How College Graduates Can Close Deals As A CRE Broker

College graduates who are looking for a career where they can put their people skills to the test may look toward a career as a broker. CRE brokers facilitate the lease, sale or purchase of a commercial property and represent their clients in getting the fairest and most suitable outcome.

In addition to choosing which party to represent, brokers may specialize in a specific asset class, including office, multifamily, retail and industrial. While some brokerages operate nationally, others are positioned in specific places or regions.

Typically, CRE transactions include two types of brokers:

1. Owner/Landlord Broker: Represents the property owner or landlord in selling or renting their properties. Responsibilities include: helping to showcase properties, negotiating leases and looking for tenants to fill spaces.
2. Tenant Broker: Represents the tenant in leasing properties. Responsibilities include: finding spaces, negotiating leases and helping tenants figure out whether they should renew their lease or find a new space.

While college isn’t a requirement to becoming a broker, college graduates who hold a degree in business, finance, economics or real estate may find this to be a particularly successful career path. All states including Washington, D.C. require a broker’s license to practice.

CRE Broker Skills

1. Negotiation: Talk through and lock down favorable lease terms for either buyers or landlords.
2. Relationship Building: Continue to advise and communicate with buyers or lenders, and maintain a strong network of CRE decision-makers.
3. Knowledge of Market: Ttay up to date on what’s happening in their market and property values and performance to advise clients.

What Comes After Graduation

CRE brokers can work as associate brokers — or licensed brokers that are associated with or supervised by a broker — and can move up to a senior associate broker position. More executive level roles include vice president or senior vice president of the brokerage, which may involve maintaining client relationships and mentoring brokers. The principal serves as a CEO and may own and facilitate the activities of a brokerage.