Real Estate Management

Buildings near a waterfront

The real estate industry is booming across the country with the increasing need for offices, apartments, malls and multiplexes.

Dr Vibha Gupta

Real estate management is the administration, operation, marketing, and maintenance of real estate in order to achieve the objectives of the owner of that real estate.

The work
Real estate managers oversee the performance of income-producing commercial or residential properties and ensure that real estate investments achieve their expected revenues. The specific work they perform varies greatly depending on the position they hold and the organization or company they work for, as well as the type of real estate they manage. Here are some of the career options available in the real estate sector:

A residential real estate broker deals in residential properties and may represent either the buyer or the seller. A commercial real estate broker sells hotels, office space and similar commercial real estate properties. He/she may concentrate solely on retail office space, mall space, industrial space or hospitality space. Since commercial real estate is a preferred investment sector, initially these brokers may be involved in extensive market analysis.

A real estate appraiser determines the fair market value of a home for sale. They assess the value of properties on behalf of an appraisal firm, a bank or even major private investors. They are involved in refinancing, too.

A property manager usually is part of a professional property management firm and looks after the investment of the property owners. He handles customers and manages lease and rent deals. Good negotiation and people skills are de rigueur in this line. A real estate investment consultant has extensive inside knowledge of the real estate market and advises property investors on the best investment options.

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Dr Vibha Gupta
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Dr Vibha Gupta

Dr Vibha Gupta is a Ph.D. in Mathematics from IIT Roorkee. A feature writer, her book Careers: A Pathfinder and articles in various publications attempt to guide students in choosing a career according to their natural strengths, talents and skills.