Real Estate

Buying property is not like buying a car. You can’t just walk onto a lot, choose the car you want, negotiate what you think is a fair price, sign a few papers, and drive away in your shiny new vehicle. When property is exchanged, a fair price must be agreed upon, homeowner’s insurance must be secured, and a thick pile of documents regarding title, taxes, terms, and more must be signed. All of these things are more complicated than they sound, and all of them benefit from the help of trained professionals.

Professionals in real estate include real estate brokers and sales agents. These people work with buyers to help them find the property they want. They also help sellers sell their properties.

In addition to real estate brokers and sales agents, there are real estate appraisers and assessors, who work with banks and other lenders to estimate the value of a property.

Finally, there are real estate inspectors, whose job it is to examine real estate according a strict set of standards and ensure that the property is safe and compliant with building codes, zoning regulations, and other ordinances.

To enter the field of real estate in the United States, you need, at minimum, a high school diploma. You must then pass a written test to be licensed. However, many reputable agencies offer preference to potential employees who have college degrees. This is because the laws and policies of real estate are becoming increasingly complex. Of course, you can also become an independent real estate broker, but a solid education about the fundamentals of real estate will serve you well as you move into negotiations with other brokers.

Your training requirements will vary depending on the state in which you intend to practice. However, if you want to become an appraiser, you must have at least a bachelor’s degree or the equivalent in credit hours.

If you choose to obtain a real estate degree from business school, you can expect to take courses such as mortgage financing, property development, property management, and other legal principles of real estate. For your foundational courses, you should also study business administration, finance, economics, statistics, law, and English. If you are considering going into business for yourself, you should take courses in accounting and marketing so that you are also prepared in areas not related to real estate.

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