When people talk about real estate, they often think about the economic aspects-the market, zonal values, development sites, etc. What is rarely discussed is the foundation of the industry – training and education.
Like any discipline, real estate isn’t just about salesmanship. It requires specific qualifications obtained through education, training, and the granting of a license to work in the industry. Real estate is also a relatively broad field, with various opportunities and professions available.
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Now you might be wondering how you could train in the field when most schools are still conducting classes remotely? It’s a valid question, especially since real estate involves physical spaces. The good news is that you can take courses on real estate online.
But what exactly could you do with a bachelor’s degree in real estate? As it turns out, quite a few.
Real Estate Brokerage
The first thing one would think of when pursuing a career in real estate is becoming a real estate agent. But what exactly is the difference between a real estate agent and a real estate broker?
We know that agents serve as the link between buyers and sellers, but a broker’s work involves that and more. A broker is someone with advanced education and qualifications to run a brokerage. An agent needs to work for a brokerage, while a broker can work independently. A broker’s work involves an agent’s job and the management of a real estate office, which includes drafting contracts and complying with legal requirements.
With your real estate degree, you can eventually open your own brokerage and employ real estate agents. It’s a path towards becoming a business owner in this sense.
Real Estate Appraiser
A real estate appraiseris different from a broker or an agent. In fact, their work needs to be independent of the work of a brokerage to ensure that their assessments are fair and unbiased.
Essentially, a real estate appraiser is tasked with figuring out the market value of a particular property. An appraiser’s work requires a lot of knowledge and doing a lot of research. They need to know about the market, the physical and economic characteristics of a space, and foresee the future of a specific area. Their work is essential in ensuring that any sale of a property is made at a fair price.
Real Estate Consultant
Real estate isn’t just about residential transactions. In fact, the big deals are made in the commercial real estate space.This is where the work of a real estate consultant comes into play. Some consultants work with residential buyers, but they mainly work with businesses and corporations. The consultant’s work, similar to that of an appraiser, is to assess the value of a property, but for the purposes of advising a corporation whether that property is worth the investment.
Whether for a firm or independently, working as a consultant is one of the more corporate roles in the real estate industry. For example, a business is looking to add real estate properties to its assets. A consultant would need to research the property to make a sound recommendation on whether to purchase it. They can also help property developers make decisions on their next development site.
Local Government Assessor
Just as there are corporate roles in real estate, there are also government roles. Working in real estate can also be a gateway to public service through the role of a local government assessor.The work of a local government assessor is similar to its private counterpart, but because it is a government position, it has its differences.
Like an assessor, training and education are required, but the purpose is a bit different. They both determine the market value of a particular property through research, but for a local government assessor, the aim is to compute a fair real property tax bill. A government assessor is also involved in some legal proceedings.
As with its private counterpart, honesty and integrity are essential in this position – even more so perhaps, given that this role is in government.
Other Office Positions
Like any profession, a degree in real estate is merely a stepping stone, and to what that is is primarily up to you. It can open your doors to other roles not listed here or maybe even roles you will create for yourself. Don’t let anything limit what you can become in this industry.
Everyone knows that real estate is a significant investment, but now they know that real estate education is an excellent investment for your future, too.