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Real Estate Overview

There are nearly 5 million individuals working in the various parts of the U.S. real estate industry, including mortgage banking, construction, title insurance, appraising, property management, brokerage and leasing, and real estate development. In addition to that number are the thousands of people working as commercial banking lenders, corporate real estate agents, savings and loan officers, and insurance companies who aren’t officially part of the real estate industry. Because real estate serves as a guarantee for mortgages and the foundation for mass amounts of capital, more than 33% of global financial assets are connected to real estate.

Real estate is an exciting and essential part of the global society. Those who work in real estate provide a service that affects each of our lives, and they contribute to development that will impact society for generations. A career in the dynamic field of real estate will provide fulfilling opportunities to stretch your abilities and expand your experience. A career in this field can yield exceptional earning for the individual who is self-motivated and willing to work hard.

A major focus of American Financial Institute’s educational services is to help real estate professionals begin or advance their careers. We make obtaining or renewing your certificate/license easy. Study at the pace that suits you...start and stop whenever you want and pick-up where you left-off! At the completion of your training you will receive your online certificate. Print it out and keep it in your account for safekeeping until you need it. Recrdkeeping made easy!

Subjects Covered Under This Heading are Described Below.

Real Estate Appraiser

Appraisers are responsible for giving fair property value assessments. Most appraisers work for an appraisal company or bank and use comparative market data or estimated property cash flow to determine value. Because appraisers are needed for refinancing as well as new sales, even when the real estate market is slow, appraisers tend to stay busy. States are required to implement appraiser certification requirements that are no less stringent than those issued by the Appraisal Qualifications Board in the Real Property Appraiser Qualification Criteria. You should contact your state's appropriate licensing bureau for the current requirements.

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Home Inspector

A home inspector is sometimes confused with a real estate appraiser. A home inspector determines the condition of a structure, whereas an appraiser determines the value of a property.

An inspector will check the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, electrical, and many other aspects of buildings looking for improper building practices, those items that require extensive repairs, items that are general maintenance issues, as well as some fire and safety issues. Home owners or home buyers often use a home inspection service before selling or buying their houses. A home inspector conducts a thorough examination of a home to detect any potential systems or components requiring attention. A home owner receives a detailed report of the condition of his/her home so that he/she can plan for needed repairs and upgrades when it is time to make them.

Licensing requirements for home inspectors vary greatly from state-to-state throughout the United States and sometimes contain specific educational course approvals. You should contact your state's appropriate licensing bureau for the current requirements. This is particularly important for residents of Arkansas, Kentucky, Louisiana, Maryland, Nevada, New Jersey, New York, Texas, and Virginia.

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Mortgage Brokers

A mortgage broker acts as an intermediary who sells mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. However as markets for mortgages have become more competitive, the role of the mortgage broker has become more popular. Today in most developed mortgage markets (especially the U.S., UK, Australia, New Zealand, Spain, and Canada) mortgage brokers are the largest sellers of mortgage products for lenders. The majority of mortgage brokers are regulated to ensure compliance with banking and or finance laws in the jurisdiction of the consumer; however, the extent of the regulation depends on the jurisdiction. Only one state within the U.S. has no laws that govern mortgage lending.

Licensing requirements for mortgage brokers vary greatly from state-to-state throughout the United States and sometimes contain specific educational course approvals. You should contact your state's appropriate licensing bureau for the current requirements.

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Real Estate Agent / Residential

Real estate agents serve both buyers and sellers in the real estate transaction process. In exchange for representation, both the buying agent and the selling agent charge a commission of around 3 percent of the properties selling price. More than 400,000 agents and brokers work in the United States. Anyone over the age of 18 with a high school diploma who can successfully finish a training course and pass a licensing exam can become a real estate agent. The National Association of Realtors has detailed information about local requirements.

Real Estate Agent / Commercial

Real Estate firms that specialize in commercial property rely on agents to sell hotels, office space, and other types of commercial real estate. Often commercial agents work in a specific area like retail office space, apartments, shopping centers, industrial real estate, or hospitality property. The best commercial real estate companies research and analyze regional market conditions in order to give big time investors the best information possible in choosing real estate. There are many professional organizations that cater to many different specific facets of commercial real estate. Some of these organizations include The American Industrial Real Estate Association, the National Association of Industrial and Office Properties, the Hotel and Motel Brokers of America, and the International Council of Shopping centers. The Real Estate Exchange is an organization specifically for women in commercial real estate. Since 1969 the Commercial Investment Real Estate Institute (CIREI) has provided the Certified Commercial Investment Member (CCIM) credential to qualifying professionals.

Licensing requirements for real estate agents vary greatly from state-to-state throughout the United States and sometimes contain specific educational course approvals. You should contact your state's appropriate licensing bureau for the current requirements.

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Title Insurance

Title insurance exists in the U.S. in great part because of a comparative deficiency in the U.S. land records laws. The title insurance industry is a profitable one. In 2003, according to American Land Title Association ("ALTA"), the industry paid out about $662 million in claims, about 4.3% percent of the $15.7 billion taken in as premiums.

Licensing requirements for title insurance agents vary greatly from state-to-state throughout the United States and sometimes contain specific educational course approvals. You should contact your state's appropriate licensing bureau for the current requirements.