Whether you’re an undergraduate student or an adult looking for a career change, if the exciting and potentially lucrative world of real estate is what you’re interested in, there are several paths you can choose from. Real estate is one of the few industries that is flexible enough to match a variety of skillsets, and therefore degrees, which is one of the reasons it’s such a popular industry.
There are two types of skills: hard and soft. Hard skills are centered around specific technical abilities that people possess such as mathematics, technology, and analytics. Soft skills are more focused on behavior, the traits that enable people to interact well with others, such as communication, problem-solving, and flexibility. Both of these types of skills will help you succeed in the world of real estate.
A good business acumen is very important for real estate. Whether you’re representing a buyer or seller, it’s important to understand the basic concepts of profit and loss as well as how a business contract is written. If you’re starting your own real estate firm, you’ll need to learn how to manage costs and how to handle taxes for yourself and your employees, as well as managing benefits. Networking is one of the most important business tools, so be sure make an effort to meet other businesspeople throughout your studies, since they might be a good contact later on.
If the investment side of real estate is what interest you, a finance degree is especially important. Not only do you need to learn how to finance any property transaction, but you’ll also need to estimate profit and loss, both in the short- and long-term. There are different types of mortgages to become familiar with as well, such as fixed rate, adjustable rate, FHA loans, and USDA loans, to name just a few.
Communication is arguably the single most important skill to have in real estate. Throughout every step of the process, you will find yourself dealing with a wide spectrum of personalities, and proper communication will be the key to making transactions as positive as possible for all parties involved. Being well-versed in social media tools is another great way to communicate with potential clients or investors.
Real Estate Degree
This wasn’t always the case, but many colleges are now offering real estate degrees in their curriculums. Bachelor degrees are available, but most real estate degrees are for secondary, graduate levels.