People are always looking for career opportunities that are beneficial to their financial needs and provide satisfactory growth aspects. It is hard to determine what career choice fits your requirements unless you have the right motivation towards a specific kind of field. It all drops down to your interests, the kind of skills you have, and the goals you have lined up for your future.
Real estate, is one of the most highly profitable careers and if you have the knowledge for it than it can basically become the ultimate key to supporting your financial needs.
Pursuing real estate as a career in Pakistan can be a bit challenging and rewarding at the same time. However, when picking real estate as a career, you need to be certain about the segment or division you pick because there are different and unique opportunities for individuals who want to pursue a career in this field. For instance, you could become an agent or dealer, open your own real estate firm or become a realty investor.
In terms of real estate and the real estate industry, one can easily come to identify how big the market is actually and what an individual can make out of it. Let’s take real estate industry’s different segments as an example; you could choose to work with residential properties or perhaps you could be more interested in commercial properties.
There isn’t a rule in the books of real estate that one could only pursue a particular segment like either commercial or residential, but in fact the agencies you normally see in your areas all deal in multiple projects concerning residential and commercial as well.
As long as you have the market understanding, it would not matter if you bring on the big guns and deal commercial and residential together. All you need is to make sure that you meet the requirements of this field, research the market before you enter, and are prepared for hard work. Here are some of the highlighted points to help you figure if real estate is the right choice for you.
Prerequisites to Real Estate Career
Granting that, there is no prominent institutions in Pakistan that offers education for real estate or crash courses covering the realty sector; there is an institute located in Karachi, which goes by the name of Pakistan Institute of Real Estate Management (PIREM). This institute focuses on the real estate-based expertise, offering students with all the relevant courses and knowledge as well as certificates and diplomas in real estate management and construction.
Being a Real Estate Broker
A real estate broker is a self-employed individual who has the market understanding, and the sufficient business knowledge about how real estate and market works. Hence, getting a Master’s degree in business administration might just come in handy.
However, MBA is not mandatory as any degree that provides you a market understanding could result in a better grasp of how the real estate work. It is vital that along with a fine grip in business knowledge, acquiring practical market experience is imperious for a real estate agent to excel.
A real estate broker should get enough practical experience, which is gained when you actually start working in the market. For starters and beginners, it is advisable to work under an established real estate agency either as an employee or trainee. Once you have acquired understanding on how the real estate industry rolls, you can start up your own line. That’s possible if you already have enough capital to start a firm, if not then you can continue earning and learning until you have enough dough and knowledge to do so.
Establishing your own property agency can be beneficial, once you have acquired enough knowledge and experience on the real estate world and when you are stable enough to start your own set-up. However, if you have enough capital to buy a property in a hot location with high prospects of ROI, then, you will find that there are easier ways to go about it. If you research a bit, you will come to find about online property portals, where they have made it easier for you to add a property listing if you have a land which you want to sell.
These property portals make it easy for people to buy and sell property in Pakistan and secure their investment. If you are choosing to go for the real estate and make a career out of it, that would require patience and a lot of market research, and of course a well-stacked capital. However, with patience, return will be exceptional.