what is a commercial agent?
As a commercial agent, you carry out mercantile or commercial transactions. A business owner or client appoints you to act on their behalf. That means you help them find the goods they are looking for or buyers of the goods under your care. You have the authority to buy or sell goods on behalf of your client or consign them for sale. As a commercial agent, you can work for manufacturing companies, linking them to consumers. Unlike wholesalers or distributors, a commercial agent doesn't acquire ownership of the goods; they only sell or buy them in exchange for a commission.
Commercial agents mainly work for large manufacturing companies or deal with the transfer of assets involving complex transactions. Some commercial agents work in real estate selling land on behalf of their clients or acquiring assets. Your role in complex transactions is to help your client navigate the process. You also handle price negotiations and advise clients on the best deals to accept. The client makes the ultimate decision to purchase or dispose of assets.
Working as a commercial agent requires excellent sales skills to attract buyers for assets or goods you are selling. Negotiation skills also help you negotiate the best prices and terms of a transaction on your client's behalf.
Would working as a commercial agent suit your negotiation and sales skills? Then read on to discover the competencies and qualifications you need to thrive in a commercial agent role.
commercial agent jobsaverage salary of a commercial agent
The median salary of a commercial agent according to ONS, is £32,000 per year. Trainee commercial agents usually receive a salary based on the targets they achieve. Therefore, their take-home salary is below £25,000 annually. However, experts in the field take home a compensation package of over £50,000 a year. As well as a basic salary, commercial agents are often paid on a commission basis. Some companies only pay commissions after an agent closes a deal, while other organisations pay monthly salaries.
how to increase your salary as a commercial agent
The compensation package of a commercial agent varies depending on your experience level and educational qualifications. As an experienced commercial agent, you receive a higher compensation package than entry-level workers. Companies that pay commissions and bonuses also pay experienced commercial agents more since they are experts in selling or buying goods. When you have advanced qualifications and licences, you handle major deals worth a lot of money, which increases your earnings. Companies trust qualified commercial agents with complex transactions.
The company you work for also determines your earnings. For instance, some property developers or multinational corporations expanding into new markets rely on commercial agents to complete transactions. That means commercial agents working in those sectors are likely to earn more.
types of commercial agents
Commercial agents' precise roles depend on the goods or assets they sell or buy on behalf of the client. Some common types of commercial agents include:
- brokers: as a broker, you link the seller and the buyer to facilitate a transaction. You find a buyer for an asset or goods, but you don't negotiate on their behalf. Your job ends when the two parties meet.
- auctioneers: as a commercial agent appointed to sell goods through a public auction, you minimise losses to the client. You sell the items to the highest bidders, and the items are paid for on delivery. Therefore, you cannot sell goods on credit.
- commercial estate agents: you can work for the seller or buyer as a commercial estate agent. Your job is to find a buyer or seller of a property and negotiate a favourable contract for your client. You also assist with the creation of lease agreements.
working as a commercial agent
Working as a commercial agent involves being an intermediary. That means you always act in your client's best interests. Read on for the specific duties, work environment and job outlook of the role.
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duties and responsibilities
Some of the typical tasks of a commercial agent include:
- finding buyers or sellers of items: as a commercial agent, you connect buyers and sellers by acting as an intermediary. Your job involves finding sellers of the goods your client is looking for or buyers of your client's assets. You ensure buyers are legitimate and sellers offer favourable prices and purchase terms on behalf of your clients. You rely on your established networks to expedite the sale process.
- creating a customised sales plan: you lead the sale and purchase of diverse items on behalf of your clients. You interact with clients to determine their needs and interests and customise the sales plan to increase leads and boost offers.
- negotiating prices with clients: you represent your client in all transactions, so you negotiate prices on behalf of your employer. If you are selling goods, you ensure your clients derive profits from the sale. You aim to get the best deals and terms when buying goods from vendors.
- reviewing contracts: you ensure your client receives favourable terms and conditions when purchasing or selling goods. Your job is to review contracts and simplify complex transactions on your client's behalf. When reviewing contracts, you check prices to ensure both parties receive fair offers. You also ensure the terms of the agreement are met within the stipulated time frame.
- coordination: when a buyer and seller complete a transaction, you organise the logistics to ensure speedy delivery. You also ensure they receive after-sale services, such as the installation of products.
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work environment
Commercial agents work in diverse industries and work settings. In manufacturing, a commercial agent works in factories or warehouses supervising the packaging of goods for transport or reviewing product features for advertising purposes. In factories, commercial agents are exposed to noisy, climate-controlled manufacturing settings. Some commercial agents work in retail and spend the day indoors negotiating prices and preparing sales plans for various clients. The role involves travelling to meet clients or view properties with potential buyers.
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who are your colleagues?
Depending on your employer, your colleagues as a commercial agent include sales executives, estate agents, marketing executives and marketing coordinators. You also work with product managers and sales representatives, as well as other specialists that could include business development managers, account executives, accounts assistants, and factory managers.
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work schedule
As a commercial agent, you typically work the regular business hours of 9 am to 5 pm on Monday to Friday. Sometimes, you work overtime to complete urgent transactions, liaise with clients in the evenings or meet deadlines. It is a fast-paced role with full-time and part-time work schedules available. Some commercial agents work on a contract basis, and when they close a deal, they move to the next client. Opportunities for working from home are available, but at some point, you meet sellers or buyers physically to inspect goods or assets before completing transactions.
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job outlook
Commercial agents are useful for selling important assets or large quantities of goods. With the market shifting to eCommerce, commercial agents are also valuable in online sales. As a commercial agent, you can work in the digital space if you are experienced in online marketing techniques and eCommerce platforms. The role allows for diverse career progression opportunities. You can explore warehouse manager roles or sales and marketing careers like becoming an account manager, product manager or business development manager.
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advantages of finding a commercial agent job through randstad
Finding your commercial agent job through Randstad provides important advantages such as:
- a wide variety of training and development opportunities
- an experienced contact person to provide help if needed
- a range of opportunities in your area
- get paid weekly or monthly, depending on the job
- temporary and permanent contracts
Want a permanent contract? A temporary job as a commercial agent is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too.
education and skills
There is no training required to become a commercial agent. However, with the increased competition, having some qualifications gives you an advantage. Pursue a foundation degree or higher national diploma in business-related studies, estate management or property management.
Most employers, especially commercial agencies, provide on-the-job training to equip you with the skills required for the role. The training helps you learn specific sales processes and the software used in the profession.
skills and competencies
Some of the skills required for the role include:
- communication skills: you require effective communication techniques to relay information to clients and vendors. Your proficiency in communication is also useful for understanding and explaining contracts and agreements to your clients.
- sales skills: you rely on your sales skills to attract the right buyers for a particular deal. Your sales knowledge is important if you create personalised sales plans for various products or assets. You also use sales skills to persuade clients to sign contracts or help them understand the benefits of using your services.
- research skills: your research skills enable you to investigate your client's businesses and find the ideal market for their products. You use your research skills to identify potential clients and help determine suitable marketing campaigns to convert clients. You also research the best distribution or logistic plans for your client.
FAQs
FAQs about working as a commercial agent
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what is a commercial agent?
A commercial agent is an intermediary appointed to act on behalf of the seller or buyer during negotiations. You secure the best price for an asset on behalf of the seller or negotiate favourable deals for buyers. You review sale agreements and contracts and ensure both parties fulfil expectations. Want to learn more about working as a commercial agent? Then check out this article.
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what skills does a commercial agent need?
As a commercial agent, you require negotiation skills and persuasiveness to secure the best deals for your clients. Sales skills are also important for identifying potential clients and finding new markets for your client's products. Research skills are essential for developing marketing campaigns and finding favourable distribution channels. Want to learn more about working as a commercial agent? Then check out this article.
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how much do commercial agents make in the uk?
As a commercial agent, you earn a basic monthly salary or receive commissions for successful transactions. Commercial agents in the UK earn an average wage of £32,000 annually, while experienced agents take home over £50,000 annually. Want to learn more about working as a commercial agent? Then check out this article.
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how do I become a commercial agent?
You don't require a university degree, but some qualifications in business or finance boost your career prospects. Most employers focus on your experience and skills. Want to learn more about working as a commercial agent? Then check out this article.
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how do I apply for a commercial agent vacancy?
Applying for a commercial agent job is easy: create a Randstad profile and search our agent job offers. Then simply send us your CV and cover letter. Need help with your application? Check out all our job search tips here!
