Career in Real Estate Management

Palak Singh Career Guidance Leave a Comment

A real estate professional deals with high-value property possessions. He is required to have a vivid understanding of what each of his client is searching for, line up these needs with the broader market situations and should be capable to convey price in a composite and shapeless marketplace. The services of a real estate professional range from presentation of properties, analysing the areas sales information, probing contracts prior to making offers or concluding deals. Arbitration skills are totally mandatory to achieve something in this field, and these are best learned by observing experienced veterans.

Educational Background

The residential real estate broking sector at present is growing at a rate of approximately 20 to 25 per cent per annum and is estimated to be worth about Rs 3000 crores. The opportunities in this field are highly rewarding. So, to be working in this sector s a sensible choice.
Some graduate students opt to focus in a specific area of real estate management, for example going for Post graduate courses in Property Investment, Property Development, Real Estate Management, Surveying, Environmental preservation, ‘Town and Country Planning’ and ‘Planning and Environment’.

Eligibility

There is no permanent norm for anyone desiring to enter the industry of real estate consulting. Though, it will be very useful if one has an academic background in marketing communication and business management. On the other hand, if one wishes to get in to the technical side of the big business, an academic background in civil engineering or architecture is more preferable.

Requirements

The most important set of knowledge that are necessary in this sector are the enthusiasm and force to toil with India’s challenging rich. Other skills may be similar to what one may need to have if one were working for a wealth management firm. The work is the same — advice and service and builds a personal association with them. One would also consistently need to update oneself on the sector and be aware of the latest market trends as well as future market predictions.
Employment opportunities are available with utilities services, in private practice, commercial organizations, for trusts and heritage organizations, the public sector and local and central government, in a range of activities including domestic, commercial and industrial projects.

Cost

A course in real estate management usually costs something between 1.5 lac and 4.5 lacs per annum depending on the university or institute one chooses. If one wishes to study from a Tier-1 private institute then the cost will be a bit on the higher side.

Salary

A management trainee usually earns a salary of Rs 4.5 lacs per month and a senior manager generally gets a salary of Rs 12 lacs per month .The pay structure of the higher management and directors might vary depending on the property counseling firm.

Pros/Cons

Pros

The intensity of sales incentives in a real estate firm tend to be excessively greater than in an economic services firm.

Cons

This business is extremely shapeless and uneven in India

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