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So I talked a little bit about becoming an agent, becoming a commercial real estate specialist, but what’s the first step you have to take in New York City?
In New York City, we are an attorney state, so the wonderful part about our job is that we manage a transaction up to the contract. Different parts of New York, like upstate, are a little bit different they do do contracts but in New York City specifically, you, as an agent needs to learn how to structure a deal, how to write an LOI, if you’re doing commercial leases, how to write an offer letter and how to negotiate.
So where do you learn that?
Now you would think you learned that in real estate school but that is absolutely not true. You learn that with a great mentor at an amazing brokerage. Depending on how you get into the game, as I talked about before, you can be a junior agent on a team or you can be an independent broker at a virtual company, you need to decide how much hand holding you need to learn all the different parts of the game, because in real estate school you learn about needs and bounds, you learn about all kind of things you will almost never utilize in a day-to-day transaction.
You need to learn how to be an agent, so it’s very important when you get started, you need to go to a place that’s going to teach you how to be the most effective agent and how to succeed in this business today.