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Essential Tools and Resources for New Texas Commercial Real Estate Agents

Published: 08-22-24 Category: Marketing

Specializes in providing actionable insights into the commercial real estate space for investors, brokers, lessors, and lessees. He covers quarterly market data reports, investment strategies, how-to guides, and top-down perspectives on market movements.

Whether you've just earned your Texas real estate license or are considering a move from residential to commercial real estate, you're looking at a career that promises to be both exciting and challenging.

The Lone Star State is home to a dynamic business and real estate market powered by Texans like billionaire Ross Perot, Mary Kay Ash, and real estate developer Angus Wynne.

Real estate developer Trammell Crow, born in Dallas, Texas, eventually became the nation's largest private real estate developer.

Opportunities for commercial real estate (CRE) agents range from sprawling metropolitan areas like Houston, Dallas, and Fort Worth to a growing array of industrial parks.

The two largest:

Great Southwest Industrial Park, a 7,000-acre park with 1,600 tenants within 82,227,715 square feet.
AllianceTexas, offering 32,282,968 square feet to tenants on 17,000 acres. It's divided into six industrial sectors.

Entering a CRE market like Texas means starting with the right tools, organizations, and resources. This article will provide you with plenty of details, so you'll be able to compete within a uniquely challenging state.

Networking is one of your most important strategies for building business relationships.

Professional Organizations and Networking Groups

You'll want to learn more about these groups, how they can help you build your business, and how you can meet possible mentors.

Texas REALTORS® Commercial Committee: This committee within the Texas REALTORS® Association provides valuable resources, education, advocacy, and networking opportunities for its members.
CCIM (Certified Commercial Investment Member) Institute: With four chapters in major Texas cities, the CCIM Institute provides education and related resources for CRE professionals.
SIOR (Society of Industrial and Office REALTORS®): SIOR is a global organization with active chapters in Texas, providing networking and professional development opportunities for top-tier commercial real estate professionals.
ULI (Urban Land Institute): With district councils in Austin, Dallas-Fort Worth, Houston, and San Antonio, ULI offers education and networking events focused on responsible land use and creating sustainable communities.
BOMA (Building Owners and Managers Association): BOMA has local associations in major Texas cities, providing education, advocacy, and networking opportunities for professionals in commercial real estate.

In addition to the CCIM Designation, you may want to consider these additional courses.

Educational Resources and Certifications

The Texas Real Estate Commission (TREC) is the primary source for licensing requirements and continuing education (CE) for all real estate professionals in Texas.

It's helpful to visit this site periodically to read details of the latest CRE news and TREC meeting minutes.

Texas A&M University's Real Estate Research Center: You'll find regular news articles about CRE, market data, and educational programs specific to Texas real estate. The Research Center also publishes a quarterly CRE report, plus articles about factors affecting CRE and the state's overall economy.
IREM (Institute of Real Estate Management): Offers specialized certifications like the CPM (Certified Property Manager) and courses in property management. This could be an option if you would like to make property management your second income source during your first years in CRE.

No matter which certifications you pursue, you'll need an online system that can help you manage your role as a CRE agent.

Here are some to consider.

Technology Tools and Software

Managing your prospects, clients, and property listings requires a specialized Customer Relationship Management (CRM) platform.

Look for a system that simplifies all of your interactions with prospective and current clients during each stage of a CRE sales or leasing transaction.

CRM technology helps you stay connected to customers while you build lasting relationships and referral sources.

You'll also want to locate a system that houses accurate, up-to-date commercial property data within your sales territory.

Here are some technology tools popular with CRE agents and brokers.

Buildout: A marketing and CRM platform designed specifically for the commercial real estate scene. Buildout's sales pitch: “Unleash your true potential as a broker and dominate your market by selling or leasing top dollar listings faster and with far less effort. Your parents are going to be (really, really) proud.”
REIPro: While this system is primarily for the use of real estate investors, CRE agents find it useful for locating properties of particular interest to investors. As an agent, you can also use REIPro to identify qualified leads and new opportunities. You may also qualify for a 14-day free trial.
MyEListing.com: A commercial real estate platform that aims to democratize the CRE market. List and browse commercial property listings for free, unlock local demographics, access local market intelligence, and position yourself for success with our Client Connection Program.

While prospecting for your initial leads is one of your most important skills, you'll also want to learn how accessing and researching market data and other intel can help you build the specialized knowledge prospects find valuable.

Market Data and Research Resources

Here are some sites that can help you do your homework, Texas-style.

JLL Research: Provides comprehensive market analysis and forecasts for Texas commercial real estate.
Cushman & Wakefield MarketBeat: Delivers quarterly reports on office, industrial, and retail markets in major Texas cities.

Something else that you'll need to familiarize yourself with is the real estate laws that are uniquely Texas.

While most of these apply to residential real estate, commercial agents should be familiar with them as well.

For example, did you know that Texas military veterans may qualify for a 10-acre land loan in addition to a VA loan?

Here are two last websites to bookmark for future use.

Texas Constitution and Statutes: Understanding relevant sections of this code is crucial for commercial real estate transactions. Search by text or date.
Local Zoning Ordinances: Familiarize yourself with zoning regulations in the areas where you'll be working, as they can significantly impact commercial property use and development.

Working with a qualified CRE attorney will help you stay abreast of both future and existing real estate laws.