So You Want to Be in Real Estate
Filed Under Business
Maybe you’ve decided that you want to be a building inspector, but don’t know how to go about it, or you’re interested in the real estate field but don’t know what area to go in to. When people think about those in the real estate business, their first thought is “real estate agent”. There are many different areas of the real estate business, however, and many different courses that one can take.
Mortgage Agent - works for the borrower, searching for the best lender at the best price.
Mortgage agent courses cover the documentation, processing and regulation of residential mortgage lending. Some of the things that you would learn in the process of becoming a mortgage agent are the different types of mortgage loans, how to pre-qualify a borrower, loan documentation and underwriting standards, to name a few.
Home Structural Inspector – generally works for the home buyer, providing home structural inspection and advice on what it would cost to fix, and what needs to be done to fix, the structural problems.
Although there is some academic learning, a lot of inspector training is done in the field. The student goes along with a qualified building inspector, learning how – and what – to inspect. Some of the things a student might look at include driveway and walkway integrity, the surface of the roof for an estimate of how much longer it will last, the condition of windows and gutters, and the structural integrity of the home and foundation.
Real Estate Appraiser – can work for the state or as an independent. Appraisers are considered specialists in the estimated value of real property (land, buildings, and natural resources).
Generally, these courses cover appraisal procedures, principles, uniform standards of a professional appraisal practice, and appraisal law for the appropriate state. Some learning institutes offer optional practical sessions, where the student completes their own observation appraisals to put what they’ve learned into practice.
Real Estate Agent – works for both the buyer and the seller, making the transfer of real estate much easier by working with the lenders, home inspectors, pest control operators and title or escrow companies. Agents can focus on one particular area, from apartment buildings to commercial or farm property.
As with most areas of real estate, an agent must be licensed to be in business. Some of the courses you might have to take include real estate principles, real estate practice, property management, and the legal aspects of real estate.
No matter what area of real estate you decide to enter, be it mortgage or structural inspection, most involve some form of internship, as well as college courses. Though the needed courses are generally shorter than say, if you were getting a bachelor degree, they are still intensive. To keep yourself from wasting time on an area you aren’t interested in, do your research before jumping in - make sure you’re picking the right area for you!
