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So like many of my fellow architect family and friends, I am out of work in the architecture field. (but thank God i have a job working in construction estimating). Also like many of you, i have been spending my time beefing up the revit / rendering skill set, padding the resume, working on my A.R.E. and considering other income generating ideas (unsuccessful so far). So i was thinking should i pursue a Real estate lic., and how lucrative would that be to an employer in the future or my self as a matter of fact?
Thanks in advance
the RE market is tough right now. Alot of investors and very little inventory. I did RE years ago. It can be a very lucrative field if you are in the right market. Employers, from my limited experiance, appreciate any extra knowledge you can bring to the table. It will help. maybe not much, but it will help you stand out a bit, especially if you work for a residential firm.
The only downside is that the classes are kinda expensive. I remember spending around 4k in total.
Interesting topic. Was wondering the same thing. I work as an Architect now and focus mainly on the commercial sector. With working and also doing some research the commercial real estate market is doing great in key areas of the country. I"m thinking about joining CCIM institute for courses and networking and getting the RE license. I think the RE license plus having knowledge in financial modeling and marketing will put you (and me) in a better situation and make you a well rounded Architect, Contractor, Project Manager, Real Estate Associate etc...........
sure it will add to your repertoire, give you an upper hand and better understanding in the industry for future work prospects. Although if your plan is to go work in the real estate industry, I don't know how much or if the architecture background might help you move ahead of the others. I think this industry is a lot like sales - you need to be able to talk, bs, and have good looks or else you'll be eaten alive xD
I have thought of pursuing a real estate license myself and may do it in the future though. Not because I want to quit architecture and work in the real estate industry, but more because I could build my own custom homes someday and have a good grasp of the real estate industry so I don't need a middle man.
I think its good to pursue the real estate license now; the properties industries are booming and more demanding nowadays. So, if we have the special skills to carry out the process in style, then without any doubt go forward with the right thinking about the real estate opportunities.
Thanks from iGroup SoHo
I think this industry is a lot like sales - you need to be able to talk, bs, and have good looks or else you'll be eaten alive
I'm glad someone said this, though eaten alive is an exaggeration. If you're an architect, or studied it, you might be frustrated by working in real estate, mostly by other realtors and the style of the business. There is no road block to entry. Many know little about construction and design, and they are all about glibness and looks. Look at the throw-away magazines and their ads. Many showcase their looks, especially in urban areas. Sure, you can make some kind of a living and I know some people who have been realtors for a long time (usually they focus on a market segment, like a Hispanic or Persian clientele, for example, and do ok). The ultimate in shallow is the commercial sector - it's typically a finance grad who partied hard, looks a certain way, and was in a fraternity. If you ever see a publication for a local office of a commercial firm, they look like clones of each other. It's a hotbed of conformity. I'm real clean cut, but I find their conformist packaging annoying. You could do it, hang your shingle in a low-key residential office that isn't hyped, and build up a clientele. A couple of years after college, I signed up for a real estate license course. I stayed through the first session and never went back. My dad had paid for it and was pissed at me. Maybe he should have gone to the first session ... and looked around.
after passing the licensing one must find a broker who will hire you and then then one must pay national dues, state and county dues and multilist memberhip which has a monthly fee. other upfront costs, business cards, virtual tours, wardrobe, lockbox key and a reliable and nice enough vehicle to carry people with full coverage insurance plus one must carry errors and omissions insurance. it adds up quickly.
Lawyers, developers, car salesmen and real estate brokers are all at the very bottom when it comes to integrity. If all you care about is money, you'll be in good company.
i think it would do everyone good to read up on appraisal and learn how your design choices actually affect the value of the building you're designing.
^ Varies by market. On the East End it's all about land value. Houses are essentially disposable.
yeah, but you know what i'm talking about
unless you want to dedicate 2-5 years building a clientele base where you earn enough commisions to get close to a decent salary, its not worth it. As for as having an advantage of over other potential applicants for jobs... in architecture not really. Knowing what you legally have to disclose to potential buyers to a residential property and knowing how to "puff" a living room doesnt do much. In commerical real estate, the buyers/sellers are typically sophfiscated / experienced enough to know just as much if not probably more.