Purchasing a home, investment property or new business property is not a simple process. Pursuing financing, pricing, obtaining insurance, filing for transfer of titles, and ensuring the property is safe for occupancy are just a few aspects of buying and selling real estate. There are a range of professional positions responsible for the completion of these various tasks within the real estate industry, known for fluctuating according to economic health. Positions including home appraisers and assessors, real estate brokers and sales agents, and real estate inspectors saw record highs in the housing market in 2015, with the sector finally back on its feet after the Great Recession. Though careers in real estate vary from state to state, a thriving economy presents ideal conditions for aspiring professionals in the field. Today, Boulder, CO and Elmira, NY are among the fastest-growing housing markets in the nation.
Careers in real estate require specialized knowledge of the industry. Which is why individuals pursuing a real estate degree online will develop a familiarity with the entire process and the roles of each professional therein. Students can earn an online real estate degree in one of numerous specializations from some of the top ranked colleges and universities. With employment opportunities currently rising within a healthy economy, obtaining a real estate degree online prepares graduates for a career with longevity and job security. Though not always required, many employers prefer candidates who have earned a traditional or online real estate degree, such as an online bachelor’s degree in real estate, with the expectation that these individuals will be better equipped to serve their needs; all states have their own licensing requirements in addition to professional education stipulations. Earning a real estate degree online can be especially convenient for working adults, single parents, and part-time students.
What Are The Best Online Real Estate Programs?
What Can You Do with a Real Estate Degree?
While formal education requirements vary state to state for real estate jobs, the best opportunities to further your career can come with earning a degree in real estate online. Though the details of obtaining a license are also unique to each state, real estate professionals must achieve and maintain initial licensure regardless of where they practice within the U.S. Some states will also require a degree as a condition of licensure for real estate workers. Real estate brokers and sales agents are among the most common positions in the field, requiring a unique combination of skills in sales, negotiation, property taxes, and government housing programs. These multi-functional professionals must also be fluid in financing and mortgage options, as well as keep up with the latest zoning and homeowner laws. Professionals with an education in a particular specialization and/or with an advanced degree in real estate may be eligible for other positions within the field, including, but not limited to, home appraisers and assessors and real estate inspectors.
Glossary of Common Real Estate Terms
- Ad Valorem Tax
This tax is based on the value of the property, determined and charged by local government authorities.
- Adjustable Rate Mortgage (ARM)
A mortgage whose interest rate is adjustable throughout the life of the loan and does not necessarily stay the same as when the loan was originated.
A person who is authorized to act on another’s behalf. An agent in real estate may represent the seller, the buyer, or act as a dual agent representing both, as well as be a transaction agent that represents neither party but helps broker the deal; all real estate agents must be licensed in their state.
A written estimate of the value of a property by a qualified professional appraiser.
- Assum. Fin.
Short for “assumable finance,” this means the buyer is eligible to assume the seller’s current outstanding loan, typically according to the same terms and interest rate as the original arrangement.
The abbreviation for “comparative market analysis,” a CMA is a comparison of the selling prices of similar properties in the same zoning area.
- Closing costs
The fees paid at the final closing of a real estate transaction, during which the title to the property is transferred from the seller to the buyer.
A condition in which an offer on a home has been made by the buyer and accepted by the seller, but the final sale is contingent upon specific criteria, such as appraisal, home inspection, and/or mortgage approval, being met.
This abbreviation stands for “for sale by owner.”
A contract between a seller and real estate broker or agent to list the seller’s property for sale and act on their behalf in order to broker a deal.
This abbreviation stands for “multiple listings service.”
This abbreviation often included among listing details describing a property stands for “potential.”
A representative who acts on behalf of a buyer, seller, or agency to facilitate the sale and purchase of buildings and property; may be used interchangeably with “agent” in relation to real estate.
- Title insurance
A form of indemnity insurance which protects against financial loss from defectors in relation to property purchases, as well as invalid or unenforceable mortgage loans.
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To determine the best online Real Estate programs, we looked at the most important factors prospective students, mainly common predictors of future success and a school’s commitment to online programs. This boils down to admissions rate, student loan default rate, retention rate, graduation rate, and the percent of students enrolled in online classes. All data points are taken from information provided by colleges and universities to the National Center for Education Statistics.
Each factor is weighted evenly in order to give an objective view and determine the 2 best online Real Estate programs. To calculate our rankings, we looked at a school’s ranking when organized by a single factor, and then averaged each category’s ranking to find an overall score: Admissions Rate (20%) + Default Rate (20%) + Retention Rate (20%) + Graduation Rate (20%) + Percent of Students Enrolled in Online Classes (20%) = Final score.