Breaking Into Commercial Real Estate: Lessons for New Agents

Marshall Cressall (00:00)
I think more or less just not giving up. A lot of people give up in commercial really fast. They actually don’t know how hard it is to get into. I was the same way. I’m like, this is gonna be easy. The first one, like the first week I was working, his name’s Blake. I was working with him. I brought in a lead and I’m like, I’m gonna make so much money, this is gonna be so easy. And then the deal fell through. I’m like, this is actually gonna be more difficult. And then

Just learning everything is like a foreign language. And you just gotta stay consistent. And if you just keep doing it, eventually we’ll pay off.

Scott Bursey (02:04)
Welcome back to the Real Estate Pros Podcast Powered by Investor Fuel. I’m your host, Scott Bursey. Glad you’re with us, and we are absolutely delighted to be joined by Marshall Cressall today. Marshall is a rising agent at Presidio Real Estate in Utah, who has made a transition from his residential roots to the fast paced world of commercial real estate. Despite a detour

From his initial path as a collegiate soccer player, Marshall’s pivot has been fueled by a relentless drive to master the complexities of commercial leasing. Listeners, you can expect to learn how to navigate market shifts and the grit required to build a lasting legacy in the commercial space. Marshall, welcome to the show.

Marshall Cressall (02:50)
Thank you for having me.

Scott Bursey (02:51)
It is awesome having you here, Marshall, and to help our listeners get up to speed. Please give us the ninety second highlight reel if you will, of how your career ec ignited and where you’re pouring your fuel now.

Marshall Cressall (03:04)
My career first started out just college, got a concussion, came back. My grandpa’s he owns a couple of rentals. He’s like, No what, just try out real estate. You flipped cars before, might as well do it with houses, you can get paid more. So I’m like, Okay, might as well. And then after doing some residential, I met with some commercial agents and they’re like, just go full out with the commercial. It’s a lot better and a lot less emotion.

Mm yeah, that’s led me to hear.

Scott Bursey (03:31)
Man, that is a really fascinating journey. And you know, what caught my attention about you, Marshall, was the way you’ve been able to leverage the high stakes competitive mindset you honed from your early days into the world of commercial leasing. It’s impressive to see how you’ve adapted so quickly. And really expanding on that, looking at your transition from

residential to commercial, what do you think is the biggest natural strength that has helped you adapt so quickly?

Marshall Cressall (04:52)
I think

more just from past being with soccer. I’m just wanting to win, wanting to more or less compete and just do things that challenge me.

Scott Bursey (05:01)
And does that competitive drive from your soccer background still fuel your daily prospecting efforts?

Marshall Cressall (05:08)
yeah, for sure. Every single day. And then trying to incorporate other athletics into it, trying to help them expand. I think’s more the exciting part.

Scott Bursey (05:17)
I love that. And curious to know, when you first dove into commercial leasing, what was the biggest skill gap you had to bridge immediately?

Marshall Cressall (05:26)
I think main thing is just understanding leasing, because there’s base rent, then it goes into single net, triple net, modified gross, just all of that. I think that was the biggest thing. I didn’t know that off the bat. just going through all of that. It’s so much more than you actually think it is. You think you just, it’s a little bit of rent, sign a couple contracts, you’re good to go. But

Takes a long process. You gotta bring in some attorneys to review paperwork, but that’s a fun process.

Scott Bursey (05:53)
Are you finding that the technical side of commercial contracts is getting easier the more you lease?

Marshall Cressall (06:01)
Yeah, for sure. At first with the other agents, they’re like, it’s a lot less paperwork. It’s a lot easier. And I’m like, Okay, that’s pretty good. And then first lease came in. It was like forty five pages. So the regular like residential, that’s only a couple. And I’m like, geez, that’s a lot more intense than they were actually telling me, but going through a little bit more of it, it’s a lot easier than the first one.

Scott Bursey (06:24)
That makes a ton of sense. Keeping that learning curve steep is is really the ultimate key. And Marshall, thinking about the landscape, given the current state of the market, where are you seeing the most untapped opportunity for new agents entering commercial today?

Marshall Cressall (06:41)
think most untapped is probably just leasing. Most people are looking to expand their company, not really buying. And that’s just the main thing. Even talking to other residential agents, they’re like, I know this guy that owns property, he wants to lease it, do whatever. I think that’s the main most untapped at the moment with the current market.

Scott Bursey (07:02)
Do you think focusing on retail or industrial is a smarter play for a new person right now?

Marshall Cressall (07:07)
I think more of retail is a smarter move. So could be a little easier just depending on who you have on your team and what their background is. And more or less depending on the retail or industrial what kind you’re trying to do.

Scott Bursey (07:22)
And digging a bit deeper into the challenges, what’s the biggest hurdle or threat you faced while building your initial book of business in Utah?

Marshall Cressall (07:32)
The first initial one is trying to get in contact with commercial agents. As for like residential agents, they’ll answer the phone whenever. But commercial, it’s more nine to five. So if you call them at like five thirty, you’re not getting an answer. Or like being me as a newer agent, like if they don’t recognize your phone number, they won’t pick up. Or if they think you’re not like experienced enough in the transaction, they won’t work with you.

So sometimes I have to have the guy I work with reach out to them or do most of the dirty work and I just have to follow him along.

Scott Bursey (08:04)
Always fascinated to hear the process. how do you keep your focus sharp when you’re juggling learning a new asset class while actively leasing properties?

Marshall Cressall (08:14)
I think main thing is just working towards a goal mainly. I’m wanting to expand from leasing, but the main thing is trying to learn that right now the best I can and eventually grow from that. And yeah, just try to build the best connections to get me into the realm I want to get to.

Scott Bursey (09:13)
How do you balance the education versus the production?

Marshall Cressall (09:17)
The education has been easier because the market this year has been pretty terrible. So it’s been easier to squeeze that in. It’s been picking up though. So it’s made it a little bit more difficult to try to learn and work the same time, but being most of the time it’s nine to five in the evenings. You don’t really get bugged. So it makes it easier to do it then.

Scott Bursey (09:39)
And I’ve got to ask you this. I’m real curious. What does your professional network look like right now?

Marshall Cressall (09:46)
more or less just going to other brokerages, trying to build connections there, trying to meet everyone I can through my brokerage, and main thing is just network is your net worth. So just trying to meet as biggest people I know and try to build through their network as well.

Scott Bursey (10:03)
Thanks for giving us that window into your world. And fascinated to know if you could tell yourself, Marshall, one thing to accelerate your career back when you were, let’s say, flipping cars, what would save you the most time in trial and error?

Marshall Cressall (10:21)
I think

Finding the right team as fast as you can and then just taking the leap as fast as you can as well. Flipping cars is a lot easier just because it’s not much of a risk. So people are more willing to take it. But I think just once I was surrounded by the right people, it made the rest of the process easier.

Scott Bursey (10:41)
Having a powerful team in place. That makes so much sense. And Marshall, you have given us a lot of really good words of wisdom today. Is there anything else that you could leave with our listeners? Any additional golden nugget or two?

Marshall Cressall (10:57)
I think more or less just not giving up. A lot of people give up in commercial really fast. They actually don’t know how hard it is to get into. I was the same way. I’m like, this is gonna be easy. The first one, like the first week I was working, his name’s Blake. I was working with him. I brought in a lead and I’m like, I’m gonna make so much money, this is gonna be so easy. And then the deal fell through. I’m like, this is actually gonna be more difficult. And then

Just learning everything is like a foreign language. And you just gotta stay consistent. And if you just keep doing it, eventually we’ll pay off.

Scott Bursey (11:29)
Solid words right there. And for those of our listeners that want to keep this conversation moving, stay in your lane or collaborate with you on future deals, what is the best way for them to reach you?

Marshall Cressall (11:41)
You can reach me through Facebook, Instagram. My LinkedIn is growing a lot more. I’m trying to build more connections through there. I’m finding it easier to build the network through there.

Scott Bursey (11:53)
Marshall, thank you so much for joining us today on the Real Estate Pros Podcast.

Marshall Cressall (11:57)
Thank you very much. Thanks for having me.

Scott Bursey (11:59)
This has been just a great conversation. And to our listeners, we appreciate you. If you receive value from today’s episode, please subscribe. We’ll be fueling your tanks with a lineup of elite guests, just like Marshall Cressall, who are accelerating and setting the pace for the rest of the industry.

Until next time, keep your standards high and your vision clear. We’ll see you in the next episode, everyone.