Real estate agents who focus purely on commercial properties are known as commercial real estate agents. These property professionals play an integral role in providing guidance and advice, assessing their clients’ needs and supporting them to buy and sell appropriate commercial properties. The licensing and registration requirements for commercial real estate agents vary from state to state, so be sure to do your research before jumping head first into a career.
Commercial real estate agents' number one responsibility is to support clients in the buying and selling of commercial property. They provide advice on the market, sale and purchase methods, the settlement and other legal requirements. Many commercial real estate agents also manage leases on commercial property and help their clients advertise for new tenants, negotiate and manage tenancy agreements as well as coordinate maintenance requests.
Working with the money of others can be extremely stressful, so commercial real estate agents need to be able to handle the pressure – especially when the purchase, sale or lease of a commercial property could have big financial implications for their client. Communication, customer service and “selling” skills are all essential., as is an in-depth knowledge of property law, the current property market, negotiation and contract management.
There are many options available to commercial real estate agents who would like to specialise. One of these options is to focus on particular types of commercial properties and businesses. Another is to move into a management role as an estate agency principal or owner.
Many commercial real estate agents choose to specialise in a particular type of property or business.. For example retail spaces, restaurants or rural properties. This allows them to focus their attention on a small part of the larger real estate market, and gain a better understanding of their particular area. It also makes it easier to offer better service to clients, more specialised knowledge, and to attract clients from a particular niche.
Commercial real estate agents often decide to move into estate agency principal roles. A real estate agency principal oversees the everyday operations of a real estate agency, such as staff and budget management, business advertising and promotions, and general real estate agent duties. Some principals own their own franchise or business, and others are acting as manager for the business owner.
It is recommended that commercial real estate agents complete a minimum of a certificate III level qualification, as well as the short course required for state registration.
A starting point for those interested in a career in commercial real estate can be a short course, such as those on property investment or law.
Commercial real estate agents wishing to build their skills in this area can undertake bachelor level qualifications to gain an advanced understanding of the real estate industry.
A Master of Business Administration can be an excellent option for those commercial real estate agents wishing to move into business ownership or estate agency principal roles.
Each state in Australia has its own process for becoming a registered real estate agent. Registration requires the completion of a short course relevant to the state in which you will be working. See our Resources sections to find information relevant to where you live.
Get a head start in your career by producing an excellent resume to present to potential employers. Take a look at our sample resume and cover letter and put your best foot forward when you apply for commercial real estate agent jobs.
Real estate is a growing industry in Australia, and jobs in this area are expected to continue increasing strongly. Salaries are generally below average but can vary based on the property market in which the agent is working. Real estate agents also earn commission which affects their income.