree graduates elect to work for a commercial brokerage firm, they apply much of what they’ve learned about commercial development and finance.
BARBERMURPHY Group is a growth company located in a dynamic market and looking for “can do” people with the skills and integrity who are interested in the commercial brokerage profession.