Overview of Real Estate

Real Estate is a broad and exciting field that deals with the purchase, sale, and management of properties such as land, residential, and commercial buildings. It involves carrying out a variety of tasks, such as conducting market research, considering the legal implications of buying and selling property, and dealing with financial transaction processes. Real-estate professionals put in the effort to make sure that each aspect of the real-estate process runs smoothly, from start to finish. This means staying knowledgeable about changing market trends, local zoning laws, and tax regulations, as well as attracting and qualifying buyers.

Career Opportunities

Those interested in a career in Real Estate can either work in the field, be self-employed or work for a larger agency. Common career opportunities for real estate professionals include residential and commercial brokers, real estate analysts, loan officers, title and escrow officers, appraisers, agents, and consultants. Many graduates are also well-suited for government roles such as environmental planner, public policy manager, and urban planner.

Internship/Co-op Opportunities

Real Estate students can take advantage of the numerous internship and co-op opportunities that are available in the field. Internships are an excellent way for students to gain valuable skills and experience while also building professional networks. In addition, professional organizations such as The National Association of Realtors (NAR) offer summer internships and fellowships that allow students to gain in-depth knowledge of the field and develop direct connections to the industry.

Tracks and Concentrations

Most universities offer a wide variety of course concentrations and specializations within the field of Real Estate. Common topics can include: appraisal, finance, legal aspects, history, economic developments, marketing, urban planning, environmental planning, and management.

Preparation for Graduate School

Real Estate majors are well-prepared to pursue graduate studies in fields related to Real Estate. Real Estate programs often help graduates develop research and analytic skills that are applicable to various fields like finance, economics, and urban studies, amongst others.

Impact of AI

In recent years, AI has greatly impacted the Real Estate industry. AI has been used in the form of bots to automate customer service inquiries, performs statistical analysis, and facilitate transactions. AI can also help agents better understand property data for market pricing and listings, allowing for more accurate and efficient transactions.

Career Outlook

The Real Estate industry continues to grow and there is increasing demand for professionals in the field. According to the Bureau of Labor Statistics, the job outlook of real estate agents and brokers is expected to increase by 4% from 2020 to 2028. This growth is mainly due to aging baby boomers who are looking for sound investments and new properties.

Here are the top reported starting salaries for graduates in Real Estate:

University of Southern California, Salary: $75,665

Villanova University, Salary: $70,782

University of Wisconsin-Madison, Salary: $69,730

New York University, Salary: $60,021

Texas Christian University, Salary: $59,869

University of San Diego, Salary: $58,970

Ohio State University-Main Campus, Salary: $55,093

Syracuse University, Salary: $53,802

University of Denver, Salary: $53,339

University of Georgia, Salary: $52,848

For privacy reasons, not all schools report the first year salaries for students who earned their bachelor’s degree in Real Estate.