More Information About Real Estate Management

What should I know when considering a degree in Real Estate Management ?

Real estate management is comprised of several different sectors. These include managing commercial real estate, controlling leased and rental properties, and constructing developmental projects. Real estate management can help those already in the real estate market, whether a broker, an agent or a real estate assistant, break into a managerial position. This can include contract managers, customer relations managers and project managers, to name a few. The real estate management degree is the perfect stepping stone to anyone thinking about a career in the field of real estate.

Where a Real Estate Management Degree Can Take You

There are several real estate management colleges and online courses that are dedicated to providing you with the knowledge and experience to thrive in the real estate industry. If you are looking to become a real estate agent; whether commercial, industrial or residential; you are required to pass an agent test. Furthering your studies online, either with a Bachelor of Science in Real Estate Studies, a Bachelor in Business Management or a Bachelor in Accounting will allow you to divulge into property management. Obtaining a Masters in Business, Masters in Real Estate Studies or any other MBA will serve to enhance your career opportunities and increase your salary.

According to the Bureau of Labor Statistics, those with a bachelor's degree make over $250 per week more than someone with just an associate degree or certificate. Furthermore, those with a MBA make over $400 per week more than someone with a certificate. This adds up to over $13,000 to $20,800 more per year for those with a bachelors or MBA. By obtaining your real estate management education online, you can continue working and study at the same time, allowing you to increase your wages and job fulfillment at your own pace.

Earning Potential

As mentioned above, careers in real estate management can vary depending on the field you are in and the level of education you have obtained. Those in the property management sector of real estate, including property, real estate and community association management, averaged a wage of $53,530 in 2007, as reported by the Bureau of Labor Statistics. This has dramatically increased since 2006 where the average was $43,730. Those managing land subdivisions averaged $86,000 in 2007; those in government property management made a mean of $60,000 and those related to the residential real estate sector made an average of $50,340 in 2007. The overall average for property real estate managers is expected to continue to rise, especially for those with additional education and experience.

Career Opportunities

No matter which degree you choose to complete, whether it is the real estate management degree or an MBA, the skills you obtain are guaranteed to enhance your career. Some of the skills acquired when attending a real estate management college include property development, ownership and potential, financing and public administration, organizational, communication and leadership skills, data analysis and fair-market value assessment and enhanced reading, negotiation, speaking and writing competence.

All of these skills are necessary in the field of real estate. For those who are looking into managerial positions in the real estate agent business, there are several different options for employment. Some realtors are self-employed; others work for large real estate companies.

As explained by the Bureau of Labor Statistics, property, real estate, and community association managers maintain and increase the value of real estate investments by handling the logistics of running a property. Property managers must have a firm understanding of property values, taxes, population growth, zoning, traffic volumes and transportation patterns. They must oversee the performance of commercial and residential properties to ensure their real estate investments achieve the highest possible revenue. All of these skills are covered at the various real estate management colleges.

The Future of Real Estate Management

Because the population is constantly increasing, the demand for housing units is also on the rise. In fact, the US Census Bureau reports that there were over 75.5 million owner-occupied housing units and over 36 million rental-occupied housing units in 2007. These numbers have increased by over 1.2 million within just two years!

In a press release on October 31, 2008, the National Association of Realtors states that two-thirds of Americans believe that now is a good time to buy a home. Even with the poor state of the economy, home-lenders and buyers continue to remain optimistic about the real estate market.

The Bureau of Labor Statistics reports that career opportunities in real estate property management are expected to grow 15 per cent within the next ten years. This figure suggests that there will be over 50,000 extra jobs created related to the managerial real estate sector not including the various opening positions due to retirement, career transfers, etc.

For current workers in the real estate sector, or those thinking about obtaining a real estate management degree, these statistics prove that now is the perfect time to further your education and obtain a real estate management degree.

Article Resources

U.S. Bureau of Labor Statistics
http://www.bls.gov/oes/current/oes119141.htm

Education Pays: Bureau of Labor Statistics
http://www.bls.gov/emp/emptab7.htm

National Association of Realtors
http://www.realtor.org/press_room/news_releases/2008/americans_want_govt_involved_in_lending

US Census Bureau
http://factfinder.census.gov/

What are the leading schools offering programs in Real Estate Management ?

• Stevens-Henager Online Stevens-Henager College Online offers highly flexible programs and degrees which can be easily worked into busy professional and personal lives. Students are able to complete a master's degree in as little as 15 months in subjects including Healthcare Administration and Nursing Administration. ( More Info )
• Kaplan University - Legal Programs Kaplan University offers online Bachelors, Associates, Masters and Certificate programs in Paralegal focusing on the areas of Alternative Dispute Resolution, Office Management, and Personal Injury. Kaplan's innovative program combines the career-oriented focus of a two-year degree with the academic curriculum of a four-year program, offering you the flexibility of joining the workforce while pursuing your lifelong goals. ( More Info )
• Colorado Technical University - Online Colorado Technical University's online degree programs include Bachelors and Associate degree programs in Business, Criminal Justice and Information Technology. CTU's online programs also offer unique professional certification program that enables students to advance their careers while studying to get their degree. ( More Info )