Some College in Real Estate

Why would I want a real estate degree?

A degree in real estate may give you the skills and knowledge you need to work in an exciting industry that is constantly on the move and can provide you with a lucrative salary. Real estate is not for the faint of heart, though. It can be very competitive, and you have to be able to deal with stiff competition while running your own business. If you work well independently, thrive off of competition, and like being in the heart of big business, then a degree in real estate would be a good fit for you.

What do people with real estate degrees do?

The vast majority of people who earn real estate degrees go on to become real estate agents (also known as real estate salespeople or realtors) and real estate brokers. Real estate agents and brokers help people buy and sell real estate. Their responsibilities are quite similar. The biggest difference is that real estate brokers are able to own and/or manage a real estate firm. Although real estate agents also run their own businesses, they must work under the management or supervision of a licensed broker as independent contractors.

Real estate agents and brokers often times specialize in a particular area in real estate. Some of the most common specialties that agents and brokers go into are listed below.

• Residential Homes: This is the biggest sector of real estate specialties. Many people who are looking to buy or sell homes often times don’t even know where to start. Real estate professionals help these people through the process of buying or selling their homes.
• Residential Building Construction: The process of building a home is much different than the process of buying an existing home. Real estate professionals who specialize in home construction have in depth knowledge of the building process and they are able to help buyers make critical decisions when going through the building process.
• Commercial Real Estate: Buying and selling commercial real estate is a much different process than buying and selling homes. There is generally much more money involved, and real estate professionals in this area must be familiar with investment lingo, rules, and practices.
• Land Subdivisions: Some real estate agents specialize in buying and selling vacant lots which are zoned for building homes, sometimes known as subdivisions.
• Farms and Ranches: Real estate professionals in this specialty know the things that are important in buying and selling farms and ranches. This may include anything from grazing land to stables. What’s important to farmers and ranchers are much different than what’s important to people who are looking to purchase a home, and real estate professionals in this niche need to know what those things are.

How much do real estate professionals make?

According to the Bureau of Labor Statistics, the median salary for real estate agents in 2019 was $48,930. The lowest 10 percent earned less than $24,930, and the highest 10 percent earned more than $111,800.

The median salary for real estate brokers in 2019 was $59,720. The lowest 10 percent earned less than $23,600, and the highest 10 percent earned more than $178,720.

How popular are real estate jobs?

There will be a continued demand for real estate brokers and sales agents, because people turn to these workers when looking for a new home, relocating, or purchasing property for a business, among other reasons. Real estate agent and broker jobs are expected to grow by 2% through the year 2029, which is slower than the average growth rate among all jobs. The real estate market is highly sensitive to fluctuations in the economy, and employment of real estate brokers and agents will vary accordingly.

How do I become a real estate professional?

In order to become a real estate agent or broker, you must be a high school graduate and have the proper licenses, which are granted on a state level. As the real estate market becomes more competitive and complex, some employers are preferring to hire candidates with a college degree.

Bureau of Labor Statistics, 2020. Based on national data, not school-specific information. Conditions in your area may vary. https://www.bls.gov/ooh/sales/real-estate-brokers-and-sales-agents.htm. Visited 3/2021.