As we discussed in an earlier post that the world of real estate is not limited to a real estate agency, likewise careers in this dynamic field are not limited to being an agent or a broker only. While brokers and agents still constitute the largest part of real estate workforce, there are many other job opportunities in this sector. Here we are going to outline the more popular of these other job positions.
Real Estate Construction & Development Related
Builders and Developers are always looking for construction managers or assistants that can help them furnish their projects in time. Construction management is a field in itself and will require one to deal productively with labor, establish and manage timeline effectively, as well as fit all other pieces of the jigsaw puzzle together such as equipment availability etc.
Ofcourse there is a heirarchy to real estate development related jobs where career normally begins as a development analyst. The analyst's job is to calculate the developers' return on investment given different construction scenarios. The analyst may take on additional roles such as market research etc.
Above the analyst in this heirarchy are project managers or "associates" as they are often called who are primarily responsible for a specific unit within devloper's portfolio of real estate projects. These project managers co-ordinate with other service providers such as architects, contractors, lawyers etc and make sure that project is completed in time. Project managers also supervise the financial analysis and report to the senior management.
The senior managerial role is taken by a Vice President in a real estate development firm. VP's are responsible for more than one project and deal with the most important and strategic issues that decide the overall fate and profitability of the project.
Real Estate Investment & Advice Related
Real Estate Advisory companies offer valuable insight and advice to real estate investors. These investors can either be institutional in nature or individual as in the case of high net worth professionals. Advisory's job is to identify the risk level of these investors and suggest properties that will yield the best returns.
Similar to the development firm, real estate advisory companies also consist of financial analysts at their base level. Here you will have to deal with issues like how the local market is moving, what tax rates are applied, what other costs are involved with the transaction, what returns are expected etc. Basically your task is to cover valuation analysis for real estate acquisition in consideration as well as performance reporting for those already acquired by the investor.
Moving up the ladder is the Portfolio Associate who will basically interact with the property manager and make sure that investor's interests are taken well care of. The associate will also take some decisions that involve a limited amount of capital such as property maintenance or enhancement.
At the top of the ladder is a Portfolio Manager who is primarily responsible for managing the entire real estate portfolio of an investor. The portfolio manager takes strategic decisions such as which properties to acquire and which to dispose of, and hence plays the vital role in appreciation of investor's equity.
Showing posts with label Real Estate Management. Show all posts
Showing posts with label Real Estate Management. Show all posts
Friday, August 8, 2008
Top Careers in Real Estate
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Wednesday, June 25, 2008
An Introduction To The World of Real Estate
"You are all here for one purpose ... Make Money"
That's how Amanullah Panjwani broke the ice in our first class of real estate management.
Honestly, his judgement is as close to truth as white is to white. No matter what be the background of any participant and whether his goals are of short term or long term nature, the purpose is to make as much money out of the knowledge learnt during this course as possible.
A brief overview of the real estate industry is what I'll try to cover in this blog post.
A real estate agency is the first thing that comes to one's mind when thinking about property business. However, it is only one of the three major ways of making money in real estate business. The other two are investment and operation. Let's have a closer look at each one of these.
Real Estate Investment means aqcuiring real estate for the purpose of either generating an income through it, mostly in the form of rental charges, or holding it to be sold later when the price increases. A lot of capital and risk is involved with investment activities, however the gains are rewarding as well.
Real Estate Operation is another division that involves lots of money. Here the real estate entrepreneur engages in buying as well as improving the condition of his real estate for significant gains.
It's the operation part of real estate that consists of activities involving the development of land and construction of buildings. New housing schemes are mostly vacant tracts that real estate developers buy in wholesale and in not-so-great condition, and invest money to improve and develop these wild pieces of land into smaller plots that can be marketed to the general public. The development of streets within the housing society in addition to securing road access and public utilities is also an important aspect of this real estate operation.
Apart from the land, real estate operation also involves construction of buildings and structures either for a one-off sale or recurring income generation purposes.
Real Estate builders and developers belong to this division of real estate business.
Real Estate Agency, last but not the least, means dealing in real estate on behalf of others. These deals could either be buying and selling of real estate between two parties as negotiated through a real estate broker of the appointed agency or these can also include rental agreements for residential or commercial properties, again assisted via the real estate broker. Apart from the brokerage activities, an agency also has to dedicate management staff towards keeping a positive balance between its income and expenses.
Setting up a real estate agency is the lowest cost option and needless to say attracts more businessmen than the other two divisions of real estate business.
That's how Amanullah Panjwani broke the ice in our first class of real estate management.
Honestly, his judgement is as close to truth as white is to white. No matter what be the background of any participant and whether his goals are of short term or long term nature, the purpose is to make as much money out of the knowledge learnt during this course as possible.
A brief overview of the real estate industry is what I'll try to cover in this blog post.
A real estate agency is the first thing that comes to one's mind when thinking about property business. However, it is only one of the three major ways of making money in real estate business. The other two are investment and operation. Let's have a closer look at each one of these.
Real Estate Investment means aqcuiring real estate for the purpose of either generating an income through it, mostly in the form of rental charges, or holding it to be sold later when the price increases. A lot of capital and risk is involved with investment activities, however the gains are rewarding as well.
Real Estate Operation is another division that involves lots of money. Here the real estate entrepreneur engages in buying as well as improving the condition of his real estate for significant gains.
It's the operation part of real estate that consists of activities involving the development of land and construction of buildings. New housing schemes are mostly vacant tracts that real estate developers buy in wholesale and in not-so-great condition, and invest money to improve and develop these wild pieces of land into smaller plots that can be marketed to the general public. The development of streets within the housing society in addition to securing road access and public utilities is also an important aspect of this real estate operation.
Apart from the land, real estate operation also involves construction of buildings and structures either for a one-off sale or recurring income generation purposes.
Real Estate builders and developers belong to this division of real estate business.
Real Estate Agency, last but not the least, means dealing in real estate on behalf of others. These deals could either be buying and selling of real estate between two parties as negotiated through a real estate broker of the appointed agency or these can also include rental agreements for residential or commercial properties, again assisted via the real estate broker. Apart from the brokerage activities, an agency also has to dedicate management staff towards keeping a positive balance between its income and expenses.
Setting up a real estate agency is the lowest cost option and needless to say attracts more businessmen than the other two divisions of real estate business.
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