Niche Opportunity in Commercial Real Estate Agency

In commercial and retail property today, the most successful commercial real estate agents specialize in a particular niche area or property type.  In many cases, they will specialize in both.

This is because specialization allows you to provide real market knowledge and a dedicated focus to the property and the client. Every property type will have factors such as improvements, function, location, services and amenities, and tenancy mix.

The property market is always full of opportunity. That being said, you should choose a reasonably active property type that has some future in your local area for both business owners and property investors.

Specialise as an agent

Most top commercial real estate agents specialize in a specific type of property or location. They will comprehensively understand that property type and provide advanced marketing solutions to attract the maximum number of enquiries and inspections.

Real Estate Niches and Services

Here are some niches for you to consider as part of your career in commercial and retail property today:

1: Retail Property

Retail shopping centres and retail property are particularly specialized. Retail has its own property cycle that is heavily geared to the local and domestic economies. 

To specialize in this market segment, you need to understand local businesses, retail sales, how businesses operate, how they can improve their sales, and what type of occupancy is needed for a viable retail business. As part of that process, get to know what shopping centres are doing locally with occupancy, leasing, market rents, and tenancy mix.

2: Leasing Property

The leasing of industrial and or office property is relatively straightforward.  It is also the easiest part of the industry to start your career in.  When you can successfully lease premises you will find that those leasing opportunities will one day turn into sales opportunities. 

A lease transaction today can be a sales opportunity in several years.  Many landlords that we serve today own properties in a variety of locations.  If those landlords are satisfied with your service, they are likely to trust you with a future sale requirement in another location. 

The best salespeople are usually those that have been very good at leasing properties locally.  The link between a lease document and a sales transaction will exist in most investment properties.  That then says you should understand the lease document and how it can impact a future sale situation.  Some leases and tenancy mixes will need to be tuned prior to any sales situation.

3: Businesses Buying selling and leasing property

Many businesses require the services of a leasing agent or tenant advocate.  When you work with larger firms, you will find that they will be prepared to appoint you as their agent to find a suitable property.  They will, therefore, pay your commission. 

If this part of the market is attractive to you, the general rule is to work with the more prominent local businesses.  They are more reliable and consistent when it comes to formulating decisions and appointing agents.

4: Sales and Leasing activity for investors and business owners

You may choose to be a specialist in property sales.  If so, you should develop specific and dedicated marketing systems that make your services unique and special locally. 

Almost every agent will say they are a property sales specialist.  The reality is far from the truth, however you can specialize and stand out as a top agent by providing unique real estate marketing solutions in selling a property and dedicated client service.

Steps to Agent Change and Opportunity

Have a good look around your local area to see what niche property types are available for your focus and activity.  Choose the one that is most attractive to you and that has a reasonable level of potential activity over coming years.  When you have made that selection, start to learn everything you can regards the property niche and property type.