News: Northern New England
Posted: April 1, 2022
New Hampshire CIBOR president’s message: Specific education makes a difference - by Scott Forte
The weather is warming up, and New Englanders are coming out of hibernation. We are pleased to announce our first Charity Golf Classic will be coming up in June. The registration deadline is April 30th, so be sure to put your foursome together soon!
Education is a staple of quality work and service to customers of every industry. Commercial real estate is no exception. NHCIBOR works hard to help build a strong commercial real estate industry, not only in NH, but throughout New England in Maine, Massachusetts, and Vermont through NECPE (The New England Commercial Property Exchange). This year we have been working hard to help strengthen the education of our commercial Realtors by rolling out many new educational courses. Some of the courses have already been approved for CEU’s (Continuing Education Units), by the NH Real Estate Commission; others are in the works.
For years, CEU’s have been generic, and mostly focused on residential real estate. For commercial real estate agents, there is a much different process for the valuation of property and the way deals flow; from how they start, to how they are negotiated, and eventually put on paper. When deals are under contract the process is completely different than residential real estate; and even within the CRE industry there are many different verticals agents can specialize in from industrial, to retail, to large scale new construction mixed use projects, to redevelopment in historic districts. Education opportunities, especially that count for CEU’s, are all but non-existent that are specific to commercial real estate. We are working hard to change that. This year we will be rolling out many new educational courses with titles such as “Introduction to Commercial Real Estate”, “Types of Commercial Real Estate”, “How to write an LOI”, “Understanding Commercial Contracts” and “Preliminary Planning - External Influences on Commercial Real Estate” which is approved for 3 CEU’s and will be held in the second week of June taught by the civil engineering firm VHB.
By offering commercial specific CEU’s we are better able to serve the commercial real estate industry, we are better able to train new agents, and help agents avoid costly mistakes with potential legal or financial consequences for their clients. It’s important for all real estate agents to understand: there is a big difference between residential and commercial real estate.
We are actively seeking affiliate members, service providers of the commercial real estate industry, to help us design courses to help agents better serve their clients. If you have an idea for a continuing educational course please reach out to our educational committee. Our goal for 2023 is to have a full slate of approved CEU’s for CRE agents to satisfy the renewal requirements of the real estate commission. While education of any kind can be helpful, it’s specific education that makes the ultimate difference. New Hampshire can be the example for the entire commercial industry to follow; and we plan to be.
For the Charity Golf Classic in June, regiester here
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Scott Forte is the 2022 president of the NH Commercial Investment Board of Realtors, Bedford and is a commercial Realtor with Century 21 North East, Salem, N.H.
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