Real Estate

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Real Estate Urban Analysis

• Fisher College of Business
• Undergraduate Specialization

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Overview

• What is Real Estate Urban Analysis?
• Preparation for Real Estate Urban Analysis
• Real Estate Urban Analysis at Fisher
• Sample Job Titles and Descriptions
• Training Licensure
• Real Estate Urban Analysis Salaries Outlook
• Student and Professional Organizations
• International Opportunities
• Real Estate Urban Analysis (Finance) Department
  Contact Information

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What is Real Estate Urban Analysis?

• Real Estate Urban Analysis (REUA) is
• Managing, buying, selling and renting property
  residential and commercial
• Application of economic trends, business trends,
  zoning laws, financial services and knowledge of
  urban society to the needs of people and
  businesses who need to buy or sell property

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General Preparation for REUA

• A good high school background recommended in
• Mathematics
• Oral/written communication
• Computer experience
• The academic program of real estate is arranged
  in accordance with career interests within the
  general business background provided by College
  requirements
• Careers in sales, property management, or with a
  government agency require skills in the area of
  human relations
• In the areas of appraisal and development, the
  ability to identify and analyze problems is an
  important attribute

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Other REUA Preparation

• Real Estate students, in addition to receiving
  broad training in general business management and
  business finance, are encouraged to acquire an
  interdisciplinary background by taking courses in
  urban sociology, economic geography, and related
  areas
• Students specializing in real estate should be
  sensitive to the complexities of our urban
  society and be enabled to work productively
  within it

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Real Estate at Fisher

• Undergraduate Ranking
• 13th Nationally - U.S. News and World Report
  (2010)

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Real Estate Urban Analysis Curriculum

• Specific information about the Real Estate
  Urban Analysis Specialization can be found on the
  Fisher website under
• - Current Students
• - Undergraduate Students
• - Academics
• - Specializations
• There you will find a complete list requirements
  as downloadable pdf files

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Types of REUA Jobs

• Brokers (Realtors)
• In business for themselves manage a firm buy,
  sell, rent, manage or appraise residential,
  commercial, industrial, and/or farm and land
  properties
• Salespersons
• Employed by brokers sell and rent real estate
  for and to clients
• Appraisers
• Gather and evaluate all facts affecting the
  value of a property and giving an opinion of that
  value

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Types of REUA Jobs

• Property Managers
• Supervise every aspect of a propertys
  operation leasing, rent collection, tenant
  relations, building maintenance and repair,
  record keeping and advertising
• Land Developers
• Turn raw land into marketable subdivisions,
  shopping centers, industrial parks or other
  enterprises

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REUA Career Information

• Real estate has career opportunities extending
  beyond the business of real estate brokerage
• Opportunities for employment include commercial
  banks, savings and loan companies, insurance
  companies, mortgage bankers, and private
  appraisal and consulting firms
• Real estate building and subdividing
  organizations, property management firms, and
  brokerage offices also offer employment
• Many graduates eventually organize their own
  business in one of these fields

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Organizations That Hire in Real Estate

• Real estate firms
• Insurance companies
• Banks/other financial agencies
• Government agencies (Department of Housing and
  Urban Development)
• Tax assessors
• Mortgage companies
• Companies CitiBank, JPMorgan Chase, Marcus and
  Millichap, U.S. Dept of Housing and Urban,
  Franklin County Auditor, Development,
  LimitedBrands, Abbey Company

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Training/Licensure

• Background in finance, economics and psychology
  is good preparation courses in urban sociology,
  city planning and economic geography a plus
• A state license is required requirements for
  licensure vary from state to state but all
  require written exams
• Real Estate and Professional Licensing
  http//www.com.state.oh.us/ODOC/real/

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REUA Salary Information

• Pay scales are largely determined by individual
  qualifications and specific positions available,
  but are usually competitive with other
  professional business areas
• Experience indicates that those who remain in the
  same phase of the real estate business for more
  than five years can receive incomes considerably
  above average
• Salaries in government positions are determined
  by Civil Service ratings

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Other Real Estate Salary Information

• Average Salaries (2011-2012)
• Full-time 43,714
• Many real estate positions are
  commission-based agents usually split the
  commission 50 with the broker more experienced
  agents receive a higher commission.

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The Outlook for Specialization

• Real estate industry is inextricably linked to
  the economy, which runs in cycles
• US Bureau of Labor Statistics predicts
  slower-than-average growth in real estate sales
  and appraiser positions while property
  management is expected to grow as fast as average
• Must be competitive knowledgeable of new
  technologies
• The need is already great for persons in private
  firms and government agencies concerned with
  developing, appraising, financing, and
  merchandising residential housing, commercial
  properties, and industrial developments
• Career opportunities in real estate are expanded
  by the continued urbanization of our population
  and continued expansion of opportunities is
  expected

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Student Organizations

• Fisher Real Estate Society
• The Fisher Real Estate Society (FRES) is a
  student organization created to promote careers
  in the real estate industry and foster academic
  programming at the Fisher College of Business.
  FRES allows students to network with faculty,
  alumni, professionals and recruiters in the real
  estate industry.
• Undergraduate Finance Association
• American Marketing Association
• http//ama.org.ohio-state.edu
• /Pi Sigma Epsilon (Sales and Marketing)
• http//www.pseosu.com/

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Professional REUA Organizations

• Ohio Association of Realtors http//www.ohiorealt
  ors.com/
• National Association of Realtors
  http//www.realtor.com/
• Real Estate and Professional Licensing
  http//www.com.state.oh.us/ODOC/real/
• Institute of Real Estate Management (brochure on
  careers) http//www.irem.org/pdfs/iremfoundation/c
  info1.pdf

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Fisher International Opportunities

• Honors / Scholars trips
• Emerging Markets Field Study
• Student Exchange Programs
• International Internships (EUSA)
• Plus many more coordinated by OSUs Office of
  International Affairs.

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Study Abroad Exchange Contacts

• Fisher International Programs Office
• http//fisher.osu.edu/international/
• Office of International Affairs (OSU)
• http//oia.osu.edu/
• OIE has many other opportunities for business and
  non-business opportunities to supplement the
  Fisher curriculum

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Max M. Fisher College of Business

• Academic Department
• Finance
• Fisher College of Business
• 700 Fisher Hall 2100 Neil Ave
• Columbus, OH 43210-1144
• [phone]
• http//fisher.osu.edu/fin/finance.html

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Fisher logo

• fisher.osu.edu

http//fisher.osu.edu