Commercial real estate agents in Canada
A commercial real estate agent represents buyers, sellers, landlords and tenants of property used for business: offices, retail, industrial and warehouse space, land, and larger apartment buildings. In most provinces commercial agents hold the same kind of licence as residential agents, but the work is different, it turns on income, leases, zoning and the needs of a business rather than a household.
The commercial agents listed here work on sales and leases across Canada, for owners, investors and businesses looking for space.
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Are you an agent? List here freeHow to lease commercial space
Start with what the business needs, size, location, access, loading, parking, power, zoning for the intended use, and how long it is prepared to commit. Then look at the total cost of occupancy, not the base rent alone. Commercial leases differ in who pays property tax, insurance, maintenance and common-area costs, and those additional charges can be a large share of the total.
A commercial lease is a long, negotiated contract. Points worth negotiating include the term and renewal options, rent-free or reduced-rent periods, landlord-funded improvements, the right to assign or sublet, exclusivity for your type of business, and what happens at the end of the term. Have a lawyer review it before you sign.
Tenant representation and landlord representation
A landlord’s leasing agent works for the landlord, to fill the space on the best terms for the landlord. A tenant representation agent works for the business looking for space: they survey the market, approach landlords, compare offers and negotiate. On many leases the landlord pays the commission for both sides, but how each agent is paid should be set out in writing.
For buyers and sellers the same applies. Each side should have someone representing its interests, and if one brokerage acts for both, the rules on multiple representation in your province apply.
Buying commercial property
Commercial property is valued mainly on its income. Due diligence covers the leases and rent roll, tenant quality and lease expiry dates, operating costs, the physical condition of the building, environmental history, and zoning and permitted uses. Environmental assessments are standard on industrial land and common elsewhere.
Financing is underwritten on the property’s income, with different ratios and longer timelines than a home purchase. Commercial mortgage brokers and commercial appraisers are listed separately on this site and are often part of the same transaction.
Common questions
What is the difference between a commercial real estate agent and a broker?
The titles depend on the province. In general, a brokerage is the licensed firm, a broker holds a higher level of licence that allows them to manage or supervise, and an agent or salesperson trades on behalf of a brokerage. In everyday use, “commercial real estate broker” often just means a commercial agent.
Who pays the commercial real estate agent on a lease?
On many leases the landlord pays the commission, which is shared with the tenant’s agent, but arrangements vary. Your representation agreement should say how your agent is paid and whether you could owe anything.
What is a triple net lease?
A lease where the tenant pays base rent plus its share of property tax, insurance and maintenance costs. Under a gross lease, those costs are included in the rent. Most commercial leases sit somewhere between the two, so read exactly what the additional rent covers.
Do I need a commercial agent to lease a small space?
No, but a tenant’s agent costs the tenant little or nothing on many leases and knows what other tenants have negotiated nearby. Without one, the only agent in the conversation works for the landlord.