Before moving straight into the Career as Real Estate Agent, we should know the Real estate definition to understand the concept of Real Estate.
What Is Real Estate?
Real Estate is real property that consists of land and anything built on it like buildings, fixtures, roads, structures, and utility systems. Property rights give a title of ownership to the land, improvements, and natural resources such as minerals, plants, animals, water, etc.
Types of Real Estate
There are several types of real estate, each with a unique purpose and utility. The main categories are:
The land is the baseline for all types of real property. Land typically refers to undeveloped property and vacant land. Developers acquire land and build structures upon it.
Residential real estate consists of housing for individuals, families, or groups of people. Within residential, there are single-family homes, apartments, condominiums, townhouses, and other types of living arrangements.
Commercial property refers to land and buildings that are used by businesses to carry out their operations. Examples include shopping malls, Cinema halls, office buildings, parking lots, hospitals, and hotels.
Industrial real estate refers to lands and buildings that are used for industrial businesses. These include factories, mechanical productions, research and development, construction, transportation, logistics, and warehousing.
Is Real Estate Investing a Safe Bet now?
Real Estate has been historically considered to be attractive for investors. In fact, real estate is considered the hottest investment avenue. You have the flexibility to invest in real estate either for your own or investment purposes.
There are a lot of benefits to investing in Real Estate.
- Large Returns
- Assured Regular Income
Today many people are investing in real estate and it has become a popular trend.
Real Estate In India
The real estate sector in India is expected to reach a market size of US $1 trillion by 2030 from US$ 12O Billion in 2017. It is predicted to contribute 13% of the country’s GDP by 2025 that is the US $650 billion.
Retail, hospitality, healthcare, education, and commercial real estate are also growing significantly, providing the much-needed infrastructure for India’s growing needs.
Growth in ITeS / IT, Consulting, and Manufacturing Sectors are driving the requirements for Office Spaces. Office Leasing Space reached 60 MSF across eight major cities, registering a growth of 27 %. Office Sector Demand with Commercial Leasing activity reached 70 MSF in 2019.
Growth in sectors like education, healthcare, E-commerce, and logistics has increased the demand for Real estate.
The co-living market size across India’s top 30 countries is expected to grow more than double to reach 13.92 billion US dollars by 2025.
Across 7 Major cities, Housing Sales reached 2.61 Lakhs Units.
As per the data of the Department for Promotion of Industry and Internal Trade Policy (DPIIT), Construction is the 4th Largest sector in terms of FDI Inflow.
Real estate in India is expected to attract more non-resident Indian(NRI) investment, both in the short term and the long term. The Indian real estate attracted private equity investments worth 5 billion US$.in 2020.
Bangalore is the most favored destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi, and Dehradun.
What are the Skills required to join Real Estate
Most of the people working in Real Estate have some skills in common.
- Enjoy Networking with others
- Interest in visiting Real Estate sites
- Continually build new skills
- Entrepreneur Skills
Why should you Join Real Estate
Real Estate Agent is a rewarding career. Real Estate Agents can earn a good income with high incentives with unlimited growth potential. Real estate provides you with tremendous growth opportunities. Also, working as Real Estate Agent provides you with a stable career. It is good to work and help people to find their dream homes. Working as a Real estate agent provides you that opportunity. Also, you can choose your time to work.
Let’s explore how the industry works and what the major jobs and careers are. The real estate industry can be divided into several different areas:
- Sales and marketing
- Property management
- Professional services (law, accounting, etc.)
Real Estate Agent Job Profiles
If you are looking to get a job as a Real Estate Agent, you will have to do your research first as there are a wide range of career options associated with the real estate industry.
Here are some of the real estate careers other than Real Estate Agents with their job description, salary, and requirements to make choosing the right career path easier.
1) Real Estate Investor
Becoming a real estate investor is the most rewarding career in real estate! Real estate investors are those who buy properties or land, try to maximize their profits, and then sell their investments.
A real estate investor (a successful one, that is) understands when and where to buy investment properties. This requires them to have extensive knowledge in the real estate market to start making money. Buying blindly puts you at risk of losing your cash and investment. While there is no set salary for this job, the average annual salary for a real estate investor in the US is $124K, according to ZipRecruiter.
2)) Real Estate Agent
Getting a job in real estate as an agent is one of the best and most common real estate careers. Real estate agents or Property agents help people sell or buy properties. Meaning, you can either be a buyers’ agent or a sellers’ agent. You can also be either a residential or a commercial agent:
Residential Real estate agent:
Residential real estate agents facilitate the home buying process between sellers and buyers. You can be even more specialized by focusing on specific kinds of property like single-family homes, condos, luxury homes, vacation homes, or foreclosures. You’ll need a license to become a residential real estate agent, but your success depends on how well you meet your clients’ needs.
Commercial Real Estate Agent
Commercial real estate agents are similar to residential agents, but they work in the commercial sector of the real estate industry. Instead of houses,
Commercial real estate agents sell properties to businesses. Moreover, this type of real estate career requires you to have analytical knowledge in business and finance. This is because commercial agents work with data like gross rent multipliers, capitalization rates, and internal rates of return. Regarding their salaries, both residential and commercial real estate agents work on commission. So, they make a percentage of the amount of real estate property in the transaction. However, according to the National Association of Realtors® (NAR), commercial real estate agents earn twice as much as residential agents.
Real Estate Broker
Brokers have the option to work either independently or to start their own brokerage. If you have an entrepreneurial drive, consider a career in real estate as a broker. Depending on your state’s requirements, you must spend 1 – 3 years working as a real estate agent first before you can apply for a broker license.
You may also be required to complete a training course and pass the broker licensing examination. Thus, becoming a real estate broker is one of the best real estate careers if you’re already an agent and looking to grow your career. According to Glassdoor, the average real estate salary for brokers in the US is $72.5K/yr.
- Real Estate Developer
Real Estate developers are those who buy land and build real estate property on it. This includes from a residential house to the office building. A real estate developer is responsible for planning and coordinating the construction of these buildings, financing it, and bringing in a team to execute the plan.. As for your real estate salary as a developer, it’ll depend on a number of things like years of experience, the company you work for, and the type of real estate properties you build.
Real Estate Wholesaler
Real estate wholesaling is one of the best real estate careers for making money quickly. Here’s how to wholesale real estate properties:
- Find a distressed property whose owners are motivated to sell quickly
- Convince the property owner to sell the property and sign your contract
- Assess the property’s renovation needs and ARV (after repair value)
- Find a buyer and sell the property for profits
This is one of the best career opportunities in real estate for you if you have an eye for distressed properties and strong negotiation skills. It’ll take some time, but it can reap significant rewards if done correctly!
As a property manager, you ensure the financial and physical well-being of the real estate property. You’ll also have to ensure the tenants of the rental property are satisfied, and you’ll have to work with the property owner to ensure everything is functioning smoothly.
To become a property manager, you need to have a broker license. You also need to have a certain set of skills including customer service, managerial skills, and the ability to problem-solve while on the go. In addition, if you’re interested in a property management career, you’ll need a reasonable understanding of finances, marketing, facility operations, and documenting important information. Glassdoor estimates the average real estate salary for property managers in the US is $54K/yr.
Real Estate Attorney
Real estate attorneys are professionals who apply their skills to the legalities behind property disputes. For example, when there’s an issue with the title, documentation, transfers, or other legal problems, the attorney’s job is to step in and settle the tension. Attorneys are the most helpful when providing clients with guidance during the transaction process to ensure the sale of the home is legal.
To become a real estate attorney, you will have to undergo the extensive educational experience. You need to have graduated with a Bachelor’s degree, passed the LSAT, earned a Juris Doctor degree, and then passed the bar exam. This process could generally take 6-8 years to complete. Then, you also need to spend another 2 years of accumulating experience as a lawyer. Like other real estate careers, becoming a real estate attorney will earn you an impressive salary of $119K/yr according to Glassdoor.
A real estate inspector examines real estate properties for any defects or issues that will cause problems for the buyer, seller, or agent. Inspections are a critical part of the transaction in the real estate industry. This is because a home inspector helps point out any faults and blemishes that might go
unseen. Glassdoor estimates the average base salary for a real estate inspector is $38k/yr.
Real Estate Appraiser
Appraisers are professionals who determine the value of the commercial or residential real estate. Becoming a real estate appraiser means you need to know how to value properties based on their characteristics, location, and by comparing the property to other similar properties.
To become a real estate appraiser, you need an appraiser’s license. To get one, you need to complete 75 hours of basic appraiser education and pass an exam by the state. Since you’ll be working in finance and economics with this career in real estate, having an educational background in these areas is helpful. Moreover, you have the option to work independently or with a larger business and appraise commercial properties. According to Glassdoor, the real estate salary for appraisers is $53k/yr.
If becoming a leasing agent is your real estate career path of choice, then you’ll be working directly with property owners to find the perfect tenant to lease their rental properties. . You’ll have the choice of working in either the commercial real estate sector (leasing businesses) or residential real estate (leasing individual tenants).
Because you will be working with both the client and potential tenants, you need great interpersonal communication skills. There’s going to be a lot of face-to-face time with the client and tenant, so you need to know how to navigate negotiations and conversations. An additional understanding of marketing and promotion will help you excel in this type of real estate career.
Few of the more job profiles in Real Estate are
- Real Estate Assistant
- Real Estate Marketing Specialist
- Real Estate Consultant
- Real Estate Loan Officer
- Mortgage Broker
What is the Real Estate Agents Salary?
An entry-level Real estate agent’s salary with less than 1-year experience average (including tips, bonus, and overtime pay) is Rs 200,000.
An early career Real Estate Agent with 1-4 years of experience earns an average total compensation of Rs 294,791.
A mid-career Real Estate Agent’s salary with 5-9 years of experience averages Rs1,000,000.
The average salary for Real Estate agents in India is 1,315,738 INR per year. The most typical earning is 871,350 INR
Salaries are different between men and women. Men receive an average salary of 1,268,612 INR. Women receive a salary of 1,480,641 INR.
Based on education, the highest salaries receive people with a Master’s Degree with a salary of 1,401,493 INR. The second most paid education level is a Bachelor’s Degree with a salary of 1,144,155 INR.
Different experiences affect earning as well. People with 12-16 Years of experience receive a salary of 2,140,761 INR. Employees with 4-8 Years of experience receive 2,045,203 INR.
The eligibility requirement to become Real Estate Agent in India
In India, there is no examination or license process like in the US and Canada where you have to pass some exams to be called Certified Real Estate Broker.
Still, you should choose some courses which will definitely give you the right direction in your real estate career path.
Becoming a real estate agent requires taking a state license exam. States have different exams, so real estate agents must become licensed in every state in which they practice.
Real estate brokerages will offer additional training in how to properly list and sell the property. While working under a brokerage, a real estate agent will have to work closely with other agents in their brokerage as well as with their clients.
To successfully sell a home, a real estate agent needs to bring interested parties to listed properties to show them around. This allows clients and interested buyers to determine whether or not they wish to finalize a deal.
Real Estate Courses
There are several training courses for Real Estate Agent different institutes in India. Real Estate/Property Development & Management, Real Estate Marketing, online real estate courses to get licensed as a professional real estate broker, and a lot more. These courses can help you get the best paying jobs in real estate..
What are the Top Real Estate Management Institutes in India?
A degree in entrepreneurship is another good choice for those interested in starting their career in Real Estate Agent India. When you get an entrepreneurship degree, you get an overview of the skills required to launch a Real Estate business. Entrepreneurship degree plans cover law, marketing, business, accounting, and more.
|Institute Name||City||Course Name||Duration||Course Fees|
|NIREM Institute of Real Estate Management||Mumbai||Certificate in Real Estate Management||1 month||Rs.16 000|
|Real Estate Management Institute||Mumbai||Real Estate Property Evaluation||8 hours||Rs.2 500|
|AAFM India||Delhi||Real Estate Management||6 months||Rs.35 000|
|India Institute of Real Estate||Pune||Real Estate Management||—||—|
|iLead||Kolkata||Real Estate Management||6 months||Rs.20 000|
|National Real Estate Development Council||New Delhi||Certificate Course in Real Estate Management||3 weeks||Rs.20,000|
|V Skills||New Delhi||Certified Real Estate Consultant||1 hour||Rs.3,499|
|Institute of Real Estate and Finance||Pune||PGC Real Estate Business Management||1 month||Rs.3,499|
|Symbiosis Institute of Management Studies||Pune||Real Estate and Construction Management||15 months||Rs.3,00,000|
|IFAN||Mumbai||Chartered Real Estate Professional Certification||–||–|
Real Estate Online Courses
Online courses in Real Estate Management are also available.
|Increasing Real Estate Management Profits: Harnessing Data Analytics||Coursera||7 weeks||INR 3,616|
|Commercial Real Estate Analysis and Investment||MIT School of Architecture and Planning||6 weeks||2,059 Euro|
|Real Estate Asset Management 101||Udemy||3 hours||INR 8,640|
|Real Estate||International Career Institute (ICI) – USA||6 months||987 Euro|
In some of these courses, instructors do conduct tests for finalizing your certificates. On completing your course for Real Estate Agent you can get a realtor job in a good real estate company.
Top 10 Real Estate Companies In India In 2021
Real estate companies are the one-stop destination for the solution to the problem of not knowing how to create a dream house for yourself. Although like other sectors, real estate too have suffered a huge setback due to the coronavirus situations, but after the situations can be considered as normal, things are getting better for the sector.
Listed below are the Top Real Estate companies in India in 2021 where Real Estate Agents can get the best paying jobs in real estate..
1. DLF Private Ltd.
Founded by Chaudhary Raghvendra Singh in the year 1949 and constructed 22 colonies to kickstart DLF. The company has been involved in making workplaces and villas for the working professionals around Gurugram and has reached a remarkable position by delivering the best possible projects. Microsoft, Bank of America, and IBF are some of its notable clients in the list of many others.
2) Prestige Estates Projects Ltd.
Headquartered in Bangalore, Prestige Estates Projects Ltd was founded by Razack Sattar. Founded in 1986, Prestige Estates Project Ltd is among the most successful real estate companies in the nation today. It has succeeded in giving out more than 200 projects and satisfying its clients with each passing one.
3)IndiabullsReal Estate Ltd.
Headquartered in Chennai, the company was founded in 2006. The main aim of the company is to provide luxury living spaces for all its clients. The company is also intending on reaching and expanding out to the international markets as well.
4)Brigade Enterprises Ltd.
M.R. Jaishankar founded Brigade Enterprises Ltd. in 1986. The company is one of the top real estate companies present today in Chennai. It has been putting in its efforts to deliver one of the best commercial and residential buildings to its clients. Hospitals, shopping stores, and malls come under the projects that it has been successfully giving out.
5) Oberoi Realty Ltd.
Headquartered in Mumbai, the company was founded in the year 1980. Currently, the company has been dealing with projects in and around Mumbai. The company is involved in the IT sector, retail sector, and a lot more. Oberoi Realty builds villas in metropolitan cities, modern residential properties, and other stylish properties.
6. Godrej Properties Ltd.
A listed company in the national stock exchange, Godrej Properties was founded by Adi Godrej. Having a net worth of about 100 million, the company has managed to be the top real estate company in Hyderabad. Ranked 2nd best at the Asian level, Godrej is surely reaching new heights.
7. Omaxe Ltd.
Founded in the year 1989, Omaxe Ltd. is an initiative by Rohtas Goel. The company is among one of the most trusted and known real estate companies in the nation.
8) Housing Development And Infrastructure Ltd. (HDIL)
Competing neck to neck with DLF Private, HDIL, is a company that the majority in the national trust and have developed a faith for. Headquartered in Mumbai, the company is focussing on a lot of projects inside and around the state. The company specializes in constructing workplaces, shopping malls, and residential properties among a lot many. It is also undertaking a number of slum clearance and rehabilitation projects.
Founded in 1995, Sobha Ltd. is presently headquartered in Bangalore. The company is involved in a number of government projects, commercial and residential property building projects, and a lot more.
10) Ansal Properties And Infrastructure Ltd.
Founded in 1967, Ansal Properties is among the oldest real estate companies in the country. It is engaged in developing residential and commercial properties. The company is also trying to undertake the state government projects of building economic zones, shopping malls and is involved in a lot of other property developments.
Best Real Estate websites in India
Magicbricks.com is a part of Times Internet Limited, a subsidiary of the Times of India group.
99acres.com is one of the most prominent and reputed websites. Initiated in 2005, it has large listings of dealers, builders, and property owners.
Indiaproperty.com is the best site for small cities.
Propertywala.com is mainly for renting and purchasing real estate in cities like Hyderabad, Pune , Bangalore, Ahmedabad, and other commercial cities.
Sulekha.com is mainly for residents of south Indian cities like Coimbatore, Mysore, etc.
There are other websites like Makaan.com, Common floor.com, and housing.com. Buying and selling have become easy with these online portals.
The Indian Real Estate sector can become more lucrative if steps are taken in the right direction. The Indian Real estate sector can catapult the growth of several other sectors in the Indian economy through backward and forward linkages.
The foreign investments in Indian Real estate will increase as the industry becomes more mature. It will also lead the developers to become more organized and transparent to avail opportunities emerging in the market.
Thus the more structured and well organized the Real Estate in India becomes, the better the investment opportunities and even better the real estate career opportunities for Real estate agents.