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Real Estate Career Specialties

 

It’s More Than Selling Homes
The real estate industry has evolved into a highly specialized discipline and integrates other specialties such as marketing, geography, economics, finance, sociology, political science, art and law. You can decide to help people buy and sell property, relocate, sell or develop land. In addition, real estate professionals are typically involved members of their communities helping to promote the overall well being of the community.

 

Broker vs. Salesperson
As a real estate salesperson you are affiliated with a real estate broker. With more more courses and upon passing an additional exam you can become a real estate broker. As a broker you can become the principle member of a company that engages in property sales and have the opportunity to employ other salespeople or become affiliated with another broker. Brokers or salespersons may make sales presentations, identify suitable properties, conduct open house tours, identify sources of financing and coordinate the sales transaction. However, salespersons and brokers affiliated with employing brokers may do so only in the name of the employing broker.

With a career in real estate, your opportunities are endless. Choose any specialty that suits your style:  

  • Residential Brokerage
    This part of the industry helps people buy and sell residential property. Agents try to sell property within a reasonable time period and at a fair price. They search for property desired by a client, also at a fair price. Buyers and sellers use agents because they are experts in the process of buying and selling property, including financing and negotiating, and they save the clients time and money by facilitating the transaction. They also have access to a wider selection of properties and can expose a home to more buyers.
     

  • Commercial Brokerage
    Individuals who work in commercial real estate specialize in income-producing properties such as apartments and office building, retail stores, shopping centers and industrial parks. Commercial brokers can assist you in determining if a property is a good investment or in the leasing and managing of commercial properties.
     

  • Industrial Brokerage
    Individuals who specialize in industrial real estate engage in developing, selling or leasing property that is used for industry or manufacturing. Brokers consider variables such as transportation, proximity to raw materials, labor availability, laws and the community, and may even develop entire industrial parks.
     

  • Farm and Land Brokerage
    Land brokers not only deal with land for farming, as communities continue to grow, they also deal with rural land for residential, commercial, and industrial expansion. Land brokers establish income potential for properties and determine a farm's capacity to produce based on their knowledge of agriculture and the market.
     

  • Appraiser
    Appraisers provide expert opinions as to the value of properties. Real estate is appraised to determine many types of values, be it assessed value for tax purposes, insured value, book value for accounting purposes, present value for potential investors or rental value for income projections. They evaluate all factors that affect the potential use of the property at present and in the future.
     

  • Land Developer
    Land developers attempt to put land to its most profitable use through the construction of improvements. They organize and supervise the project from the acquisition of land all the way through construction and final sale, including site selection, planning and layout, and financing.
     

  • Urban Planner
    Urban planners work with local governments and other civic groups to develop productive and convenient ways to use land and water resources for urban renewal projects. They influence many aspects of community life as they try to accommodate the city's future growth.
     

  • Counselor
    Real estate counselors give advice on every phase of the real estate business including income opportunities and productive uses of different kinds of properties.
     

  • Professional Real Estate Assistant
    Many real estate brokers and salespersons choose to hire a personal assistant to help them become more organized and efficient. Real estate assistants provide support including client follow-ups, prepare listing presentations, prospecting, coordinate schedules, marketing, perform clerical duties and more. Assistants can be licensed or unlicensed. Formal coursework is available that leads to a professional designation.
     

  • International Real Estate
    International transactions are becoming increasingly common to all kinds of business. Each of these real estate specialties can be pursued in a global arena. Real estate professionals can be a resource to consumers through assisting foreign investors or helping local buyers invests abroad.

     

 

Back to Career Home

Education
· Becoming a REALTOR
· Real Estate Scholarships

Resources
· Illinois REALTOR Magazine
· National Association of REALTORS Career Center
· Ill. Dept. of Financial and Professional Regulation

How About A Career in Real Estate? Download the IAR Career Brochure (pdf)

 

   
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