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Follow on Google News | 20% Drop in Home Prices Leads Residential Agents to Commercial BrokerageAs home prices continued to fall and the number of sales declines, residential agents will be faced with the choice to either magnify their skills or modify their dreams.
By: Top Dogs Commercial Real Estate Training How will most residential agents react? When the fear reflex kicks in most will become immobilized. A few will take action and expand their capacity to serve their clients where there is growth. And right now the growth is in commercial real estate because many metro areas have positive job growth, which translates into more commercial transactions. www.newgeography.com posted a list of 397 cities that showed positive job growth. The recent shakeout in commercial brokers makes the opportunity even greater. When most residential agents think about commercial, they think about apartments first. And it is true that the apartment market is booming and rents are rising, but there is much more to commercial real estate. Agents can quickly learn office, industrial, and retail sales and leasing and that is easier and more financially rewarding. “In the past, the mainstream commercial companies controlled the information and resources and that kept residential agents out of the commercial markets. The Internet has removed those barriers. Agents don't need to go to a mainstream commercial company or to set up a commercial practice, they just need to expand their capacity to serve their clients and develop the habit of asking them about their commercial real estate needs.” states Bob McComb, creator of the Top Dogs commercial real estate training programs. McComb reports that sales of his most popular program, “How to Fast-Track Your Expertise in Commercial Real Estate” www.tdogs.com have been robust. Both the National Association of Realtors and the California Association of Realtors have invited him to come to their annual conventions to teach agents how to get started in commercial real estate quickly. That’s because these organizations have been hearing from their constituency that they need help getting started in commercial real estate. As home prices continued to fall and the number of sales declines, residential agents will be faced with the choice to either magnify their skills or modify their dreams. End
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