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Real Estate Broker
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About
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">A real estate broker is a professional who helps individuals or businesses in buying, selling or renting properties. Brokers act as intermediaries between buyers as well as sellers. Additionally, they are licensed by the state in which they operate. They have a deep understanding of the local real estate market including current market conditions, property values, zoning laws as well as financing options. Furthermore, they use this knowledge to help clients make informed decisions about buying or selling real estate.</span></span></span></span></p> <p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Brokers can help sellers in the marketing of their properties by creating listings, arranging property viewings and negotiating deals with potential buyers. They can also aid buyers into finding properties that meet their needs as well as budget, arrange property viewings and negotiate deals with sellers. Moreover, they can also earn a commission for their services, typically a percentage of the sale price of the property. The commission is usually a split between the buyer's broker and the seller's broker.</span></span></span></span></p>
Eligibility
<p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff"><strong><u>For Bachelor’s</u></strong></span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">The aspirants must pass their 10+2 board examinations by scoring at least 55% marks from any authorised education board. </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Moreover, the seekers can enrol in a Bachelor’s degree such as BBA in Real Estate and Urban Infrastructure or Bachelor of Business Administration from a recognised university or college. </span></span></span></span></li> </ul> <p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff"> </span></span></span></span><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff"><strong><u>For Masters</u></strong></span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">The candidates should pursue MBA in Real Estate Management in order to attain the knowledge as well as management techniques in order to handle the real estate conditions from buyer’s and seller’s end. </span></span></span></span></li> </ul>
Top Colleges/Universities
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">In India, real estate education is typically offered as a part of broader business and management degree programs with a focus on real estate management, property valuation along with real estate finance. Here are some of the top universities as well as colleges in India that offer programs related to real estate:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Indian Institute of Technology (IIT) Delhi </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">RICS School of Built Environment (RICS SBE), Amity University </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">National Institute of Construction Management and Research (NICMAR) </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Symbiosis Institute of Business Management (SIBM), Pune</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Institute of Management Technology (IMT), Ghaziabad </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">International Real Estate Business School (IREBS), Hyderabad </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">K J Somaiya Institute of Management Studies and Research, Mumbai </span></span></span></span></li> </ul> <p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Here are some top universities and colleges in other countries that offer programs related to real estate:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">University of Pennsylvania (USA) </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Massachusetts Institute of Technology (MIT) (USA)</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">University of Cambridge (UK) </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">London School of Economics and Political Science (LSE) (UK) </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">University of Melbourne (Australia) </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">National University of Singapore (Singapore) </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Rotterdam School of Management, Erasmus University (Netherlands) </span></span></span></span></li> </ul>
Job Roles
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Real estate brokers perform a variety of job roles including:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Real Estate Consultant</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Real Estate Sales Manager</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Real Estate Agent</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Loan Underwriter</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Commercial Broker</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Mortgage Specialist </span></span></span></span></li> </ul>
Top Recruiters
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Real estate brokers can work for a variety of employers including real estate brokerages, property management companies as well as real estate development firms. Here are some of the top recruiters of real estate brokers:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">CBRE Group, Inc.</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Jones Lang LaSalle (JLL)</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Cushman & Wakefield</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Colliers International</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Knight Frank</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Savills</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Sotheby's International Realty</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Century 21 Real Estate</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Coldwell Banker Real Estate</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Re/Max Real Estate</span></span></span></span></li> </ul>
Salary
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">The salary of real estate brokers can vary widely depending on a number of factors including their level of experience, location, type of employer, the size and complexity of their real estate transactions.</span></span></span></span></p> <p> </p> <div> <table cellspacing="0" style="border-collapse:collapse; border:none; width:100%"> <tbody> <tr> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:203px"> <p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff"><strong>Level of Salary</strong></span></span></span></span></p> </td> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:389px"> <p style="text-align:center"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff"><strong>Salary Package per Year</strong></span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:203px"> <p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Starting Salary</span></span></span></span></p> </td> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:389px"> <p style="text-align:center"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Approx Rs 3,00,000</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:203px"> <p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Mid Level Salary</span></span></span></span></p> </td> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:389px"> <p style="text-align:center"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Approx Rs 5,00,000 </span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:203px"> <p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Senior Level Salary</span></span></span></span></p> </td> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:389px"> <p style="text-align:center"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Approx Rs 9,00,000 </span></span></span></span></p> </td> </tr> </tbody> </table> </div>
Skills
<ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Knowledge of the real estate market</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Marketing and advertising</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Negotiation skills</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Communication skills</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Legal and financial knowledge</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Organisation and time management</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Customer service</span></span></span></span></li> </ul>
Scope
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">The career scope for real estate brokers can be quite promising as there is a consistent demand for real estate services in many parts of the world. Here are some potential career paths for real estate brokers:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Brokerage</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Property management</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Real estate development</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Investment</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Commercial real estate</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Consulting</span></span></span></span></li> </ul> <p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Overall, the career scope for real estate brokers can be quite diverse offering numerous opportunities for growth and specialisation. However, like many careeRs success in real estate </span></span></span></span><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">brokerage often requires a combination of hard work, experience as well as skill development.</span></span></span></span></p>
Benefits
<ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Expertise</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Access to information</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Marketing and advertising</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Negotiation skills</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Time-saving</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Professional network</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Legal and financial knowledge</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Access to off-market properties</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Support and guidance</span></span></span></span></li> </ul>
Drawbacks
<ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Cost</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Conflicts of interest</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Limited control</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Limited availability</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Quality of service</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Limited knowledge</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Limited access to properties</span></span></span></span></li> </ul>
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