30+ Resources:How to Jump from Residential to Commercial Real Estate

I have been asked many, many times over the years, “so, how do you get into commercial or how do I do both residential and commercial?”  Some may debate the correct answers to this question.  Some of the answers may seem obvious or redundant.  I decided to make up a good basic list.

Property Information and Research:

Niches you can dominate with lots of data and industry connections to help:

Education and Resources Available:

Learn These Terms and Find the Forms:

  • Exclusive Tenant Rep. Agreement
  • Exclusive Buyer’s Rep. Agreement
  • Exclusive Listing Sale and Lease Agreement
  • Letter of Intent
  • Purchase Contract
  • Master Leases
  • Representations & Warranties of Seller
  • Zoning/Governmental Approval

Most all forms are online and were created and or maintained by a state commercial board.  The cost is surprisingly affordable.  I have forms that are used throughout my entire state.

Social or Online Commercial Real Estate Networks- Get Connected and Learn:

Referral business- how much money are you passing up by not thinking Commercial Real Estate?

What do you have that they don’t?  Simple:

Your connection to the street and your community. Your database it is your gold mine.  Think of everyone in your database that has a connection to a business owner, property owner, restaurateur etc. Ask them, “who are you doing real estate business with now”?  Who is their go to Commercial Real Estate person?  I bet if you ask, they won’t have a name or they probably haven’t done any biz with whoever they may think of in a LONG time.

Here is one last big thought:

You don’t need a special license to sell, practice, refer, learn, get into, look at, buy, own, rehab, lease, or just make money in Commercial Real Estate.

What’s holding you back?  What are you doing NOW to get your piece of the Commercial Real Estate business?

Duke Long