Real Estate and Property

The Real Estate & Property Industry includes the buying and selling of land as well as renting, leasing and management of properties. The industry deals with residential, commercial, agricultural and rural property. The field offers many career opportunities associated with buying and selling the land, appraising property and financing loans. While the real estate and property industry was heavily affected by the economic recession, professionals can still find worthwhile and gratifying careers in the field.

Careers in the field include real estate agents, residential or commercial, who work on behalf of clients and set selling prices, make offers and negotiate buying and selling activities and obtain financing; land economists and valuers appraise the value of land and property as well as commercial areas. They may also offer guidance on the most lucrative and beneficial uses of land and property. Property managers oversee and lease property used for commercial or residential purposes on behalf of owners or clients, and inspectors inspect and enforce standards and regulations set forth by governments involving buildings and property.

Individuals seeking a career in real estate and property can benefit from having an educational background in business administration or particularly real estate, or real estate training programs. Many areas require real estate agents to obtain a license by a certified board before practicing. Professionals in real estate and property may work for large real estate companies, privately on behalf of property owners or for governmental bodies.

Many careers in the field offer flexibility, developing schedules according to meetings, appraisals and paperwork needed. Individuals who are very ambitious and self-motivated as well as those who enjoy talking to clients and flexibility will enjoy a career in real estate and property. Careers in the field may be commission-based, meaning that workers are paid according to the sales of property and clients they serve. This allows the possibility of high earning potential but can also make wages inconsistent if work is slow.

Related degrees

Related degrees

Careers in Real estate and property

Auctioneers and Stock and Station Agents

Auctioneers, and Stock and Station Agents facilitate the purchase and sale of livestock and sell property at auctions. They may represent farmers and set up business dealings. They should be business savvy and have strong communication skills.

Land Economists and Valuers

Land Economists and Valuers appraise the value of land and property as well as commercial property and artwork. They may also offer guidance on the most lucrative and beneficial uses of land and property. Land Economists and Valuers should have strong knowledge of market prices of land and objects and stay updated on emerging changes.

Property Managers

Property Managers oversee and lease property used for commercial or residential purposes. They may also offer guidance on the most lucrative and beneficial uses of land and property. Property Managers should be aware of market prices, land development and strong organisational skills.

Real Estate Sales Agents

Real Estate Agents show properties on the market and negotiate the sales and leases of those properties. They are actively involved in salesmanship and persuasion and also the administrative details of brokering a sale.

Sales Agents Real Estate

Real estate Sales Agents are responsible for the selling of a range of properties, including homes, commercial property, land and more. Real estate sales agents also handle leasing arrangements on properties.

Stock and Station Agents

Stock and Station Agents serve the agricultural community. They advise and represent farmers in business transactions pertaining to livestock, wool, fertiliser, farm equipment and rural property.

Valuers

Land Economists and Valuers assess the value of land and property, as well as smaller personal items like antiques or works of art. They also advise clients on the upkeep, administration, and use of land.

Professional associations and industry bodies

Australian Property Institute

Real Estate Institute of Australia 

Real Estate Institute of New South Wales 

Real Estate Institute of Northern Territory 

Real Estate Institute of Queensland 

Real Estate Institute of South Australia 

Real Estate Institute of Tasmania 

Real Estate Institute of Victoria 

Real Estate Institute of the ACT 

Strata Community Australia (SCA) 

The Real Estate Institute of Western Australia

Skills and personality

  • Ambition for buying and selling property and ensuring satisfaction with clients
  • Analytical and perception skills to identify the most important concerns for homeowners or clients looking for residences or land
  • Enjoy building relationships with people and helping homeowners or business owners sell their property and find the perfect new property
  • Excellent communication skills to work well with clients and explain financing options in a clear and cohesive manner
  • Exceptional customer service and sales abilities working with clients wanting to buy or sell real estate
  • Highly organised and able to multi-task maintaining different client files and handle various tasks
  • Knowledge and comprehension of real estate and land brokerage laws and stipulations
  • Organisation and coordination skills working with multiple clients, professionals in the field and stakeholders
  • Problem solving abilities working through problems with properties and discussing reserves customers have about properties or finances
  • Research real estate market prices and stay up-to-date on market changes and available real estate