Required Courses for a Commercial Real Estate Agent
Commercial real estate agents deal with properties used for business, nonprofit and government uses. The courses needed for a commercial real estate agent license vary by state or professional association, but some types of classes are more common than others. A practicing commercial agent must take classes throughout her entire career in some states to satisfy a continuing education license requirement.
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Investment and Lease
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A real estate investment class is commonly a part of a commercial real estate agent's education. The classes focus on how the agent helps a commercial real estate investor profit from his sale or purchase of a commercial property and showcases various strategies, such as only using cash.
Commercial leases are complex and legally binding. Lease courses train a commercial agent on the different lease types and terms she faces in her work, including what is legal in her area of practice.
Land Use, Development and Planning
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Rural markets present a challenge for commercial agents, so rural land use classes are necessary for the agent to be successful. Rural land use courses evaluate the different ways of marketing farmland and reaching potential buyers.
Land use and development are commonly required courses for a commercial real estate agent because of the size of and scope of the commercial properties. Agents learn how to separate larger pieces of land, combine smaller plots for commercial purposes and develop ways to show combined or divided land.
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Property and Income Taxes
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Property taxes, or taxes on real estate collected by the local government, impact a commercial real estate owner's investment. Agents take property tax courses to learn how the tax figure is calculated, what factors influence a commercial property's taxable value and what, if any, exemptions are available in the area.
Income taxes apply to rents and profits from commercially owned real estate, so agents must take an income tax course to become familiar with the taxes, tax credits and tax deductions charged and allowed by the IRS. The courses prepare the agent to answer general tax questions from potential clients.
Case Studies and Real Estate Law
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Case study courses allow a commercial agent to perform some of the tasks she will do as an agent in a classroom setting to gain a solid understanding. Various case study topics are available, including how a mortgage underwriter process a commercial loan and how to find commercial financing in a tighter market.
A commercial agent commonly takes additional classes focused on commercial real estate law and professional ethics. The courses cover what an agent is legally allowed to do under state law and include an outline of real estate fraud indicators.
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