The Commercial Real Estate Industry touches virtually every aspect of business in the United States and most of the free world. Very few companies can grow without acquiring more land or additional office space, patients can’t use the services of a hospital unless it’s constructed and consumers can’t shop at a Wal-Mart without the development of Real Property.
Commercial Real Estate encompasses all aspects of sales, leasing, management, investment in or improvement of retail property, investment property, farmland, businesses, industries, medical facilities and dozens of other types of property. Our job in the industry is to assist in the lease, management or sales of property, and to advise our clients of their best courses of action when deciding how to invest in or improve real property or a commercial asset.
You will work directly with industry leaders, community leaders, government officials, lawyers, zoning officers, accountants, mortgage companies, banks, title companies, appraisers, utility companies and everyone in between to put together sales or develop property to its full potential for a client. While you can’t make decisions for our clients, you can assist them in making better informed decisions, and you can help our clients to understand what the highest and best use may be for a particular property, or what type of investment vehicle might be best for your client.
You will work with property owners who may want to sell a property, lease a property, have a property managed or determine what use might be better for the property than the current use. You will work with users of properties to find the best location for their business or investment, to determine if it’s better for the user to lease a property or purchase and to understand the tax implications of their decisions. Additionally, You will work with investors to determine which real estate venture might be their best investment to meet their particular goals and needs.
Commercial real estate agents and brokers work with individuals, investors, organizations and corporations to develop property to its highest potential. Their careers include many specializations. Some commercial associates specialize in particular types of property, such as office property, develop-able farmland or even amusement parks. Other commercial associates specialize in particular forms of consulting work for Real Estate Investment Trusts (REITs), insurance companies or utility companies. Still others work in specialized areas such as resort management or assist government agencies with the redevelopment of industrial sites or reclamation of land.
The path you choose to take now, venturing into a career in commercial real estate, may open many unexpected doors in the future. Next time we will discuss the responsibilities of a commercial real estate broker.
VanEd offers online licensing programs in many states, including Colorado, Nebraska, Texas and Oklahoma. Visit us online at VanEd.com to learn more about beginning your career in Commercial Real Estate. We also offer continuing education for those licensees interested in moving into the commercial field.
Written and Published by: VanEd