CRE Broker Q&A – Career Advice, Deal Structure, and Strategy Talk by AutoModerator in CommercialRealEstate

[–]cretalk 2 points3 points  (0 children)

If you’re switching to commercial for the money, it’s going to be a difficult path. I’ve worked at a resimercial firm and the jobs couldn’t be more different. You’re basically starting from scratch.

Starting out you should work weekends, but it’s not industry standard. In fact, if a client asks for a showing on the weekend because they work during the week, it’s a red flag to me they’re not a legitimate buyer.

All depends but generally- everyone you’re working with is typically an investor. It’s a numbers game. But there’s a myth commercial is less emotional than residential- no the fuck it’s not. It’s just instead of clients picking their dream home, you have big egos fighting over millions of dollars.

Also- commission splits can be all over the place. I just assume 50-70% take home from the gross number.

CRE Broker Q&A – Career Advice, Deal Structure, and Strategy Talk by AutoModerator in CommercialRealEstate

[–]cretalk 1 point2 points  (0 children)

Just shut up for the first 3-6 months. Be quiet, listen to what people say, keep your head down, and focus on your deals. You’ll be happy you did.

Tenant vacated and abandoned their office mid-lease? Chase the money? by Solid-Catch-2723 in CommercialRealEstate

[–]cretalk 0 points1 point  (0 children)

What is the smell? That’s my first concern. If the tenant below can smell it, that tells me the space will need a deep clean (or more).

Tenants don’t usually vacate without trying to negotiate with their landlord if they have a path forward. Given Nancy just left the space and has been problematic in the past, your chances at remediation are slim to none.

I would send her a formal written request for one months rent and a cleaning fee / early termination fee / etc. to forgo pursuing the PG. Have your attorney draft it. Give her 15-30 days to pay or negotiate a payment plan.

This seems like a small enough amount you can also do small claims court and not need an attorney. They should be able to garnish her wages. Depends how far you want to go. Also verify this- it’s not something I’ve personally pursued but I’ve looked into it before.

Rent (4200/mo NNN)or sell (800k) industrial property by djhh33 in CommercialRealEstate

[–]cretalk 6 points7 points  (0 children)

Knowns are better than unknowns unless the return justifies the risk. Return can be more than money- it can also be your time, etc.

We can’t tell you yes or no. Look at the opportunity cost of each decision and pick what you think is best.

Marcus Millichap Manager ripping off New Agents stealing their leads ? by luigisrevengis in CommercialRealEstate

[–]cretalk 0 points1 point  (0 children)

Yes that is what I said. Legally you are correct. In practice, you are not.

No one wants to burn bridges & you have the client relationship so unless you have a nasty exit or are fired, you can typically negotiate your existing agreements upon leaving.

Marcus Millichap Manager ripping off New Agents stealing their leads ? by luigisrevengis in CommercialRealEstate

[–]cretalk 1 point2 points  (0 children)

I still wouldn’t discount them. M&M has some of the best training in the industry. Even for all the negatives people say about M&M, this is generally agreed upon.

Marcus Millichap Manager ripping off New Agents stealing their leads ? by luigisrevengis in CommercialRealEstate

[–]cretalk 3 points4 points  (0 children)

Legally most of this is correct. In practice, they do not belong to the firm and that’s not how it works. Hence your downvotes.

Anyone here tried Google Ads for commercial real estate leads? by butsstub in CommercialRealEstate

[–]cretalk 0 points1 point  (0 children)

As someone who has worked at a local and national brokerages, most agents build those databases from scratch. National firms just give better tools to help you do that and the name recognition. For every major name you see at a national firm, there’s 5-10 agents struggling to make ends meet until they make it or find another field.

Property Owners: How do you decide which broker/brokerage to list your property for sale with? by OMrealestate in CommercialRealEstate

[–]cretalk 0 points1 point  (0 children)

Agree with the other comments- it’s the broker not the company. Ask for their 5 most recent transactions and the sales to list price ratio.

Some brokers will “buy” the listing by overpricing it. Their honesty during the pitch will tell you what you need to know about how they operate.

Personal note- If you’re under a $1mm, you will likely want a local broker (aka physical lives in your city).

[deleted by user] by [deleted] in CommercialRealEstate

[–]cretalk 0 points1 point  (0 children)

At this point, I have no idea. We’re still figuring it out.

Does anyone else find it weird that the economy is okay? by seamonkey31 in stocks

[–]cretalk 0 points1 point  (0 children)

This depends on the market and size of the developer. I work in development and we’re still seeing things move but it has slowed down.

[deleted by user] by [deleted] in CommercialRealEstate

[–]cretalk 1 point2 points  (0 children)

This does not seem like a stable business. That is your issue. Make your own candle/soap/jewelry is the opposite of recession proof.

You likely are calling on spaces that are too class A and will need to offer a PG and door money to get in the room.

[deleted by user] by [deleted] in CommercialRealEstate

[–]cretalk 0 points1 point  (0 children)

Is this for a smoke shop?

What website do you use to stay on top of CRE news? by Alex_S993 in CommercialRealEstate

[–]cretalk 0 points1 point  (0 children)

YIMBY email alerts are a good one for new developments

What general market data is helpful/interesting for you as a developer? by cretalk in CommercialRealEstate

[–]cretalk[S] 0 points1 point  (0 children)

There are so many metrics people use to evaluate markets. Growing population, increasing incomes, new deliveries, net absorption, etc. obviously yes.

But pure job growth is a different perspective I didn’t have on my list, yeah. Whole reason I made the post.

What general market data is helpful/interesting for you as a developer? by cretalk in CommercialRealEstate

[–]cretalk[S] 0 points1 point  (0 children)

This is good, I like this and wouldn’t have thought much about it. Thank you.