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How to Prepare in College for a Career as a Commercial Real Estate Agent

Published: 06-13-23 Category: Marketing

Specializes in providing actionable insights into the commercial real estate space for investors, brokers, lessors, and lessees. He covers quarterly market data reports, investment strategies, how-to guides, and top-down perspectives on market movements.

A commercial real estate agent studying in college

Unlike many other professions, there are no explicit college degree requirements for becoming a commercial real estate agent. In order to work as a commercial real estate agent, you need to take a certain number of hours of an accredited course and pass a licensing exam.

For example, California requires commercial real estate agents to complete a 135-hour accredited course, pass a state license exam, and find a broker to sponsor them. Then, after gaining some experience, agents can take a further exam to become an official independent brokerage.

However, college can still be a useful stepping stone for and provide several valuable skills to those looking to pursue commercial real estate as a career. Let’s take a look at what some of those skills might be and how they can help.

Commercial Real Estate Coursework

Working as a commercial real estate agent requires numerous soft and hard skills related to management, finance, and communication. In that sense, the degrees that translate the best into a career as a commercial real estate agent include the following.

#1 – Economics

Economics is an obvious choice as it gives you a comprehensive understanding of how markets work and will help you identify trends and patterns in market data. A degree in economics also provides the necessary theoretical framework to contextualize the commercial real estate market in the broader global economy.

#2 – Finance

Finance includes several courses on accounting and investing that will give you an extremely firm grasp of the numerical aspects of commercial real estate. Finance students learn a significant amount of financial and statistical analysis, which will come in handy when going through spreadsheets of commercial real estate data.

#3 – Marketing

A large part of being a commercial real estate agent involves marketing your skills to find potential clients. Marketing majors understand how to convert prospects into viable leads and have a good grasp of theories of selling—something that is extremely useful for independent professionals.

Useful College Electives for Commercial Real Estate

Commercial real estate agents perform a wide range of work duties, so they need to be flexible and well-rounded. There are several electives you could take while pursuing a degree that can buttress your skills and knowledge base.

#1 – Psychology

How to Prepare in College for a Career as a Commercial Real Estate Agent

Psychology is useful because you’ll be working with a wide range of people in different circumstances. Buying and selling real estate can get very personal and emotional, so a background in psychology can be helpful for navigating these complex interpersonal relationships.

#2 – Communications

Being a commercial real estate agent involves a significant amount of self-promotion. Communications courses cover select topics in mass communications and will teach you how to write technical communications and long-form press releases/articles.

#3 – Statistics

Statistics are one of the main technical tools agents use to analyze markets. Even if you don’t plan to handle technical calculations yourself, some knowledge of statistics is invaluable for forming accurate judgments about the state of property markets from data.

#4 – Pre-Law Courses

The intersection of real estate and law is vast, and real estate agents need to have a fluent understanding of things like contracts, terms, zoning, tax law, and environmental law. Law degrees are exceptionally useful for commercial real estate, so being a real estate agent is a viable career path for former lawyers.

#5 – Accounting

Real estate agents deal with numbers on a daily basis and need to know how to calculate things like operating expenses and income. Accounting skills will be useful for assessing specific properties and for managing your finances as an independent agent.

#5 – Business Administration

Commercial real estate agents often run small businesses, so coursework in business administration can be extraordinarily helpful. Business administration courses cover components such as supply chain management, marketing management, business ethics, and project management.

Networking

Colleges gather a diverse range of people from all walks of life and often give their communities several opportunities to network with other professionals. Aside from generating explicit job opportunities in the industry, networking is a way to build your list of prospective clients and generate leads.

Many colleges have real estate groups and associations that connect like-minded students with each other and local business leaders. College students can take advantage of these relationships to build professional networks.

Internships

Finding a commercial real estate internship while you’re still in school can help you land some useful experience. Throughout an internship, you’ll gain useful experience on the job and learn what a day in the life of a commercial real estate agent is like. You’ll also likely create numerous professional relationships you can add to your professional network.

Depending on your degree focus, you may be required to get a business internship. An internship would then count as part of your coursework for your degree.

I Am Already a Commercial Real Estate Agent. Is College Worth It?

If you already have experience working as a commercial real estate agent, you may be wondering whether pursuing a college degree would be worth it. The answer depends on where you are and where you want to go with your career. If you plan to continue working as an independent agent, a college degree may not be worth the cost.

However, if you plan to start your own brokerage or want to get a leadership position at your current brokerage, getting a college degree can be worth the time and effort.

If you don’t want to spend the time to get a four year degree, several universities offer two-year associate and certificate programs in real estate. You can often complete these degrees entirely online, meaning you can pursue your education while also working a full-time job.

Should I Get an MBA for Commercial Real Estate?

Whether or not an MBA will be a benefit for your commercial real estate career depends on the program costs and your particular career position.

Some larger brokerages may require senior leadership to hold an MBA, but most agents will have no need for an MBA. If you feel the cost is worth it, an MBA can serve as a sort of status symbol indicating your level of knowledge to potential clients.

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