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Degrees and Schools
Many colleges, universities and community colleges provide real estate courses. Some schools provide associate and bachelor's real estate degree programs however they mostly provide certificate programs. There are also real estate schools that provide a variety of courses.
Many local real estate associations which are members of the National Association of Realtors sponsor courses which review the fundamental and legal aspects of the field.
Classes
Students typically study the following subjects:
- Real estate
- Business administration
- Real estate finance
- Economics
- Real estate principles
- Real estate appraisal
- Legal aspects of real estate
- Accounting
- Marketing
Online Classes and Programs
Real estate courses and associate and bachelor's real estate degree programs are available online. It's important for students to take an online degree program which has been accredited by an agency approved by the United States Department of Education or the Council for Higher Education.
Employment Requirements
Real estate brokers must be high school graduates. Many real estate brokers have some college training and some of them have a college degree.
Every state requires real estate brokers to be licensed. They must pass a written examination. To obtain a broker's license an individual needs to have between 60 to 90 hours of formal training and a specific amount of experience selling real estate, typically one to three years. Some states wave the experience requirements for a broker's license for applicants who have earned a bachelor's degree in real estate.
How to Evaluate Schools and Programs
The answers to the following questions can help students select the appropriate school:
- Training - Does the program include an internship? Do students have a variety of internship choices?
- School's Reputation - Does the school have a good reputation?
- Classes - Does the program provide small class sizes?
- Curriculum - What type of electives are offered? Can students select an area of specialization?
- Financial Aid - What types of financial aid are available? Is the school eligible to provide federal financial aid?
- Accreditation - Is the school accredited by an agency which has been approved by the the United States Department of Education or the Council for Higher Education?
Real Estate Brokers Job Description
Real estate brokers manage their own real estate company. Many brokers have franchise agreements with national or regional real estate organizations. Just like real estate agents, real estate brokers help clients buy and sell property. Real estate brokers also receive a percentage of the commission their real estate agents earn from buying or selling homes for clients. Real estate brokers also manage or rent properties for a fee.
Real estate brokers and real estate agents perform the same type of work. However, real estate agents must work with a real estate broker. Most brokers are involved with residential property, however, some brokers are involved with industrial, commercial, agricultural and other types of real estate.
Shown below are some of their responsibilities:
- Arrange for title searches to verify ownership
- Arrange for meetings between buyers and sellers
- Show residential properties to prospective buyers
- Help arrange financing from a lender for a prospective buyer
- Obtain listings - agreements by property owners to place properties for sale with the company
- Determine a competitive market price for properties
- Ensure all terms of the contract are met before the closing date
- Act as an intermediary in negotiations between buyers and sellers regarding property prices
Resources
- National Association of Realtors
- National Association of Real Estate Brokers
- National Association of Independent Real Estate Brokers
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