A career in the real estate industry is exciting and lucrative. Before deciding a career path in the real estate company assess the personal skills and interests as well as the required educational qualifications. Make a thorough research to make the career decisions by choosing a best company to work with.
Know the company types
- Among the various types of real estate offices the most common one is the Full service firm having its own inventory listings and provides all the tools to agents/brokers/realtors to face the competitive market.
- The other type of full service agency offers its agents/brokers or realtors a high percentage commission but charges a desk fee to work in their firm.
- There are specialized companies that perform operations associated with selection, selling or buying of residential homes, commercial places, industrial and land sites with single investors or investment groups, and property management.
- All these types of companies have their own established positions, so selection of a suitable specialized field is important for career enhancement.
Value the firm
Every real estate firm is unique and it’s hard to categorize them based on the market valuation for the company. But the best tool to analyse a good professional real estate firm is the stock market positioning. The firms that trade through stock markets are termed as Real Estate Investment Trusts or REITs.
- Use the price to earnings (PE) ratio a firm has earned in the stock market to determine its value.
- Compare the company’s PE with the average PE ratio quoted for other real estate companies.
- If the PE ratio calculated is above the industry average then the particular real estate firm is overvalued indicating its performance levels based on the earnings per share which is crucial for the company’s growth. While an undervalue PE ratio indicates the company’s poor prospects.
- The company with larger PE ratio can be rated the best one in the field.
Compare the careers
Being one of the expansive fields, there are varied professional positions available including a real estate agent, broker, appraisers and property managers.
Have a detailed comparative research study about the significance, characteristics, functional mode, salary, special training and state licensing required, features available and benefits, before proceeding with a particular job title.
After considering the pros and cons of the industry and career, using the knowledge about the current industry trends establish relationships with professionals in the similar career for a successful introductory venture.