Objectives: After taking this class students will be able to:

•

Recognize and distinguish between a commercial transaction and a residential transaction.

•

Understand the basic premises of the license law which licenses the brokerage of commercial real estate.

•

Understand the contents of a commercial listing agreement for either a lease or purchase.

•

Understand the purpose of a Letter of Intent & Confidentiality Agreements.

•

Understand the contents of an industry purchase contract for either a lease or purchase.

•

Understand why there is not an industry commercial lease form.

•

Understand and apply compensation contract concerns in daily practice.

•

Understand the disclosure requirements in a commercial transaction and to appreciate and apply general concerns in a commercial real estate transaction that do not occur in residential transactions: ADA concerns, commercial tax concerns, long term agreements, assignments, the role of an attorney in a commercial transaction and the varied tools utilized by commercial practitioners, income/ expense reports, rent tolls and sub leases.