If you sold or purchased a house, there is a good chance a residential agent assisted you. If you are a business owner or an investor, then you most likely interacted with a commercial broker at some point.
Both residential and commercial salespeople have several things in common. Both need to be licensed with the state, both use real estate contract forms, and both receive a commission as payment for their work.
However, there are many differences not only in the types of real estate handled, but what each does, how they stay on top of the market and the resources available to them.
Selling and Leasing
Commercial brokers sell and lease commercial real estate. Investment real estate such as a retail storefront or industrial building has tenants who come and go. Property owners usually use the services of a commercial broker to secure a new tenant.
Residential agents usually only sell houses or help buyers purchase a home.Read More