Thursday, March 6, 2008

Go Commercial

While the bad news continues to roll in about residential real estate, the good news is that commercial real estate has not been hit as hard. Realtor.com recently offered some tips from Jerry Chautin, a business counselor with SCORE in Manasota, Fla., on how realtors can get started in the commercial side of the business:

  • Join professional organizations. For instance, attending meetings of the International Council of Shopping Centers and getting to know its developer members can lead to opportunities down the road.
  • Volunteer at trade shows and other industry events. Being visible in organizations where there are people with opportunities to share can lead to good things.
  • Subscribe to trade magazines. Magazines like “Retail Traffic” report on which developers are doing deals and point out the competition.
  • Consider buying prospect lists. Lists are sold by ZIP code and are not necessarily high cost.
  • Take a course or two. The Institute of Real Estate Management and Urban Land Institute are known for income-producing real estate education.

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