Is a Commercial Niche Right for You?
You’re intrigued by the prospect of branching into a new business environment, but not all specialties
will be a great fit. Whether you’re a rookie or veteran residential agent, here’s a snapshot of what
it takes to excel in each of the main commercial sectors.
SECTOR A GREAT FIT FOR YOU IF . . . TIPS FOR SUCCESS
You have a true a;ection for wide-open spaces. You’re flexible
and you’re willing to travel and to pursue licensure in multiple states.
This sector has six to eight subsectors
(such as farmland, subdivisions, and
timberland); unlike other commercial
niches, you need to specialize in two or
three subsectors to ride out the cycles.
You’re a people-oriented multitasker who consistently follows
through on tasks. You’re willing to roll up your sleeves and pick up a
broom, if needed.
This is a good start for those new to
commercial, generally considered wide
open to those with four-year degrees
and those with practical experience in
general contracting and related fields.
You’re able to postpone gratification and assist with marketing,
databases, and supporting senior brokers as you learn so you can
later earn. You’re willing to work initially with little or no pay as you
intern, assisting senior brokers and bringing new business to the
firm while building your book of business.
You’ll get paid faster by focusing on
tenant representation and leasing.
This allows you to control the renter
and find the space.
designation: CCIM, SIOR
You’re not necessarily a policy wonk, but you relish the complexities of navigating and understanding government agencies, zoning
laws, transportation, proximity to raw materials, water, power, labor
availability, and local building and tax laws. You’re willing to outwork
the competition and never stop learning to future-proof your career.
Be a leading innovator at every
reasonable opportunity, but don’t lose
sight of ROI dynamics.
You bring a solid combination of sales skills, negotiation
expertise, and comfort with risk-taking. You’re experienced; this
niche is not for novices looking to dip a toe in.
A degree in finance or related area of
study is recommended. Even with that,
you need the guidance of a solid firm to
launch your career.
You’re willing to hit the pavement—which could be a six-block
radius in a major metro area—and get to know the tenants in all
sectors, buildings, owners, and available spaces. You’re ready to
weather six to 12 months without pay as you learn the business.
First you learn, then you earn. Join a
team and enter into a junior broker or
assistant role for 6 to 12 months for a
firm in a larger metropolitan area.
36 REALTOR® JULY/AUGUST 2016 REALTORMAG.REALTOR.ORG
SOURCES: BOB TURNER, ALC, FOUNDER, SOU THERN PROPER TIES, 2016 REALTORS® LAND INS TI TU TE NATIONAL PRESIDEN T; GEOFFRE Y KASSELMAN, SIOR, EXECU TIVE
MANAGING DIREC TOR, NE WMARK GRUBB KNIGH T FRANK, 2015–2016 SIOR GLOBAL PRESIDEN T-ELECT; CYN THIA SHELTON, CCIM, CRE, SENIOR MANAGING DIREC TOR OF
INVESTMENT SALES, LANDQWEST