The commercial real estate industry currently employs around 4 million Americans. Despite shake-ups caused by the pandemic and an uncertain economy, this market remains a vital and much-discussed sector. Therefore, commercial real estate jobs can be rewarding careers for those who pursue them. If you are interested in such a path, try to identify a specialty—brokerage and leasing, appraisals, management, or otherwise—to focus your options while engaging your interests and skills.
Whether you want to lease office space or identify entry-level commercial real estate jobs, contact The Genau Group to learn more. Our employees project and analyze cash flows for new developments, develop new projects, and broker large transactions with institutional clients in Washington, DC. The Genau Group philosophy ensures success by prompting appropriate questions, strategizing for clients, surveying available options, and reviewing the possibilities. To learn more about commercial real estate, call (202) 735-5382.
Consider commercial real estate specializations below and identify the work that excites you:
Real Estate Brokerage and Leasing
Commercial real estate roles often focus on specific property types: retail, industrial, and multi-family premises like apartments. Each requires a keen awareness of market conditions and an ability to anticipate broader economic trends that can impact real estate. However, your preferred property type is distinct from your job.
Among the most popular types of roles are real estate brokerage and leasing. In these positions, one identifies leads and “sells” properties to clients—including corporations, institutional buyers and sellers, and foreign businesses—that are pursuing a business interest in the transaction. These roles require business and technical knowledge. Communication skills and networking are also crucial to commercial real estate agents.
Appraisal and Consulting
Commercial real estate appraisers focus on estimating property values for buyers and lenders. To do so, appraisers analyze the local market and the subject property targeted for purchase. They can work as contractors hired by a client or full-time for a commercial real estate company. Nevertheless, the job requires state-level certification to comply with federal guidelines as well as additional certifications from a trade association.
Commercial real estate investors also seek private consultants to conduct analyses of sites, buy/lease decisions, investments, and property tax appeals. These consultants can work as independent contractors or in consulting firms that serve commercial real estate clients.
Commercial Real Estate Management
Corporations must administer real estate holdings and needs. Therefore, they hire managers to focus on making the most of a company’s real estate, including adding or removing portfolio assets. More than just buying and selling, a corporate real estate manager considers efficiencies in property usage and enhancing the productivity of existing properties. They also may oversee the analysis of sites, corporate portfolios, purchase and lease agreements, and financing agreements.
Property management entails maximizing net revenues and productivity of rentals, tenants, and property. Managers update property owners on operations and rentals; they may also have input in property acquisition and disposal. Such positions require experience in property operations, everything from cleaning to expense payments.
Institutional investments of more than $10 million are critical to commercial real estate. They involve complicated transactions with institutions—such as Real Estate Investment Trusts (REITs)—insurance companies, and pension funds with long-term investing interests.
These institutions hire commercial brokers in markets where they have investment interests. They seek brokers with a real estate background who usually also have a graduate degree in business. These institutions’ interests usually include knowledge of tax law, market trends, regulatory practices, local market conditions, and more comprehensive local real estate assessments of property, demographic, and economic trends.
Commercial Real Estate Lending
Finally, commercial lending in real estate involves working with mortgage lenders specializing in commercial developments. A commercial real estate lender may specialize by loan sizes or property types (as do developers or commercial brokers). Commercial real estate loan officers must understand how to analyze credit, appraisals, titling requirements, properties, and environmental and governmental regulations.
Explore a Diverse Array of Commercial Real Estate Jobs in Washington, DC
While you may not own or rent any commercial properties, commercial real estate jobs can allow you to take an active industry role. Folks looking for representation, project management, or other commercial real estate services in Washington, DC, can turn to the Genau Group. Our team seeks the best locations and values for our clients until they are satisfied. To learn about our services and capabilities, call (202) 735-5382.