Commercial real estate careers involve buying, selling and leasing commercial properties. These properties include shopping malls, office parks, service stations and restaurants--the places people work in and visit every day. Industrial properties such as manufacturing plants are typically excluded, although warehouses are sometimes included.
Just as in residential real estate, the commercial real estate sales broker or agent works on commission. Typically low-priced properties earn a higher commission rate than high-priced properties. Commercial real estate property managers often earn a percent of the property's rent roll, usually about 5 to 6%. In the field of commercial real estate, salary is less common than commission, though property managers and corporate employees normally are salaried employees.
Some states require you to be specifically licensed to hold jobs in commercial real estate sales, others simply require a general real estate license. In order to learn the business, most aspiring commercial real estate professionals go to work for a broker who already works in commercial real estate. Some necessary skills for commercial real estate jobs include:
- Knowledge of ROI, rent rolls and financing.
- Computer literacy in spreadsheets, data analysis software and word processing.
- Ability to negotiate and make presentations.
Action Steps
The best contacts and resources to help you get it done
Learn the ropes at a commercial real estate brokerage
New real estate agents work under the guidance of a commercial real estate broker. Jobs include buying, selling and leasing commercial real estate. A brokerage is the place to make contacts and earn a good reputation in the business.
I recommend: Sign up for a free membership at
LoopNet and find active commercial brokers in your area; contact them and ask about jobs in commercial real estate. Locate the local
CCIM chapter in your area and browse the members list. You want to start your career with the best, and CCIM members are the top commercial real estate professionals.
Take a commercial real estate job as a leasing agent or property manager
Unlike the straight commission of real estate sales, many leasing and property management commercial real estate jobs are salaried positions. You find these jobs within commercial brokerages, property management companies and on-site at large commercial properties.
I recommend: The
International Council of Shopping Centers maintains real estate jobs on their website. They also have links to educational resources you can use to expand your knowledge of leasing.
Climb the corporate real estate ladder
All large companies own and lease real estate. Commercial real estate careers include corporate real estate professionals who perform buy and lease analysis, purchasing and sales of property, refinancing, sale leaseback agreements, site analysis and facility management. Most corporate real estate managers have significant experience as brokers or property managers.
I recommend: CoreNet Global maintains a job bank of commercial real estate employment opportunities.
REAL-JOBS is an online job site for real estate professionals.
Tips & Tactics
Helpful advice for making the most of this Guide
- Enhance your commercial real estate career by joining a professional association for your specialty to stay current in the industry and to participate in continuing education classes.
The official source of Commercial Real Estate Jobs is
the Commercial Real Estate Jobs page at Business.com
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