Career In Real Estate
Real Estate is also called “real property.” Land and anything permanently affixed to the land, such as building, fences and those things attached to the buildings. Things such as light fixtures, plumbing and heating fixtures, or other such items that are not attached would be personal property. Therefore if you are the field of real estate you will be dealing with a piece of land and whatever physical property is on it. You could function in the capacity of a real estate agent or a real estate manager
The Prospects
Real Estate sector is expanding at a tremendous rate and the market is witnessing this upswing in full growth. The continual growth that is happening is due to the booming economy and investment in the country. The turn is giving the sector a great uplift and creating numerous job opportunities for young and experienced professionals that were never before.
Everyone knows construction and real estate sector as one of the largest employment provider for so many years. But now with the real estate boom, new avenues are opened, which has bring forth the excellent job opportunities. The job prospects in the industry are not confined to just construction labor and civil engineering. The growth of organized construction and building industry, especially housing and urban development spawned a plethora of opportunities and the benefits are there for professionals of all hues and colors.
There is a continuous need for professionals in private as well as government agencies in areas concerned with developing, appraising, financing and merchandising residential, commercial and industrial real estate.
The rewards of a real estate management career are a potential for high earnings, status in the community, autonomy, time freedom, helping people, the intellectual challenge and the satisfaction from those accomplishments.
The concept of Real Estate Management is becoming all the more relevant in India today in the face of the booming real estate business in India. Real Estate transactions have been seeing a surge in India due to the ease of availability of loans by banks and the low interest rates.
Prominent real estate management companies are very few in India because the business is only becoming consolidated recently. However, there are number of individuals involved in real estate business. A surety is that real estate business is set to grow especially since the real estate boom is here to stay in India.
Most real estate management companies work in the field of property management, wherein when the owners of apartments, office buildings, retail and industrial properties lack the time or expertise to assume the day- to-day management of their real estate investments, they often hire a real estate manager, or contract for one's services with a real estate management company. Real estate and construction companies are also offering opportunities for employment with mortgage bankers, consulting firms, real estate developers, property management firms, commercial banks, saving associations, insurance companies and residential or commercial and industrial brokerage offices.
The Job
- Real Estate managers perform an important function in increasing and maintaining the value of real estate investments for investors
- They administer income-producing commercial and residential properties and manage the communal property and services of condominium and community associations
- Real estate managers plan and direct the purchase, development, and disposal of real estate for businesses
- Most real estate managers handle several properties simultaneously
- Real Estate managers act as the owners’ agent and adviser for the property
- They market vacant space to prospective tenants, through the use of a leasing agent, advertising, or by other means, and establish rental rates in accordance with prevailing local conditions
- Some of the real estate managers are employed by businesses to locate, acquire, and develop real estate needed for their operations and to dispose of property no longer suited to their uses
- These real estate managers locate desirable sites for factories, retail stores, hotels and motels, and other business ventures and arrange to purchase or lease the property
- Real estate managers who work for land development companies acquire land and plan the construction of shopping centers, houses and apartments, office buildings, or industrial parks.
Personality Traits
- Goal-oriented
- Persevering
- Self-motivated
- Ambitious
- People-oriented
- Good communication skills
Salary
Real estate can be a very potential source of income when it is leased to others. On the other hand, it also represents a substantial business expense when it is leased from others. It is precisely for this reason that real estate management companies perform an important function in increasing and maintaining the value of real estate investments for investors. Real estate management jobs provide flexibility and freedom to set your own pace. In this field the income directly reflects your efforts. The best part is that there are no limits on what astute, hard-working men and women can earn.
Study Route
There is no specific line of study that one needs to follow to follow the career of real estate. But it is recommendable to take up Commerce or Arts subjects while in school. After a graduation in the following lines of interest to you, you could do a diploma or a short-term course in real estate.
Another route that can be followed is to specialize in a program that leads to a bachelor’s degree in real estate management. Some universities like the Delhi University and Bombay University offer the courses at the graduate level. Real estate publications keep an updated information on the new courses and programs that are available for students, therefore referring to them will also give you the latest news in real estate.
Source: Compass One
Date: 6th Jan., 2010
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