I am a newly licensed Real Estate Agent

Question

A real estate investor friend of mine is looking to buy a small apartment building consisting of no more than 5-10 units.

My question is can I be the agent on this deal or is that reserved for Commercial Real Estate agents only? Also, if it is, how do I go about being able to sell commercial properties?

Answer 1

 

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Answer 2

There's no such thing as a deal being "reserved" for commercial brokers.  You do however owe a duty to your client to be proficient in any deal you represent them on.

Try to refer this deal out to an experienced commercial broker or ask to partner with one to learn how it's done.  A previous posted mentioned a CCIM and that's a great program.  Check http://www.ccim.com/members/professional... for a local CCIM designee.

Answer 3

Ask your supervising broker if they handle commercial property deals, and how to go about it.  You should at least get a finder's fee, so do not give name or details until you get an agreement on how the commission split or finder's fee will go.

Answer 4

You won't find a residential loan for more than 4 units, so you'll have to get tied to a commercial real estate broker. And she's going to tell you to get certified by CCIM.

You might work a finder's fee if you approach a CCIM commercial realtor.

Answer 5

small apartment buildings usually fall under residential agents.