The effects of further professional education in real estate : A research report presented in partial fulfilment of the requirements for the degree of Master of Property Studies at Lincoln University

Abstract

Scant attention has been paid to investigating the effects and outcomes, a higher real estate qualification has on the performance and income levels of the real estate salesforce. The Diploma Business Studies (Real Estate) Massey, has been offered for eight years now, with 240 graduates working in real estate. This research is designed to measure the outcomes over time for both the graduates and the real estate industry, as a result of having completed the programme. The results of the research to make a valuable contribution to understanding the effects of further professional education in real estate. The results will also provide important information, which will assist in further enhancement of the Diploma programme. Continuing professional education is a vital component in the future successful growth, wellbeing and survival of the real estate industry. The graduates are providing higher professional standards, increased levels of service and enhanced earning capabilities. They are influencing the gradual disappearance of the conservative approach toward education from many licensees, managers and salespeople, and with it, the old perception that the real estate industry was a dumping ground for redundant people from other industries. The graduates involved in this study are career minded people committing themselves to an industry as professionals, by gaining in-depth knowledge of legal, ethical and technological implications forcing changes in their business environment. A new real estate is emerging, a new paradigm view of the way business will be done in the future, elevating it to a new standard requisite of knowledge, skills and style of professionals, rendering obsolete yesterdays accepted principles and practices. There is a new clientele emerging for real estate agents - a more informed client, sceptical of advertising and real estate hype. They are looking to the real estate agent for knowledgeable advice and guidance within property transactions, adding value to their expectations, not merely acting as a 'middle-man' in the transaction.