The possibility of being the master of one's own career draws many millennials towards the real estate industry.
The especially glamorous portrayal of the life of real estate professionals in TV shows and movies only goes on to make youngsters want this career even more.
But reality about working in real estate is not the same as we see on TV and in movies. While real estate career has its own perks, there are just as many challenges too.
If you're thinking about making a career in this industry, don't just jump in on the basis of what you've seen and heard about the industry so far, or you may get blindsided by actuality.
Instead explore the industry yourself with an internship program like international real estate internship in Singapore to see the good as well as the bad parts of a typical real estate career.
An internship program like this can help clear many of your misconceptions about the industry and give you a much more accurate understanding of the industry.
Let's look at some of the common myths and misconceptions about real estate career that an international real estate internship in Singapore would surely debunk for you:
Myth #1: You Don't Need Any Education or Training To Work In Real Estate
Well, the job description seems pretty easy, it's just buying, selling and negotiating about properties.
Why would you need a college degree or prior training to do this job?
However, the truth couldn't be farther away from this misconception.
If you're unable to find any dedicated Bachelors degree for real estate, that doesn't mean that you don't need to pursue any education at all.
You can still earn degrees in related subjects like civil engineering, business administration, finance or economics, sales, etc.
You may even have to undergo training to obtain license for working as a real estate practitioner.
Furthermore, you also need practical experience, like what international real estate internship in Singapore offers, prior to starting your career as a full-fledged real estate professional.
Having this sort of experience helps you become acquainted with the workings of the field in advance so that you have an edge over your peers when you finally start your career.
International real estate internship in Singaporeprovides extensive field exposure and helps you develop key requisite personal and professional skills.
Myth #2: Real Estate Career Is The Key To A Rich Lush Life
No, real estate agents don't roll around in money as you might have imagined so far.
The average annual salary of a real estate agent is about $45,000. This is not to say that you can't earn more and become rich in the progress.
But the path to the riches is not going to be a bed of roses. As you'll learn during your international real estate internship Singapore, while it's possible to have a fairly comfortable income in real estate, to earn more you'll need to be a lot more ambitious.
In fact, there are mainly 2 factors that impact your earning potential in real estate. First is the property market that you're working in.
There should be enough properties available for sale, and buyers too should have enough purchase capacity (either in the form of personal wealth or property loans).
Second is how much you're willing to work. Can you put in more than average work hours every week? Can you try a little harder than everyone else to close more property deals?
If yes, then you'll consequently earn better too. Just remember that there is no quick and easy money here. You'll have to work for it.
Myth #3: There Is No Need To Explore Different Real Estate Markets
You might think it's enough to work in your domestic real estate market, but the truth is that there might be good opportunities available in other international real estate markets too.
Singapore's real estate market is a great example, and you can work in this market with an international real estate internship Singapore.
The benefit of venturing out in a foreign real estate market is that you might end up tapping into an up-and-coming market that's far from saturation and full of potential.
Real estate is a booming industry in Singapore. This city-state expands across an area of just 719.1 km, which makes properties precious commodities.
Being a global destination, Singapore attracts many foreign investments in its real estate market. The desire of owning private properties is also high and stable among Singaporeans.
The combination of these factors makes Singapore's real estate market an excellent place to work in.
Myth #4: Real Estate Professionals Work Whenever They Want To
During the course of your international internship in Singapore, you'll learn that you will not exactly be in control of your work schedule when working in real estate.
Even if you're not working at a real estate firm and operating your own business independently, your work life will still be dependent on other people and things.
For example, a buyer may demand to see a property on a Sunday. Or you may have to work extra hours in a day for pursuing a lead.
With international Singapore internship, you'll learn that the work schedule of a real estate professional is not entirely in their own hands.
Myth #5: The Work Is Simple and Easy
If you're getting into real estate because it seems pretty straightforward and uncomplicated from the outside, wait till you get inside the industry with an international real estate internship in Singapore.
You'll find out the insane amount of work that goes into completing even a single property deal.
International real estate internship Singapore will show you that you're not in for an easy and simple ride with a real estate career.