For those interested in pursuing a career in the real estate profession, the question at stake is whether to delve into commercial real estate or residential real estate. There are pros and cons to both options. Whereas residential real estate is likely to have more clients and traffic, commercial real estate can offer bigger gains and fewer transactions.No matter which you choose, you should understand the differences between each one. 

In order to become a licensed real estate agent, you must complete the following:

• Take a real estate class that meets the required hours in accordance with your state laws
• Pass the real estate exam administered by your state government
• Find a real estate brokerage firm specializing in either commercial real estate, residential real estate, or both, depending on which you would prefer to specialize in

All real estate agents should always:

• Have an open schedule – it is essential for realtors to be able to show a property based on the availability of their clients.
• Always invest in periodic training – Continuing Education is required to obtain your real estate license. You can find these classes through your local real estate school.
• Create marketing strategies – Utilize social media, your company website, and other real estate search engines to create connections and advertise your properties. It is also common for real estate agents to outsource and use a marketing company to help with their marketing strategies.
• Know your client’s needs – find a property that can meet and exceed their expectations and price point
• Explore other avenues of real estate such as
  • Development
  • Purchasing and leasing
  • Finance
• Know your strengths and limitations and those of your investors.

A career in real estate can be a very rewarding one so long as you follow the proper protocol and keep these suggestions in mind. Following these simple steps will assure you a great start as a real estate agent.

1. Recovering from the downturn in the Commercial Real Estate Market following the COVID-19 pandemic

Throughout the COVID-19 pandemic, the future of commercial real estate has been greatly questioned. The nationwide pandemic has caused worldwide commercial real estate market volatility, a drastic increase in unemployment rates, and various other traumas to our country. Although there had been all this tragedy, there has also been an uptick in economic recovery. Through many government programs, they have prevented our country from going into an economic depression. In less than 5 months the US was able to recover from a 34% deficit. It is obvious that certain markets such as retail, hospitality, and commercial real estate will take longer to recover than others but the road to recovery is on the horizon. 

2. COVID-19 has altered our perception of offices and working in an office environment

It is no secret that millions of Americans are currently working from home and prefer it this way. It will be a while before anyone can return to an office or any kind of normalcy in that regard. It is important to note that office technology is advancing tremendously in efforts to create a touchless environment. What this means is that elevators, sinks, lights, toilets, and more will be automated to increase safety amongst office workers. Without having these communally touched areas, it is easier to assure safety in the office space. These are all inventions that existed pre-pandemic however people are just now realizing the true importance of touchless technology. However the overall goal of getting back into an office space and creating a work environment have caused these products to become very popular among the working class, specifically for business owners. Due to these changes, it is likely that office spaces will be very different once employees can begin returning to work.

3. Office Culture Will Be Back

Working from home was something many people were excited about and it has been a huge adjustment for both employees and employers. Although it has been the way of working lately, it has proved to be less productive than an office environment. Being in an office day in and day out adds a sense of routine and office culture that you just don’t get working from home. It is difficult for employees to draw the line between home and work, which also can decrease productivity. Working from home is not going to disappear anytime soon, as many are accustomed to it and have adjusted accordingly, however many businesses and business owners are noticing the lack of productivity and the negatives of this practice. It is likely that employers will want their employees returning to work in the near future, it is likely employees will begin returning in a hybrid work from home and in-office manner.  

4. Collaborations will be a Priority in the Future

Collaborations and projects are types of work that have majorly suffered from the work at home movement. It is likely in the next few months and or years that offices will veer away from traditional office spaces with desks and computers and transform into living room settings where employees can feel at home. This will encourage real-life interactions among employees as well as boost productivity in projects and collaborations within the office.

5. Moving Forward with Construction 

Due to the pandemic, many industries have been on pause for quite some time. Industries such as construction, development, and permitting. These projects have all been able to move forward with delays in their timeline. On-site safety is a huge concern for all involved in these projects but with those safety measures, contractors have been able to move forward with little delays in their work.

The last year has been full of change and uncertainty. Our lifestyle has been completely altered and we are living our lives in a way that is very different from what we are used to. Throughout all the differences we have endured it is important to remember that long-term principles and real estate investments are as prevalent as ever.

Regardless of temporary news, office buildings and additional commercial real estate will continue to thrive in our culture. It is true that many working Americans prefer working from home, flexible schedules, and increased freedom, and it is very obvious that business owners will need to reevaluate their office use. But, there has been proof in the past of these kinds of historical dips such as the time period after the Great Recession, where the country was in shambles yet after a given time, the commercial real estate market continued to successfully occupy office spaces as well as other commercial real estate entities.

There are several different reasons why offices will continue to prosper after the COVID-19 pandemic. Office space can help employees by providing routine and structure to a company’s work ethics. Here employees can be more productive without outside distractions and also create bonds with their fellow coworkers. These conditions will help to drive employees to work harder and strive to succeed.

There have been similar trends in other industries such as retail. Retail will continue to succeed in the future, there are many aspects of retail that cannot be offered through the internet. Once our society can return to normalcy retail will return to create new spaces to promote brand awareness, creativity, and livelihood. 

It is greatly expected that in the months and years to follow this pandemic that the commercial real estate market will bounce back better and stronger than ever. Now is the time you should be looking into long-term real estate investments, or researching new office locations for your business. Commercial Real Estate has been and will continue to be a beneficial and important aspect of investments, business, and life.