KOBOHEIGHTS

Different careers in real estate

Today we look at the ever growing not to mention prospective real estate sector of Nigeria and list its various job prospects. This shall be informative as well as brief Job Options Residential Real Estate Agent/Broker Real estate agents and brokers are usually independent sales professionals who contract their services to real estate brokers in exchanges for a commission-sharing agreement (normally one percent in Nigeria). There are thousands of registered real estate brokers and agents in the country. To become a broker you must be at least 18 years old, a Senior Secondary Certificate and a real estate brokering license (more updates on the career gateway article) Commercial Real Estate Sales Commercial property brokerage offices use sales associates who market office buildings, hotels and many other types of commercial real estate for brokers, it is more competitive and profitable than residential real estate and perhaps more regulated. Commercial real estate sales people usually specialize in a particular property type such as retail, office, hospitality, shopping centers and industrial plants. Most of the large commercial brokerage companies in the Nigeria provide a great deal of local market data and research in order to be able to service a cadre of sophisticated clients who are making high profile investment decisions. Several trade organizations represent the various commercial real estate subspecialities in the country (more updates on the career gateway article) Real Estate Appraisal Real estate appraisers provide unbiased estimates of a property's value and quality. Appraisers usually work for finance institutions or for appraiser firms(which are still upcoming virgin territories) and will normally value properties by finding comparable sales in an area or by estimating the discounted value of cash flows expected from a property. This profession is less cyclical than the usual real estate brokerage because appraisers are needed mostly when the real estate market has been slow. (more updates on the career gateway article) Property Management With Government micro-managing nigeria properties and property owners, Leading real estate owners require professional property managers. Managers are responsible for negotiating leases, ensuring that tenants are satisfied, that rent is paid and that rents reflect market conditions. The career of property manager requires good interpersonal and analytical skills and a fair amount of negotiating prowess. This job is personally rewarding and allows you to really learn the real estate markets should you wish to embark in business on your own.(more updates on the career gateway article) Real Estate Advisory With nigeria initiating mortgage schemes e.g: rent to own etc. Institutional investors are purchasing real estate more and more. But real estate is not like paper assets that you can buy and put in your matress . Real estate advisors help investors care for property make sure its registered with FHA and keep away extortionists(omo onile) and, more importantly, select property in the first place by suggesting areas and property types that are likely to experience price appreciation in the future. This job is fun and one that you can get into after getting experience in investing or property management. People who are good with statistics and excel at client contact do well in this job (more updates on the gateway article) Investment Banking With the many banking and finance graduates in the country perhaps the banks aren't the only institutions one can work in, many investment banks have groups dedicated to real estate, particularly the repackaging of mortgages into residential mortgage-backed securities (MBS) etc. If you have an interest in both real estate and investment banking, why not go for both areas at once? (more updates on the career gateway article) Development and Construction Are you willing to work hard and take risks to develop new properties? Then a career in real estate development may be for you. You can enter this business working for another developer, moving up to construction manager, or you can strike out on your own, starting with some smaller transactions. Good developers are results-oriented and know how to get work on time which involves managing labor, establishing time estimates, getting appropriate equipment operators and construction crews.(more updates on the career gateway article) Real Estate Entrepreneur Real estate is one of the last bastions of the free-enterprising entrepreneur who buys properties in hope that they will rise in value because of improvement in market conditions or renovations. For as long as one can remember, some of the wealthiest persons in the world have been real estate entrepreneurs. To make it in this career you need to be savvy, hard-working, willing to take risks and fortunate. Remember, there are others who would also like to become wealthy in real estate who will be bidding on the same deals and properties that you will. It is important, then, to think carefully of how you can succeed in this market through better wits, a superior management approach or a unique niche strategy(more updates on the career gateway article coming soon)