Professor of Real Estate

Industry:
Education
Last Updated:
September 19, 2023

Job Description Overview

A Professor of Real Estate job description involves teaching and researching the complexities of the real estate industry. As an expert in the field, the Professor of Real Estate is expected to develop and implement courses that address the theoretical and practical aspects of real estate transactions, property management, valuation, finance, and investment. They must stay current with changes in laws, regulations, and market trends that impact the real estate industry. Professors of Real Estate are also responsible for mentoring students, providing guidance, feedback, and evaluations. They prepare and grade assignments, exams, and research papers. They may also participate in fundraising activities, community outreach initiatives, and academic conferences. They are expected to have excellent communication and collaboration skills, as they often work with other faculty members, industry leaders, and students. A successful Professor of Real Estate should have a passion for education, innovation, and real estate.

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Job Duties and Responsibilities

  • Teach courses related to real estate, such as law, finance, and investment to undergraduate and graduate students
  • Develop and design course curricula and lesson plans
  • Grade student work, provide feedback, and offer one-on-one assistance to struggling students
  • Conduct research in real estate and publish findings in reputable journals or present at conferences
  • Serve on committees and attend meetings related to the department or university
  • Advise students on academic and career paths in the real estate industry
  • Network with professionals in the real estate industry to keep up-to-date on trends and developments
  • Engage in community outreach and service projects related to real estate
  • Collaborate with colleagues to improve teaching practices and departmental initiatives.

Experience and Education Requirements

To be a professor of real estate, you need to have a good education and lots of experience. Usually, the minimum education requirement is to have a master's or doctoral degree in real estate or a related field. It's also important to have a good understanding of the real estate industry, with experience working in the field for a few years. This could be as a real estate agent or broker, appraiser, or property manager. You should also have a love of teaching and be able to explain complex real estate concepts to students who may have no prior experience in the field.

Salary Range

The expected salary range for a Professor of Real Estate in the education industry is around $70,000 to $166,000 per year in the United States. According to Glassdoor, the average salary for a full-time Professor of Real Estate in the United States is $115,089 per year. Other factors that affect salary range may include the level of education, experience, and location.

However, the salary range might differ from one country to another. For example, in Canada, the salary range for Real Estate Professors is between CAD 85,000 to CAD 140,000 per year, according to the Canadian Real Estate Association. In the United Kingdom, Professors of Real Estate might earn anywhere between £58,000 to £136,000 per year, according to Total Jobs.

Sources:

  1. https://www.glassdoor.com/Salaries/real-estate-professor-salary-SRCH_KO0,21.htm
  2. https://www.crea.ca/career-opportunities/salary-and-job-outlook/
  3. https://www.totaljobs.com/salary-checker/average-professor-of-real-estate-salary

Career Outlook

The demand for real estate education and the need for professionals in the field is expected to grow over the next five years. The Bureau of Labor Statistics (BLS) anticipates employment of postsecondary teachers to grow by 9% from 2019-2029, faster than the average across all occupations. The real estate industry is also predicted to experience growth due to increasing population and urbanization, according to the National Association of Realtors. The job outlook for a Professor of Real Estate specifically may vary depending on the institution and location, but overall, the demand for experienced educators in the field is expected to rise. It's an exciting time for those interested in pursuing a career as a Professor of Real Estate!

Frequently Asked Questions (FAQ)

Q: What does a Professor of Real Estate do?

A: A Professor of Real Estate teaches courses to college students about property management, development, law, finance, and economics in the real estate industry.

Q: What are the qualifications needed to become a Professor of Real Estate?

A: A minimum of a Master's degree in a related field is required, as well as having significant experience in the real estate industry. Some universities may require a doctoral degree.

Q: What skills are necessary to excel as a Professor of Real Estate?

A: Excellent communication, time management, and organizational skills are necessary to effectively teach and manage courses. A Professor of Real Estate must have in-depth knowledge of the real estate industry and be able to explain complex concepts in a clear and understandable manner.

Q: What are some of the challenges faced by Professors of Real Estate?

A: Keeping up with changing curriculum and regulations in the real estate industry can be difficult. Also, teaching complex concepts in a way that students can understand can be challenging, and staying current with technology advancements can be daunting.

Q: What is the job outlook for Professors of Real Estate?

A: The job outlook for Professors of Real Estate is positive, with an expected 11% growth rate over the next 10 years. The demand for educated and skilled individuals in the real estate industry is on the rise, leading to an increase in the need for qualified professors.


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