Why my major is great

By
Services for Real Estate Pros

 

I talk to my friends and sorority sisters who are graduating this May and most of them say they're worried about finding a job after graduation. I can say that's one good thing about the change in Congress- no one will be able to afford their house so they'll come to me to rent!

No one in my major is worried about getting a job. Instead we're talking about the lowest salary we'll accept. The general consensus is no lower than $50,000 because a) we're studying subjects and techniques most people in our industry don't even see until they are regionals (even some regional don't see this stuff) and b) we'll have a designation.

Case in point. My senior seminar this semester is Asset Management. It's the hardest class in our major, harder than even our Contemporary Issues class I'll be taking in the spring where we complete our CAM (Certified Apartment Manager) project to get our CAM designation. I'm rocking out with an A in the class. To me it just makes sense. Two weeks ago we just finished a budget project worth 1/3 of our grade. We had to start from scratch and using last year's figures and the management agreement, figure out marketing techniques, rent rasies, cap ex projects and how much we'll spend while keeping certain expenses the same as the previous year. There were all sorts of goals we had to make, like making NOI positive, increasing cash flow, giving our management team a raise while keeping payroll costs constant... it was a difficult and detailed project even in groups.

A good portion of that project we wouldn't be doing in real life as a site manager. But as our professors say, this class is a major factor in companies hiring us.

My House Planning class, while mostly focused on single family homes, is great for those wanting to go into development (like myself). We have to learn the basics of good house design and the cost associated with it. My professor is a real treehugger so we talk a lot about sustainable design.

My Maintenance for Property Managers class talks about the relationship with your maintenace team, budget planning and emergency situations. Our next big project is to develop a disaster plan from the ground up, including emergency contacts, major topics the plan will include, who has a copy of this plan, and specific plans for a fire, chemical spill and blizzard. We recently visited Blacksburg's newest apartment community, Smith's  Landing to see how they do maintenance make-readies for both the stabilized part and construction part of their community. I got to see this during my internship, but not so much the construction side. We liked their system, but were surprised that they didn't think of adding an elevator considering it's a very high 5 story building.

I love how relevant my classes are to what's going on in the economy and industry. We're constantly having industry speakers talk to us, taking trips to projects going on around Blacksburg and talking about news articles we bring into class. This was definitely a better choice than the Computer Science I came in as.

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Rainmaker
2,348,816
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

Just remember change for change sake is not change. You and your generation will do wonders because you are at the threshold of change.

Nov 11, 2008 12:44 PM #1
Rainer
20,354
Kat Malone
Charlestown, MA

Charles- I hope we can bring about change, and the right kind!

Nov 12, 2008 12:16 PM #2
Rainmaker
1,231,360
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Kat - the more things change - the more they stay the same.

Learn as much as you can, do as much as you can and decide early on if you want to work for a large developer or a large fee PM firm.

I've made more money in my 40+ years as a PM than 98% of the RE agents and I'll ALWAYS have a job.  Get your CPM ASAP as that is your entre for your career path.

Go WHOOS!!!

Nov 13, 2008 04:01 AM #3
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Rainer
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Kat Malone

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