I’m also not saying that a commercial broker could jump right in and sell a house that easily. It works both ways. The biggest difference is in the contracts. Each state has different laws, and in the business sector they are much different and more exact. Chapter 1 states many of the reasons why residential agents can’t make it in the commercial industry. Expertise is needed in many, many areas of commercial real estate. You can’t step right in and broker a sale. There are agents who practice both and that is different. They were trained in both and have vital experience in both. But your relative who’s sold a couple of houses isn’t trained in the commercial side. If you meet a broker and are unsure, ask about the past sales they brokered. You want to get a tenant representative that will represent you on a purchase. Don’t use the owner’s broker, as they are not impartial. Get your own broker, who is also not impartial, to make it even. Ask them how many deals they’ve been a part of, which partners they canrefer you to (layers, lenders, inspectors), and how much experience in your specific industry’s property they’ve had. It probably won’t make a difference if you need office space and they’ve been specializing in warehouses, but make them prove it to you.
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