Real Estate Industry Profile

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Real Estate Industry Profile

• By, Ms. Bentivegna
• Centereach High School

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Real Estate Industry Overview

• The industry involves the
• Buying and Selling,
• Renting and Leasing,
• Management of Commercial, Residential,
• Agricultural, and other kinds of property
• Including all the functions that support such
  activity, such as appraising and financing.

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Job Outlook

• The real estate industry has been doing quite
  well, with many leading firms chalking up
  double-digit top-line growth in 2003.
• Residential side of real estate is doing the
  best.

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Who does well?

• You should have aspects of the following
• Good people skills - build relationships
• Project management skills
• Entrepreneurial skills
• Leadership skills
• Should be ambitious and work independently
• Know zoning laws and regulations

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Career Tracks

• Agents and brokers bring buyers and sellers
  together, in the sale of properties.
• 1. Residential (houses or condos)
• 2. Commercial (offices or retail space)
• Property managers maintain investment property
  for owners, overseeing a property's everyday
  operations, whether it's a commercial,
  industrial, or residential building.

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Career Tracks

• Developers and asset managers invest in and
  improve land.
• Real estate developers specialize in residential
  or commercial property development, from buying
  land to constructing the buildings.
• In-house real estate specialists are employed by
  franchise and chain businesses, such as fast-food
  restaurants, grocery stores, and retail chains,
  to select and develop new properties.

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How much can I make??

• Performance based compensation
• You sell You succeed
• Commissions are typically 6 percent, split
  between the buying and selling agent

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Other Careers in Real Estate

• Real Estate Lease Administrator 50-60K
• Reconcile disputed accounts and work with legal
  department on any disputes, Analyze all lease
  related billings from Landlords amendment,
  exhibit or legal document associated with the
  premises
• Commercial Real Estate Appraisers 50K
• Strong analytical, writing and oral communication
  skills are required. Excellent PC skills
  required, A Bachelor's degree in accounting,
  finance or business preferred.
• Senior Real Estate Investment Accountants To
  85KReal estate and investment accounting, asset
  management, foreign currencies, NAV, IRR
  calculations, analysis and special projects.
• Lease Administrator/Accountant To 65KCommercial
  and residential lease administration experience,
  billing, escalations, general accounting and
  special projects.
• Rent Collections Specialist To 55KCollections
  and dispute resolutions collection and billing in
  commercial or estate billing a must.

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Love/Hate tips

• You have to be very driven and self-motivated
• Be very efficient with your time
• Independent worker set up your own hours.
• Hate no stable salary usually based on
  commission depending on the position.

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Courses you should take in HS

• There are many aspects to real estate. Having a
  well rounded education in the liberal arts and
  business will be beneficial to this career.
• You can choose to go to a 2 or 4 year liberal
  arts college or many business offer free seminar
  training. The choice is yours depending on your
  interests.

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Local employers

• For Sale By Owner 4949 Nesconset Hwy, Port
  Jefferson Station, [phone]
• Kella, B - Confidential Business Brokers 1031
  Main St, Port Jefferson, [phone]
• National Homesellers Inc 65 Centereach Mall,
  Centereach, [phone]
• Zysman, Warren - Centereach Mgt Group 47 S
  Coleman Rd, Centereach, [phone]

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Two year college

• Suffolk Community College
• Home Page
• http//www3.sunysuffolk.edu
• Courses offered http//www3.sunysuffolk.edu/Cour
  ses/msol.asp

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Four year college

• SUNY - Stony Brook University
• Home Page http//www.sunysb.edu
• Majors and Minors http//www.stonybrook.edu/ugad
  missions/programs.htm

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How do I get hired?

• Call all the big brokerage firms and ask to speak
  to the manager.
• Be extremely enthusiastic and interested in the
  profession and see where it leads.
• Ask about any mentor programs or internships
  where you can work under a broker.
• Look in the newspaper and online for local
  listings on training seminars
• continued..

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Current list of companies hiring in New York

• Century 21
• Coldwell Banker
• General Electric
• Foxtons
• MTA
• Better Living Properties
• Domain Properties
• Jones Lang LaSalle
• Gursky Partners, LLP
• Reis, Inc.
• TIAA-CREF

• NYU Medical Center
• Ajilon Office
• NBTY Inc.
• Washington Mutual
• Coldwell Banker Commercial
• Ameriquest Mortgage
• Realty Data Corp.
• Citi Cards
• GreenPoint Financial
• US Remodelers, Inc.