Real estate basically involves the sales, management and analysis of land and properties. With rapid urbanization, the real estate industry is witnessing a steady growth and is set to increase further, as more land is utilized and more buildings are constructed. The real estate sector also turns out the highest profits and so a career in it can prove to be quite lucrative. With land and property running the finance, it becomes extremely necessary that they be managed efficiently so that any goof ups can be avoided. Efficient management also brings in steady profits. Those who are armed with a degree in real estate management will find the industry welcoming them with open arms. This is because the course will equip the students with all the skills that are required to work in this sector. Read below to learn more on real estate management courses.
Courses In Real Estate Management
Eligibility
For a post graduation degree in real estate management the candidate must be a graduate in any discipline. He or she should also have the minimum percentage of marks that is specified by the university. Sometimes the students are also selected based on a national or university level aptitude test. Those with work experience are given first preference. For a diploma in real estate management, students who have completed their 10+2 level of education or an equivalent are eligible. There are also a number of certificate courses that interested students can go for. The minimum eligibility criteria for certificate courses are either graduation or schooling.
Details Of The Course Curriculum
The course seeks to equip the students with a comprehensive approach to real estate finance, marketing, legal issues and management of projects. As such, the students would get a thorough understanding of the real estate sector. This course, especially the diploma and certificate courses, are also very good for investors, employees of realtors, project promoters, real estate brokers, financial advisors, bank officials, tax planners etc., as they can have a practical knowledge of the real estate market. Though the structure of the course varies among universities, the student can expect to get knowledge of the following:
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Real estate development models
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Laws governing real estate
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Property valuation and property investment
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Regulating authorities, building bye laws, and sanction procedures.
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Architectural principles (including design fundamentals)
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Building material and fundamentals of civil construction
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Fundamentals of project management
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Entrepreneurship in real estate management
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Real estate marketing, advertising & PR
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Facility management
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Soft skills for real estate business
Specialization
There are generally four areas in real estate management, in which a student can specialize in. These are:
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Marketing and financial - this involves the understanding of the operating expenses of the property and also the budgeting.
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Tenant and occupancy - understanding the needs and satisfaction of the tenants is studied.
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Facility - the student will specialize in the physical management of structures and outdoor areas.
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Administration and risk management - deals with the documentation of all the files and records related to the property.
Skills Required
Students who wish to carve a career in real estate should have very strong interpersonal skills along with the ability of deal making. Apart from effective communication and sales skills, they should also have the ability to synthesize. The students should also have very good analytical skills. They should love working with people and have the eagerness to travel, sometimes on a daily basis, inspecting property. The sales skills are very important here as it will help them to strike profitable deals. Those blessed with an entrepreneurial drive can prosper in this field as the opportunities are vast.
Career Prospects
Real estate encompasses a large part of the economy and so the job prospects are very good in this sector. A degree in real estate will enable the candidates to work as a real estate analyst in any of the numerous real estate firms. As an analyst, they can also find employment in the government. Students can also be hired as agents to contact the customers on a day to day basis by the firms. Even banks hire a large number of real estate managers. Branching out on your own is also a tempting prospect. After a few years of experience, the real estate manager can set up consultancy firms or a real estate dealership.
Some Of The Best Institutes Offering This Course Globally
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International Institute of Real Estate, Investment and Finance, India
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Delhi Business School, India
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Indian Institute of Real Estate, India
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Kellogg School of management, USA
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The College of Estate Management, UK
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St. Xavier's College, Kolkata, India
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Harvard Business School, USA
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Bristol Business School, UK
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IILM Institute for Higher Education, India
