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Bright Future

The Occupational Outlook Handbook sees a bright future for property managers and says that the market will increasingly call for persons with a degree in business. The office building market, in particular, is expected to boom through 2005 due to growth in the service sector of the economy.

Experience in real estate is key.

Do everything you can to obtain investing and property management background, whether it be by taking an unpaid internship, managing some properties or making a few small investments of your own.

REITs are hot.

The 1990s have seen a large rise in real estate financings to the public through Real Estate Investment Trusts (REITs). These trusts work like mutual funds and hold property. The REIT boom is unlikely to continue over the next decade but this sector hould continue to offer good job opportunities for real estate analysts.

Negotiation Skills are Crucial.

A key skill in real estate is the ability to negotiate win-win contracts. Develop negotiating skills now and you will definitely see a pay off later.

Technology is becoming much more important in real estate.

Those who know how to develop products which use digitized photographs and video will have an advantage in the future because they can take properties to the customer as opposed to having to take the customer to the properties.

Get Certified.

Certification is important, and often required, of real estate professionals. Contact the National Association of Realtors at (312) 329-8449 for more information. Key designations include Certified Commerical Investment Member (CCIM), Certified International Property Specialist (CIPS), Certified Property Manager (CPM), Certified Real Estate Brokerage Manager (CRB), Certified Resid ential Specialist (CRS). Resident al Accredited Appraiser (RAA).