Careers in commercial real estate (CRE) is a term that covers a range of different jobs in CRE. If you are thinking about starting a career path in commercial real estate, it’s important to know the various type of jobs that are open to you. This can help you specialize in one specific area of commercial real estate in Calgary.
In this article, we will look at 4 of the most popular career paths in commercial real estate.
Commercial real estate broker
Being a commercial real estate broker is one of the most common career paths in CRE.
Basically, there are 2 types of commercial real estate brokers – sales and leasing. Commercial real estate brokers who specialize in sales generally represent either the buyers or sellers of real estate. CRE brokers in the leasing real estate sector deal with landlord representation to look after the interests of their tenants or landlords.
The business of being a commercial real estate broker is driven by sales and commission.
CRE development involves developing real estate into a profitable business. This can cover everything from acquiring land, building permits, and overseeing construction to buying and renovating commercial properties to lease.
Because commercial real estate development involves a wide scope of activities, CRE developers usually specialize in one area of real estate. For example, a CRE developer may specialize in office space in the Calgary downtown area. Or, they may develop condos and know how to market them to attract the best tenants.
Commercial Real Estate Appraisers
Commercial real estate appraisers specialize in estimating the value of commercial business property. For this, CRE appraisers need to have a solid working knowledge of the local market, know about different types of properties and land valuation, and prepare financial analyses.
Appraisers usually have to be licensed and undergo training to obtain the necessary certification.
Property Managers in Commercial Real Estate
CRE property managers are responsible for the day-to-day running of business premises. Usually, a CRE property manager liaises with tenants and property owners, repairs and maintenance, and paying taxes and insurance. In many cases, commercial real estate property managers are responsible for interviewing prospective tenants and arranging eviction orders.