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A Real Estate Broker is a person who acts as a connecting link between a buyer of a property and the seller of a property. He is responsible for arranging and negotiating deals between buyers and sellers. The Real Estate Industry in India is expected to grow upto USD 1 Trillion by 2030 and contribute a whopping 13% to the Indian economy. This is expected to create job opportunities for more than 75 Million job opportunities in India according to a report by India Today.
Candidates aspiring to become a real estate broker can take up various Real Estate courses at the certificate, Diploma, UG and PG Level. Some of the relevant courses for the career are BBA, BBA in Real Estate and Urban Infrastructure, MBA in Real Estate Management and many more.
Admission to these courses are done on the basis of merit list or entrance examination. Some of the top colleges offering these courses are LEAD Institute of Leadership, Entrepreneurship and Development, St. Xavier’s College Kolkata etc. The average fees of the course varies from INR 50,000 to INR 2 Lakh per annum.
There are many companies that hire Real Estate Brokers such as DLF, NCC, Oberoi Realty Ltd, Godrej Properties, Phoenix Mills Ltd.. The PayScale website pegs the average salary of a Real Estate Broker at INR 305,209 per annum.
- Real Estate Broker : Quick Facts
- What Does a Real Estate Broker Do
- Real Estate Broker: Steps to Become a Real Estate Broker
4.3 Brokers
4.4 Selling Agents
4.5 Buying Agents
5.1 How to Become a Real Estate Broker in India after 12th
6.1 B.B.A
6.2 MBA
7.1 How to become a Real Estate Broker in Australia
7.2 How to become a Real Estate Broker in UK
Real Estate Broker: Quick Facts
| Industry | Real Estate |
| Eligibility | Graduation in any Discipline with at least 50% in Graduation. |
| Average Starting Salary | INR 1,80,000 |
| Job Opportunity | Real Estate Consultant, Commercial Broker, Mortgage Specialist, Real Estate Agent. |
What Does a Real Estate Broker Do?
There are several functions and responsibilities that are performed by a Real Estate Broker, listed below are few of them for your reference,
- Listing homes for sale on various websites and local Multiple Listing Service
- Sharing Listing Commission with successful buyers
- Advising the home sellers in preparing their home for listing and showcasing
- Submitting various offers to sellers for consideration
- Helping the sellers negotiate offers to try and execute purchase contract with a buyer
Steps on How to Become a Real Estate Broker
Here are a few steps that every aspiring real estate broker can follow in India to have a successful career as a Real Estate Broker
Make Your Mind
Candidates who aspire to be a Real estate Broker should first research about the pros and cons of the career before taking up a profession. The candidates are required to research the present market condition to form an idea about the future market conditions and then make a decision. According to a report by India Today, the employment opportunity of real estate broker is expected to grow by 11% in the coming years
Choose the Correct Subjects
There is no set subject combination that can be taken up as by the aspiring real estate brokers. However, candidates can take up various management courses such as BBA and MBA after completing class 12th and Graduation respectively.
Choosing a specification such as BBA in Real Estate and Urban Infrastructure and MBA in Real Estate Management can help the candidates to have a better chance for employment in the future. Having a knowledge of Real Estate, Loans, and Mortgages, various types of properties, etc. can help a lot in becoming a Real Estate Broker.
Prepare for the Entrance Exam
Knowledge of Syllabus and subjects should be Top Priority to prepare for the Entrance Examinations.
Having the knowledge and understanding of the syllabus can help the candidates to prepare well for the entrance examinations. Basic knowledge of Apptitude, English, General Awareness and Mathematics is a must in order to crack any entrance exam.
How to get admission to a good college?
Selecting a good college is a cumbersome process as there are many colleges that offer the same courses but selecting a good college requires more than just courses. A good college is one which has a good placement record, alumni network, good regular faculties as well as visiting faculties, infrastructure, Facilities at campus, etc.
Candidates can look into the various agencies such as NIRF, India Today, The Week and many more to understand what are the top colleges in India in the following stream.
After Qualifying Exam
After qualifying particular entrance exams candidates are called for Group Discussion and Personal Interview. Group Discussion and Interview hold some weightage which is set by call and depends on college to college.
Scoring well in Group Discussions and Personal Interview along with scores in Entrance exams paves way for entry in that particular college.
Some colleges offer direct admissions to candidates on the basis of scores obtained in the entrance exam or the last qualifying exam. The admissions are offered Round wise and the rounds depend on the college.
Post Group Discussion/Personal Interview/ Merit Rounds candidates are called for document verification post in which they are allotted a seat in the college.
Types of Real Estate Brokers
A Real Estate Broker is a person who acts as a connecting link between a buyer of a property and a seller of property. He is responsible for arranging and negotiating deals between buyers and sellers.
There are many jobs that a Real Estate Agent does and can choose a career in the same professions some of which are Real Estate Consultant, Commercial Broker, Mortgage Specialist, Real Estate Agent.
Real Estate Consultant
Real Estate Consultant works as a medium of buying and selling property between buyer and seller. He is responsible for making deals successful. He keeps track of consumers and their needs and shows properties according to the buyer. He also looks after documentation and negotiation of the property.
Mortgage Specialist
A Mortgage specialist works as a middleman between buyers and senders. He makes arrangements for a hassle-free loan to buy a property. He/she finds the best mortgage properties for the buyers. The mortgage Specialist also arranges paperwork and passes that paperwork to the concerned authority.
Brokers
Brokers are Real Estate Agents who after obtaining Brokerage License crack a del between a prospective buyer and Prospective seller. They show Properties to Prospective Buyers and tries to convince them to buy the property at the desired amount.
Selling Agents
Selling Agents are real estate agents who look for people wanting to sell their property. They provide their Services and represent the seller or owner of the property being sold. They deal with prospective clients or agents. Selling Agents advertise their listing in order to sell the properties.
Buying Agents
Buying Agents are the agents who work on behalf of the buyers. They look for the prospective listings or properties and help the buyers to grab those properties at optimised cost.
How to Become a Real Estate Broker in India?
Becoming a Real Estate Broker is not what every student thinks of pursuing a career in. But when researched about the course one can find many advantages of being a Real Estate Broker. Students who wish to become Real Estate brokers should have proper knowledge of what are the entrance exams for the course and what are some of the best colleges for pursuing Real Estate courses.
To be a real Estate broker he/she should:
- Research and evaluate about the profession and the industry and the competitors.
- Choose a Specialty from Commercial Brokerage, Land Investments, or Residential Brokerage.
- Get the required Licenses and Registrations done to land in Real Estate business. These licenses and registrations are proof that you are an authorised Property dealer.
School Level Preparation
- The candidates are required to maintain at least 60% in their 12th or equivalent examination so that they are eligible to appear in the entrances
- The candidates are required to prepare for the various entrance examinations such as DU JAT, IPU CET, NPAT, SET, etc.
How to Become a Real Estate Broker in India after 12th?
The path to become a Real Estate Developer is not a hazy one just need to be clear and concise of why he wants to be a Real Estate Broker. Post completion of 10+2 a candidate can choose any of the fields to thrive in the Real Estate Broker field.
UG Preparation
- Post 10+2 a student has to appear for various entrance examinations.
- Based on the college, candidates are called for Group Discussion/Personal Interview/ Merit Rounds.
- In order to become a successful real estate broker the candidates are required to maintain a healthy score of 55% in the UG level so that they are eligible for hiring by the top companies.
- The candidates should start their preparation for the various entrance examinations such as CAT, SNAP, XAT, CMAT, etc if they are looking for higher education..
PG Preparation
- In the PG level the candidates are required to maintain a score of 55% so that those opting for higher education such as PhD remain eligible for admission.
- The candidates need to appear for internships during their final years of the program. This will allow them to gain experience necessary for the course.
- Candidates should start preparing for the various RETs or GATE for admission to the PhD courses.
Courses to become a Real Estate Broker
The following are some of the courses that a candidate can pursue to become a real estate broker.
BBA
BBA is a 3-year full-time Under Graduate course in. This course prepares students for business roles in order to handle the administration. BBA opens a gateway to numerous opportunities.
Admission process
BBA is one of the such fields in which admissions are done on the basis of scores obtained in 10+2. Though there are many colleges that offer admissions via Entrance exam Many colleges still prefer to admit students on the basis of Merit. Since many colleges offer admissions on the basis of merit, it is crucial for students to score good marks in their Intermediate. A step by step process to find and apply for the Admission process is listed below.
- Step 1: Set the parameter you want in a college and find colleges on the basis of those parameters.
- Step 2: Check the application dates of the colleges and fill the application form accordingly.
- Step 3: College will note the candidates who have successfully applied for a post which a merit list will be displayed on the website of the college.
- Step 4: Basis on the college, Call letters for Group Discussion and Personal Interview are rolled out.
- Step 5: Post Step 4, a final merit list is displayed on the website of the college.
- Step 6: Selected Candidates will have to Pay the required amount stated by college to confirm his/her admission in the college.
BBA Eligibility
- Candidates must have obtained at least 50% marks in 10+2.
- Some of the top colleges prefer candidates to have 60%.
- The candidates are required to be in the age group of 17 -22 years. A 2 year relaxation is provided to the candidates belonging to the reserved categories.
MBA
MBA in sales and marketing is a business administration program of 2 years duration. A graduate learns about various facets of managing a business administration along with sales and marketing which is a very important skill for a real estate broker..
Admission Process
Admission to MBA is done on the basis of the Entrance Examination. A candidate should have appeared in at least one of the CAT/MAT/CMAT/ATMA. Following steps should be followed in order to do MBA from right college.
- Step 1: Set the parameter you want in a college and find colleges on the basis of those parameters.
- Step 2: Check the application dates of the colleges and fill the application form accordingly.
- Step 3: Call letters for Group Discussion and Personal Interview are rolled out.
- Step 4: Post Step 4, a final merit list is displayed on the website of the college.
- Step 5: Selected Candidates will have to pay the required amount stated by college to confirm his/her admission in the college.
MBA Eligibility
- Candidates must have completed B.B.A or graduation from from a recognized university.
- At least 50% are required in Graduation to be eligible for Post Graduation.
- Some of the Institutes requires previous work experience.
Real Estate Broker: How to Become a Real Estate Broker Abroad?
As there is no prescribed course for Real Estate Broker, Students from any background can become Real Estate Broker.
BBA is a 3-year course in many foreign universities which lays emphasis on inculcating students with Business Acumen. Many Foreign universities offer BBA and MBA apart from India because BBA/MBA opens a ton of opportunities to choose from. Many Countries offer MBA/BBA and we have curated a list of Australia, the US, UK, and Canada.
How to Become a Real Estate Broker in Australia
Admission Process: Admission to any course in Australia is done on the basis of IELTS Score which should be more than 7.
Educational Requirement: A candidate should have obtained at least 70% in the last qualifying examination.
The average salary of Real Estate Broker in Australia is INR 3,687,152
Many universities offer to study in Real Estate Broker some of which are:
| College Name | Fees |
|---|---|
| RMIT University | INR 21,10,000 |
| University of Queensland | INR 36,50,000 |
| Monash University | INR 32,30,000 |
| Macquarie University | INR 31,20,000 |
| Swinburne University of Technology | INR 26,70,000 |
| La Trobe University | INR 30,90,000 |
| University of Tasmania | INR 25,30,000 |
How to Become a Real Estate Broker in UK
Admission Process: Admission to any course in the UK is done on the basis of IELTS Score which should be more than 6.
Educational Requirement: A candidate should have obtained at least 70% in the last qualifying examination.
The average salary of Real estate broker in the UK is INR 2,697,110
There are many universities that offer study in Real Estate Broker some of which are:
| College Name | Fees |
|---|---|
| University of Greenwich | INR 18,80,000 |
| Teesside University | INR 14,90,000 |
| University of East London | INR 18,70,000 |
| University of Manchester | INR 34,30,000 |
| King's College London | INR 34,60,000 |
| University of Leeds | INR 30,80,000 |
| University College London | INR 36,70,000 |
How to Become a Real Estate Broker in US
Admission Process: Admission to any course in the US is done on the basis of IELTS Score which should be more than 6.5.
Educational Requirement: A candidate should have obtained at least 70% in the last qualifying examination.
The average salary of Real Estate Broker in USA is INR 6,019,309
There are many universities that offer study in Real Estate Broker some of which are:
| College Name | Fees |
|---|---|
| The University of Illinois at Chicago | INR 36,60,000 |
| University of Texas at Arlington | INR 32,70,000 |
| Texas A & M University | INR 44,80,000 |
| Cleveland State University | INR 24,00,000 |
| The University of Texas at Austin | INR 48,30,000 |
How to Become a Real Estate Broker in Canada
Admission Process: Admission to any course in Canada is done on the basis of IELTS Score which should be more than 7.
Educational Requirement: A candidate should have obtained at least 70% in the last qualifying examination.
The average salary of Real Estate Broker in Canada is INR 4,547,076
There are many universities that offer study in Real Estate Broker some of which are:
| College Name | Fees |
|---|---|
| University of Toronto | INR 39,50,000 |
| University of Alberta | INR 22,90,000 |
| Memorial University of Newfoundland | INR 12,60,000 |
| York University | INR 29,10,000 |
| University of Regina | INR 21,30,000 |
| Niagara College Canada | INR 18,70,000 |
| Thompson Rivers University | INR 15,50,000 |
| Simon Fraser University | INR 22,50,000 |
Benefits of Career as Real Estate Broker
Every profession comes with its own share of benefits and perks. Being a Real Estate Broker, there are certain perks that are associated with it, listed below are few of them for your reference,
Salary
Real Estate Broker earn an average monthly salary of INR 25,000 to INR 30,000 at the start of their career. With the experience they gain and the network they make they can make INR 50,000 to INR 80,000 per month. The Income Potential is not limited to a set amount.
Job Security
The career of a Real Estate Broker is not a charming career however if one shows sheer dedication one can easily reap the benefits from this career path. There will always be a need for a Real Estate Broker for buying and selling a property at an affordable price.
Higher Studies
Candidates who want to be a Real Estate Broker can do some professional courses as well as MBA that can help them to scale up the ladder and learn more about the business understanding in the Real Estate Sector.
Unique Experience
Real Estate Brokers helps its prospective customer’s dream of buying a property come true. Making a dream come true of owning a house is what Real Estate Brokers always remembered for.
Skills Required to Become a Real Estate Broker
Some of the top skill sets that need to be inculcated and practised in order to excel in this field is tabulated below for your reference,
| Administrative Skills | Listening Skills | Planning Skills |
| Research Skills | Communication Skills | Ability to Convince |
| Understanding Properties | Clarity of all Legal documents related to Properties | - |
Salary of a Real Estate Broker
The average salary of a fresher Real Estate Broker is INR 2,00,000 to INR 3,00,000 whereas for experienced candidates it is INR 5,00,000 to INR 7,00,000.
Average Annual Salary
| Name of Organisation | Average Annual Salary |
|---|---|
| Govt | - |
| Private | INR 2,00,000 - INR 4,00,000. |
Specialization Wise Salary
| Specializations | Salary |
|---|---|
| Selling Agents | INR 3,00,000 |
| Buying Agents | INR 3,00,000 |
| Real Estate Consultant | INR 3,25,000 |
| Commercial Broker | INR 3,50,000 |
| Mortgage Specialist | INR 4,00,000 |
| Brokers | INR 4,50,000 |
Experience Wise
| Experience | Salary |
|---|---|
| Fresher | INR 2,50,000 |
| Experienced | INR 4,00,000 |
Real Estate Career Prospects
A Real Estate Broker can always level up after gaining expertise. He/She can choose to pursue higher studies also.
Higher Education- A Real Estate Broker can choose to study further after graduation which can help him/her to scale up the ladder. A candidate can plan on doing MBA in order to move up the ladder in a company.
Start Job- Candidates do not require any experience to be a Real Estate Broker. he/she can also open his/her own property consultancy firm or can work under a Property Dealer.
How to Become a Real Estate Broker: FAQs
Ques. What are the Qualities of a Real Estate Broker?
Ans. Understanding of land and its Documentation, Communication Skills, Presentation Skills, Time Management, Listening are some of the Qualities of a Real Estate Broker.
Ques. What is the role of a Real Estate Broker in Healthcare?
Ans. Real Estate Brokers are important because they are responsible as a link between a Property Buyer and Property Seller. He also takes care of the documentation required in the process.
Ques. What are the colleges for Real Estate Brokers?
Ans. Some of the colleges to pursue Real Estate Broker course are
- Royal Global University (RGU)
- Starex University
- Graphic Era Hill University (GEHU)
- Baddi University of Emerging Sciences and Technologies (BUEST)
Ques. How is the Real Estate Broker profession?
Ans. If you have the desire of making a career in Real Estate then this field is one of the best fields as this field will never be out of business and will be always in demand as people always look for Real Estate Brokers to buy and sell their properties.
Ques. What are the companies that recruit Real Estate Brokers?
Ans. Some of the top Pharmaceutical companies that hire Real Estate Brokers are DLF, NCC, Oberoi Realty Ltd, Godrej Properties, Phoenix Mills Ltd.
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