Realty as a Profession By Phoenix Fogarty Education

Realty as a Profession By: Phoenix Fogarty

Education • As a realtor, or any other person in this industry, no degree is required. Although, as Louise Frazier, Blue Ridge Realty executive, might add, a college degree could be of use to anyone hoping to pursue this career. The best advice she could give any up-andcoming realtor is to get a degree in business if the school does not offer specific realty courses. A main part of the job includes discussing sales with buyers, discovering business opportunities (particularly in a commercial realty firm), and managing money to further grow the business. These can all be learned through an education in business. • (Frazier, Louise. 15 December 2016. Personal Interview)

Licensure • To become a realtor or realty broker, there are many licensing technicalities and requirements. To qualify in the first place, in the state of TN, you must be at least 18 years old, be a resident of TN for at least 45 days, and have a GED. To begin your licensing journey, you must take a 60 hour Basic Principles of Real Estate course. Then you are eligible to take the state exam and pass with at least a 70%. After this you must complete a 30 hour New Affiliates course. Within six months of passing the state exam you must fill out a license application, pay $100, have a sponsoring broker sign license application, and have proof of E&O insurance. Once you are officially licensed and working as a real estate broker, you must complete 16 hours of state approved courses every 2 years as a part of continuing education. • (successrealestateschool. com)

Skill Needs • According to Louise Frazier, real estate executive, the most important skills to have in this industry revolve around being a hard-worker. Sometimes you have to stay long hours and accomplish more in a day than seems possible to meet deadlines and accurately complete necessary projects. You must be a gogetter in order to reach for opportunities and expand your business. You must also have a knowledge and skill set when it comes to technology and computers, as most work is completed in this fashion in this day and age. Finally, people skills are necessary to discuss properties with clients and business opportunities with other companies or executives. • (Frazier, Louise. 15 December 2016. Personal Interview. )

Future Trends • The realty business is constantly being shaped by changing economic situations and shifting demographics, including the habits and lifestyle patterns of baby boomers and millennials. Regardless of these trends, there will always be a high demand in realty (particularly commercial realty) because no matter what, everyone needs a place to live or run their businesses and there will always be land buildings available. Because of this, there will always be jobs in this career path that offer high job security. Additionally, salaries are commission based, offering the possibility to receive higher than a set salary in any given year. • (https: //www 2. deloitte. com/us/en/pages/real-estate/articles/commercial -real-estate-industry-outlook. html)

Progress Examples • Throughout my time at Blue Ridge, I went through many routine procedures to begin my day and work through various tasks and projects. Generally to start out my day I check my emails. The one picture requests me to print the rent roll and bank statements for two properties and file them in the correct binder.

Progress Examples • Every day, I did a few simple tasks such as answering the phones and printing and/or scanning documents for executives.

Progress Examples • In addition to my basic tasks, I would often be asked to mail and ship various items to other locations and businesses using the company address book and selecting the correct form of delivery.

Progress Examples • The biggest project I worked on for the majority of the semester was making new files with labels for each months bank statements, taxes, invoices, and bank documents for each property. I then transferred all the old files into boxes to be stored in the archives and replaced them with the files for the new year.

Works Cited • Frazier, Louise. 15 December 2016. Personal Interview • Meet Our Leader Robert T. O'Brien Global Real Estate Sector Leader Robrien@deloitte. com +1 312 486 2717. "2017 Commercial Real Estate Outlook | Deloitte US | Center for Financial Services. " Deloitte United States. Official Professional Services, 19 Dec. 2016. Web. 19 Dec. 2016. • "TN Real Estate License Information. " Tennessee Real Estate License: TN State Exams Information. Earn Your Real Estate License in Memphis from Success Real Estate Schools, 2016. Web. 16 Dec. 2016.