Overview of Real Estate
Real estate is an area of business and a professional career that includes activities such as buying, selling, managing, and appraising real property and other land assets. It involves the managerial, financial, and legal aspects of owning and leasing land or other real assets. Real estate can be residential (homes, apartments, and condominiums), commercial (office buildings, retail centers, and warehouses), or industrial (factories, farms, and ranches). Real estate agents, brokers, appraisers, and land developers are all involved in the real estate industry.
Career Opportunities for Graduates with an Associate Degree in Real Estate
For graduates with an associate degree in real estate, there are a variety of careers available, including real estate broker, appraiser, property manager, real estate developer, mortgage banker or loan officer, and real estate investor. With a foundational understanding of real estate principles and practices, graduates of an associate degree program may also pursue additional certifications and vocational programs to specialize in a particular area of real estate.
Internship and Co-op Opportunities
Many colleges and universities offer internship and co-op opportunities related to real estate. There are a variety of potential employers in the real estate industry, such as real estate brokerages, banks, developers, and property management companies, who look for and offer these types of opportunities to students. Internships and co-ops provide valuable work experience in the real estate industry, which is a valuable asset when searching for a job after graduation.
Specialized Tracks and Concentrations
In most associate degree programs, there are specialized tracks or concentrations available to students. Specialized tracks tend to focus on a particular area of real estate, such as property management, investment analysis, appraisal, finance, or real estate law. During an associate degree program, students have the opportunity to focus their coursework and explore topics in depth within specific areas of the real estate field.
Education Beyond the Associate Degree
An associate degree in real estate can serve as a foundation for further education. Graduates are typically able to apply credits earned through an associate degree program to a four-year bachelor’s degree program in real estate or a related field. Earning a four-year degree opens up even more career opportunities within the real estate industry.
Impact of Artificial Intelligence on Real Estate
Artificial intelligence is becoming increasingly common in real estate transactions, as evidenced by the increasing use of tools such as virtual reality, automated data analysis, and even automated property valuations. Artificial intelligence can greatly speed up the real estate sales process and reduce transaction costs, allowing homebuyers and sellers more time to focus on other aspects of the process. Additionally, AI is making it easier for real estate agents and brokers to focus on finding the right property for potential buyers at the right price.
The Career Outlook for Real Estate
The outlook for graduates with an associate degree in real estate is strong. The U.S. Bureau of Labor Statistics (BLS) reports that employment of real estate agents is expected to grow from 7% to 9% from 2019 to 2029, faster than the average for all occupations. Additionally, the median annual wage for real estate agents as of May 2019 was $51,740, according to the BLS. With an associate degree, graduates can enter into many different careers within the real estate industry.
Here are the top reported starting salaries for graduates in Real Estate:
- Sinclair Community College, Salary: $35,411
For privacy reasons, not all schools report the first year salaries for students who earned their associate degree in Real Estate.