Anyone here know about getting into commercial real estate?

[Aerts]

Who here knows anything about getting into commercial real estate? I'm talking being a sales representative for colliers, ICR, etc. How hard is it to get into the field, how hard is it to succeed (by succeed, I mean continuous employment and $100K annual earnings)? I'm talking from the perspective of someone with no real estate or sales experience, but with a university degree.

I know a couple guys who do it, but it's hard to get straight answers out of them or know if they are full of shit (I find a lot of salesmen tend to embellish things). What is the current state of this occupational field in Canada? IE, not just vancouver, but western canada in general, including AB, SK MB. I have no sales experience, and I know that anything related to real estate is a very competitive field. Just having one of those days where I'm tired of my job and wondering what other opportunities are out there.

 

[johnnydepth]

Here's the thing with the field you are talking about as a career. Some people make great money at it, some can't even pull together a living. It is sales, and with this type of sales you need clientele. If it is a position where your employer is providing the clients, you probably aren't going to make enough money to make it worth while. If you are providing the clientele you need connections and need to build a reputation. Then there are other factors to consider, such as market, area, demographics, etc...
Like many other professions it can be lucrative with hard work and luck.

 

[nightswhisper]

With automation, in home delivery, online shopping and the inevitable drone delivery, brick and mortar stores have seen steady decline in sales and value.

Large lots will become less valuable, so keep that in mind.

 

[johnnydepth]

With automation, in home delivery, online shopping and the inevitable drone delivery, brick and mortar stores have seen steady decline in sales and value.

Large lots will become less valuable, so keep that in mind.

Very good point. Presently retail/ wholesale accounts for about 1/3 of all commercial real estate.

 

[Fullhouse]

Who here knows anything about getting into commercial real estate?

It's not quite as easy as you might think. It's not like walking into Brick or a car dealer and getting a sales position.

To sell real estate in B.C., you need to become a licensed real estate agent. That takes at least 6 weeks of steady studying, or up to 6 months - a few hours per week.
You must have 4 year bachelor degree or take a CELPIP exam for $285.
Then you write a 3 hour exam, and your score has to be 70% or higher to pass.

And the 100k or better per year that you are hoping for is only achieved by about 20% of agents. (Mind you, some of them make a lot more than that.)
To make good money, you need experience and a lot of repeat clients.

Oh, and by the way, Aerts, ..... I'm supplying this info free of charge ..... not like SGTSLEUTH, who wants a finders fee...

 

[johnnydepth]

It's not quite as easy as you might think. It's not like walking into Brick or a car dealer and getting a sales position.

To sell real estate in B.C., you need to become a licensed real estate agent. That takes at least 6 weeks of steady studying, or up to 6 months - a few hours per week.
You must have 4 year bachelor degree or take a CELPIP exam for $285.
Then you write a 3 hour exam, and your score has to be 70% or higher to pass.

And the 100k or better per year that you are hoping for is only achieved by about 20% of agents. (Mind you, some of them make a lot more than that.)
To make good money, you need experience and a lot of repeat clients.

Oh, and by the way, Aerts, ..... I'm supplying this info free of charge ..... not like SGTSLEUTH, who wants a finders fee...

I may have misunderstood. I assumed the O.P. was referring to being a leasing agent for a company like Colliers, not a licensed real estate agent. Two completely different things with different requirements.

 

[Fullhouse]

I may have misunderstood.

No problem, johnnydepth --- we all misunderstand at times.

A few years back, I was having a great time at a local strip joint, when suddenly the DJ asked if there was a good penis in the crowd.
Well, I've always been sort of proud of mine, --- so I stood up and whipped it out.

Turned out that the DJ was asking for a good pianist ---- not penis. ...Well, I tucked my tail between my legs and slithered out of there.:doh:

 

[Aerts]

I may have misunderstood. I assumed the O.P. was referring to being a leasing agent for a company like Colliers, not a licensed real estate agent. Two completely different things with different requirements.

I don’t know what the difference is to be honest, but I meant sales agent for one of the big companies. I’m just curious and want to learn about the field and what being successful entails for my own interest.