Real estate is an interesting and diverse field that involves much more than just selling homes. If you’re considering a career in real estate, don’t overlook commercial real estate. Commercial real estate involves commercial properties, such as office space. For example, Offices.net offers a variety of commercial real estate options from temporary office space to buildings with executive suites. If you think commercial real estate may be right for you, read on.
Commercial Real Estate Broker
Commercial real estate brokers may specialize in sales or leasing. Brokers representing buyers must determine client needs, find properties that match the buyer’s criteria, and help negotiate a fair price. Brokers representing sellers underwrite properties in order to determine value, market properties to potential buyers, and negotiate sales prices. Successful brokers will be able to continually attract new clients and to negotiate well on behalf of their clients. Although competition can be fierce, a talented broker can earn a six figure salary. A state license is required in order to sell commercial real estate.
Commercial Real Estate Developer
Commercial real estate developers may buy and renovate existing properties or purchase land and build from the ground up. Real estate developers must oversee the entire development process from the purchase of land or properties to the leasing or sale. Commercial real estate development can be a stressful and risky operation, yet it can also be very rewarding for developers with a good sense of the market. Real estate developers may work for a firm or as individuals.
Commercial Real Estate Appraiser
Commercial real estate appraisers estimate the value of a commercial property. They are responsible for creating reports detailing the market, the values of similar properties, the value of the property being assessed, and a financial analysis. In addition to office work, appraisers may spend significant time at the properties they are appraising. Appraisers must be licensed by the state in which they operate. A bachelor’s degree is now required in order to obtain a state license. According to Payscale.com, the average annual salary for a commercial real estate appraiser is $71,196 per year.
Commercial real estate can be a lucrative career path, but it also comes with challenges. Deals may take months to be finalized, hours can be long, and your income may be sporadic. However, if you’re willing to work hard for the chance to make it big in real estate, commercial real estate is something to seriously consider.