What is commercial real estate? If you are reading this after searching over the internet, you definitely know what commercial real estate is. However for the sake of our new readership, commercial real estate is a property that is owned for the purpose of generating income. There are several types of commercial real estate which include: Retails, hotels, residential apartments, office buildings and Industrial property.
Commercial real estate is one of the major categories of real estate. In this article, we will be digging into some of the jobs associated with commercial real estate and their qualification needs. Generally speaking, all jobs require a certain level of qualification and commercial real estate is no exception.
Commercial real estate jobs cover a wide scope ranging from entry-level jobs, which require little or no qualification, nor experience, to top level management jobs that have high qualification needs. To work in commercial real estate, one has to fall under one of the following categories: 1. Construction Workers, 2. Real Estate Agent, 3. Seller Agent, 4. Buyer Agent.
1. Construction Workers
Without the construction work force, commercial real estate would not be in existence. This is part of the real estate industry that is responsible of designing and constructing new buildings to be used as commercial real estate. Construction workers include engineers and casual laborers who do the heavy lifting during construction.
2. Real Estate Agents
Another group that forms a big part of the commercial real estate jobs are the real estate agents. These agents take upon themselves the responsibility of buying and selling properties on behalf of homeowners, businesses and investors.
Real estate agents can be broken down further into two groups. That is, the seller agent and the buyer agent. The main difference between the seller and buyer agent lies in who they represent. A seller agent helps in finding buyers for property owners whereas a buyer agent helps a client to find a property that suits their needs.
3. Seller Agent
Seller agents need to have skills in marketing. This is because they are more focused on closing sales as that is their main mandate. A seller agent can be an individual or an organization that assumes an organization structure. In the case of an organization, several job posts will be available because an organization structure will imitate the management pyramid which consists of the executives, managers and functional workers who are found at the bottom of the pyramid.
4. Buyer Agent
Similarly, a buyer agent can be an individual or an organization. However, while the seller agent is a skillful marketer, a buyer agent is focused on research and bargaining affordable properties for their clients. In conclusion, commercial real estate jobs are structured to fit organizational requirements. Commercial real estate companies have posts for managers, accountants, and IT specialists among others which are tailored to meet their specific needs.
Where to Find These Jobs
These jobs can be found on online job listing sites depending on your location or in newspaper job listings. As we said earlier, qualifications depend on the job that one is interested in. From entry-level jobs to executive positions, all can be found in the commercial real estate industry. Which of the above categories interests you the most?