How to become a commercial real estate agent

If you have a passion for real estate then you could consider becoming a commercial real estate agent. Are you driven and social? Were you the one in school who always got the best deals when purchasing things? In this role, you take on the complex selling and letting domain of commercial properties. You must enjoy keeping busy, and have a certain knack for hard-nosed and always respectful negotiations. You work with your clients to help them buy and sell property. This exciting and competitive profession sees you using your expertise to help your clients get the best deal. Becoming an expert needs you to understand the law in relation to real estate, so get ready to get educated and then jump into the fray.

Does the excitement and competition of commercial real estate make you sit up and pay attention? Can you see yourself helping your clients to get the best deal possible? Do you love to drive a hard bargain? Then, why not consider becoming a commercial real estate agent. Have a look below to find out the next step you need to take on your journey to success. 

Step one: Choose a course

In order to register as a commercial real estate agent, you need to at least have a relevant certificate III level qualification. However, you may want to go above and beyond to get ahead of the crowd and consider a bachelors or even a masters. If you are working already with qualifications under your belt a short course such as those on property investment or law may be sufficient. If you want to aim your sights at a career progression into business ownership or a principal role. Then consider studying for a Master of Business Administration.

Step two: Complete a compulsory short course

Once you have your qualifications, you are ready to register to become a real estate agent. You must do this before you are able to work. Each state has a different set of requirements but all of them require you to take a short course first. Check with your local authority so you know exactly what you need to do. You can find more information via the resources section on this site.

Step three: Register as a real estate agent

Finally, when you have passed the compulsory short course you can register as a commercial real estate agent. This is an important step to take because you cannot work without the registration. Every state in Australia has a set of different rules so check with your local authority to find out exactly what you need to do. You can find more information via the resources section on this site.

Step four: Look for your first job 

After registering you can begin to look for your first job. Real estate is growing in Australia and experts are predicting growth to continue steadily. When applying for work don’t forget to tailor your resume and cover letter for each application. In addition, make sure you highlight your qualifications, registration, personal strengths and any experience you may have. 

Step five: Consider a specialisation

Working as a commercial real estate agent is already a kind of specialisation. Yet, there is room for more growth and progression. For example, you could focus on a certain type of property or business. Or you might move into a management position.

Specialised Commercial Real Estate Agency

In this specialisation, you retain the role of a commercial real estate agent. Except, you begin to deal with only one type of commercial property. For example, retail spaces or rural properties. Doing this means you can really get to know the given area of the market very well. Thus, becoming the go-to specialist for the type of property. This means you give a better service to your clients and increase the demand for your services.

Real Estate Agent Principal

After you have gained considerable on the ground experience in your field, you can consider taking on a principal role. In this specialisation, you move to take on an overseeing role. Usually managing the real estate agency operations, staff, budgets, and marketing the business. As the principal, you may have taken the step to start your own business or franchise. Or you may act as the manager on behalf of the owner.

What Does a Commercial Real Estate Broker Do?

As a commercial real estate broker you have a wide range of tasks to keep you busy. Primarily your job is to support clients to buy and sell commercial property. This entails giving advice on the market and sale and purchase techniques. Then you give support in relation to the terms of settlement including structure advice in relation to those terms. You may also have commercial property leases you manage on behalf of your clients. This involves advertising for tenants, negotiating and managing the tenancy agreements, collecting rent, and dealing with property maintenance requests.

Tasks

  • Buying and selling commercial properties and business premises
  • Giving advice to clients on market value, selling methods, and settlement terms
  • Arranging property marketing
  • Managing commercial property tenancies
  • Coordinating maintenance on leased commercial properties

Skills for Success

Commercial real estate is a highly pressured work environment. You are working on your client’s behalf and there can be massive financial implications for them. They need you to have a cool head, calm them down, and seek the best outcomes for them. You will need to feel comfortable negotiating and communicate in a highly skilled manner with all parties involved. Lastly, you also need to backup your people skills with knowledge of property law and the property market.

Skills and attributes

  • Level-headed in stressful situations
  • Very good people skills
  • Good written and verbal communication abilities
  • Thorough understanding of property law
  • Can negotiate like a pro
  • Tip-top management skills

What’s the commercial real estate agent salary in Australia?

In Australia, commercial real estate agents earn a median wage of $48,243 per year. This varies according to a number of factors and is intended as a reference only, from Payscale 05/’18.

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