5 Career Options in Commercial Real Estate (and How to Excel in All of Them)

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The global commercial real estate market is booming and, exceeding the peaks recorded in 2019 by 22%, commercial property sales are now soaring at record-breaking levels. At a glance, these statistics suggest that there has never been a better time to take the first step up the career ladder in the CRE market. 

However, with nearly 2.5 million commercial real estate businesses operating in the US alone, the competition has never been fiercer. That is why it is more important than ever to choose your path wisely and learn what sets mediocre and excellent real estate professionals apart. Start with the guide below.

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Commercial Real Estate Project Manager

If you are looking for a thriving niche in the CRE market or you have experience in construction, working in the development phase of real estate projects might be the best choice for you. 

Whether you are a development or project manager, this niche offers some of the highest salaries in the industry ($60,000 to $243,000 a year) and can be extremely rewarding. 

However, this is also the field with the highest competition, and a strong work ethic, prioritization capabilities, and a proactive mindset are essential traits you need to excel in your career. 

Commercial Property and Asset Manager

If throughout your career, you have honed your managerial skills, this might be a great time to apply your experience to the commercial real estate industry. Property and asset managers work in partnerships with investors to ensure that the buildings they have invested in are safe, compliant, and returning the expected revenue.

To excel in this field, it is essential to have a strong understanding of industry regulations and keep on top of emerging trends through insights, studies, and reports. 

Commercial Real Estate Broker

If you have a knack for sales and you are looking to start a career in real estate, you should consider exploring the brokerage niche. As a broker, you will be representing the selling or buying party in real estate transactions, you will advise your clients on how to obtain the best deal for their needs and budget. 

If becoming a CRE broker is your calling, make sure to get all the licenses needed to operate alone or for a brokerage company and you invest in continued education to better understand the market. 

Pro-tip – the CRE market is extremely layered, and finding your niche can help you cut through the competition. Some of the thriving niches you might consider specializing include multifamily buildings, healthcare facilities, storage spaces, or warehouses. 

CRE Properties Appraiser or Underwriter

In real estate transactions, a major role is played by appraisers and underwriters. These specialists are responsible for liaising between different parties such as the construction company, the legal team, and the client. 

Their main objective is to offer an accurate estimation of the market value and expected returns of a certain commercial property. While appraisers are consulted when pricing a property that is just debuting onto the market, underwriters work with clients to determine whether a certain deal is convenient and legitimate. 

To become an excellent appraiser or underwriter, you will need to have a vast understanding of the property market in your area, as well as industry legislation, emerging trends, and benchmarks. 

Commercial Real Estate Investor

Investors play a critical role in any commercial real estate project, and they provide the essential funds needed for the completion of construction works. But, besides giving you the chance to participate in exciting projects, this career path can help you reel in significant profits – often between $70,000 and $124,000 a year!

Nonetheless, finding the right project to invest in and maximizing its returns is all but easy. To excel in this field, you will need a reliable network of connections in the industry and a thorough understanding of today’s commercial real estate market.

Partnering with experienced investors and mentors can help you hone your competitive edge and boost your chances of making a winning investment. 

Lastly, don’t forget that no matter the career path you have chosen to pursue, you’ll need to cultivate a mindset of growth, innovation, ongoing learning, and proactivity to excel in today’s highly competitive environment.

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