How to Make a Career in Commercial Real Estate?

From finding the right workplace to a comfortable home, real estate agents are the best source to seek help for all your property related struggles. In the real estate industry, commercial real estate brokers are professionals who assist sellers and buyers in finding the perfect match for the commercial properties. It is often considered as one of the most lucrative options to set up a career due to commission-based financial offers in the field. If you aspire to establish a career in this traditional career field, then, attaining overseas education from leading global universities will help you have your competitive edge over the others. Do you want to know more about how you can become a commercial property broker? Read this blog and find out!

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Who is a Commercial Real Estate Broker (CRE)? 

Commercial real estate broker stands as a bridge between the seller and the buyer who wants to purchase a property for a commercial purpose. With the help of a commercial real estate broker you can buy, sell, rent or lease a property for any of your businesses like corporate office, hotel, malls, small or large scale industries, land, store, etc. As a CRE broker, you are free to practice independently or with a  brokerage firm. It is important to note that a commercial real estate broker and commercial real estate agent are two different job profiles. A CRE agent is not eligible to practice as an independent body, instead, an agent must be employed under a registered CRE broker. 

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Responsibilities of Commercial Real Estate Broker 

The set of duties of a commercial real estate broker is different from that of a residential or general real estate broker, especially in the terms of clients management. Here are some duties and responsibilities CRE brokers- 

• Estimating the lease or rent payment for nearby office complexes 
• Visiting and analysing the properties to understand which one is better for a particular client 
• Examining marketing campaigns for maximizing sales and reaching out to the best buyers 
• Assisting an investor or buyer for site selection 
• To view the properties in the local area to analyse the potential for maximum return on investment

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Commercial Real Estate Courses 

Real estate is a vast industry, of which commercial real estate is sub-branch. When it comes to seeking proper educational qualifications for becoming a commercial real estate broker, one can pursue a course in the same field at the master’s level. A diverse range of degrees like MBA and MS along with Graduate Diploma/ Certificate are offered by many top universities in the world. Let us have a look at some of the leading courses- 

Master of Business Administration- Real Estate and Infrastructure	Master of Real Estate Development	Accelerated MBA in Real Estate
Master of Laws- Real Estate and Land Use	Master of Science in Real Estate	Master of Arts inMaster of Science International Economics and Finance- Real Estate
Master of Laws- Torts and Personal Injury Law	Master of Science in Real Estate and Infrastructure	Master of Professional Studies in Real Estate Development
Master of Real Estate Development	International Masters of Business- Real Estate and Infrastructure	Master of Accounting Science- Real Estate
Master of Science in Commercial Real Estate	Master of Business Administration- Real Estate	Master of Science in Real Estate- Real Estate Asset Management

To get admitted to any of the above-mentioned courses, it is necessary to have certain educational qualifications. Let us have a look at what all are the requisites to enter these courses –

• Basic education of 10 + 2 from a recognised institution 
• Bachelor’s degree in related fields with minimum marks required 
• A good score in IELTS, TOEFL or any other English language proficiency test along with LOR and SOP

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Top Universities 

As you come down with the course of your choice, the next step for becoming a commercial real estate broker would be finding the right university. Make sure the university you chose not only offers the course of your choice but will also help you in getting started towards the dream career path. Here is a list of renowned universities offering CRE courses- 

1. York University
2. Suffolk University 
3. University of Southern California 
4. Georgia State University
5. University of Maryland
6. Johns Hopkins University 
7. DePaul University
8. University of Michigan 
9. University of Texas 
10. University of Toronto 
11. University of Alberta 
12. University of Washington 
13. University of Calgary 

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Career Scope 

After completing the education required to establish your feet in the commercial real estate industry, you are all set to practice as a full-time broker for commercial properties. It is necessary to gain trust over your clients, thus, one must strive to register as an authorised commercial real estate broker under local committee or office. 

Tips for a Successful Real Estate Career

Here are some of the tips that you can use for a successful career in Real Estate.

• Sign up for real estate classes in your area. For example, classes provided in colleges, and schools.
• Next, educate yourself regarding real estate. For this you can read several books on the topic.
• Connect with the local community and attend events related to real estate. For example,New York Real Estate Investors Association (REIA).
• Find out the niche you are interested in and join as a member. For example, ICSE for students interested in retail.
• Be a part of the chamber of commerce in your area. It will be a great opportunity to connect with business owners. 
• Next, hire a mentor or coach and start looking for property for lease/ sale
• Have patience and persistence. It is a necessary trait to be successful in commercial real estate.

FAQs

Thus, we hope that through this detailed guide on how to start a career in commercial real estate, we have answered all your queries. Get your career map designed by our study abroad experts at Leverage Edu and experience your dream of studying abroad. Sign up for a free- e meeting.