A residential property expert realtor and a commercial property expert realtor are both real estate agents who help clients buy, sell, or lease properties. However, they differ in the type of properties they specialize in, the education and training they need, and the sales and earnings they make. Here are some of the main differences between them:
Type of properties: A residential real estate agent, focuses on selling properties for residential use, such as single-family homes, condominiums, duplexes, or triplexes. A commercial property expert realtor, also known as a commercial real estate agent, deals with properties that are used for business purposes, such as office buildings, shopping centers, hotels, or warehouses. A commercial real estate agent can also sell residential properties, but a residential real estate agent cannot sell commercial properties.
Education and training: A regular realtor does not need to have a college degree, but they need to take training courses and pass licensing exams to become a real estate agent. A commercial property expert realtor is expected to have a college degree in business or finance, as they need to have a deeper knowledge of the economic situation, the market trends, and the financial analysis of the properties they sell. They also need more mentorship and experiential training than a regular realtor.
Sales and earnings: A regular realtor typically makes smaller sales but more frequent transactions than a commercial property expert realtor. A regular realtor’s income depends on the commission they earn from each sale, which is usually a percentage of the property’s price. A commercial property expert realtor makes larger sales but fewer transactions than a regular realtor. A commercial property expert realtor’s income also depends on the commission they earn from each sale, but they may also receive fees for leasing or managing the properties they sell.
