Transcript Real Estate Industry Profile

Real Estate
Industry Profile
By, Ms. Bentivegna
Centereach High School
Real Estate Industry Overview
The industry involves the:
• Buying and Selling,
• Renting and Leasing,
• Management of
Commercial, Residential,
Agricultural, and other
kinds of property
• Including all the
functions that support
such activity, such as
appraising and financing.
Job Outlook
The real estate industry has
been doing quite well, with
many leading firms chalking
up double-digit top-line
growth in 2003.
Residential side of real
estate is doing the best.
Who does well?
You should have aspects of the following:
• Good people skills - build relationships
• Project management skills
• Entrepreneurial skills
• Leadership skills
• Should be ambitious and work
independently
• Know zoning laws and regulations
Career Tracks
Agents and brokers bring buyers and sellers
together, in the sale of properties.
1. Residential (houses or condos)
2. Commercial (offices or retail space)
Property managers maintain investment property
for owners, overseeing a property's everyday
operations, whether it's a commercial,
industrial, or residential building.
Career Tracks
Developers and asset managers invest in and
improve land.
• Real estate developers specialize in residential
or commercial property development, from
buying land to constructing the buildings.
• In-house real estate specialists are employed by
franchise and chain businesses, such as fastfood restaurants, grocery stores, and retail
chains, to select and develop new properties.
How much can I make??
Performance based compensation
You sell = You succeed
$$
Commissions are typically 6 percent, split
between the buying and selling agent
Other Careers in Real Estate
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Real Estate Lease Administrator
50-60K
Reconcile disputed accounts and work with legal department on any
disputes, Analyze all lease related billings from Landlords amendment,
exhibit or legal document associated with the premises
Commercial Real Estate Appraisers: 50K
Strong analytical, writing and oral communication skills are required.
Excellent PC skills required, A Bachelor's degree in accounting, finance or
business preferred.
Senior Real Estate Investment Accountants To 85K
Real estate and investment accounting, asset management, foreign
currencies, NAV, IRR calculations, analysis and special projects.
Lease Administrator/Accountant To 65K
Commercial and residential lease administration experience, billing,
escalations, general accounting and special projects.
Rent Collections Specialist To 55K
Collections and dispute resolutions collection and billing in commercial or
estate billing a must.
Love/Hate tips
• You have to be very driven and selfmotivated
• Be very efficient with your time
• Independent worker – set up your own
hours.
• Hate – no stable salary: usually based on
commission depending on the position.
Courses you should take in HS
There are many aspects to real estate.
Having a well rounded education in the
liberal arts and business will be beneficial
to this career.
You can choose to go to a 2 or 4 year liberal
arts college or many business offer free
seminar training. The choice is yours
depending on your interests.
Local employers
• For Sale By Owner
4949 Nesconset Hwy, Port Jefferson Station,
(631) 476-4745
• Kella, B - Confidential Business Brokers
1031 Main St, Port Jefferson,
(631) 473-4463
• National Homesellers Inc
65 Centereach Mall, Centereach,
(631) 981-9500
• Zysman, Warren - Centereach Mgt Group
47 S Coleman Rd, Centereach,
(631) 736-0842
Two year college
Suffolk Community College
Home Page:
http://www3.sunysuffolk.edu
Courses offered:
http://www3.sunysuffolk.edu
/Courses/msol.asp
Four year college
SUNY - Stony Brook University
• Home Page: http://www.sunysb.edu
• Majors and Minors:
http://www.stonybrook.edu/ugadmissions/p
rograms.htm
How do I get hired?
• Call all the big brokerage firms and ask to
speak to the manager.
• Be extremely enthusiastic and interested in the
profession and see where it leads.
• Ask about any mentor programs or internships
where you can work under a broker.
• Look in the newspaper and online for local
listings on training seminars
continued..
Current list of companies
hiring in New York
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Century 21
Coldwell Banker
General Electric
Foxtons
MTA
Better Living Properties
Domain Properties
Jones Lang LaSalle
Gursky & Partners, LLP
Reis, Inc.
TIAA-CREF
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NYU Medical Center
Ajilon Office
NBTY Inc.
Washington Mutual
Coldwell Banker
Commercial
Ameriquest Mortgage
Realty Data Corp.
Citi Cards
GreenPoint Financial
US Remodelers, Inc.