The real estate industry is a multi-trillion dollar industry that creates or supports over nine million jobs in the USA alone. A real estate career includes a diverse array of job options with many areas for advancement. For example, as a trained real estate agent you will make the most of your client’s investments in land and property by helping to assess and broker sales and purchases. If you are considering pursuing a career in this growing field, then you’ll want to enroll in a real estate degree, which will provide you with the knowledge and skills needed to launch your career.
To complete a bachelor's degree in real estate it generally takes four years. In such a competitive job market, where everyone is trying to get ahead and advance quickly, you might hear people getting certificates or licenses and immediately starting in entry-level jobs. It’s true that a real estate license will provide a certain level of education and preparedness, but increasingly the professionals who truly succeed have full academic real estate degrees. Courses you will take in a degree program might include business administration, finance, economics, and marketing. Everyone must decide how to jumpstart his or her own career, so here are five reasons why you should consider studying real estate.
1. Real estate professionals are in-demand
Worried about investing in a real estate degree? Rest assured, your investment in a degree is very likely to pay off because highly qualified and trained professionals in real estate are in-demand. According to the United States Bureau of Labor Statistics, “Employment of real estate brokers and sales agents is projected to grow 7 percent from 2018 to 2028, faster than the average for all occupations. Demand for these workers will continue, because people turn to real estate brokers and sales agents when looking for a home, such as to buy a larger home or to relocate for a job.” As property values change and fluctuate with the trends in market growth, you'll find employers are looking for motivated and talented real estate professionals who are willing to go the extra mile.
2. Job outlook and salary
Graduating with a real estate degree will set you up for success in a variety of potential jobs, not in the least limited to the following: brokers and real estate agents, real estate developers, appraisers and assessors, property managers, real estate licensing and education, and corporate real estate finance. Overall, salaries for these positions will vary depending on your training, skill level, degree, and experience.
In 2018, the United States Bureau of Labor Statistics reported a median average of $50,300 per year and $24.18 per hour salaries for entry-level real estate brokers and agents. And consider that a real estate degree will position you to likely enter at a higher salary, and also give you the tools to start at the corporate level, if so desired. For example, according to RealEstateExpress, if you work as a land administration manager, you will likely earn between $148,149 and $182,362.
3. Get the know-how and the legal protection you need
Working in real estate means you’ll need to maintain a working knowledge of best practices, especially in the legality of brokering sales and purchases. As the person in charge of orchestrating these transactions, you’ll need to know how to protect both yourself, your client, and the company you work for from getting entangled in a lawsuit. Property law and taxes are important courses you will want to gain knowledge of in your real estate degree. Just as in any field of study, specialization is key to advancement.
Tom Pfister, a real estate practitioner for over 25 years, writes in Forbes, “Of all the fields in the real estate industry (e.g., brokerage, acquisitions, investment, management), real estate development is the hardest field to enter. Why? Because it requires knowledge of all other real estate fields plus advanced knowledge in entitlements, land use, community partnership, construction and finance.” Your degree in real estate will provide you the foundational knowledge you’ll need to launch into any sector in real estate.
4. Never get bored, never stop learning something new
One married couple, Melissa and Nick Weinand and Jude and John Toner of The Proper Nest, partnering with William Raveis, are making a name for themselves in real estate on the north shore in Massachusetts. They are using innovative social media marketing and advertising strategies. Using drones to make sales films, and featuring their pets and children in the footage, the real estate team is evolving and changing how real estate is done, capitalizing on their tech know-how and attention to client’s needs. Suffice to say, in this business, you’ll never get bored, and you’ll also never stop learning.
As a real estate agent, you may find yourself working independently, setting your own hours, deciding how to manage your time and priorities, and perhaps working from home. In a recent interview with RealEstateExpress.com, Marcel Tessier, a real estate agent with more than 30 years of experience, explained, “You are your own boss, which is a big factor in why people get into it. The hours are a big factor. Of course you have to put in long hours, but as you get repeat clients they’re very flexible. After you’re established.”
5. Help people find their forever homes
At the end of the day, hard work and median salaries aside, working in real estate can be one of the most fulfilling jobs around. You can become an expert in an important sector in the world of sales and transactions, and, most importantly, you are the most important person to assist people in finding their forever homes.
Often one of the most emotional experiences, involving huge sums of money, purchasing and selling property, whether it is a home or a commercial building, can be stressful and scary. As a real estate agent, broker, or property manager, you can be on the front lines assisting people every step of the way in this multifaceted process. You will be helping people make life-changing decisions related to buying or selling real estate; people will look to you for guidance. “When you’re a real estate agent you sometimes become part counselor, part life coach, and part mentor. That can be very rewarding for real estate professionals who have a passion for giving back,” writes RealEstateExpress.com.
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world,” said former US President Franklin D. Roosevelt. No matter what kind of career you end up pursuing, with a degree in real estate in hand, you will be able to help people and communities build a world together.