Perform property market research

Research properties in order to assess their usefulness for real estate activities, using various methods such as media research and visitation of properties, and identify the potential profitability in the development and trading of the property.

perform land market research
implement property market research
perform house market research
perform estate market research

skill/competence

sector-specific

Perform property market research is an essential skill of the following occupations:

Real estate investor: Real estate investors buy and sell own real estate such as appartements, dwellings, land and non-residential buildings to make a profit. They might actively invest in these properties to increase its value by repairing, renovating or improving the facilities available. Their other tasks may include researching the real estate market prices and undertaking property research.
Real estate agent: Real estate agents administer the sales or letting process of residential, commercial properties or land on behalf of their clients. They investigate the property’s condition and assess its value in order to offer the best price to their clients. They negotiate, compose a sales contract or a rental contract and liaise with third parties in order to realize the stated objectives during transactions. They undertake research to determine the legality of a property sale before it is sold and make sure the transaction is not subject to any disputes or restrictions.
Property appraiser: Property appraisers undertake detailed analysis and investigation of properties in order to determine their value for sales, mortgage and insurance purposes. They compare the value of properties taking into account the age, actual state of property, its quality, repairs needed and overall sustainability. Property appraisers make an inventory of fixtures, compose a schedule of condition of property and prepare appraisal reports for both commercial and residential properties.
Property acquisitions manager: Property acquisitions managers ensure land or property acquisitions transactions. They liaise with relevant stakeholders concerning financial aspects and risks arising from the acquisition of property. Property acquisitions managers ensure compliance with legal requirements for purchasing property and take care of all documentation and closure techniques needed.

Real estate surveyor: Real estate surveyors undertake research in order to assess the value of property for tax purposes. They investigate multiple properties at once, using accurate appraisal techniques. They provide their services usually to local and governmental bodies for taxation reasons.
Letting agent: Letting agents schedule appointments with clients in order to show and lease real estate to prospective residents. They assist in marketing the property for rent through advertising and community out-reach. They are also involved in daily communication and administrative tasks.

Perform property market research is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Housing policy officer: Housing policy officers research, analyse and develop housing policies which enable affordable and adequate housing for all. They implement these policies to improve the housing situation of the population by measures such as building affordable housing, supporting people to buy real estate and improving conditions in existing housing. Housing policy officers work closely with partners, external organisations or other stakeholders and provide them with regular updates.
Relocation officer: Relocation officers help businesses and organisations with the move of employees. They plan the whole move. Relocation officers advise on real estate. They plan moving services and look after the general well-being of the employees and their family.
Foreclosure specialist: Foreclosure specialists revise documentation related to properties that are under foreclosure. They assist clients whose property has been reclaimed by banks due to non-payment of their mortgage by assessing the owner’s possibilities for saving the property.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Property assistant: Property assistants perform several duties including administrative tasks in the real estate sector. They provide clients with financial information about properties and advise them, they schedule appointments and organise property viewings, they prepare contracts and assist in property valuation.
Housing manager: Housing managers oversee housing services for tenants or residents. They work for housing associations or private organisations for which they collect rental fees, inspect properties, suggest and implement improvements concerning repairs or neighbour nuissance issues, maintain communication with tenants, handle housing applications and liaise with local authorities and property managers. They hire, train and supervise personnel.
Insurance underwriter: Insurance underwriters assess business risks and liability policies and make decisions about commercial property. They inspect the conditions of businesses’ properties, analyse inspection policies, assist with real estate and rent issues, prepare loan contracts and handle commercial risks in order to align them with business practices. Insurance underwriters analyse various information from prospective customers in order to assess the likelihood that they will report a claim. They work to minimise risk for the insurance company and make sure that the insurance premium aligns with the associated risks. They can be specialists in life insurance, health insurance, reinsurance, commercial insurance, mortgage insurance.

References

1. Perform property market research – ESCO