Working in commercial real estate requires a strong grasp of business, economics and good interpersonal skills. The term refers to for the sale and lease of property for use as office complexes, shopping centres and restaurants. Commercial properties may be leased by a real estate broker or purchased by a developer for planned projects to be completed later. Commercial realty is one of the three types of real estate, along with residential and industrial property.
Commercial property is a large industry that employs thousands of individuals around the country. One of the most prominent positions within commercial real estate is an agent. A commercial realty agent specialises in assisting businesses who wish to sell and lease property. Another area of commercial property is the legal aspect. Lawyers and legal assistants specialise in the many regulations, statutes and judicial decisions surrounding property and transactions.
Commercial real estate agents must generally possess a demonstrated ability within residential estate prior to working their way up. Accreditation from the Real Estate Institute of Canada is vital to the position, while legal professionals should possess experience in commercial law. Those employed in commercial property generally make over C
$60,000 per year.