Is Real Estate for You?

As you read this, there are more than five million people in the United States employed in identifiable real estate fields such as title insurance, construction, mortgage banking, property management, real estate appraisals, brokerage and leasing, and real estate development. In addition, many were engaged in corporate real estate and in real estate lending in commercial banks, savings and loans, and insurance companies where their jobs are not included in the real estate sector. Over a third of the world's wealth is tied up in real estate. Real estate is collateral for mortgages and a large amount of financial assets. As important as the field of real estate might be, it is also worth recognizing how interesting the work in this field is. Real estate professionals are tied to the development of our society in a very direct way and participate in decisions that will shape the way we live for centuries. Work in real estate is personally rewarding, ever-changing and challenging. Take some time and consider your potential in the field of real estate.


Skills and Requirements

People skills:
 High
Sales skills:
 Very High
Communication skills: High
Computer Skills: Low to Medium
Analytical skills: Medium
Ability to synthesize: Low
Ability to synthesize: Medium
Initiative:
 Very High
Work hours:
 20-70/week

Comments

  • The field of real estate involves the sale, management and analysis of land and properties. This is one of the largest parts of the economy and offers excellent job opportunities.

  • Real estate jobs tend to be more entrepreneurial and create opportunities to become wealthy if you have the right mix of analytical skills and entrepreneurial drive.

  • One of the exciting things about real estate is that it can be approached from so many different ways. You can be a white-collar worker projecting and analyzing cash flows from new developments with spreadsheets; an agent in the field with heavy contact with customers on a day to day basis; or an entrepreneurial property owner/manager looking for undervalued real estate buys and strategies for creating value.

  • There are a variety of ways to break into real estate. If you are interested in the sales side you need to get licensed and should go to work for a commercial or residential broker. If you would like to get involved in property acquisition and analysis you should get a higher degree with a specialization in real estate and go to work for a major property management company. There are also many other ways to enter including through corporate site selection departments, governmental entities and banks.