The real estate industry offers strong job prospects and lucrative salary packages. Getting a degree in real estate helps students develop the necessary skills and expertise in areas like valuation, mortgage lending, brokerage and sales, equity investment, etc. These programs help them in advancing their understanding as well. So if you are wondering what you can do with a real estate degree, you ought to continue reading.
What Is Real Estate?
Read estate refers to land and the property on it. It is a tangible asset that gives the right to improvement to its owner; some owners rent out their places as well. Real estate has three different categories- commercial, industrial, and residential. A real estate expert is a licensed professional who represents the seller or buyer.
What Can You Do with A Real Estate Degree?
With a degree in real estate, students can choose any profession that falls in this field including real estate broker, leasing manager, and an escrow officer. Some of these professionals prefer to work with an already established real estate firm, while others may want to build a set up of their own. Some obtain licensure and prefer to work with government agencies. Regardless of the profession, all graduates are required to have a few necessary skills for this profession that include math skills, analytical skills, organizational skills, and customer service skills.
These are some of the career options available for real estate degree holders.
Real Estate Brokers and Sales Agents
Real estate brokers facilitate their clients in buying, selling, and renting out properties. Since brokers are licensed, sales agents are required to work along with them. These professionals compare properties to figure out a competitive market price.
| Annual Median Salary, 2019 | $59,720 (Real Estate Brokers) | |
| Job Outlook, 2018-2028 | 7% | |
| Annual Mean Salary, 2019 | $81,450 (Real estate brokers) | |
| State with the Highest Employment Level, 2019 | California | 6,320 (Real Estate Brokers) |
| State with the Highest Salary, 2019 | New Mexico | $112,860 (Real Estate Brokers) |
Source: US Bureau of Labor Statistics
Appraisers and Assessors of Real Estate
Appraisers and assessors determine an estimated value of buildings and land before they are taxed, sold, mortgaged, developed, or insured. They usually work in a familiar locality which helps them determine the correct value of the property as they know all the factors that may affect it.
| Annual Median Salary, 2019 | $57,010 | |
| Job Outlook, 2018-2028 | 7% | |
| Annual Mean Salary, 2019 | $63,610 | |
| State with the Highest Employment Level, 2019 | California | 4,760 |
| State with the Highest Salary, 2019 | District of Columbia | $97,200 |
Source: US Bureau of Labor Statistics
Personal Financial Advisors
Personal financial advisors advise on taxes, investment, estate, mortgages, insurance, etc. They assess the need of individuals and help them make decisions related to investments.
| Annual Median Salary, 2019 | $87,850 | |
| Job Outlook, 2018-2028 | 7% | |
| Annual Mean Salary, 2019 | $119,290 | |
| State with the Highest Employment Level, 2019 | New York | 26,150 |
| State with the Highest Salary, 2019 | New York | $166,790 |
Source: US Bureau of Labor Statistics
What to Expect from a Real Estate Degree?
A real state degree focuses on developing relevant skills and expertise in students who want to pursue this field. It includes general courses, like math, communication, and science, as well as major-related courses including principles of real estate, real estate practice, market analysis, acquisition procedures, taxation, etc.
How to Choose a Real Estate Degree?
These are some of the things you should consider before choosing a program:
- Choose an accredited degree program
- Check if part-time classes are being offered
- Check if scholarships are offered
- Consider the necessary time and cost required to complete the degree
- Check if it is an online or campus-based program
Real Estate Degree Admission Requirements
To obtain a bachelor’s degree in real state, students need to have a minimum GPA. Letter of recommendation, SAT scores, and transcripts are also required by some of the schools.