Real Estate School - Qualities of a Good Real Estate Agent

Before investing in a real estate degree, candidates should figure out whether they have the characteristics of a successful agent. After all, a degree program can provide the background knowledge and the competitive edge required for success, but real estate sales depend largely on interpersonal relationships. The ideal candidate will have certain personal traits that ensure that interpersonal relationships can be built effectively. In addition, real estate agents must have the temperament and traits that all salespeople share.

• First and foremost, real estate agents must be effective communicators. Buying a home or investing in commercial property is often the most consequential financial decision of a lifetime.
• While a real estate agent deals with sales on a daily basis, clients face a nerve-wracking decision. Agents must be able to listen to what a client wants and understand client desires well enough to show clients appealing property; agents must also communicate the ups and downs of each site.
• An agent's job is not so much to convince buyers to purchase a certain home, but to match a buyer's desire to real estate reality. Good taste plays no small part in this process.
  

Succeeding in real estate means working with people in often frustrating situations. Agents spend hours preparing open houses, setting up showings, and helping clients navigate the bureaucratic hoops of home buying, yet (unlike in other professions) they are generally paid only when a deal closes. Agents must, however, remain friendly and people-oriented, drawing out the tastes and hopes of buyers through positive interactions with them. This requires an excess of patience. After some time in the business, the process of buying property begins to seem mundane to many real estate professionals. But for many of their clients, looking to buy a family home or commercial property for the first time will seem like the most important choice they have ever made. Real estate professionals must have the perspective to understand this and empathize with their clients. It takes a special brand of equanimity to remain professional despite the sometimes frustrating indecision that affects many buyers.

• Real estate professionals are business people. They must be imbued with qualities that the titans of industry have. They must be good, fair-dealing salespeople. This not only means being able to close a deal, but also being able to match buyers with opportunities. No one benefits when buyers overshoot the mark on what they can reasonably afford. There are many steps to guide property buyers and sellers through, from loan approval and open homes to offers, counteroffers, appraisal, escrow, and finally, closing. Real estate professionals are goal-oriented people, using organization and knowledge to guide everyone through the process.
  
• Finally, real estate professionals face a great deal of competition from others in the industry, co-workers, and even clients themselves. There is a divide between agents and successful real estate professionals. Successful players are the ones with perseverance. They will show a client that thirtieth home in the hopes that it will suit the client's demands. They must be ambitious, moving from open house to open house and learning their local market while keeping an eye on more far-flung opportunities. Success requires ambition in this field, perhaps more than in others, because of the growth in the industry and the recent recession. These fluctuations have left behind a difficult playing field where only the strong survive.
  

If your personality encompasses all or most of these characteristics, you should consider a real estate degree. Although personal ability is paramount, a real estate career needs a foundation in knowledge. Real estate professionals must know their markets and the rules and requirements of their state.

Evaluating a Real Estate School

When choosing a school at which to obtain your real estate degree, whether it is an online program or a traditional brick-and-mortar institution, there are several factors to consider. A school must suit you, your budget, and your aspirations. Not all schools are equal.

From a professional perspective, candidates should examine how schools stack up against others in the country. A school’s reputation can make the difference in a job interview or when applying for a graduate degree. In fact, colleges and universities, and their degree programs, are ranked by a variety of publications. These rankings can easily be found by a search of magazines such as the U.S. News & World Report. School statistics are compiled and stakeholders are surveyed to establish the rankings. These publications and a school’s own website also have statistical information such as the number of graduates placed in real estate firms and other businesses.

From a more personal perspective, students must consider the impact an institution has on student life. The size of a school can significantly affect a student’s experience and even academic success or failure. Some students thrive in a small setting where they can find the support of familiar faces. Others require the stimulation that a large institution can provide. School size can easily be researched on a school’s website. Other things to consider are the number and quality of student organizations on campus, as well as the caliber and extent of campus facilities. Information about libraries and computer labs can also be found on a school’s website.

Finally, applicants must be realistic about their own situations. Location can make a school both more comfortable and less expensive. In addition, applicants must match their own career goals with programs. Some programs offer specific classes in a certain area of real estate and offer internship opportunities that others do not. Research is a necessity of the school application process.

Real Estate School Reputation

One of the most important factors to consider when selecting a school at which to take your real estate degree is the school’s reputation. Not all degrees are equal. Just as a master’s degree carries more weight than a bachelor’s, and a commensurate higher salary, a degree from a renowned program has benefits. Employers are more likely to hire a candidate with a degree from a prestigious program.

Degree programs with good reputations have them for a reason. Some reasons are hard to quantify. Schools build up a mystique based on tradition and prejudices. Some measures are easily quantifiable, however.

Schools are ranked by business and news publications. These rankings are based not solely on popular opinion but also on a set of statistical measures that are worthy of attention. The rankings are accompanied by a lot of the hard data that scaffold them. Information such as student-to-teacher ratio and minority enrollment can be found in the publications that distribute the rankings. There are statistics about the salaries of first-year graduates. Average scores on standardized tests like the GRE are often included. In addition to these measures are surveys of stakeholders, from students to administrators to faculty at competing universities.

These surveys can be found in magazines such as U.S. News & World Report or online. They are also available in bound formats at school or public libraries. Another way to judge the reputation is to ask people in the industry. Their opinions, although not as scientific as a ranking, are important.

Placement of Graduates in Real Estate Firms

One of the leading indicators of a school’s quality and reputation is the number of graduates from their real estate degree programs they place into real estate firms. This of course should not be the only criterion for selecting a school, but it can be instructive. This information can be found in several ways.

Researching a school’s ranking is one of the most efficient ways to determine whether a school’s graduates go on to success in the real estate industry. Schools are ranked by a variety of publications and other media, such as BusinessWeek and Bloomberg. One of the criteria they research and publish is the percentage of graduates who land in top firms. They do this by interviewing graduates and employers. Their rankings tend to include comprehensive information about the previous year’s graduating class. This is usually broken down into categories such as the percentage hired in the real estate industry and a listing of firms that have hired graduates.

Schools themselves collect information on their alumni. Programs and alumni associations track graduates after they leave school. They also recruit alumni to serve as advisers to students seeking to break into a certain industry such as real estate. Inquiring about these statistics in an interview is a good way to express interest in a program.

Graduates can have successful careers in real estate without being hired by a leading firm. Many real estate professionals do quite well working on their own or with a few partners. It cannot hurt to know what kind of success other graduates have had with their degree.

Real Estate School Size

The size of a school and its real estate degree programs are important considerations for a prospective student. Small schools offer familiarity and support, while large schools offer facilities and a large professional network. In the end, it comes down to the personal temperament of a student. Is the student used to a lot of support and personal engagement? Is the student comfortable making his or her own way through a school with a broader spectrum of opportunities?

Schools range in size from tiny, hundred-student liberal arts schools run out of apartment buildings to massive public universities that employ the better part of a city. Small schools offer a unique opportunity for students to get to know the faculty. Advisers are familiar figures who meet with students on a regular basis. It is hard to get left behind in a small college. There are aspects of campus life that are missing from such schools.

Big schools offer diversity in both the student body and the activities that they offer. Facilities tend to be more modern and well equipped, but they can be crowded because they must serve more people. There are sporting events, theater programs, and school organizations to make student life rich and compelling. In addition, the large network of alumni can be accessed upon graduation for employment opportunities, advice, and networking. Big schools can be intimidating for some, though, and it is easy for a student to fall behind without anyone noticing the student’s plight.

Real Estate Student Organizations

College life can be alienating or enriching, depending on the individual. It can be difficult, especially at larger institutions, to form the valuable relationships and connections that will help a student mature into a successful real estate professional. Students can enrich their lives while earning a real estate degree by seeking out student organizations. Joining a student organization has benefits both personal and professional.

Student organizations must be approved by school administrators, so a good place to start looking is on the school’s website or at the student union. Organizations are usually divided into types, from art clubs to professional groups. Professional groups are a good way to meet others with the same career aspirations and to participate in activities geared toward professional goals. Organizations hold workshops and invite local professionals to speak. Academic clubs can bolster a student’s skills and grades. These organizations are good places to network and gain information about job openings and professional opportunities.

A fully rounded education includes participation in enjoyable activities unrelated to future success but dedicated to enhancing the college experience. Sports clubs allow run-of-the-mill athletes to play the sport of their preference. Film clubs organize viewings of obscure, offbeat, or classic movies. Such activities expand the perspective and enlighten the soul. In addition, students are invited by their schools to start their own clubs to match their own interests. This can be a rewarding and challenging project. It can also look good on postsecondary school applications and professional résumés.

Special Real Estate Program Offers

Once you have made the decision to earn a real estate degree, it is important to ask yourself if you can follow a traditional semester schedule. If the answer is no, then it might help to research special programs offered by schools granting the kind of degree you seek. Certain special programs can enhance the college experience or help a particular student succeed where success seems unlikely.

Accelerated degree programs allow students to finish their degrees in less time than if they took a traditional program of five courses per term. These programs often have night programs, as they are favored by working professionals seeking to bolster their résumés and skill sets. Intensive classes are given over very short time spans, sometimes during four weeks. Students focus on one course at a time and complete the coursework in a relatively short time period.

More and more schools are offering distance learning as a special program. Students use the Internet to take courses, meet with professors, and hold class discussions. These programs can reduce costs by obviating commuting or the need to live near campus.

Schools offer study abroad programs. Students can spend weeks or even months at a sister campus in a foreign city learning a language while still completing required courses. There are also special programs designed to give at-risk students extra support to succeed in their degree programs. All of these programs add value to a degree and make it easier to achieve your goals.

Real Estate School Locations

Just as in real estate one hears the mantra “location, location, location,” finding the perfect real estate degree program can rest on a school’s address. Choosing a school close to home can pay off by lowering the cost a student must incur for education. Choosing a school in a desirable real estate market can pay off in the long run.

Local schools often have a different tuition schedule for in-state residents than out-of-state students. This is especially true of public schools with charters to serve state residents. In addition, students can save money on housing costs by rooming with a friend or family member. Housing is the single biggest cost outside of tuition, so this can represent a big savings. Additionally, students benefit from a built-in support group of family, friends, and neighbors who can provide emotional assistance as well as monetary help.

It is not a bad idea to consider your future career when choosing a school based on its location. It can benefit a student to graduate from a school in the place the student wishes to start a career. For example, a school in California will better prepare students for a career as a broker in the state. Classes will prepare students for California’s licensure exams. When they graduate, they can use the school’s career placement office. In addition, they can maintain relationships with their professors and other working professionals who have mentored them.

Library and Computer Facilities

When researching schools for your real estate degree, be sure to pay attention to their library and computer facilities. Established schools with good reputations tend to spend money on their infrastructure and facilities. More than half the work you do in your degree program will be outside of the classroom, reading, doing research, and writing papers. It pays to have a comfortable and state-of-the-art place to do your work.

Libraries are the heart and soul of a university campus. They should be accessible to all students. They should be open at most hours of the day when school is in session. They must also be comprehensive. Look to see if the schools you are researching have separate specialty libraries. Check to see whether there is a real estate library. Find out how expansive their real estate collection is. In addition, look at the online resources that are available to students.

When it comes to computer facilities, newer is better. Schools should offer media labs with the latest presentation and office software available. Computer facilities are often housed in libraries, so information can be found by browsing the library site. Schools with new media labs tend to give lots of information about their technology to exhibit their strengths. Pay attention to computer to student ratios and lab hours.