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REAL ESTATE MANAGEMENT-CAREER INFORMATION SUMMARY
WHAT IS REAL ESTATE MANAGEMENT AND WHO IS A REAL ESTATE MANAGER?
Real Estate Management is the business of managing land and buildings, including activities such as keeping buildings in good condition and organizing the renting of property.
A real estate agent/officer/manager is a person who studied real estate management at college or university in Zambia or abroad. He or she is a specialist in selling and renting out buildings and land for clients. They oversee the operational aspects of commercial and residential properties and are responsible for maintaining the premises and increasing their value. Some managers may provide services for multiple buildings or locations.
WHERE DO REAL ESTATE MANAGERS WORK?
In Zambia real estate agents/officers/managers work for privately owned Zambian real estate companies registered under the Registration of Companies Act of Zambia. There are many Real estate companies in Zambia where graduates of real estate management can work like the following: Blackwell Consulting Allianz (BCA) Investments Limited situated in Northmead Lusaka. Maroon Estates Limited situated in Chalala-New Kasama, Lusaka, Pikimont Properties situated in Lusaka. I M Malama And Co Ltd Situated along BUTEKO AVE, Ndola, HOMENET ZAMBIA Zambian Property Specialists, Horizon Properties Real estate agency, Pam Golding Properties Real estate, Oak Tree Real Estate Zambia, Sherwood Greene Properties Real estate agency Mukuba Pension Lusaka, The Property Shop Real estate agency, Goldcrest Properties Limited, Homes Platinum Real Estate Lusaka. And other many unmentioned real estate companies that have a hearted aim of bringing professionalism to the real estate sector in Zambia. Most of them are situated in Lusaka and on the Copperbelt.
A bachelor’s degree in real estate management can also make you work anywhere including in government and other private sector companies.
WHAT TASKS ARE INVOLVED IN THE WORK?
The tasks for real estate agents/managers are similar in all companies. The job requires the development of skills in many different areas. For example, real estate agents/officers/managers need to understand the details of property transactions, as well as finance, government regulations and local and state tax structures. On any given day, a real estate manager might do research on property values, create plans for property development, ensure analysis is done on whether a certain development idea will be profitable, assess the risk of large-scale property investments, inspect a property in person, bring together different investors on property deals.
They also have a different type of tasks depending on the scope of their position, they might meet with potential new renters, manage property repairs and negotiate contracts with landscapers, trash removal companies and other services. Property managers also work often in areas such as Lusaka, Copperbelt and other places in Zambia. They often are hired by out-of-town clients to manage a property. They may also work in larger cities with more rental properties that are bought as investments by owners. In either case, those who work as real estate managers and property managers will deal with issues such as leasing contracts, sales, marketing and the financial end of leasing or developing property. In addition to these business tasks, real estate managers require expertise in appraising and evaluating the worth of a property.
WHAT IS THE WORK SCHEDULE OF A REAL ESTATE MANAGER?
Real estate managers work out of an office, the office is only needed for paper work, they spend much of their time in the field. They make onsite visits to assess the value of a property. They meet with clients to talk about the marketing and sale of their property, or the potential for development. They also meet with potential buyers, as well as representatives from insurance companies, construction companies, staffing companies, permitting agencies, property title agencies and more. This is all out of office and they even work on the weekend and public holidays.
WHAT DOES THE JOB MARKET LOOK LIKE?
In Zambia, opportunities for property, real estate and community association agents/managers across the country are expected to grow, due to the expansion of residential and commercial properties. This means demand for real estate agents is increasing. Aside from that most graduates of bachelor’s degree in real estate management can find jobs in any other business companies and in government department, this is because a degree in any field of study a mind opener that can get you a job anywhere. And most graduates of real estate managements become self-employed.
WHAT SORT OF CAREER-PERSONALITY MATCH IS REQUIRED?
To enjoy working as a real estate manager in Zambia, you need to be someone with high-level finance and business strategy skills. So-called “soft skills” are also important, as real estate agent/managers deal with many different people daily. The ability to negotiate also is critical. For property managers, managing outside workers such as landscaping companies and maintenance workers requires advanced managerial skills. Time management also proves critical for real estate managers. Often faced with juggling several development projects at once as well as dealing with many different people within each project. Real estate agents/managers must develop the time management skills to properly handle their day-to-day tasks.
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WHAT SUBJECTS WILL THE PROGRAM COVER?
Subjects covered during the course of study include Built Environment, Introduction to Economics, Introduction to Physical and Human Geography, Construction and Services, Land Economics, Land Information Systems, Principles of Management, Mathematics of Finance, Real Estate Information Systems, Business Finance, Law of Contract and Torts, Principles of Valuation, Financial Accounting, Real Property Law, Introduction to Intellectual Property Rights, Housing Economics & Policies, Land Policy and Development, and Applied Valuation among others.
WHAT ARE THE ENTRY REQUIREMENTS?
To qualify for this program, you need to have (5) Ordinary levels including Mathematics and English.
WHAT OTHER PROGRAMS OF STUDY CAN MAKE SOMEONE A REAL ESTATE MANAGER
While it is possible to enter the field with a secondary school certificate, some employers may prefer candidates with a bachelor's degree in a relevant field of study, such as business administration or facility management or finance.
WHAT ARE THE FUTURE ADVANCED QUALIFICATIONS AVAILABLE AND WHY?
Most employers prefer applicants to have a bachelor's degree in real estate, finance or business administration. Managers often receive on-the-job training, including how to operate and repair any machines or equipment located on the premises. For this reason advancing your qualification with an MBA can put graduates into a good position to succeed in property management or real estate management. An MBA provides graduates with expertise in business strategy, risk analysis and practical application of economic theory. All of these can help a real estate agent/manager succeed in putting together complex business deals involving property development.
A master’s degree gives you an upper hand when it comes to finding new jobs that are not even related to real estate management in competitive environments in Zambia especially abroad. It’s a sign that apart from general skills, you have taken keen interest to master one area of your job more than other people. With a master’s degree one would become a university lecturer as well.
INSTITUTIONS THAT OFFER REAL ESTATE MANAGEMENT
COPPERBELT UNIVERSITY
Programme duration: 5 years (Degree) / 2 years (Master's)
Mode of study: Full-time and Part-time
Admitting school: School of Built Environment
Intakes: January
Location: Kitwe
Contacts
Tel: +260 212 290816 / +260 212 290817 / +260 212 290815
E-mail: academicoffice@cbu.ac.zm
Website: www.cbu.ac.zm/fees/
UNIVERSITY OF LUSAKA
Programme duration: 4 years Degree
Mode of study: Full-time and Part-time
Admitting school: School of Business
Intakes: January and July
Location: Lusaka
Contacts
Tel: +260 211 258505 / +260 962 127952 / +260 976 075850
E-mail: academic@unilus.ca..zm
Website: www.unilus.ac.zm/fees.php