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Commercial & Business Transfer Agency

Commercial Agency

Commercial agents handle empty property used by businesses for a variety of purposes. Traditionally these include shops ranging from high street stores to village stores and retail parks, offices, warehouses and factories. They can also extend to building land, property for conversion to business use and specialised areas such as quarries, amusement parks and forests. They can range in value from a thousand pounds up to millions of pounds.

The opportunity for commercial agents is vast. Not only does an agent act for the owner who wants to sell or let the property but can act for the buyer or tenant. In addition, agents are employed to agree adjustments to the rental or terms for a new lease for an existing tenant.

Property is a major cost to businesses and they need to make sure that accommodation is of the right size and in the right place for their needs. Often an agent will be asked to provide advice on all aspects of a client’s property needs. Such work crosses the line between agency and management consultancy and it is rewarding to work long term with a client to achieve success.

Buy and sell decisions involving property are usually based on logical factors and do not involve as much emotion as is found in house sales. Commercial agents need a wide range of business skills to be able to understand the aims and objectives of a client. A thorough knowledge of Planning Law and Landlord and Tenant Law is needed to be able to guide clients successfully.

Business Transfer

Business Transfer is a specialised branch of estate agency that involves the sale of existing growing concern businesses. These cover a wide range of trades including high street shops, Post Offices, convenience Stores, newsagents, public houses, restaurants and hotels. In addition, an agent may be called upon to handle the sale of much bigger businesses in engineering, manufacturing and wholesaling.

Visiting clients and seeing what goes on behind the scenes in a successful business makes the job very interesting. Every day an agent will learn something new and it is particularly encouraging to see a business flourish.

The agent is responsible for arranging a sale of what could be the client’s income and home. The transfer can involve a wide range of factors and a client will need guidance on matters such as taxation, employment law and property law. A good working relationship can develop and the resulting sale allow an owner to retire or move on to another business.

Qualifications and Training

The most important qualification needed to be successful is an ability to get on with a variety of people and a desire to help them fulfil their plans. Although not essential, academic qualifications show a technical ability and can help reassure clients of your ability.

The National Association of Estate Agents offers the only recognised professional qualification available – the Certificate in Commercial and Business Transfer Agency (CCBT). In addition, an agent must have a good knowledge of property in order for the client to have confidence in their abilities. The National Association of Estate Agents recognises the need for training tailored to the needs of these specialised fields and short training courses are held as an introduction to the subject and on particular aspects of the work.

Starting out

If you are interested in becoming involved in residential estate agency or lettings and management agency, there are two methods of progression within the profession. There is obviously wide scope for progression to senior levels within larger corporate, multiple branch agencies, but another option is to move towards the route of independence, leading to becoming a partner or sole principal of one’s own firm. People enter estate agency and lettings at all stages of their career, but the most common path is for younger people who have, perhaps, just left school or college to join as a trainee negotiator and to advance by gathering a combination of experience and training to senior negotiator, and, thereafter, management. Similarly, in the fields of commercial and business transfer agency, formal training is a useful complement to practical experience. Seeing theory put into daily use helps you to better an understanding and increased confidence. Gaining employment with an agent in one of your chosen fields is an important first step.

Entry to all of the above areas of the profession is usually through local newspaper advertisements, by direct application to agents or by means of a specialist recruitment firm.

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