What Does a Commercial Real Estate Agent Do?

Commercial real estate agents help buyers and sellers with commercial properties, including office buildings, retail stores, warehouses, industrial spaces, etc. They may also assist with the sale of other types of property, such as residential homes or land parcels.

Commercial real estate agents typically work with clients who are looking to buy or sell a piece of property—either for investment purposes or because they plan on using it themselves in the future.

Commercial Real Estate Agent Job Duties

Commercial real estate agents typically have a wide range of responsibilities, which can include:

• Meeting with clients to help them find or sell commercial properties
• Negotiating with other agents to purchase properties or lease space on behalf of clients
• Communicating with clients regularly to keep them informed about the status of their commercial transactions
• Conducting research about commercial properties to help determine market value
• Listing commercial properties for sale or lease in multiple formats including print advertisements, online listings, and brochures
• Marketing properties to potential buyers or tenants through advertisements, open houses, and presentations
• Preparing offers to purchase properties using sales contracts and other legal documents
• Preparing reports detailing commercial sales activity for clients, brokers, or employers
• Providing guidance to clients on legal issues surrounding real estate transactions such as leases and loan agreements
• Identifying opportunities to improve a client’s property through repairs or upgrades

Commercial Real Estate Agent Salary & Outlook

Commercial real estate agents’ salaries vary depending on their level of education and experience, the size of the company they work for, and the geographic location of their job.

• Median Annual Salary: $82,500 ($39.66/hour)
• Top 10% Annual Salary: $183,000 ($87.98/hour)

The employment of commercial real estate agents is expected to grow at an average rate over the next decade.

Commercial real estate brokers and agents will be needed to help companies find office space, warehouses, or other facilities for their businesses. In addition, demand for these workers will stem from the need to lease retail space in shopping centers and other types of commercial real estate.

Commercial Real Estate Agent Job Requirements

Commercial real estate agents typically need to have the following:

Education: Most commercial real estate agents need a minimum of a bachelor’s degree. Some agents choose to major in business, finance or real estate. Courses in economics, accounting, finance, business law and real estate are helpful for those pursuing a career in commercial real estate.

Training & Experience: Most commercial real estate agents will receive on-the-job training from their employer. This training will help the agent learn the specific software and procedures the company uses. It will also help the agent learn about the company’s clients and the types of properties they specialize in.

Certifications & Licenses: To get licensed to sell commercial real estate, you will need to pass the U.S. Department of Real Estate exam. Some states also require that you have a certain amount of experience before you can apply.

Commercial Real Estate Agent Skills

Commercial real estate agents need the following skills in order to be successful:

Communication skills: Communication skills are essential for commercial real estate agents, as they help you convey information to clients and other professionals. You can use these skills to explain the real estate process, negotiate contracts and explain legal documents. You can also use communication skills to help clients understand the benefits of a particular property or explain why a property might be a good investment.

Marketing and sales skills: Commercial real estate agents sell properties to businesses and individuals. They must be able to market properties effectively to attract buyers. They also must be able to negotiate the best price for the property. This requires strong sales and negotiation skills.

Negotiation skills: Negotiation skills are also important for commercial real estate agents. These professionals often negotiate contracts between buyers and sellers, and they may also negotiate with real estate developers to secure a listing for a property. Commercial real estate agents may also negotiate with lenders to secure financing for a property.

Research skills: Research skills are the ability to find and interpret information. This is an important skill for commercial real estate agents as they often need to find information about properties, including information about the property’s history, the property’s value and the property’s potential.

Analytical skills: Analytical skills are the ability to gather information and draw conclusions from it. This is an important skill for commercial real estate agents as they need to be able to assess the value of a property and determine what improvements may increase its value.

Commercial Real Estate Agent Work Environment

Commercial real estate agents work in an office environment, but they also spend a great deal of time traveling to properties that are for sale or lease. They may also travel to meet with clients, potential clients, and other real estate professionals. Because they work on commission, they may work long hours, including evenings and weekends, to show properties and meet with clients. They may also work irregular hours to accommodate the schedules of their clients. The work can be stressful, and agents must be able to handle rejection and deal with difficult clients.

Commercial Real Estate Agent Trends

Here are three trends influencing how commercial real estate agents work. Commercial real estate agents will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

Commercial Real Estate Will Become More Digital

As commercial real estate becomes more digital, agents will need to adapt and learn new skills in order to be successful.

Agents will need to be comfortable with using technology to find leads, market their services, and close deals. They will also need to be able to use social media and other platforms to build their brands and connect with potential clients.

Real Estate Professionals Need to Be Able to Adapt to Change

The real estate industry is constantly changing, which means that real estate professionals need to be able to adapt to change in order to stay ahead of the competition.

One way that agents can adapt to change is by learning new technologies. This includes learning how to use new tools such as virtual reality and artificial intelligence to help them make better decisions about properties. In addition, agents should always be on the lookout for new ways to market themselves and their services.

More Collaboration Between Commercial and Residential Real Estate

There has been a recent trend towards collaboration between commercial and residential real estate. This is due to the fact that both types of real estate are located in the same areas, which makes it easier for buyers to find what they are looking for.

Commercial real estate agents can take advantage of this trend by becoming familiar with the residential real estate market. This will allow them to better serve their clients and help them find the right property for their needs.

How to Become a Commercial Real Estate Agent

A career as a commercial real estate agent can be rewarding in many ways. It offers the opportunity to work with people, help them achieve their goals, and make a difference in their lives. It also provides the chance to learn about different industries and businesses, which can be useful in your personal and professional life.

To be successful in this field, you need to have strong communication skills, be able to build relationships with clients, and be able to think strategically about how to meet their needs. You should also be comfortable working with numbers and have an understanding of finance and investment.

Advancement Prospects

Commercial real estate agents can advance their careers by becoming involved in more complex transactions, such as larger and more expensive properties, or by specializing in a particular type of commercial real estate, such as office buildings or retail centers. Some commercial real estate agents become involved in property management, while others may move into real estate development or investment. Still others may become appraisers or consultants.

Commercial Real Estate Agent Job Description Example

At [CompanyX], we’re looking for a highly-skilled and experienced commercial real estate agent to join our team. The ideal candidate will have a proven track record in the industry, with a strong network of contacts and an in-depth knowledge of the market. They will be responsible for sourcing and negotiating commercial real estate deals on behalf of our clients, as well as providing advice and guidance on the best options available. In this role, you will be expected to provide an exceptional level of service and build strong relationships with clients. If you are a driven individual with a passion for real estate, we want to hear from you.

Duties & Responsibilities

• Find and qualify prospects through market research, lead generation, and networking
• Understand client’s needs and objectives to help them find the right property
• Negotiate purchase or lease agreements on behalf of clients
• Manage the due diligence process during a real estate transaction
• Stay up-to-date on market trends, local zoning regulations, and upcoming development projects
• Develop and maintain relationships with industry professionals, such as lenders, appraisers, and home inspectors
• Advertise properties using a variety of marketing channels
• Arrange showings and open houses for properties
• Help clients stage their homes for sale
• Review documents, such as purchase contracts and leases, with clients
• Attend closing meetings and coordinate with all parties involved in the transaction
• Provide ongoing support to clients after the sale or lease is finalized

Required Skills and Qualifications

• Proven experience as a real estate agent or broker
• Licensed real estate agent in good standing with the state
• Thorough knowledge of the real estate market and trends
• Strong negotiation, communication, and interpersonal skills
• Excellent people skills and ability to build relationships
• Self-motivated, driven, and results-oriented

Preferred Skills and Qualifications

• Bachelor’s degree in business, finance, or related field
• Master’s degree in real estate, business, or related field
• 5+ years experience as a real estate agent or broker
• 10+ years experience in commercial real estate
• CCIM designation