What Is the Job of a Commercial Real Estate Broker?

The job of commercial real estate brokers includes assisting people in the purchase or sale of investment property. Since the real estate transactions are often complex and time consuming, people often seek out commercial real estate brokers to ensure the transactions run smoothly. Brokers typically use their detailed knowledge in leasing agreements, business trends, tax and zoning laws and where to obtain financing to ensure the property sells. According to the U.S. Bureau of Labor Statistics (BLS), in 2008 the median salary for commercial real estate brokers—with commission—was $57,500 a year.

Job Duties: Generate Interest

Brokers generate leads for properties such as a list of prospective buyers, prospective sellers and lists of the properties they are commissioned to sell. According to Careers State University, commercial real estate brokers generate business through word of mouth. They contact potential investors interested in buying property, send out postcards about their recent sales and hand out business cards. Commercial real estate brokers may, according to BLS, work with real estate agents who work on their behalf to generate prospective buyers and sellers.

Job Duties: Sell Property

Commercial real estate brokers work with people interested in selling their investment properties such as office buildings, malls or factories for a fee, or commission. They sign agreements with the sellers which allow them to place the property on the market on Internet property listings and with real estate firms. The brokers arrange for title searches which verify the sellers' ownership then prepares the real estate listing. The preparation of the listings includes researching and comparing the similar properties that were recently sold to uncover the competitive market for the sellers' property.

Job Duties: Meet with Potential Buyers

The brokers meet with many perspective buyers to show the property and discuss the price and benefits of owning it. Once commercial real estate brokers find buyers for the property, according to O-net Center, they may arrange for financing of property purchases.

Job Duties: Negotiating the Sale

Commercial real estate brokers work as the middlemen between sellers and buyers to negotiate purchase agreements. The negotiation includes convincing the sellers and buyers on such information as price. Also the brokers ensure that all the terms of the purchase agreement are met before the day of closing such as inspections or improvements.

Have a Lawyer on Your Side

In any commercial real estate transaction, it is critical to have a real estate lawyer watching out for your best interests. While a broker is paid a portion of the sale amount, an attorney is not, and is only interested in his/her clients best interests.