CHOOSE COMMERCIAL PROPERTY AS A CAREER! CAREER DAY GUIDE
CONTENTS SAPOA in Brief 3 Vision and Mission 4 Introduction 5 4 Step Career Planning Process 6-7 Property and Construction Qualifications 8 BSc. Property Studies 9 BSc. Construction Development 10 BSc. Quantity Surveying 11 Bachelor or Architecture 12 BSc. Property Development 13 BCom. Finance/ BCom Accounting 14 Diploma in Real Estate 15 BCom. Property Valuation and Management 16 Bachelor of Urban & Regional Planning 17 High School Subjects 18 Competencies and Knowledge 19 Continuous Professional Development 19 Potential Property Sector Career Options 20 Where do I get Career Guidance? 21 How do I make the right choice? 21 2
SAPOA IN BRIEF... SAPOA (South African Property Owners Association) was established in 1966 by the leading and large property investment organisation to bring together all role players in the commercial property field and create a powerful platform for property investors. 3
VISION To be a nationally accepted and internationally recognised leading property association. MISSION SAPOA s mission is to be committed to actively and responsibly represent, protect and advance our members commercial property interests within the property industry. 4
INTRODUCTION CHOOSING PROPERTY AS A CAREER You are surrounded with properties; these are not just buildings and structures but these properties are also investments. Pursuing a career in the property sector means you get to know the background details that leads to these beautiful buildings, whether in a form of a house, office park or shopping mall. Property is also a means to acquire a growing investment portfolio. By entering the property sector, you will have the opportunity to develop, manage, and influence the growth and future of the property sector. But to do so successfully, you must follow a career ladder that combines education and practical experience. PLANNING YOUR CAREER Choosing a career is what leads a person to selecting an occupation or job. Career planning is a lifelong process, it includes choosing an occupation, getting a job, growing in the job/ company/ sector and eventually retiring. Career management can facilitate success in your chosen career choices throughout your lifetime. Career changes usually happen more than once these days, this is due to many factors, for instance the rate of technological change and mobility. With that in mind, the broad spectrum in the property sector can allow an individual a range of options to choose from. 5
A 4 STEP CAREER PLANNING PROCESS: 6
STEP ONE Who am I? Your personality Your goals, values, interests Psychometric tests Career counselling STEP TWO Identify career options What are your options? What do you want to study? Research, research, research Apply at university that offers the qualification Ask questions; read about your chosen industry STEP THREE Research information Why did you choose a specific career? Match your characteristics & skills with a career option Be part of the university career office and participate in their career development activities. Seek part time work opportunities to learn while you study, job shadowing, vacation work STEP FOUR Develop an action plan Establish steps to achieve your goal Identify obstacles Set timelines Commit to steps & timelines Type a Curriculum Vitae (CV) Prepare for interviews 7
PROPERTY & CONSTRUCTION QUALIFICATIONS The property industry is one of the key sectors in the economy of the country. Parts of it, like valuation and brokerage, are highly regulated with rigorous licensing and practice standards that members have to comply with, yet all aspects of the industry are as much important. The industry has a strong people orientation requiring you to be able to deal with clients and other professionals. It is competitive, requiring you to compete with other professionals for business. This gives you the opportunity to differentiate yourself from your competitors through innovation and adaptability. An important part of this requires understanding that a good part of the business is based on transactions, making your earnings may dependent on the commissions you earn. This requires being able to devise solutions that meet the needs of the clients. It is also a career that can be uncertain, dependent on the changes in the regional and national economy. The industry has become dependent on technology and changing solutions, requiring you to commit to lifelong learning. The range of career options is very wide, including finance, investments, market research, property management, asset management, development and valuation. The following pages gives you some of the options you can choose to study within the property sector offered by leading universities in the country. We invite you to browse through to get a better view. Disclaimer: The overview on each qualification may vary from university to university and merely serves to give a perspective for such qualifications. 8
BSc. PROPERTY STUDIES Overview: The programme involves learning the core fundamentals of property as well as the building blocks which enable students to provide solutions to real estate problems in forthcoming years. This include electives which prepares students to specialise in their chosen real estate pathways, including research reports that get published in leading international real estate journals. Students get to solve practical real estate problems affecting the South African real estate industry with real life scenarios in partnership with industry and present their findings to academic and industry bodies. 9
BSc. Construction Studies Overview: Construction management is the field of study meant for the person who wishes to become part of the process of infrastructure development, especially the construction of buildings. The construction manager is a professional business person who acts as manager for undertakings in the building, construction and property industry as well as related support services. 10
BSc. Quantity Surveying Overview: Quantity surveying is the science that delivers specialised financial and contractual services and advice to clients in the building and construction industry, as well as in related industries. The quantity surveyor is an independent and professional consultant who works with architects, consulting engineers, and the building contractor, in order to protect the interests of the client, while at the same time also looking after the interests of the contractor and subcontractors. 11
Bachelor of Architecture Overview: Architecture entails the design of buildings and the spaces between those buildings. It is the art and science that is employed in order to create a liveable environment, thus contributing towards the spiritual and material prosperity of the country. Architects are often independent thinkers, individualists and innovators. Although they are employed by organisations involved with development, investment, research, marketing, the industry or even education, many architects prefer to be independent consultants and entrepreneurs. 12
BSc. Property Development Overview: The degree is offered in a structured setting in the applied sciences that stretch over four/five years of full-time study. Emphasis is placed on training in the fundamental principles, which equip engineers, construction managers and land surveyors to deal competently with the manifold problems they will encounter in their professions. Degrees offered are up-to-date, relevant to industry, and internationally recognised. Graduates readily find top positions with good companies. 13
BCom. Finance/ Accountancy Overview: The qualification provides students with a comprehensive knowledge base for identifying, analysing, evaluating and solving problems in the following underlying core modules: accounting; auditing; taxation and financial management. 14
Diploma in Real Estate Overview: The programme is designed to develop participants practical and theoretical understanding of the essential aspects of Real Estate marketing and valuation. The graduate will be multiskilled and be able to offer property marketing, building practices and property valuation services. 15
BCom. Property Valuation and Management Overview: The primary purpose of the BCom Honours (Property Valuation and Management) programme is to strengthen the applicant s knowledge and comprehension in the disciplines of Property Valuation and Management. The programme is comprised of a broad-based curriculum to prepare the post-graduate student for a wide range of property valuation and management specialities. The curriculum includes seven topic areas ranging from advanced property management valuation, finance and investments, applied property law to property portfolio management. The programme emphasises application, analysis and evaluation within each topic area as well as the application of integrity and ethics in a professional environment (outsourcing); others do it themselves (inhouse management). 16
BACHELOR OF URBAN & REGIONAL PLANNING Overview: If a person is interested in understanding the interconnectedness between mankind, the environment and the economy then they should consider a career as an urban/town and regional planner. Urban and regional planning is the orderly development of the spatial environment for the benefit of a society. Urban/Town and Regional Planners answer the following questions: How do we manage the current and future challenges of urbanisation? Do we have sufficient natural resources to manage the rapid population growth? Can we find sustainable solutions that will respond to challenges such as poverty, adequate healthcare, quality education, decent work and economic growth, the integration of society, climate change and responsible environmental management? A career in Urban/Town and Regional Planning acknowledges these challenges (and many more) and explores possible avenues of addressing these for the benefit of society. 17
HIGH SCHOOL SUBJECTS You may need some of the below listed matric subjects to be legible to study at tertiary institutions that offer these qualifications. Your marks will also have to be above average to be accepted by any of the institutions. English Mathematics (not math literacy) Economics and Accounting Physics Geography Life Orientation 18
COMPETENCIES AND KNOWLEDGE Your skills set and competencies will help you advance through every career choice you make, and these are some of the competencies you will need to have in the property sector. Analytical and Methodological Thinking Financial Management and Budgeting Real Estate Investments and Financing Knowledge of government policies, procedures and regulations Knowledge of property law Negotiation and communication skills Construction and Structural Designs Cost Planning, Forecasting and Revenues Demographics and Statistics Environmental Law Procurement and Tendering People Skills and Management CONTINUOUS PROFESSIONAL DEVELOPMENT Like any other profession, the property sector Generic competencies you will need once you ve completed your qualification are listed below but are not limited to these. Professional Development Education Certification Programmes Professional Bodies Membership 19
POTENTIAL PROPERTY SECTOR The below list of positions serves as an overview of possible roles in the property sector, and may vary from time to time and company to company. Real Estate Agent Property Administrator Property Manager Commercial Property Broker Property Research Analyst Property Valuer Leasing Manager Portfolio Manager Building Supervisor Operations Manager Construction Manager Quantity Surveyor Asset Manager Facilities Manager Town Planner Legal Manager Finance Manager Accountant 20
WHERE DO I GET GUIDANCE? Career centres The Department of Labour Career exhibitions The internet Newspaper career supplements Books on careers Career counsellors at Schools or Universities The Department of Labour HOW DO I MAKE THE RIGHT CHOICE? Match your characteristics, interests and skills with a specific career Choose a career path that has different options and opportunities Ask yourself why you have chosen that career Constant and thorough research will help to inform and solidify your choice. 21
Bursary & Career Specialist Email: bursaryfund@sapoa.org.za