General Question

lawdaddy's avatar

What is the the best entry-level real estate job for an upcoming college graduate?

Asked by lawdaddy (24points) December 30th, 2008

I am currently a student at Union College, a private liberal arts college located in Schenectady, New York, and will complete my BA in Sociology in May 2009. I have some commercial and residential brokerage experience.

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13 Answers

Mizuki's avatar

I just read an article on Inman saying that ranks of real estate staff will thin between 20%-40% by 2010. Real estate folks are dropping out of the busniess in numbers not seen since the 1970’s. Residential real estate has collapsed, and commercial will collapse in the next 6 months, we are seeing that already on some makest. The Case Shiller index showed an 18% yoy drop in residential home values.

You may be able to use your skill with a loan modification company, or a company that sells foreclosures, or does collection on defaulted 2nd mortgages—Chase.

This would be the worst time ever to try and get into real estate and lending—a time when top people with 20+ yrs of experience are being downsized and laid off. Try health care or education, or check our working for the Gov. Good luck.

Judi's avatar

An agent or property manager. Choose one because they are two different personalities. I tried both and I am a property manager all the way.

Mizuki's avatar

Just make sure you don’t get on as a commercial property manager, unless you want to be like the Maytag Repair man.

Mizuki's avatar

Commercial vacancy rates are at levels us seen since the 1980’s. But are you not in TX Judi, where the market has been less affected by the downturn?

Arizona’s commercial buildings are around 50–60% empty, and there are hundreds of new office space unused, and un rented.

Remember the matag repair man?

Judi's avatar

The nice thing about property management is that you get a paycheck weather or not they’re occupied. Commercial Real Estate Managers get paid more than Residential. Commercial leasing people may be hurting, but property managers are still getting paid. (Especially on an entry level basis.) The company may get paid based on a percentage of the collected rent and may not be hiring as much as they used to, but if you’re in, you are alright. (I’m in California btw.)
Here’s info in IREM the leading Property Manager trade organization.

Mizuki's avatar

I didn’t know that…..GA

Judi's avatar

@Mizuki ;
Now that’s depressing!

Mizuki's avatar

The Fed said it, not me….

Response moderated
realsolutions's avatar

Rather than get into a potentially risky profession during this kind of market, you might try going in through a ‘side door’ of sorts. One way would be to start a blog, usually a local focus is best to begin with, and offer information that you’ve researched about the local market, business climate, social trends, etc.You can interview local agents, maybe even highlighting one every now and then. If you establish a readership among buyers, sellers, owners, property managers, etc., realtors (plus retailers like hardware stores) might purchase ad space on the blog. Regardless, though, you’ll have insights to the industry and make a lot of valuable contacts should you want to enter in a different capacity after the market rebounds.

MerMaidBlu's avatar

You probably know that the real estate information you received in school hasn’t taught you anything about real estate…per say.

I would suggest a leasing position. You learn the basics about the industry and it can help you find your angle.

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