How To Build A Career In Real Estate

We all know that a career in real estate is very lucrative

. With constant appreciation in value and frequent price hikes, real estate is known to be rewarding in terms of returns on investment. It is also thought of as one of the safest areas for investment, as it is common knowledge that property values seldom deteriorate, yielding high returns on investments.

Building a career in real estate is tricky but highly beneficial. It requires honing your skills in negotiations, public relations, management as well as finance. However, anyone can start a career in real estate, provided he or she has the right knowledge. A hard and fast educational background is not required, but a degree in engineering or architecture will surely help. Also, a part time graduation in business management or an MBA would be a powerful tool and help you kickstart your career in this profitable field.

Real estate is a business and like any other, it requires a lot of planning and preparation. The first and foremost thing to do when starting a real estate career is to acquire a legal licence. Once the license has been acquired, one can start making choices. You can get into constructions or sales, or both, as either of them are very profitable options. You can also choose between the commercial and residential side of real estate. Residential real estate is targeted at people who are looking to buy better homes and involves residential buildings and townships. On the other hand, commercial real estate involves commerce oriented people and deals with office complexes, commercial buildings and the likes.

Getting a formal education is the best and the safest method to prepare yourself for this money-spinning career. If you have a professional qualification, established firms are likely to hire you. You can then slowly garner experience and build your way up to the top. There are a number of diploma, degree and post-graduation courses offered by numerous institutes. These courses not only act as formal qualifications, but also offer a lot of practical on field knowledge.

After completing your education, you can start off as an intern with a reputed real estate firm. Starting as an assistant is another good option. This way, you can slowly and gradually build your skills and start on your own when you feel you are ready. Some ground level positions people are known to start with are that of a financial analyst, market analyst, assistant project manager, property accountant and so on. Also, if you have enough capital and contacts, you can also start your own venture by buying out a rundown place and renovating it for sale.

Whichever career stage you are in, keeping a positive reputation in the market is of utmost importance as bad referrals can cause one to lose business. Real estate can be very rewarding when you do your job well, but a bad reputation can damage your earnings irreversibly. With real estate, you are your own boss and it is up to you to plan your business. One should stay motivated and constantly build contacts in order to grow in the real estate business. After all, you will be helping people make one of the biggest purchases of their lives. It is also important to gain thorough knowledge about the legal clauses involved in this business as it is an aspect you will be involved with. So if you have socialising and networking skills, combined with a genuine interest in the field, real estate will surely be a the right career for you.

by: Er Vinod Jethwani

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