Build a budding career

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Build a budding career

Wednesday, 09 September 2020 | rajat goel

Build a budding career

A career in the real estate sector is not only about being real estate agents. There are many opportunities for a person who is willing to challenge himself to have a career in the dynamic sector like this, says rajat goel

Before selecting the real estate sector as a career option, it is a must to understand that a career in this sector would be exciting, demanding, and monetarily rewarding. On the other hand, it must be clear in the mind that the career in the real estate sector is not only about being real estate agents. There are many opportunities for a person who is willing to challenge himself to have a career in the dynamic sector like real estate. The main thing is the hard work which is required for the profession.

While being a residential realty consultant/associate is one of the known career options in this sector, it is by no means the only one. There is no denying that most of the high-profile career options in this sector comprise buying and selling residential projects, but the sector has depth, and there are various jobs available here.

Being a real estate investor is one of the opportunities in the Indian realty sector. Investor in real estate is one who buys and modernises a property either for selling or renting purposes. Active and passive are the two ways to be a realty investor. One can decide to be an active investor as your classic “house flipper.” A passive investor is one who invests in a real estate project without interfering in the daily management of a project. Even if one doesn't have much money to invest, then he/she can still become an investor in crowdfunded real estate investing.

The second opportunity is a property manager. A major role is to maintain property rentals by advertising & filling vacancies, settling, and imposing leases, and securing the premises. Besides, a project manager has certain other roles including rent responsibilities, attracting tenants, screening tenants, good knowledge of landlord-tenant Laws, maintenance & repair of the property, and managing the budget & maintaining financial records. Some brands outsource the project managers depending on the size of the property and their requirements.

Another opportunity in the real estate sector is leasing consultants whose responsibility is to present residential property including flats, apartments, villas, etc to the potential clients in an effective manner. Another role is to assist residential landlords in finding out suitable and reliable tenants. Encouraging unoccupied properties through different tools including media and advertising is also a key role of a leasing consultant.

 Commercial leasing managers are often assigned to office space or storefronts and are also considered as one of the career options in the real estate sector. He is responsible to keep an eye and study changes in the marketplace that can have an impact on the budgets that a particular business has for various property needs.

A foreclosure professional can be appointed either by a bank or private lender for handling the required documentation and processes. The foreclosure professional is responsible to review the client’s financial statements and process foreclosure cases so the property can be resold as quickly as possible. Such consultants must be organised and capable to finish the work in a fixed time frame.

A Real estate attorney is also an opportunity in this sector. An experienced real estate attorney prepares and carefully checks the documents including purchase agreements, mortgage documents, and transfer documents.

Many organisations appoint corporate real estate managers for handling and executing daily operational activities of commercial properties. Their major role is to respond to customer service queries, process customer work orders, needs, and requirements.

Maximum companies hire corporate communication professionals to handle operational activities related to public relations, advertising, social media, content development, and crisis management.

The Indian real estate sector is so much more than residential real estate. It is surrounded with great career opportunities that require different strengths.

The writer is Joint Managing Director, MRG World

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