Commercial Real Estate

Commercial Real Estate

Comparing Commercial and Residential Real Estate If you are considering a career in real estate sales, you must choose wisely between commercial and residential. In most cases, your foremost aspect will be to sell commercial or residential properties. In a small market, you can sell both. In a large market, selling both may be a tough task. The following are general descriptions of the two types of real estate: •    Residential real estate is focused on personal use. Mostly, residential agent’s represent the buyers or sellers of the single-family, primary homes. Commercial real estate centers on business or investment use of real estate. In commercial real estate, you can buy, sell, lease and invest in a wide range of commercial real estate categories, including retail, office, apartments, etc.
Commercial Real Estate

Commercial Real Estate

  •    Both agents require the different set of skills. Residential tends to be more emotional for the client than commercial as a residential property carries the sentiments of an entire family.  Both venues offer a great deal of opportunity and versatility. In a commercial one won’t be dealing with the entire family. •    The commercial sales cycle are slower as compared to residential, but per-deal commissions are higher because properties are more expensive.  The average commercial Realtor makes $85,000 annually versus $39,300 for residential Realtors, according to National Association of Realtors’ (NAR) surveys of its members. •    The residential side attracts all kinds of people, from recent college grads to single mother with children or families to a retired employee.  Commercial real estate has a reputation for being male-dominated. •    Commercial real estate is business-focused whereas Residential real estate revolves around the wants and needs of an individual or a family. Both are excellent careers for vastly different reasons and are amongst the booming industries. Both have its setbacks and advantages. One must know which career option to choose!
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