Commercial Real Estate Work

Real estate work is a broad term. It includes different functions of property development, promotion and sale. Real estate work recognizes the need for property developments, identifies the land with potential for development, and utilizes it in an appropriate manner. Besides they take efforts to promote it and sell the property at a suitable price. Commercial real estate deals with commercial property used by general public. Common commercial real estate work profiles are:

Job Scope

There are various profiles that are a part of the real estate work. We have listed below the names of these profiles along with a concise description of their responsibilities.

Real Estate Developer: They are responsible to acquire land and construct building or purchase developed properties for purpose of sale. They must identify the locations with potential for land development. They specialize in commercial property development.

Real Estate Agents: They are dealers in buying, selling and renting properties. They are responsible to coordinate between the seller and buyer and ensure they receive the best deal in market. They communicate with the client, promote the properties, negotiate the pricing, and complete the real estate deals.

Real Estate Lawyers: They look after the legal aspects of the real estate transactions. They draft deeds, lease agreements, mortgage, financial documents, etc., to ensure legality in transactions. They ensure approval of land for commercial purposes. They identify instances of fraud and resolve legal disputes.

Real Estate Analyst: They analyze the trends in the commercial real estate markets. They gather details of properties regarding location, type, price, occupancy, availability of facilities, etc. Based on this information they analyze the current and future property values. They counsel clients on the best time to invest in properties.

Work Requirements

Educational Qualifications:

Candidates require a graduation in any of the following subjects: business administration, statistics, economics, finance or accountancy. Certain universities and institutes offer certificate, diploma or degree courses in real estate. Also, they have the alternative of opting for on-the-job training program.

Skills:

Skills required for real estate work are observation and analytical skills, ability to perform numeric calculations, competence in predicting the economic conditions, negotiation and convincing abilities, marketing strategy building, etc. Licensures: It is vital to possess the license to practice real estate. However the protocols to acquire licenses are different.

Wok Environment

• All real estate officers coordinate with their clients from offices. However, often they are required to travel to meet the clients, inspect locations or promote the sites. Also, the work timings are scheduled as per the convenience of the clients. They fix up appointments with clients and must report at their offices on time.
• Real estate work is performed in a fast paced environment. If work gets delayed, the broker may lose the client to other competitor. Hence, real estate officers must be quick in responding to client requirements and striking a deal.
• Certain officers spend the whole day in showing off properties to clients. They hardly get any time to sit and relax. For such officers, real estate work is physically straining and leads to stress.
• No notable safety risks are associated with real estate work

Career Prospects

• The job opportunities are expected to increase at a rate faster than average. Job prospects are expected in real estate agencies and also as independent services. Hence, dealing in commercial and residential properties appears lucrative as per the current economic standards.
• Real estate jobs are sensitive to the dynamics of the economic conditions. Increase in growth rate in economy results in better purchasing power in clients, thus enhancing the prospects and profitability for real estate jobs. Hence, economic stability is important for success of real estate jobs.
• Real estate work can be taken up as a full time employment with an organization or on contract basis with multiple organizations at once. Jobseekers can decide their career path as per their preference.

Real estate work is an interesting career. It offers challenges to the candidates that provide knowledge and growth opportunities to them. Hence, real estate is certainly a career prospect worth considering for the job seekers.