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Is Commercial Real Estate a Good Career in 2023 (with Tips)

At the moment, the commercial real estate sector is one of the biggest industries in America. In fact, there are almost four million jobs in the United States if you’re interested in working in commercial real estate. 

Keep in mind, a lot of people are still misinformed and confused when it comes to understanding this industry and the different job opportunities it provides. Let’s talk about working in commercial real estate and the opportunities it can bring. 

Working in Commercial Real Estate - why and how!In this post, we’ll explain…

Let’s dive in! 

Related: Want Real Estate Investment Success? 7 Steps to Improve Your Chances!

About Commercial Real Estate Jobs

When you ask someone what they think someone in the real estate agent does, they will typically answer that they sell houses. Yes, this is part of the real estate industry, but there is much more to it than this. 

Yes, you can work in domestic real estate sales. This usually involves listing and selling family properties. While this can definitely be a part of working in real estate, this is far from the scope of careers that actually exist within the industry.

There are huge amounts of opportunities in real estate. Not only do you have residential options, but you also have commercial job opportunities as well. Within each realm, there are heaps of real estate jobs.

Real estate professionals are actually made up of a large group of individuals that possess different skill sets within the areas of design, development, investment, and property management. All of these different sectors collaborate to help benefit communities.

It’s worth spending some time exploring all of your options so that you can get a better understanding of what sort of job is going to be right for you. Think about your skills, as well as your strengths and weaknesses. This will help you to figure out what sort of role is going to best fit in with your skillset. 

However, from commercial real estate brokers to property management, there is nearly something for everyone.

This includes…

  • portfolio strategists,
  • property development and acquisition experts,
  • and much more.

This makes the industry a highly lucrative career path for all that stay consistent in their commitment to it.

Related: Growth Opportunities: What Are The Real Estate Opportunity Zones

Commercial Real Estate: Job Outlook

A lot of industries enable you to jump in at any point in terms of building your career. But with real estate, it’s a bit different. 

While you are not going to be restricted to a certain job, the time that you have spent in the industry and the experience that you have can make a big difference in terms of your future. 

For example, if you begin in a real estate position where you’re working on single-tenant net lease deals in New York, eventually you’d be considered a developer of single-tenant lease deals. You’ll be able to keep this with you throughout your career. This is why it is incredibly important to consider your route in real estate. 

Not only does it need to be thought about when it comes to enhancing your career, but you also need to make sure you consider it from the perspective that it could hold you back too. You don’t want to run the risk of being pigeonholed into just one area of real estate.

Related: 7 Jobs That Pay 100k A Year Without A Degree (You Can Do These!!)

Invest in Real EstateIs it hard to break into real estate?

It can be, especially if you aren’t sure about what part of real estate you want to get into.

This is why it is critical to make sure you do your homework first. Make sure you do this prior to entering the industry.

And, if you take a job and realize that you want to move to a different niche or sector, talk to other professionals in that area and try to get your foot in the door.

Is real estate a good career in 2022?

So what if you’re thinking about making a career change this year? Is real estate a good career in 2022?

Yes! Especially if you’re in a fast-growing real estate market.

However, you’ll need to make sure to follow the law, get your certifications, and focus on the niche you want to be in so you can study and work on your skillset.

Related: Beyond the Degree: 5 Things You Must Do in College to Land a Great Job

What is the salary of a commercial real estate agent?

The average salary of a commercial real estate agent (around 2 years or more of experience) is around $80,000 a year. 

This drops to around the $60,000 mark for newly qualified agents (6 months to a year of experience).

But, with additional training, like specialized certification, an agent can make upwards of $100,000 a year (excluding bonuses). 

This means that it’s a wise move to not only select a more targeted avenue of work in commercial real estate but also plan to progress in that field as much as possible. 

Is commercial real estate a good career overall?

Commercial real estate is an excellent career choice, and definitely one that should be considered by anyone that’s interested. Regardless of age or social standing, this accessible field can lead to a very fruitful career.

Provided that you do your homework and decide on which area of commercial real estate you wish to work in, the rewards can be huge.

With property being one of the few industries that is continually in a state of growth, choosing a career in this field can mean long-term job stability and can lead to a healthy yearly salary. 

Related: 18 Jobs That Pay 75k a Year Without a Degree (You Can Do These!!)

What do you do in commercial real estate?

The responsibilities within commercial real estate vary from position to position. But, you’d most likely have similar responsibilities to a real estate broker. Commercial real estate professionals buy, sell, or lease properties that will be used by businesses.

To start working in commercial real estate, here are a few responsibilities and skills you’ll want to work on:

  • Ability to negotiate
  • Mediation
  • Strong communication skills
  • Patience
  • Market knowledge (especially within the commercial market)
  • State laws
  • Economics background can be helpful
  • People skills (extroverts do really well in this niche!)
  • Sales skills

What is required to sell commercial real estate?

The process of getting into real estate is a fairly straightforward one. Yes, having a working knowledge of the industry is important, but this can be learned fairly quickly. What takes time — and something you will need to seriously enter this field — is licensed certification. In some states, you may need to first get an education. 

The type of licensing varies, so whether you want to be a broker, developer, or agent, you’ll have to consult with your local jurisdiction to find out the most up-to-date information of qualifications that you need.

Related: 35+ High Paying Jobs Without a Degree

What state has the hardest real estate exam?

As it stands, Colorado is the state that has the hardest real estate exam. So if you plan on working with commercial real estate in Colorado, be sure to put a lot of focus into studying.

You’ll need 160 hours of education, pass two tests, pass a background check, and be fingerprinted. If you are able to do that, you could be a licensed realtor!

Working in Commercial Real Estate - Are Warehouses a Good Idea?How successful are commercial real estate agents?

Commercial real estate agents are usually more successful than residential estate agents.

According to the National Association of Realtors, a commercial real estate agent makes around $85,000 whereas a residential estate agent makes around $39,300. That’s a whopping difference in pay!

With $85,000 as a bracket for an average commercial real estate agent, this career choice has one of the highest average pay scales in the employment market. And, training and specialized certification can lead to a salary that can rise well above the $100,000 bracket.

Related: How to Set Yourself Up For Career Success

How To Get Into Commercial Real Estate

The pay is good, the work sounds fun…so how can you get into commercial real estate?

The type of licensing varies, so whether you want to be a broker, developer, or agent, you’ll have to consult with your local jurisdiction to find out the most up-to-date information of qualifications that you need.

However, here are the basic steps to get into real estate.

1) Obtain a Real Estate License

All real estate agents must obtain a license from the state that they want to practice in. This will be the same license regardless of selling commercial or residential properties.

Many states have education requirements, exams, and some have other requirements as well. Depending on your state, this may require more or less education.

Related: 5 Online Courses to Help You Thrive in a New Career

2) Get A Job

Once you’re licensed, you’ll want to find a brokerage company that specializes in commercial real estate. This will help you gain experience in the market.

3) Find Your Specialty

There are many types of commercial properties. So it’s important to specialize and understand your niche inside and out.

This will help build trust with clients and make you the go-to person in your field. 

For example, you could sell office space, retail spaces, or even industrial buildings.

Related: How to Change Careers: A True Story of Leaving the Retail Grind

Working In Commercial Real Estate – Is It Right For You?

So there you have it!

That’s really everything you need to know about commercial real estate. And, we hope you’ve been able to figure out if this is the right sort of career for you.

One thing to remember about real estate agents is that they are almost always going to be in demand. So go for it if you want to try it as a career!

Are you thinking about working in commercial real estate? What are you waiting for?

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AUTHOR Kimberly Studdard

Kim Studdard is a project manager for online entrepreneurs and small businesses. When she isn't spending time with her daughter and husband, or reading her growing pile of horror books, you'll find her working on her HR degree and working towards FIRE.

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