Contrary to what many people may first think, “real estate” encompasses far more than simply the residential brokers that help you buy and sell your home. In fact, the term refers to a much broader industry, including developers, financial analysts, corporate real estate officers, property managers, appraisers, and more.
Corporate Real Estate Management
For most businesses, real estate often makes up a large fraction of the company’s total assets, even if its primary business is not related to real estate. In addition, all businesses make real estate decisions on a regular basis: where to locate manufacturing plants, corporate offices, warehouses, retail operations, etc; whether to buy or lease space; is it best to build new or purchase an existing building; should the firm purchase or build more space than it currently needs, leasing out the excess until it is required.
To effectively make these decisions and to more efficiently manage their real estate assets, many large firms have created corporate real estate departments. In any event, all firms must make real estate decisions like as these on a regular basis, and students with an understanding of real estate markets bring an added set of valuable skills to any employer.