Overview
The process of getting a job in real estate is not as
structured as getting a job in say, finance. Real estate firms typically do not
schedule conventional on-campus interview schedules through the Ford Career
Center (although the FCC staff is working hard to
change this). This is because real estate firms are typically smaller than other
firms on-campus and they do not know their summer or permanent hiring needs
until April, May or later. Thus, you will usually only see large national firms
on the schedule. To get a job in real estate, you have to go out and find opportunities. You
want to meet as many industry professionals as you can and put your name and
resume in front of them, so that if an opportunity comes up, you will be one of
the first people they call. You want to go to the
Graduate Real Estate Society Calendar and go see real
estate speakers on- and off-campus. GRES members can
usually attend these events free, in exchange for doing a little work at the
event. Remember, real estate is a very "relationship" oriented
business where connections really make the difference. It is also a good idea to sign up for the Mentoring Program in order to make
contacts and find out from them other names of people that they think you should
talk to. This way you can find out more about these firms and about real estate
in general so that you can talk intelligently in an interview. The Center for Real
Estate Finance can also be a great job resource. They
send emails to the CREF membership list with job announcements that real estate
firms send the FCC. The main point is that you have to make your own job happen in
real estate. Although the Ford Career Center and the Center for Real Estate
Finance will do all they can for you, nobody will hand a job to you on a plate.
The more active you are, the better job you will eventually get.
If
you are seriously considering working in real estate, it is a good idea to start
by working toward your Texas real estate license. Whether you decide to practice
residential or commercial real estate, it does not matter - there is only one
license. I have found that most firms will take you a lot more seriously if you
can demonstrate to them that you are working toward obtaining your real estate
license. For more information about the Texas real estate license, please visit
the TREC website at http://www.trec.state.tx.us/.
Is a Career in Real Estate Right for You?
There
are currently more than 5 million people in the United States
employed in identifiable real estate fields such as title insurance,
construction, mortgage banking, property management, real estate appraisals,
brokerage and leasing, and real estate development. In addition, many were
engaged in corporate real estate and in real estate lending in commercial banks,
savings and loans, and insurance companies where their jobs are not included in
the real estate sector. Over a third of the world's wealth is tied up in real
estate. Real estate is collateral for mortgages and a large amount of financial
assets. As important as the field of real estate might be, it is also worth
recognizing how interesting the work in this field is. Real estate
professionals are tied to the development of our society in a very direct way
and participate in decisions that will shape the way we live for centuries. Work
in real estate is personally rewarding, ever-changing and challenging. Take some
time and consider your potential in the field of real estate. The Good about a career in Real Estate.... ....and the Bad about a career in Real Estate