Job-oriented Education and Study in the Department of Real Estate
After the pandemic hit Bangladesh, the job market got shaken and lost its captivating charm to a great extent. Many companies stopped recruiting new employees. Even many employers engaged in temporary and permanent layoffs due to the economic hazards they have been facing during this difficult time. One of the potential reasons behind letting an employee go is not having a job-oriented educational background which would have benefitted the company’s further growth. Traditionally many students choose to study in the Department of Business Studies which apparently offers a large set of job opportunities. However, there is a new stream which offers even more outcome-based, job-oriented and industry-led education to the learners. Study in Real Estate sounds new and uncommon, but can be a brilliant field for seeking jobs in both home and abroad.
Conventionally, Real Estate is thought to be just a part of Business Studies. This is partially true. Nonetheless, a major in Real Estate means even much more than just a course or two. Fortunately, in Bangladesh, Daffodil International University has a complete and wholesome Department of Real Estate which is under the Faculty of Business and Entrepreneurship. Recently, I have searched the information on Google and come to know that DRE in Daffodil University is the only fully-fledged department of Real Estate in Bangladesh.
Daffodil International University inaugurated the Department of Real Estate in 2008 aiming at producing quality graduates to meet the growing needs of the real estate industry. Till today, around 250 students obtained their bachelor degrees from DRE. The Department does not have a Master's program though it is under process. However, it offers major in Real Estate in the MBA program. That is to say, almost 250 students already know the ins and outs of real estate industry. They have the standardized theoretical knowledge which allows them to work meticulously in any real estate company.
Now, let me show the gap here. Unless one has a specialized knowledge and practical expertise on a particular subject or area of studies, he or she cannot give his or her best shot to improve the base and superstructure of the company which directly and indirectly impacts the entire economy of the country. Real Estate is a growing industry in Bangladesh. Even fifteen years back, people did not want to buy apartments and flats. Now that the population, like urbanization, is rapidly increasing, the need of possessing a complete material property is also on the peak. The problem is that most of the employees in real estate sector do not come from an outcome-based educational background. For this reason, they lack practical skills and confidence to kickstart their career when they graduate.
Therefore, students, who are passing their higher secondary education this year, can seriously think of getting enrolled in the Department of Real Estate, currently singularly available in Daffodil International University. I also think that more universities should open a new department of real estate under the business faculty. Parents of young learners may give it a second thought before getting their children enrolled in such an uncommon and relatively unknown department. Their concerns are quite understandable. However, the initiative of receiving a formal education in real estate will definitely enable a myriad of people to expand and explore new and sustainable career opportunities. I will write how!
Bangladesh is a small country. Many people are heading towards cities and towns for better living and more prosperous career opportunities. The buildings are rarely planned, and it is reported that one third of the people in Dhaka city lives in the slums. Here comes the demand and unavoidable functions of the developers and real estate companies. Land is a fixed, finite and scarce resource. We cannot make more lands. But on a limited piece of land, we can certainly think of building a residential or industrial or commercial property. The question is, who will help building these properties in a place where we have to deal with massive shortage of livable and usable land? The answer is, the real estate industry that recruits dynamic and skilled professionals!
If you are looking for a fast-paced, fulfilling, demanding and challenging career, you can certainly think of pursuing your degree in real estate. If you invest in such a degree, it is going to pay off as soon as you graduate with a good grade. Skilled and qualified professionals are always in-demand in the real estate industry. Moreover, the professionals with a complete bachelor degree in Real Estate get handsome salaries. Although real estate has a speculative economy, people’s aspiration of buying a house will never go down.
In real estate industry, you can always learn something new. Every land comes with a new dimension to add to your previous knowledge and experience. While dealing with lands and properties, you ultimately deal with human beings and their dreams. You tend to socialise more than ever. And this is the most rewarding aspect of working in a real estate company. Apart from learning, doing hard work and getting median salaries, you help people finding the best place for living. Purchasing and selling a residential or commercial property can be emotionally very challenging and stressful at times. But this is what makes you a composed person at the end of the day!
Those who still think of getting a job and feeling shackled while working under an employer can feel relieved, because in real estate industry, you can be self-employed too. You can work independently. Many agents work as freelance contractors. You can be your own boss. You can set the working hours and schedules on the basis of your priorities and lifestyle choices. And still, you can earn and contribute ample amount of money to the development of your own neighborhood.
Real estate is a dynamic industry. It is always changing and progressing. Adapting to new changes and going with the current flow can be utterly exciting when you know how to deal with it. It is reported that real estate sector contributes approximately 14% in the national GDP of Bangladesh. It is due to the malpractices and lack of ethical and proper education in this field. To overcome the hurdle and increase the percentage, the aspiring professionals should know it better. And the knowledge comes from an outcome-based degree which is currently offered by the Department of Real Estate in Daffodil International University in Bangladesh. I really hope that students will avail this academic opportunity and then jump right on the field of this flourishing transnational job industry.
Jainab Tabassum Banu Sonali
Lecturer, Department of English Language and Literature, Premier University Chittagong