What is the Job all about?
Real estate management encompasses a wide range of functions, including urban design, planning, real estate laws and regulations, project appraisals, investment, financial planning, and facilities management.
Is there a future in this field?
Real estate is the second-largest employer in India after agriculture, with projected growth of 30% over the next decade. The industry is expected to require 4 million new professionals annually for the next seven years, highlighting the immense potential for specialization in this sector. Currently, India’s construction industry ranks as the 9th largest market globally and is expected to climb to the 3rd largest by 2025.
If you choose to work as a real estate agent in Goa, it’s essential to familiarize yourself with the local laws governing the buying and selling of properties, including villas, flats, and land. Building your presence through social media and advertising is crucial to establish yourself as a real estate agent.
You’ll need to maintain a comprehensive list of properties available for rent or sale across all areas of Goa, or you may choose to focus specifically on either South or North Goa. As a real estate agent, your responsibilities will include guiding prospective clients through property viewings, facilitating meetings with property owners, and ensuring that all necessary paperwork is completed and signed in the presence of the relevant authorities once an agreement is reached.
Where to begin:
In Goa:
To become an independent real estate agent, you need to have completed 10+2 with at least 60% in Physics, Chemistry, and Mathematics (PCM) or hold any graduate degree.
Outside Goa:
Consider pursuing a Bachelor of Business Administration (BBA) followed by a Master of Business Administration (MBA) specializing in Real Estate and Urban Infrastructure at institutions such as:
• NICMAR (National Institute of Construction Management & Research), Pune
• RICS School of Built Environment, Amity University, Noida
• Ansal University, Gurgaon
• Teri University, Delhi
• CEPT University, Ahmedabad
These programs will provide you with the knowledge and skills necessary for a successful career in the real estate sector.
Job potential:
Some of the leading employers in the real estate sector include DLF Limited, Unitech, Tata Housing, Ansal API, Raheja Universal, Larsen & Toubro Ltd, Punj Lloyd Group, Shapoorji Pallonji & Co, and Jaiprakash Associates Ltd. Additionally, banks and real estate investment companies are potential employers, along with major real estate websites like Magic Bricks and 99 Acres.
Salaries:
Entry-level salaries in real estate tend to be low; however, a significant portion of your income will come from commissions. The more clients you secure who sign agreements to buy, sell, or rent properties, the higher your earnings will be.
Commission Structure for Independent Agents:
As an independent real estate agent, you typically charge 2% of the property’s sale price from both the buyer and the seller when a property is sold. For rental agreements, both parties are required to pay you a fee equivalent to one month’s rent.
Don’t settle for just a degree or diploma — enhance your CV by completing online learning programs with certification in areas relevant to your chosen career. This will significantly improve your employment prospects compared to holding only a basic qualification. Additionally, consider boosting your confidence by enrolling in public speaking courses, such as those offered by Toastmasters International.
For government job opportunities, please check: www.employment-newspaper.com
page updated: October 2024