Real Estate Bachelor’s Degree Online
Is a Real Estate Degree for You?
Real estate bachelor's degree programs focus on the basics of appraisal, property management, mortgage lending, and sales and brokerage. Although some real estate programs are classified within a liberal arts degree, most often, a real estate degree is found within a college of business. Real estate students can expect to study disciplines such as accounting, personnel management, finance, information systems, management, and marketing. A real estate bachelor's degree program helps students to understand real estate market analysis, site selection, investment analysis, economics, and the professional services that support real estate transactions.
Advice for Earning Your Real Estate Degree Online
It is important to remember that, while having a bachelor's degree in real estate is an extremely sellable point to all employers, every state in the U.S. requires that a real estate broker or sales agent be licensed. To become licensed, prospective brokers and agents must pass a written examination administered by the state. The exam includes questions on basic real estate transactions and the laws affecting the sale of property, which should be covered in a real estate bachelor's degree program.
Required Courses
Students obtaining a bachelor's degree in real estate will take numerous classes within the business department of their institution. Real estate students can expect to take courses such as real estate law, market analysis, urban fiscal policy, housing and community development policy, public regulation of land use, basic statistics, general business courses, and many more. Students should anticipate course work involving group projects and written assignments.
Common Career Paths
Because purchasing a home or leasing a business property is one of the most important purchases you will make, real estate workers play an essential role in today's society. Of all of the options for real estate careers, the most popular is the real estate broker. However, there are still a variety of other jobs you can find within the industry. Below are some common career paths for those with a real estate degree:
- Real Estate Broker and Sales Agent
Real estate brokers and sales agents are the liaison and price negotiator between buyer and seller. Brokers and sales agents must have impeccable knowledge about the surrounding communities and the property they are selling, including tax laws and zoning information. The majority of brokers and sales agents deal with residential property, but some deal with commercial ones, such as selling office buildings, industrial buildings, and hotels. A broker and a sales agent do the same line of work, except a broker is licensed to manage their own real estate business, while an agent is typically employed by a broker. To become either of the two, you must get proper state licensure.
According to the U.S. Bureau of Labor and Statistics, real estate brokers earned a median annual wage of $54,910 in 2010, while agents earned a median annual wage of $40,030.
- Real Estate Appraiser and Assessor
The main responsibility of a real estate appraiser is to give his or her clients real and unbiased estimates of a particular property's value and quality. They take into consideration any environmental issues which may affect a property's worth. For example, if the property is next to a major highway, it may intensify or depreciate its value. They also consider the specific architectural style of the piece of property and whether additional renovations to the property have been completed. An assessor's job is similar to that of an appraiser, but focuses more on the value of an entire neighborhood for tax purposes.
Both jobs require a person to become state certified. Typically, you must be a bachelor's degree holder to apply for certification, but some states allow associate degree holders to apply. According to the U.S. Bureau of Labor and Statistics, the median annual wage of real estate appraisers and assessors was $48,500 in 2010.
- Property Manager
Property managers are responsible for keeping a watchful eye on all operations of the residential or commercial property. This property can include anything from an apartment complex, retail store, or even an assisted living facility. In addition, property managers are also responsible for ensuring that tenants are satisfied with the establishment by providing the unit with janitorial and maintenance services, security, and addressing any other concerns. Typically, property managers make sure the property is at maximum occupancy to increase profits. They ensure rent or mortgages are paid on time, and that tenants are abiding by lease contracts. Those who wish to pursue the career may need a master's degree in real estate, business administration, accounting, or finance, especially if working for a large firm. While a degree can help you acquire the position you want, most will require extensive work experience in leasing, or as an assistant.
According to the U.S. Bureau of Labor and Statistics, the median annual wages for property managers was $51,480 in 2010.
