The Real Estate industry is the foundation of the Indian economy. In a nation where millions are left without a house and millions more are seeking one that will meet their needs and budget The real estate business is an area that has drawn attention from people at all levels. The term “real estate” is a reference to ownership of buildings or land and the people who handle these transactions are called real estate brokers or agents. They assist individuals to purchase lease, sell or buy properties, homes and buildings. Real estate property comes in two kinds: Commercial Property and Residential Property. Residential Real Estate refers to condominiums, bungalows and houses duplex houses, and so on. in which people reside, whereas Commercial Real Estate includes office structures, office complexes industrial properties, and other. Residential real estate agents are specialized in working with families and individuals. families, whereas commercial agents handle offices and other structures.
Real property in India has seen a tremendous increase in the past couple of years. The second most lucrative employment-generating sector in India following agriculture and real estate, it has opened doors to direct foreign investment into India and a better career outlook for agents and professionals.
Property also known as Real Estate Management, often also referred to as Area Management, in some instances, it also involves rent collection, the outgoings of payment insurance, managing maintenance staff’s payments and negotiating with prospective and existing tenants. Management of Real Estate or Property, who are responsible for the management of various residential and commercial properties assist in coordinating the financial and administrative aspects of real estate investment. They concentrate on maximizing the value of real estate for both companies and investors. Real estate agents ensure their clients have the data they require to determine price for selling, make offers and then negotiate a favorable bargain. They offer a range of services from displaying properties, studying local sales statistics, reviewing contracts prior to negotiating offers, closing deals. to taking rent and security deposits and the management of maintenance of the infrastructure in all forms. The majority of them work in a particular area which they know and comprehend thoroughly. They assist house-seeking clients locate homes and neighborhoods that are the most suitable for their needs, lifestyles and budgets.
The majority of Real estate brokers are freelance salespeople who are employed by the real estate brokerage company or provide their services for the benefit of an authorized real estate agent. They also serve as intermediaries when it comes to negotiations on price between sellers and buyers. There are many who do not have set hours of work, nor an income that is fixed for a month. They earn by commission, which is an amount of the sale cost of every transaction, so the earnings potential is endless.
ELIGIBILITY
Although a degree in this field isn’t required, the majority of real estate companies and multinational organisations prefer candidates who have completed a program on real estate administration. There are MBA or diploma, post graduate diploma, and certificates that are offered for Real Estate Management. The requirement for obtaining to be eligible for an MBA for Real Estate Management is graduation. Other courses such as diploma and certificates can be completed after the completion of 10+2. Some of these courses are also available in a distance learning manner (by by correspondence). A course in this area includes subjects like economics, risk management and real estate law. analysis and valuation of properties as well as market research. Construction Economics ,Infrastructure Finance, Development & Management, Real Estate Laws, Entrepreneurship in Real Estate Management, Real Estate Marketing.
Skills Required:
Real estate agents also require expertise in fields like risk management property law and estates, as well as appraisal and analysis of properties. Negotiation skills are necessary for success in this industry and are best taught by veteran veterans. The career path in the real estate or infrastructure requires the necessary skills necessary to start an independently-owned business. In this regard you will require many contacts and connections and establish strong connections to gain the business. Purchase of plots, lands flats, homes, and villas, and then selling them requires excellent selling skills, as well. The main set of abilities that are needed in this area is the desire and determination to deal with India’s highly demanding wealthy. Other abilities could be similar to the skills one would require if they was employed by an investment firm. It is also essential to stay up-to-date on the market and keep up-to-date with the current market trends aswell in future market forecasts. It is also important to possess strong communications and marketing abilities. In order to work on the technical aspect and to be able to secure an entry-level position in the property or infrastructure sector, you might require an engineering bachelor’s or master’s in engineering, construction and civil at any engineering institution across the nation. In addition to technical positions there are also opportunities for a MBA of sales and marketing or international relations, or even have an MBA in business communication to start an engineering company.
Skills that are useful in this profession:
- 1. The technical aspects of building and construction
- 2. The latest news about the market prices per square foot of land/homes/plots/land in various areas
- 3. Status of shares and stocks of different companies
- 4. A variety of selling, marketing and pricing strategies that can be used to draw customers
- 5. The largest network of shareholders and buyers
JOB Roles: The real estate sector offers many possibilities for those who have graduated across the spectrum of building and in infrastructure administration. Contrary to what many believe that this field is just about land and buildings. In addition to investment banks and managing, to research valuations, project administration Quantity surveying corporate real estate, facilities management marketing and sales, the sector offers a variety of jobs. This sector offers one of the broadest options for careers one could imagine. Construction; real estate; infrastructure as well as asset management are just a few of the most important elements of the industry.Those with a little capital can enter the field via the purchase of land or property and later expand it to sell. It is also possible to work with lenders and developers to buy land, manage the construction for a residential or commercial project as well as obtaining the necessary permits and convince people to invest their hard-earned money for a life-long investment. Also, it involves buying old homes, mortgaged or litigated lands, houses or plots and legally converting them into saleable properties. Real estate development as a profession is therefore many disciplines, including finance, marketing, the organization of materials and supply chain management.No surprise then that the industry is seeking skilled professionals.
These are just a few of the job opportunities that are available within the property industry:
Realtors in residential real estate:- A broker that deals in residential properties could represent the buyer or seller. Brokers of commercial real estate A broker who sells office space, hotels as well as similar real estate property for commercial use. They may focus on office space for retail mall space and industrial spaces, as well as hospitality spaces.
Real estate appraiser:- Such individuals determine the fair value of a house that is for sale. They determine the worth of property for the benefit of an appraisal company as well as banks or large private investors.
Property Manager:- The person is part of an experienced property management company and oversees the property’s investment owners. They handle customers and also manage lease and rent agreements.
Facilities Manager:- The concept of Facilities Management is just been emerging as the most efficient way to maximize profits and reducing overheats in big real estate projects like offices, residential townsites structures and malls.
Real Investment consultant for real estate:- Such someone has an extensive understanding of the market for real estate and provides property investors with advice on the most profitable investment options. His primary goal is finding properties that can rise in value.
Experts in project development Experts in project development:- Such experts are at the heart of the real estate market and aid in creating marketable properties. They assist developers in every aspect of the project beginning with the blueprint stage to the final deployment.
Opportunity and scope:- Infrastructure as well as Real Estate are the best job for you if are a fan of making a huge profit, the desire to work continuously and the capacity to manage and oversee an entire team consisting of consultants, builders laborers, and even site administrators.
Today in India, several popular websites such as www.Indiaproperty.com, www.99acres.com and www.Indiahousing.com allow people to buy and sell properties across the country. These websites serve as intermediaries between sellers and buyers and may assist new entrants into the industry. Newspaper ads are an excellent source for businesses that are developing.
Real estate managers are employed by governments that oversee public properties and real estate development firms and corporations with large real estate assets. Real estate Managers can also working with departments for real estate in banks, NBFCs, and trust companies. They also work for companies that manage properties and realtors. Homeowners who own residential properties apartment buildings, office buildings as well as industrial or retail properties, as and home owner associations employ a property or real estate manager to handle the day-today management of their real investment properties. After some time the real estate agent is able to establish consulting companies or a real estate dealership.