The Ultimate Guide for a Career in Real Estate Management

Last Updated on February 14, 2024 by Admin

In the last few decades, India’s real estate market has exploded. After the agricultural sector, it is the second-largest sector in the country in terms of employment. It also offers up opportunities for direct foreign investment in India and real estate careers. It invites new professionals and agents who want to make a name for themselves in this field. Read this ultimate guide for a real estate management career.

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Although there are some risks associated with real estate investments, they nevertheless have a lot of potentials. Real estate is a popular investment option for many people. In India, choosing real estate as a professional path is not for the faint of heart. To be successful in this field, one must possess certain specialized qualities.

Table of Contents

What is the scope of Real Estate Management?

The Indian real estate industry is one of the most well-known in the world. Housing, retail, hospitality, and business are the four sub-sectors. The expansion of this industry is aided by the expansion of the corporate environment, which has increased demand for office space as well as urban and semi-urban lodging.

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NITI Aayog expects that the Indian real estate sector will reach a market size of $1 trillion by 2030 and will account for 13 percent of India’s GDP by 2025. Already the third-largest sector to bring about economic growth, the real estate industry is expected to continue its upward trajectory in 2023.

In terms of direct, indirect, and induced effects in all sectors of the economy, the construction industry ranks third among the 14 key sectors.

After agriculture, the construction and real estate sector creates the second-highest number of jobs in India. This sector is also likely to attract greater non-resident Indian (NRI) investment, both in the short and long term.

The most popular property investment destination for NRIs is projected to be Bengaluru, followed by Ahmedabad, Pune, Chennai, Goa, Delhi, and Dehradun.

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Top Real Estate Career in India

If a person wishes to advance in the real estate industry, the following are the career options available to him after completing a real estate course. These are the real estate job possibilities in India. To put it another way, he can pursue a profession in any of the following fields:

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Realtor

To be a successful agent or realtor, you’ll need excellent interpersonal skills as well as a thorough understanding of local real estate laws, financing alternatives, mortgages, and fair housing legislation.

This is one of the most popular real-estate careers because you can possibly earn unbelievable sums of money. However, this is contingent on the realtor’s ability to grow his or her territory or the number of hours he or she can work.

Real Estate Appraiser

Real estate appraisers are specialists with solid accounting experts who are in charge of determining the property’s financial worth. An appraiser is a professional who studies the history of a property to evaluate the home’s or loan’s value and tax responsibilities.

They are mainly employed by banks and real estate businesses. Appraisers can expect to earn a lot of money because they work in a specialized field that requires licensing and education.

Real Estate Consultant

For real estate agents with substantial experience in the sector, real estate consulting is quickly becoming an appealing second career. Counselors provide guidance and recommendations for the purchase and sale of various assets.

They also collaborate with realtors and property investors to assist customers in making the best selection possible. Given the current real estate boom, their significance in the industry cannot be emphasized, particularly when customers seek professional guidance on their property investments.

Property Manager

This position would be ideal for someone with a strong sales history. A property manager’s job is to protect the client’s assets by hiring the right people to look after them, responding to emergencies, and giving owners and investors timely feedback.

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They might collaborate with real estate companies or private investors. The position is meant for a more advanced level in a real estate career and comes with its own set of incentives and awards. The manager is in charge of the rental operations as well as the property’s upkeep, as well as coordinating the purchase and sale of a property with a real estate agent.

Leasing Agent

Leasing agents assist property managers in finding suitable tenants for their properties. They successfully negotiate the complex property market to connect prospective tenants’ demands and economic feasibility with the property owner’s interests.

They take care of lease signings and act as the landlord on behalf of the property owners. Leasing agents are well-respected in the industry for their extensive knowledge of the real estate market and ability to provide customized answers to questions about school districts, zoning, and expansion, among other things.

Apart from the above, there are several types of jobs in real estate development, including:

Real estate developer: responsible for identifying and acquiring land, securing financing, and overseeing the planning, design, and construction of a development project.

Project manager: responsible for coordinating the various teams working on a development project, such as architects, engineers, and construction crews.

Real estate finance professional: responsible for securing funding for a development project through traditional lending or alternative financing options.

Real estate market analyst: responsible for researching and analyzing market trends and conditions to inform decisions about development projects.

Architect or designer: responsible for designing and planning the buildings within a development project.

Construction Manager: responsible for overseeing the construction of the development project.

Sales agent: responsible for selling the property to buyers.

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Why should you study Real Estate Management?

The study of real estate management is an important area for anyone interested in obtaining a job in the field. This study will teach students about all aspects of managing property and buildings. It will also give them a firm foundation in the industry.

As a certified real estate agent, you’ll assist your clients to get the most out of their land and property assets by assessing and brokering sales and purchases.

If you want to work in this fast-growing sector, you should enroll in a real estate degree program, which will provide you with the knowledge and abilities you need to get started. These are the most compelling reasons to pursue a degree in Real Estate Management.

Real estate professionals are in high demand.

From 2018 to 2028, the employment of real estate brokers and sales agents is expected to expand by 7%, faster than the average for all occupations. Because consumers resort to real estate brokers and sales agents when shopping for a property, such as to buy a larger home or relocate for a career, demand for these professions will persist.

Employers are searching for motivated and talented real estate professionals that are willing to go the additional mile as property prices alter and fluctuate with market growth patterns.

Salary and job prospects

With a real estate degree, you’ll be prepared for a range of careers, including brokers and real estate agents, real estate developers, appraisers and assessors, property managers, real estate licensing and education, and corporate real estate finance, to name a few. Overall, pay for these jobs varies depending on your education, skill level, degree, and experience.

Acquire the knowledge and legal protection you require.

Working in real estate necessitates a working understanding of best practices, particularly when it comes to the legality of brokering transactions and purchases.

You’ll need to know how to protect yourself, your client, and the organization you work for from getting caught in a lawsuit as the person in charge of coordinating these transactions.

In order to get a real estate degree, you’ll need to take classes in property law and taxes. Specialization, like specialization in any other field of study, is essential for advancement.

Never become bored, and never stop learning new things.

They employ cutting-edge social media marketing and advertising techniques. The real estate team is expanding and altering how real estate is done, capitalizing on their tech know-how and attention to client needs, by using drones to shoot sales films and include their pets and children in the footage.

To put it another way, you’ll never be bored in this field, and you’ll never stop learning. You may find yourself working independently as a real estate agent, setting your own hours, selecting how to manage your time and priorities, and even working from home.

Assist folks in locating their forever homes

Working in real estate can be one of the most gratifying occupations available, despite the hard labor and mediocre earnings. You have the potential to become an expert in a key area of sales and transactions, and you are the most significant person in assisting people in locating their forever homes.

What are the reasons behind becoming a real estate agent?

If you consider these reasons for being a real estate agent, you may want to consider pursuing a career in Real Estate Management.

You have the opportunity to be your own boss.

The majority of real estate agents are self-employed. They get to establish their own hours and make their own decisions about how they manage their time and priorities. You can work from home, set your own goals, and profit from your accomplishments.

When compared to other professions, choosing a real estate career might be a rapid procedure.

If you’re wanting to change occupations, being a real estate agent takes less time than becoming a surgeon, for example. This isn’t to say that it’s a simple decision; rather, it means that there are educational options available to people from all walks of life.

Real estate has earning potential.

You’re not restricted to a certain hourly wage or even a specific salary group. Your biggest restrictions are how well you can establish and build your business, as your profession is ultimately your business. It has the potential to be extremely profitable.

You’re an expert in your field.

You’ll discover that after spending time learning how to become a real estate agent and then improving your talents, you’ve truly become informed and skilled at what you do. Clients come to you for market guidance, and you’ll know exactly what to say. Real estate agents are proud to be specialists and, as a result, teachers.

Real Estate Management study in India

Different types of educational programs for Real Estate Management are offered in India. Real Estate Management courses are available all around the world for those looking to get started in their careers. You may be able to learn online regardless of whether your favorite institution is located in another nation.

These courses are available in both an offline and an online format. Graduate, postgraduate, and doctoral level courses in real estate management are available.

Aside from that, institutions and other providers such as Udemy, Coursera, and EDX provide several online Real Estate Management certificate courses.

Many schools have developed various courses for real estate professionals in response to market demands. This real estate education and certification courses should be completed before you begin your career.

NICMAR Pune

NICMAR, one of the prestigious construction and real estate management institutes in India offered a full-time, residential programme for degree holders, offered by the Pune campus.

PGP REUIM: Post Graduate Programme in Real Estate And Urban Infrastructure Management.

RICS School of Built Environment Mumbai

RICS SBE, one of the best construction management colleges in India, collaborated with Amity University to offer specialized real estate management courses.

MBA in Real Estate and Urban Infrastructure
BBA in Real Estate and Urban Infrastructure

India Institute of Real Estate, Pune

The India Institute of Real Estate (IIRE) is a non-profit organization based in New Delhi, India. It provides a variety of real estate-related certification courses and training. It is accredited by the National Association of Realtors in the United States.

Guru Gobind Singh Indraprastha University, Delhi

Guru Gobind Singh Indraprastha University was founded in 1998 by the Government of the National Capital Territory of Delhi. The Guru Gobind Singh Indraprastha University Act governs the situation.

Akruti Institute of Real estate management and research, Mumbai

A two-year postgraduate diploma in real estate management is offered by Akruti Real Estate Institute.

Yajnas Academy of Real Estate Management, Hyderabad

Yajnas Academy of Real Estate Management (YAREM) offers real estate management courses on a full-time, part-time, and distance basis.

National Institute of Real Estate Management, New Delhi

The National Institute of Real Estate Management (NIREM) provides accredited courses, diplomas, and master’s degrees in a variety of real estate professions. It also offers the option of distance learning.

Austal Education, Bangalore

In India, Austal Education also offers a variety of real estate development courses.

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The typical Course curriculum of Real Estate Management

In most the institutions, the subjects in real estate courses are comprised of the following:

Real Estate Laws
Entrepreneurship in Real Estate Management
Architectural Principles
Property Investment
Facility Management
Real Estate Development Models
Property Valuation
Real Estate Marketing
Advertising
Fundamental of Civil Construction, etc.

Best Real Estate Management courses (Free + Paid) in India

There are numerous institutes and universities in India that provide short-term real estate courses. The duration of these programmes ranges from 2 weeks to 6 months, depending on whether they are certificate or diploma programmes. The top five paid real estate management courses are as follows:

EDP-Sales and Marketing Management for Real Estate certificate course by XLRI institute
Property Management Certificate course by NIREM institute
Real Estate Business Management certificate course by REMI institute
Real Estate Marketing Diploma course by NIREM institute
Chartered Real Estate Professional certificate course by AAFM India institute

You can also find some free courses on Real Estate management on Udemy & Coursera

Risks of failure in the real estate sector and how to overcome them

Following are the risks in a real estate career:

Net income: While a job in real estate development pays well, it is not a “rocket” that will take you to new heights at the conclusion of the countdown. Many expenses, such as a phone, a vehicle, personal marketing, gifts, and so on, will diminish your net income.

Tip: During the first several years, try to work with a different broker. This will save money on office supplies, phone calls, and business cards, among other things.

Intense competition: The number of real estate agents has risen dramatically in recent days. As a result, there is fierce competition in this field.

Tip: When it comes to dealing with the market’s competitiveness, you should be very wise and utilize your best judgment.

Unrealistic expectations: Many people feel that their large network of friends and family will assist them in the early stages of their career development. However, many of them turn on you when you’re in need. Second, newbies tend to overestimate the typical number of transactions in the same business, resulting in failure.

Tip: Analyse the prospective consumer region and the projected number of transactions per year in detail.

Exhaustion: The majority of people leave our profession because they are completely exhausted or burned out. Such people frequently claim that they drove thousands of miles and showed thousands of homes, but the deal ended without a single transaction.

Tip: Set a buying schedule for your customers and motivate them to buy. Make a list of questions that you must answer in order for the trade to be successful.

Conclusion

In India, the real estate business is the fastest growing and most demanding. Because the real estate industry is so dynamic and ever-changing, experienced professionals must regularly skill and re-skill to keep current with the newest industry trends in order to differentiate themselves and their businesses. You can go too far if you obtain certain skills essential to begin a career in real estate management.

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FAQs

What are the highest-paying real estate careers?

There are a number of different real estate careers that can be quite lucrative. Some of the highest paying real estate careers include being a real estate developer, a real estate broker, or a real estate investor. Real estate developers typically make a lot of money through commission-based sales, while real estate brokers typically earn income through fees charged for their services. Real estate investors make most of their money through capital gains on property investments.

Is there MBA in real estate management?

MBA in real estate management is one of the most popular and beneficial degrees that students can pursue. This degree provides students with the necessary skills and knowledge to effectively manage real estate properties. The coursework for an MBA in real estate management typically covers topics such as finance, accounting, marketing, and law. This degree can be extremely beneficial for those who wish to pursue a career in this field.

Is Property Management and real estate management same?

Property management and real estate management are related but distinct fields.
Property management is focused on the day-to-day operations and maintenance of a specific property or properties. This includes tasks such as collecting rent, handling maintenance and repair requests, and enforcing lease agreements. Property managers also are responsible for making sure the property is in compliance with local laws and regulations.
Real estate management, on the other hand, is a broader field that encompasses property management, as well as other aspects of real estate such as development, investment, and finance. Real estate managers may also be involved in the acquisition and disposition of properties, as well as the management of a portfolio of properties.
In short, property management is a subcategory of real estate management and focuses on the day-to-day operations of a property or properties, while real estate management covers a broader range of real estate-related activities.

Why study real estate as a career?

There are many reasons to study real estate as a career. For one, real estate is a stable and secure industry that is always in demand. Real estate professionals help people find the perfect home or investment property, and can also offer advice on financial planning and property management. Additionally, real estate offers great opportunities for career growth and advancement. Real estate agents and brokers can start their own businesses, or move up into management positions within larger companies. With the right education and training, studying real estate can lead to a very successful and rewarding career.

Is a real estate degree worth studying?

Whether or not a real estate degree is worth studying depends on an individual’s career goals and interests. A degree in real estate can provide a comprehensive understanding of the industry and the skills necessary to succeed in various roles, such as property management, development, investment, and finance. It can also open doors to a wide range of career opportunities and provide a strong foundation for further education and professional development.