How to become a commercial real estate agent in Australia: careers in property
Commercial real estate agents exclusively work to sell, lease and manage commercial properties. They advise their clients on the state of the property market, assess clients’ needs, and support them to buy and sell commercial properties. You’ll need to research the licensing and registration requirements in your state or territory in order to become a qualified commercial real estate agent in Australia.
The primary responsibility of a commercial real estate agent is to support clients who are buying and selling commercial property. Commercial real estate agents provide advice about the property market, sale and purchase methods as well as best methods to structure the terms of settlement on commercial properties. Some commercial real estate agents manage leases on commercial properties and have duties like advertising for new tenants, negotiating and managing tenancy agreements and coordinating maintenance requests.
- Buy and sell commercial properties
- Provide advice on sale methods, market values and settlements
- Arrange advertising
- Manage commercial property tenancies
- Coordinate maintenance
Commercial real estate can be highly stressful work because of the large financial implications for clients, so the ability to handle stress is essential. The ability to work to deadlines and to manage competing priorities is also needed, Commercial real estate agents need to be capable communicators with good people skills, and should have a comprehensive understanding of the current property market and property law. Excellent negotiation and contract management skills are also required.
- Able to work under stress
- Good people skills
- Strong communication skills
- Thorough understanding of property law
- Contract negotiation skills
Commercial real estate agents can specialise in a number of ways. They can choose to focus on particular types of commercial properties and businesses, or move into management roles such as estate agency principal or owner.
Agents who specialise in one type of property or business, such as retail spaces or rural properties, can focus their attention on a small part of the larger real estate market and gain a thorough understanding of their area of focus. This allows them to offer clients improved service.
After a period of time, many commercial real estate agents move into agency principal roles overseeing all the day-to-day aspects of a real estate agency. They are responsible for things like staff, managing budgets, advertising and promotions as well as the usual real estate agent responsibilities.
Commercial real estate agents should hold a minimum certificate III level qualification and the relevant registration requirements for their state or territory.
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To become a registered real estate agent in Australia, you will need to meet the requirements set by your state or territory.