Real Estate Careers Outlook
The real estate industry is subject to fluctuations of the economy. Low interest rates encourage people to seek mortgages and buy property, which stimulates the real estate industry. The real estate market can be strong in some parts of the country and weak in other parts of the country. Often, an area will be strong for a certain amount of time, followed by a decrease in the number of real estate transactions.
The U.S. Department of Labor indicates that employment for real estate agents and brokers will grow about as fast as the average through 2014. Technology is improving the productivity of agents and brokers. Real estate companies and sellers are making more information available on the Internet and agents are able to serve a much larger number of customers. The use of advanced technology is likely to discourage part-time and temporary real estate work because of the investment costs and the competition with full-time workers.
There is a trend among real estate customers to want more of a partnership with their agents instead of turning over all aspects of transactions to their agents. Agents who are willing to be flexible in how they serve clients will be more successful.
Opportunities should be good for property managers as the number of apartments increases and more new homes are increasingly being organized with community or homeowner associations that require professional management to provide community services and oversee jointly owned common areas.
Related Career Fields:
Related Career Cluster:
- Assessors and Appraisers
- Insurance Policy Processing Workers
- Insurance Underwriters
- Property and Casualty Insurance Agents and Brokers
- Property and Real Estate Managers
- Real Estate Agents and Brokers
- Real Estate Developers
- Risk Managers
- Title Searchers and Examiners
For More Information:
- American Land Title Association
- Appraisal Institute
- Institute of Real Estate Management
- National Association of Realtors
- Society of Industrial and Office Realtors