Will Cornish, an associate, works closely with Danny Mantis, focusing on the northwest communities of Chicago. He has a vast background in market research and a passion for real estate allowing him to cater to clients and best accommodate their needs. However, Cornish didn’t start out in the commercial real estate market, nor did he ever think of making a change so early in his career. He began his career in the property management sector, however, as things were unraveling at his prior employer he began looking elsewhere.
“I always knew I wanted to transition to a brokerage, but I never imagined the transition going how it did,” said Cornish. “My prior employer was losing our building and he gave me a sort of warning, so it definitely kick-started my transition into commercial real estate.”
Coming to Kiser Group without much brokerage experience Will stepped up to the plate and learned fast. He leaned into his experience giving tours and showcasing properties. “I like interacting with people and being out in the field,” said Cornish. “I needed to learn a lot but with touring I got it. It’s so fun and interesting, you get to see how people live.”
But being in the real estate industry doesn’t come without its challenges. For example, the battle between residential and commercial real estate brokerages. Working together and collaborating is great, however, it proves to be difficult especially when the standards and expectations are different.
“Our fees vary on how big the sale is but for residentials brokers it’s just a flat fee,” said Cornish. “They’re used to half and half and for us [commercial brokers] it depends. Commercial real estate is much more analytical. If a residential broker made a sale for a million dollars property it would be a six percent flat fee, but if a commercial broker made the same size sale it could be 1.07 percent.”
Residential and commercial real estate are not only different when it comes to numbers and percentages. The tactic of selling in residential has a lot more ‘fluff,’ said Cornish. “There isn’t much persuasion to an investor because they’re not looking for a home like in residential real estate. They’re investors. It’s more numbers, there’s no ‘fluff.’”
Despite the daily challenges and difficulties in real estate and the complication of working with other brokers it is important to stay focused and self-directive, said Cornish. “Nothing is ever certain until you receive your paycheck. Predict uncertainty and prepare for the worst. When you are planning something out and you think it’s going to go this way, keep in mind what if it goes these 10 other directions? How do I counter that?”