Commercial brokers are also called income property brokers and specialize in income-producing properties, such as apartments, office and commercial buildings, retail stores and warehouses.
In this specialty, the salesperson is primarily selling financial benefits, for example appreciation, income, mortgage reduction and tax benefits.
To be successful, a commercial broker must be very adept in mathematics, know how to finance transactions and keep informed about current tax laws. Having a sense of what makes a good investment, so you can assist your client, is also desirable. Knowing about the potential growth possibilities, learning about future land use and such information from local counties, will provide expert assistance to your client.
Commissions earned in this business are less frequent but in larger amounts. The time involved to complete a commercial transaction is longer than for residential properties and breaking into the business takes longer.
The working hours involved in commercial real estate are closer to regular business hours than those for residential sales. Most states require a commercial broker to complete specialized course work and a commercial brokerage license.