References
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Business and Demographic Characteristics of NAR Commercial Members
- The typical commercial member has 25 years of real estate experience, 20 years of experience in commercial real estate, and has been a member of NAR for 18 years.
- They had a median of 7 sales transactions in 2017, down from 8 in 2016.
- Fifty-one percent of NAR’s commercial members work in sales and 16 percent in leasing.
- Forty-nine percent are brokers and 29 percent sales agents.
- The median age of a commercial member is 60 years old.
(Source: 2018 Commercial Member Profile, National Association of REALTORS®, 2018)
For more commercial market data, go to NAR’s Commercial Research Page
Succeeding as a New Commercial Broker
Networking Alone Won't Help You Succeed In Commercial Real Estate—Cold Calling Can Help(link is external) (Forbes, Sep. 16, 2022)
“Offer value on every call. You should provide one of the following three things on each call: an idea, a solution or an opportunity. An example in commercial real estate could be an opportunity on a sublease, a dead storage option, a sale leaseback or an expansion possibility.”
How to Become a Commercial Real Estate Broker, and Why(link is external) (Connect CRE, Jul. 19, 2022)
“With so many types of commercial properties, from medical office to net-leased industrial, PropertyShark advises specializing to help narrow your focus and develop a deeper understanding about your niche. Specialization also helps you better target your intended clients and build your reputation in your chosen field. You can select one of the “five food groups” of commercial properties—office, industrial, retail, hotel and multifamily—and then further sub-specialize in specific uses.”
Top 5 Lessons for a New Real Estate Commercial Broker(link is external) (Crexi, Sep. 24, 2021)
Working for a big player in your market is an excellent way to learn about the commercial real estate business. However, be prepared to do grunt work and spend a lot of time “dialing for dollars” and chasing down leads. It’s hard work, but with enough perseverance, your efforts will pay off in the long run.
How to Become a Commercial Real Estate Agent(link is external) (Indeed, Mar. 19, 2021)You can also start your career with a brokerage firm focused solely on commercial real estate. These firms often offer salaried training programs for employees, enabling them to focus on learning how to manage and perform commercial transactions. In this situation, you would not have to worry about finding clients and making deals right away. Due to these firms' attractive benefits and commercial focus, you may find it highly competitive to find a job at them.
What Does a Commercial Real Estate Broker Do?(link is external) (Millionacres, Feb. 4, 2021)
Commercial agents and brokers serve as liaison between multiple parties in a commercial transaction, know extensive demographic and location information, and provide in-depth financial analyses to determine whether a property is good for their client's bottom line.
Deep Dive: Careers in Commercial Real Estate(link is external) (Adventures in CRE)
Start reaching out to people today in your desired role type and property type. Ask them what they do on a daily basis, what they like and don’t like about their job, and for any advice on how to get to where they are. You’ll be amazed at how willing people in CRE are to take your call and help you along the way.
How to Succeed as a Commercial Real Estate Agent(link is external) (Rethink CRM)
Over time, though, you need to find a specialty that you’ll commit to and then focus on developing yourself as a specialist in that niche. Until you do that, your prospects of closing deals in a certain market will always suffer compared to someone who focuses on making deals in that market and that market alone.
Commercial Real Estate: News and Trends
How Interest Rate Hike No. 5 Affects CRE(link is external) (Commercial Property Executive, Sep. 22, 2022)
“While sales numbers may decrease, certain sectors such as industrial and life sciences can remain strong. A record 551 million square feet of industrial space were absorbed in the 12 months ending in April, according to Marcus & Millichap.”
Office Values May See Large Slump but Avoid Sudden Deterioration: MBA Report(link is external) (Nationalmortgagenews.com, Sep. 12, 2022) E
“Companies would use about 80% of the office space compared to pre-pandemic levels, and the values of different properties would vary depending on their location and type of property. Offices with "premium" space for collaboration, for example, would be more valuable than lower-quality spaces. But the amount of long-term office leases outstanding today means that buildings will not "be empty overnight," said Matthew Anderson, managing director at the commercial mortgage analytics firm Trepp.”
Advancing Diversity In Commercial Real Estate(link is external) (Forbes, May 13, 2022)
“Skillful mentoring is at the top of my list as the best way to achieve the sort of durable social change for people of color that can come about through wealth accumulation in entrepreneurial real estate investing and development.”
2023 Commercial Real Estate Outlook(link is external) (Deloitte Center for Financial Services, 2022)
“Consider the benefits that external service providers and proptechs can provide to existing operations. Leveraging a third party to cover back-office functions could allow CRE firms to spend more time enhancing core services. Innovative technology partners can also differentiate frontline
offerings from competitors.”
Commercial Real Estate Market Trends and Outlook (National Association of REALTORS®)
This quarterly report combines and replaces the Commercial Real Estate Market Survey and the Commercial Real Estate Outlook. If focuses on commercial transactions of REALTORS® and affiliate members, and opportunities and challenges facing commercial practitioners.
Resources for Getting Started from NAR and its Institutes, Societies and Councils
NAR Commercial on Twitter @commsource(link is external)
1.4 million members engaged in all aspects of commercial and residential real estate
NAR’s quarterly commercial real estate publication
CCIM Institute(link is external)
The CCIM Institute confers the CCIM designation and is an affiliate of the National Association of REALTORS® (NAR)
Commercial Investment Real Estate Magazine(link is external)
Magazine from the CCIM Institute
Institute of Real Estate Management(link is external) (IREM)
The source for education, resources, information and membership for real estate management professionals
Journal of Property Management(link is external)
Bi-monthly magazine from IREM with comprehensive coverage of trends and issues affecting all property types
REALTORS® Land Institute(link is external)
RLI confers the ALC Designation and is an affiliate of the National Association of REALTORS® (NAR)
Society of Industrial and Office REALTORS® (link is external) (SIOR)
SIOR confers the SIOR Designation and is an affiliate of the National Association of REALTORS®
SIOR's quarterly magazine which addresses the concerns of industrial and office real estate practitioners
Commercial-Specific Resources from NAR and its Institutes, Societies and Councils
NAR has a broad array of resources to help you provide the best service to your clients, and to be the best in your field. From education to advocacy efforts, from networking to property data – NAR works to help you be more profitable, while protecting the commercial real estate industry.
Details on the variety of Commercial Institutes, Societies and Counsels.
Here you can download a handy guide with an overview of Commercial Services for NAR Members.
Make sure your NRDS record is up-to-date and includes at least one commercial specialization in the “Field of Business” to ensure timely delivery of the commercial-related communications.
Take advantage of the commercial-focused research found online at nar.realtor, including the Commercial Real Estate Market Survey, the Commercial Lending Survey, the Commercial Member Profile and much more.
Commercial Resources for Associations
NAR research shows approximately thirty percent of REALTORS® will complete one or more commercial transactions each year. NAR’s Commercial staff team will help you identify services to share with your members, connect you to resources, and help you develop a plan to grow your local commercial membership.
Courses, Designations and Events
Explore the many educational opportunities available through these Institutes, Societies and Councils, all part of NAR. There is an array of classroom and online learning options for your convenience.
eBooks & Other Resources
eBooks.realtor.org
The ABCs of Real Estate Investing(link is external) (eBook)
The Art of Commercial Real Estate Leasing(link is external) (eBook)
The Broker's Practical Guide to Commercial Leasing(link is external) (eBook)
Commercial Mortgages 101(link is external) (eBook)
Commercial Real Estate(link is external) (eBook)
Commercial Real Estate Finance(link is external) (eBook)
Commercial Real Estate Investing(link is external) (eBook)
Commercial Real Estate Investing in Canada(link is external) (eBook)
Commercial Real Estate Investment(link is external) (eBook)
The Commercial Real Estate Revolution(link is external) (eBook)
The Complete Guide to Buying and Selling Apartment Buildings(link is external) (eBook)
The Due Diligence Handbook for Commercial Real Estate(link is external) (eBook)
A Guide for Commercial Real Estate Agents(link is external) (eBook)
The How to Add Value Handbook for Commercial Real Estate(link is external) (eBook)
Negotiating Commercial Leases & Renewals for Dummies(link is external) (eBook)
Principles of Real Estate Syndication(link is external) (eBook)
Secrets of a Commercial Mortgage Broker(link is external) (eBook)
Books, Videos, Research Reports & More
As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
The Commercial Real Estate Tsunami: a Survival Guide for Lenders, Owners, Buyers and Brokers(link is external) (Hoboken, NJ: Wiley, 2011) HD 1394 W85
After the Fall: Opportunities and Strategies for Real Estate Investing in the Coming Decade(link is external) (Hoboken, NJ: Wiley, 2009) HD 1375 B45
Commercial Real Estate Investing: a Creative Guide to Successfully Making Money(link is external) (Hoboken, NJ: Wiley, 2008) HG 4521 D34
Shift Commercial: How Top Commercial Brokers Tackle Tough Times(link is external) (Austin: TX, Rellek Pub. Partners, 2011) HD1375 N78s
Success Strategies for Commercial and Multifamily Real Estate Careers(link is external) (Management-Mentor, 2010) HF 5438 B74ss
The Fundamentals of Listing & Selling Commercial Real Estate(link is external) (West Conshohocken, PA: Infinity Publishing.com, 2007) HF 5438 K26
Systems for Success: the Complete Guide to Selling, Leasing, Presenting, Negotiating & Serving in Commercial Real Estate(link is external) (Gretna, LA: Pelican Pub, 2007) HF 5438 L66
Have an idea for a real estate topic? Send us your suggestions(link sends e-mail).
The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.