Frequently Asked Questions
While we cannot give professional advice, we share these FAQs hoping the answers will help you as you embark on your commercial real estate career, or as you consider the purchase of our products. Please send us your questions at firstname.lastname@example.org; we will consider adding them to our FAQs section.
- Will the PCE Guide books be all I need to become a successful commercial real estate agent?
- I am a successful residential agent just trying to expand my menu of client services. How can PCE help me?
- I am a new commercial real estate trainee. How long before I should start making the “big bucks”?
- I only have a salesperson license. Can I be called a broker?
- Do I need a special license to become a commercial real estate leasing agent?
- I am a residential agent. Can I also act as a commercial real estate leasing agent?
- I am new to the business and working under a senior broker. What kind of commission splits should I expect from this broker?
- I am a solo real estate practitioner. Do I need a mentor or senior broker to start my commercial real estate leasing business?
- Where can I find a table with standard real estate commissions for commercial leases?
- Do I need to be a financial whiz to analyze and compare commercial real estate leases?
- What kind of training is available to new commercial real estate leasing agents beyond the PCE Guide books?
- How do I know what leasing process (standard versus fast track) to apply when representing a tenant?
- Some of your samples and forms are very detailed. Do I need all that information every time I work on a commercial real estate transaction?
- A friend of mine is new to the business; can he copy or download sections of the Guide books or any other PCE materials?
Our Guide books will give you a powerful knowledge base, but you will also need to work on the other aspects of your career development as an agent. This means developing strong presentation skills, mastering cold calling techniques, putting together a business plan, targeting specific markets, understanding specific target client industries and staying motivated.
Congratulations! You are already in the game and know how to service clients and get results. These traits will most definitely give you an edge over someone just starting. As such, The PCE Guide books and online resources will arm you with the added knowledge and tools needed to start implementing commercial real estate leasing assignments within a very short time frame.
The commercial real estate industry is highly competitive. New agents require adequate training and resources before they can make a good living at it. Some of the national commercial real estate firms estimate that it takes two years for a new trainee to become a productive agent. This estimate has been fairly accurate based on past experience. However, the PCE Guide books are specifically designed to shorten this time frame and help you start making money sooner.
In the commercial business, commercial real estate agents are often referred to as “brokers” whether they are licensed salespeople or brokers. In our Guide books we refer to a licensee working for an employing broker as an “agent”.
In most states, any licensed real estate salesperson can act as a commercial real estate leasing agent. Check your state laws to confirm this.
Yes. In many markets, real estate agents perform a wide variety of services, including commercial real estate leasing and sales.
Internal commission splits among agents or within brokerage teams are always negotiable. However, learning the ropes from a senior broker and developing a solid foundation in the business can be invaluable to the new agent. Ideally, any commission sharing agreement should keep the senior broker motivated to continue with a mentoring role.
The demands of this profession and the highly competitive nature of the industry make it imperative that you arm yourself with all the necessary tools to succeed. Having our Guide books will give you a powerful knowledge base, but you will also need all the help and support that you can get from experienced agents and brokers.
There are no standards for real estate commissions. Although some real estate companies have a suggested commission schedule for different types of transactions, commissions will often vary from market to market, by property type, and by transaction type. We include some examples in the resources section of the website but remember, all commissions are negotiable.
For the comparison of most leases and sales transactions, a simple mathematical calculation is all that is needed. For more complex transactions, a more detailed or sophisticated analysis may be needed. Our website resources include basic spreadsheet templates and sample calculation spreadsheets that can be used by most, as well as links to sources of spreadsheet programs and training courses in lease financial analysis.
Historically, commercial real estate brokers, trainees and others new to the commercial property business have learned primarily from other professionals through an informal apprenticeship or mentoring process. Some companies provide training for new agents, but it seldom includes a formal commercial real estate leasing or sales course. The PCE Guide books leverage the time of brokers acting as mentors and instructors by providing a powerful self-study tool that complements and expands most existing commercial real estate training programs.
Each client has specific requirements that make every tenant representation process unique. The two types detailed in the guide are comprehensive but should be used to the extent needed to accomplish the client’s goals most efficiently. So, listen to your client, learn about your own market practices and use the most applicable items listed at each step of either process.
No. Our forms, samples and downloads are comprehensive documents designed to cover more items and situations than what a typical assignment might require. However, keep in mind that even smaller deals may have particular issues that may need to be addressed. An example may be a small tenant that needs a lease termination clause and specialized interior improvements. Because of this, our forms, samples and downloads are designed to be customized to match your client’s needs and local market practices.
All forms, guides, and materials supplied, including all PCE Website Materials, are proprietary to PCE and may not be provided to any other party, either directly or indirectly, in any form or medium. PCE grants any user permission to use the forms and other materials supplied in furtherance of their profession and business. Any unauthorized duplication of these materials is copyright infringement and punishable by law.