Currently in the U.S, more than 5 million people are working in the numerous branches of the vast real estate industry. While some find their jobs in the construction, mortgage banking, appraisal and title insurance, others find their ways into the real estate development, brokerage and leasing.
Additionally, thousands of other individuals serve as commercial banking lenders, loan officers, corporate real-estate agents and the insurance companies, but they don't officially belong to the real estate industry. Since real estate acts as a security for the mortgages and the base for huge amounts of capital, about 33% of the world's financial assets are associated with the real estate industry.
All the individuals working in the various real estate fields have profound effect on each and every one of our everyday lives and they help in development that will impact communities for years to come. A career in the versatile real-estate field helps to provide opportunities that will help to expand ones abilities and experiences and can truly change a person's life.
Skills required for Pursuing Real Estate Careers
The employers in the real estate industry look for individuals who are capable of making strong deals and full of interpersonal abilities. One requires having high people skills, very high sales skills, a high initiative and a bit of analytical skills.
Abundant job opportunities are there for those people who are good in property management as well as dealing with sales. Those individuals who have plentiful of knowledge related to industries and an entrepreneurial heart, real estate can do wonders for them.
You can actually get into the real estate industry in a number of ways. Numerous positions for financial analysts are available in real estate and a good number of customer service positions are available for the socialites. If you are a keen investor, you will surely get plenty of investment opportunities every now and then.
There might be dozens of ways to get into the world of real estate, but if you are aiming to become a real estate agent, you will be required to obtain a real estate license and then get a contract with a brokerage. If you are more into property acquisition, you will be required to complete a degree in real estate. These skills are a prerequisite in the giant property management firms.
Real Estate Broker / Residential
The buyers and the sellers both play a vital role in the real estate business. Their role is an important part in the real estate transaction process. Typically, the buying and the selling agents charge a specific amount of commission off the property they are dealing with.
Normally this sum is around 3% in the United States where they are at present more than 400,000 brokers and agents are there in the working field. The minimum qualification required to become a real estate agent is a high school diploma. The person is then obligatory to do a training course in order to achieve a pass in the licensing exam.
However, above all the most significant requirement is the interested person's age that should be over 18 years. Anybody who desires to pursue a carrier on the real estate business can refer to the National Association of Realtors website for comprehensive details.
Real Estate Appraisal
Appraiser is an eminent term when talking about real estate business. Characteristically their task in this particular field is providing fair value assessments regarding the properties using the comparative market data or estimated property cash flow to come up with an estimation of the value.
Typically, most of the appraisers work under an appraisal firm or at a bank where they are provided with the best grounds to the access in their relevant data. Due to their involvement in both the refinancing as well as the new sales, Appraisers are generally seen to be busy all year round even during the times when the Real estate business is detected to be slow. Further information on the appraisal issue can be obtained from any of the Appraisal Foundation.