Real estate is a highly competitive field that often requires professionals to work long hours in order to stay ahead of the competition. Fortunately, real estate has many different niche markets allowing agents working in the field to decide which areas that they feel best suited for. Some people choose to work in residential real estate, timeshare, property management or commercial real estate. Although many people think that agents working in the commercial side of real estate have a commercial real estate broker license, they do not.
A real estate agent, whether sales associate or broker, are just that – a sales associate or a broker. They can work in both the residential and commercial areas of the real estate industry with this one license. An agent working in commercial real estate mediates the buying and selling of non-residential properties that will be used for business purposes. While not everyone is a good fit for commercial real estate, many have had very successful careers working in this arena. Discover if you have what it takes to become a commercial real estate broker:
Determine if Commercial Real Estate is for You
Because real estate is such a large field, almost anyone can become involved in real estate in some way. Agents must be skilled in handling sales, finances, architecture and people all at once. Many people who work in commercial real estate receive fewer but larger paychecks per year instead of several smaller ones like a residential agent would. Negotiating commercial real estate deals can be very complex. Dealing with investors has its own set of unique challenges as well. Commercial real estate brokers will need to be familiar and comfortable working with formulas and calculations that are specific to this area of the real estate industry. If you are smart, responsible, motivated and mathematically-oriented a successful career in commercial real estate could be in your future.
Gain Experience in Residential Real Estate
If you are looking into commercial real estate careers for the future but feel you do not have the experience necessary to be successful, you will want to find a company that has a good training or mentorship program. Interview with some of the area’s larger real estate agencies that have a commercial real estate division or talk to a commercial real estate firm or developer to gain some insight into this area of the industry.
Ready to advance your commercial real estate career? The Institute of Florida Real Estate Careers (IFREC) is here to help. IFREC has highly experienced faculty and staff that have been working with students in the Central Florida area for over 30 years. As Central Florida’s oldest and largest privately owned real estate school, IFREC provides students with all the resources they need to launch and maintain a successful real estate career. Whether you are just getting started in real estate or are looking to further your career post licensure, IFREC is ready to help. Learn more about IFREC by contacting one of our expert career counselors today!