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IREF® - Indian Real Estate Forum > Real Estate Open House > General Real Estate Discussion > Real Estate Career > Want big salaries? Try the realty sector
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Old September 10 2007, 04:09 PM   #1
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Default Want big salaries? Try the realty sector

A player from this sector recently raised India's biggest IPO. The Bombay Stock Exchange has introduced an index for it. Foreign investment of $10 billion is expected to flow into the sector over the next 12-18 months. And it is estimated to clock 30-plus per cent growth in the next few years.

This is India's resurgent real estate sector. Though it continues to be largely fragmented and opaque, the once lackadaisical, stringently red-taped sector is resolutely on its way towards consolidation and transparency. The growth potential of real estate is immense, not only for end users and investors, but also for people looking to make a career in it. Among college students, graduates and working professionals -- especially those with management, engineering and architecture backgrounds -- realty studies are fast becoming a favourite.

"The boom in real estate has motivated me to enroll for a Master's degree in Planning, with a specialisation in Housing," says a student of the School of Planning and Architecture (SPA), Delhi. Employed with leading real estate consultants Jones LangLa Salle Meghraj (JLLM) in Delhi for the past two months, is also pursuing a weekends-only course in real estate management. Enrolments are increasing in institutes offering short-term diploma courses as well as in colleges offering real estate specialisation in their Master's programme. P.S.N. Rao, professor at the SPA, says that on an average 20 of the 75 students from the Masters in Planning program choose to do a thesis on real estate. This figure was negligible when the course was introduced as an elective 10 years ago.

Dedicated institutes have sprung up and management schools have introduced specialised courses on the subject to cater to the increasing demand. Indian School of Business (ISB), Hyderabad, launched a course titled 'Property Finance and Investment' last year. The Pune-based Indian Institute of Real Estate (IIRE), affiliated with the National Association of Realtors (NAR), a leading association of realtors in the US, had 10 students when it was launched in 2001. Today they get more than 3,000 enquiries per month for their online course.

 
Old September 11 2007, 05:05 PM   #2
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Not essentially..!

Hey, it's not just about salary brat.

If you want to jump into real estate just for the sake of getting high salary, it may prove wrong for you in the long run.

Follow your interests, passion, instincts, strengths and then decide about your career!!! Money should be followed by work..
 
Old September 14 2007, 10:07 AM   #3
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Default Its raining jobs in Indian real estate! Check out...

A real estate career can be as rewarding and exciting as you choose to make it!!!

Types of Careers in Real Estate

Careers in Residential Brokerage - Helping people buy and sell homes, is one of the most important and basic services a real estate agent performs. Agents are experts in the process of buying and selling property, financing and government programs. The real estate agent's expertise facilitates the transaction, saving clients time, trouble and money.

Careers in Commercial Brokerage - Commercial brokers specialize in income-producing properties, such as apartments, office buildings, retail stores, warehouses, shopping centers and industrial parks. To understand and explain why the properties are good investments, commercial brokers need to be aware of the growth possibilities of the area where the property is located, current income tax regulations and purchasing arrangements that give the buyer a greater return on investment.

Careers in Property Management - The property manager's primary function is to maintain a property in order to produce the highest possible financial return over the longest period of time. More importantly, the property manager is responsible for protecting the owner's investment. Managed commercial properties are likely to be office buildings and shopping centers. Residential properties might be apartments, condominiums and groups of homes. Property managers usually work for real estate firms.

Careers in Land Development - Land development is one of the most important and challenging specialties in real estate today. Developers turn land into profitable, marketable developments - residential, commercial or industrial. Site selection is the first decision. Planning and layout is handled only after the developer determines the need for a project. Before the actual building can begin, developers must first analyze all costs and arrange the financing. Then, they contract for the physical structures and supervise construction. Finally, developers help promote the finished project.

 
Old September 19 2007, 10:47 AM   #4
pharaoh
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Question project management

i wonder if there are any training institutes for real estate project management that cover all the aspects of construction, legal, marketing and finance...
 
Old October 24 2007, 02:21 PM   #5
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Lightbulb Careers in real estate

REAL estate agents are matchmakers, bringing buyers, sellers and homes together.

A real estate agent is an individual who works for a real estate brokerage firm and represents one of the involved parties interests during the sales process. The term real estate, or "real property," refers to the ownership of land and interests in land.

Most real estate agents are independent salespeople who provide their services on behalf of a real estate broker. The broker pays the agent a portion of the commission earned from the agent's sale of property. Earnings are almost always based strictly on commission.

Good real estate agents understand the local market inside out. They help house- seeking clients find neighborhoods and homes offering the best balance between their lifestyles, concerns and budgets.

Qualifications & skills

Realtors agents also act as intermediaries in price negotiations between buyers and sellers. It requires the ability to search for clients and close deals. A common misperception is that someone interested in homes and architecture can have a prosperous career and success in this line of work. Aspirants' must be able to interact effectively with various types of people, as this is a relationship business. Flexibility is also an essential quality. There are no fixed working hours nor a fixed monthly income.

Licensing is a must for this business (though the concept is not mandatory in India yet). An MBA degree is useful to have, though not essential, as is a degree or a diploma in architecture, development and design.

If you have studied any related concepts like real estate principles and practices and law and property management, it is indeed helpful.

Work

Developers can work as a prime negotiator and a financial whiz. Developers buy land, persuade zoning officials to grant permits and manage the labour that builds a commercial or residential project, all the while overseeing the budget and sales team.

There are a number of choices in area depending on where your interests lie. The residential part tends to attract people focused on building homes and creating individual living environments. . Retail attracts people who are sales-oriented and interested in commerce, the movement of goods and the space in which to do that effectively.

If you're a relationship builder, you can consider becoming an acquisitions expert who generates property leads, negotiates purchase contracts and works with government officials before handing the property over to a project manager. If you're more analytical and have a head for numbers, an asset manager who handles budgets, forecasting, cash flow, accounting, operations, and long and short-term financing, could be just your cup of tea. In general, larger the firm the more specialised the job.

If you're have some capital, you can start your own firm buying distressed property and renovating for sale. If you don't have a college degree, you can sign on with a small developer and work your way up. No formal education is necessary though it is desirable. Gaining practical experience by trying to do a few deals of your own is important. Courses in technology will also help, because you'll need to know how to use spreadsheets, databases, graphical analysis and geographic information systems.

You can also go into real estate business part-time. The most important attribute of a productive real estate career is not so much the amount of time you put into it, but the quality of the time you invest.

Whatever size company you choose, it is important to choose a reputable company and to find a situation that provides a suitable work atmosphere. With experience you can make a shift from selling real estate to managing others selling real estate by becoming a branch manager.

While individual agents are the players who get the glory of hitting the home runs -selling the property, signing the difficult buyer or convincing people to relocate, branch managers are the realty industry's coaches.

Regardless of how you enter the field, real estate development as a career is like a smorgasbord of marketing, finance, and material organization and supply chain management.
 
Old July 2 2008, 09:42 PM   #6
nirajs
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Default Where to apply for a retail (real estate job) ?

Hello

I am into ...

to lease retail spaces and industrial land to our clients. Been a part of the entire process from land selection, legal documents checking, buyer and seller negotiations, rental negotiations, legal agreement negotiations, land survey reports, property handover, registration process and commercials approvals.

Kindly suggest me where can i apply for a job.

Thank You
Niraj Surana
Wasim Akhtar likes this.
 
Old July 7 2008, 01:05 AM   #7
 
 
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Default

Quote:
Originally Posted by vikram View Post
Hey, it's not just about salary brat.

If you want to jump into real estate just for the sake of getting high salary, it may prove wrong for you in the long run.

Follow your interests, passion, instincts, strengths and then decide about your career!!! Money should be followed by work..
Absolutely agree!!!

Saw the same thing in late 90s in Software and the result is a whole lot of high-priced, unemployable "programmers" who create more bugs than features in their software (but thats another story).

Broking is the lowest rung of the ladder - and normally this rung is the first to go in a crash - like you are seeing now

Go with you passion, etc, etc. And if that turns out to do with RE, go in for GENUINE, difficult to get qualifications - NOT the easy ones like this NAR-affiliated stuff that someone in Pune is trotting out. I recall that the NAR is a much-discredited outfit in US which is only a shill for the RE Broking community. Thats not a qualification you can wear with pride, like, say an IIM diploma!

Do what you love and you will go places. Not following the latest fad-turned-hype-turning-disaster ...

And Vikram, they are not brats. Simply that they do not have proper counselling about whats good for them long-term - not their fault!

cheers
 
Old July 7 2008, 01:21 AM   #8
 
 
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Default And the leading economist said ... "we seem to have reached a permanent high plateau"

Quote:
Originally Posted by Rashmi View Post
A player from this sector recently raised India's biggest IPO. The Bombay Stock Exchange has introduced an index for it. Foreign investment of $10 billion is expected to flow into the sector over the next 12-18 months. And it is estimated to clock 30-plus per cent growth in the next few years.

This is India's resurgent real estate sector. Though it continues to be largely fragmented and opaque, the once lackadaisical, stringently red-taped sector is resolutely on its way towards consolidation and transparency. The growth potential of real estate is immense, not only for end users and investors, but also for people looking to make a career in it. Among college students, graduates and working professionals -- especially those with management, engineering and architecture backgrounds -- realty studies are fast becoming a favourite.

"The boom in real estate has motivated me to enroll for a Master's degree in Planning, with a specialisation in Housing," says a student of the School of Planning and Architecture (SPA), Delhi. Employed with leading real estate consultants Jones LangLa Salle Meghraj (JLLM) in Delhi for the past two months, is also pursuing a weekends-only course in real estate management. Enrolments are increasing in institutes offering short-term diploma courses as well as in colleges offering real estate specialisation in their Master's programme. P.S.N. Rao, professor at the SPA, says that on an average 20 of the 75 students from the Masters in Planning program choose to do a thesis on real estate. This figure was negligible when the course was introduced as an elective 10 years ago.

Dedicated institutes have sprung up and management schools have introduced specialised courses on the subject to cater to the increasing demand. Indian School of Business (ISB), Hyderabad, launched a course titled 'Property Finance and Investment' last year. The Pune-based Indian Institute of Real Estate (IIRE), affiliated with the National Association of Realtors (NAR), a leading association of realtors in the US, had 10 students when it was launched in 2001. Today they get more than 3,000 enquiries per month for their online course.
And that quote was from the leading economist of the day - Irving Fisher - just DAYS before the greatest crash in Stock Market history. Shows how wrong we can be while predicting, at major inflexion points of the market - unless we can see over the horizon.

Mere cut-n-paste of all the propaganda by Real Estate shills does not add virtue to our reccomendations. I have any number of calls from RE brokers asking me if I have some other job for them since they see this industry tanking alarmingly with volumes crashing too quickly for them to comprehend. And I'm not even a broker of another kind - job broker!

Touting RE broking (or most things to do with RE) today is a hazardous occupation at best. Storm clouds are building up. That very same Builder you mentioned who raised the biggest IPO is now down OVER 70% in the markets in just a few short months, and this industry is heading towards becoming the most-hated in the Stock Market (that would be the right time to buy in the RE market - as also the right time to figure out if RE is really your calling as a career option).

cheers
 
Old April 17 2009, 07:20 PM   #9
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I don't know how much value a PG Management course or MBA may add to real estate career.

However we always had traditional subjects which provided good career options in Real Estate, only issue was they were not glamorous like Computer Science to our "Quick money hunting, Instant gratifying' young people of india all these years.
  1. An Architect with good practice experience and having B.Arch or M.Arch from a top engineering college always has good career options in Real Estate
  2. A Civil engineer graduated from IITs, BITS Pilani, top RECs and having Contruction Project management experience with top companies like L&T, GMR always has good career options in Real Estate
Get a relevant Technical Degree from top notch Engineering Colleges and not short cuts like PG Management course in some B grade C grade businees school.
 
Old April 18 2009, 09:07 AM   #10
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Dear friend,

You said it right. Such persons will see only uptrend in their career as also in their pay packets. One day, some may start their own consultancy or construction company itself and propser. In the process, give a fair and good deal/service to the clients.

ks2071746
 
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