The following Q&A was completed as part of our conversational Commercial Real Estate FAQ Interview Series, we hope you find it helpful.
For commercial real estate brokers looking to do well on selling newly constructed properties, it’s not recommended to go off on your own straight away. Instead join in on a senior partnership with experienced brokers, learn from their experience, and build your own foundation before selling newly constructed assets on your own. This will give you the benefit to learn and grow in a protected and learning-friendly environment.
Richard Wilson: What advice do you have for commercial real estate brokers looking to do well on selling newly constructed assets?
David Greer: Are you saying from a brokerage standpoint?
Richard: Yeah. For someone who’s looking to, you know, build relationships, maybe they’re looking to build out their commercial brokerage career in getting the brokerage assignment from a real estate developer or real estate sponsor, do you have any suggestions on how to – how for them to kind of break into that space?
David: I think it’s an important person to have on your team like access to on the brokerage side, that can represent you on the sale side, and kind of keep that transaction arm links from the buyer. So I think it’s important to have them. If they’re newer, I would say in today’s environment trying to get and gain experience by being with a team that’s been in the market that’s looking to grow would be a good way to do it as opposed to trying to do it individually.
David: There’s a lot of senior folks in the business that want to continue to grow their practice and I think it’s a good way or a good opportunity to join them and get a couple years’ experience before jumping out on your own.
Chad Moss: Yeah, a lot of my friends in that business are generally with a larger outfit for five to ten years, and then they decide if they want to go off on their own or not.
Richard: Okay, makes sense.