WUP 28/1/2014 - A Bachelor in Real Estate Management - Though the recession has taken a heavy toll on property markets the past few years, the industry is slowly regaining its strength and a career in real estate can still be a very lucrative and fulfilling path and once more students are choosing to study real estate management in the Netherlands.
When Wittenborg University was founded in 1987, Real Estate Management was one of its core programmes, and today Wittenborg offers a Bachelor degree in International Business Administration with a pathway in Real Estate Management that provides students with a working knowledge about the industry. Generally real estate agents (or realtors, as they are sometimes called) lease, manage, value, buy and sell residential, commercial and industrial property or businesses on behalf of their clients. To be successful requires dedication, professionalism and a real commitment to excellent customer service.
At Wittenborg IBA Real Estate Bachelor students learn about the relationship between property, insurance and tax, the management of property, loans and mortgage valuations, the buying and selling procedures in various countries and much more. Some of the career paths in the real estate industry IBA students can look forward to include:
the Property Manager: Property managers lease and manage retail, residential, commercial and industrial properties on behalf of the owners. For instance, large corporations or government departments often contract property managers to look after the housing needs of their employees or to provide space for business outlets. Like a realtor, the property manager is involved with the selection of tenants, drawing up lease agreements, advising on rent, collecting the rent, maintaining the property and administers repairs.
the Body Corporate Manager - The body corporate manager’s role is usually to manage the “common area” of a subdivided building such as a block of flats on behalf of all the owners. He or she gets instructions from the body corporate committee and tasks include scheduling meetings, advice on the funds needed to maintain the building and gardens, ensure appropriate insurance is in place and make sure bills such as water and electricity are paid. The body corporate manager also advises on new legislation or municipal regulations that might affect the property.
the Auctioneer - Auctioneers conduct public auctions - usually on the site of the property. However, their responsibility extends far beyond merely conducting an auction. It includes evaluating the property, gathering information and photos for the catalogue (a brochure describing the property and other information such as viewing times and conditions of sale), advertising the auction, taking bids, announcing the outcome of the auction and oversee final signing of the contract.
the Buyer’s agent - A buyer’s agent is a real estate consultant who works exclusively for buyers, representing their best interest when purchasing property. The agent will advise the buyer on current market conditions, research property in the area of the buyer’s interest, sort through listings and make suggestions that corresponds with the client’s needs. They also handle the negotiation process and are present at the closing of a property deal.
by Anesca Smith
©Wittenborg University Press