While most real estate professionals specialize in either homes or commercial properties, some operate successfully across multiple sectors. Kerrian Latty has built a practice that covers both residential real estate and business brokerage in Connecticut, New York, and Florida. This dual focus gives her a wide view of investment trends and changing market conditions, insight that is increasingly valuable as both sectors face new challenges.
Early Lessons in Real Estate
Latty’s understanding of real estate started early, shaped by her grandmother’s example in Jamaica. As a child, she watched her grandmother manage rental properties and saw firsthand how real estate income could support a family. “The rent from the red house paid our bills at home, the rent from the blue house was always for vacations,” Latty recalls.
Her grandmother’s story was unusual for her time. In the late 1970s and early 1980s, Jamaican women faced major hurdles opening bank accounts or securing loans. “As a woman, it was really hard to have a bank account. I don’t even think my grandmother had a bank account when I was born in ’78, but by 1980 she was able to buy a couple of houses from her savings, which truly was under the mattress.” For Latty, this instilled both a practical understanding of real estate and a deep appreciation for financial independence. Her grandmother’s philosophy, she says, was simple: “A woman should always have her own pocket money.”
Building a Practice Across Two Markets
Following this example, Latty bought her first home within a year of starting her professional career. “As soon as I got a job, my first day, I got a job in January, by October I bought a house, and then I got into flipping.” Her early investments laid the foundation for long-term wealth and gave her firsthand experience with various types of real estate deals.
Latty’s move into business brokerage began during her time at Fordham University, where she studied economics and built connections outside the residential sphere. The transition was not without challenges—business sales often involve longer timelines. “I hated how long the business broker cycle took, because even under contract, sometimes it takes eight months or a year to close on a business.”
The downturn in 2005 led her to pause active real estate transactions, though she retained her rental properties. The COVID-19 pandemic and the resulting market volatility prompted Latty to return to full-time real estate, this time balancing both residential and business brokerage.
Managing Distinct Client Needs
Working in both sectors requires disciplined scheduling and different mindsets. Latty has developed a system to keep both sides of her practice running smoothly. “My calendar is like my best friend, and I try to go back and forth between certain days,” she explains. On some days, she focuses exclusively on business listings, while on others she is dedicated to residential clients and showings. “I try not to do a Zoom on business today and then go to showings afterwards, because mentally it’s a different mindset, a different type of client.” This structured approach helps her serve a wide range of clients in multiple states without losing focus.
The Business Brokerage Environment
Business sales differ sharply from residential real estate. While platforms like Zillow and the MLS have streamlined home sales, business deals are more opaque. “You don’t really have any go-to websites for businesses, because a lot of owners don’t even realize they could sell a business,” Latty says.
Data shows that most businesses never reach the open market. “A lot of businesses either transfer to a family member or they close. Only 30% of businesses will try to sell, and then out of that 30%, I think 10% do sell.” Latty concentrates on businesses valued between $5 million and $10 million, citing this range as the most likely to close within a reasonable timeframe. “The sweet spot is I try to stay five to 10 million. Those are easy. You’ll close within a year or two.”
Her current listings are diverse, including a DNA testing company, a concrete business in Rhode Island, a New York branding firm with major clients, and a water filtration company in West Hartford. Each deal comes with its own set of complexities.
Financing Hurdles in Business Sales
Securing financing for business acquisitions is far more challenging than for homes. Most business deals are cash transactions, Latty says, because buyers want to avoid the extensive scrutiny and delays of Small Business Administration (SBA) loans. “The majority are cash sales because people don’t like the scrutiny of the SBA.” When SBA financing is involved, deals can take up to six months to close, even though official timelines are shorter. “You need a mortgage, you have like 100 banks to go to. SBA, you got like 50, and everyone in America is trying to get to them. The transaction through them is six months, even though they’ll say 45 days.”
Part of the delay comes from the approval process, which is often handled by a handful of underwriters who may oversee deals across entire regions. “That one guy doing the underwriting is probably underwriting maybe all of New England’s business deals.”
Changing Investment Patterns
Latty has noticed that more investors are moving from real estate into business ownership, especially since the pandemic. “The past two or three years, I’ve dealt with a lot of people coming with 1031 exchanges, because they sold their rental properties. They don’t want to be landlords anymore, but they still want their money to make something for themselves.” Many of these sellers are looking for passive income but prefer businesses over managing tenants.
Buyers fall into two main groups. About half are individuals leaving corporate jobs, looking for more control over their income and work life. The rest are private equity firms or competitors seeking to expand through acquisition.
Educating Clients Across Sectors
Both residential and business clients require significant education, but business buyers and sellers often need more guidance. “The majority don’t understand real estate. The ones that do understand real estate, they’re still lost when it comes to business.” Latty addresses this gap by teaching quarterly classes for first-time homebuyers at the West Haven library and by adding sessions focused on investment property acquisition. She also uses social media to educate, but notes that business listings receive fewer direct responses than residential ones. “If I post a new residential listing, I’ll be inboxed by people who truly want that listing and want to set up a viewing. Business is one or two degrees away—maybe someone’s wife saw your TikTok, or their office manager saw your TikTok.”
Tracking Market Trends
Latty monitors different indicators for each side of her business. In residential real estate, interest rates are the main driver of buyer behavior. In business brokerage, she closely monitors political and trade developments. “Business broker, you’re watching the presidency. You’re watching tariffs. I deal with a lot of manufacturing listings, so the tariffs sometimes will affect pricing. Manufacturing listings usually pay four or five times markup, but if tariffs are high, I might list it a little lower.” These factors can quickly change both valuation and buyer appetite.
Lessons for Today’s Professionals
Latty’s experience shows that operating across multiple real estate sectors is possible with careful organization, deep market knowledge, and a willingness to adapt. Her approach highlights the opportunities for brokers who are willing to learn the unique aspects of each field and invest in ongoing client education.
As more investors seek alternatives to traditional property ownership and as both housing and business markets become more complex, brokers with a broad skill set will be better positioned to spot trends and guide clients through changing conditions. For those entering the industry, Latty’s career underscores the value of flexibility, financial literacy, and a commitment to helping clients understand their options, no matter which side of the market they’re on.
