Did you know that RMIT’s property programs are not about buying or selling real estate? If you thought otherwise, it’s time to think again.
RMIT’s undergraduate degrees in property are for people wanting to have a career in property investment, development, management, valuation, or funds or portfolio management.
Postgraduate programs are suitable for professionals seeking a career change, as well as those who are looking to upskill in the industry and obtain the qualifications they need to take the next step in their career.
We speak with Property and Valuation programs manager Dr Judith Callanan from the School of Property, Construction and Project Management, who takes us through what a qualification in property means and how important it can be in generating wealth.
What does studying property at RMIT mean?
At RMIT we have been teaching in property for the last 40 years.
We have staff members who are extremely passionate about the property industry, with nearly all staff members having held senior positions within the industry.
We pride ourselves on providing a comprehensive property degree that is closely aligned with industry requirements and that ensures students are work-ready when they graduate.
Because of RMIT’s reputation in industry, graduates are highly sought after, with many becoming industry leaders.
Can you tell us about the degrees at RMIT?
The Bachelor of Applied Science (Property and Valuation) (Honours) is a four-year honours degree, which places students at a higher level than a standard bachelor degree.
The program has been designed specifically to meet industry requirements across a range of specialist property areas such as development, commercial property management, investment, valuation, asset/portfolio management and funds management.
At the next level is the Master of Property, which is designed for individuals who are seeking a career change, or those looking to upskill within the property industry. It is also for those seeking to develop their own land or invest for themselves.
How exactly do these degrees prepare students for work in the property industry?
These are very practical degrees in which students can be work-ready before they graduate.
Work experience in the final years helps students integrate the skills they learn in their degree with practical applications in industry.
Students will learn how to read and analyse the property market, and to manage, invest, value or develop property, either as the owner or the representative for the owner.
They also learn to analyse property returns to invest or manage as part of one of the large real estate investment trusts funds.
Why is a qualification in property so important?
Property is a complex area that requires a breadth of knowledge in order to maximise returns.
As the bulk of people's wealth is held in property, an error can mean a loss in money or a loss in maximising returns.
The knowledge you can obtain in the degrees can significantly improve your own wealth, as well as provide skills that are transferable across a large variety of jobs in property.
Where are graduates working?
Most graduates are working in valuation firms, property development companies, or real estate investment trusts (REIT) (asset or portfolio management).
If I’m someone who is unsure about studying in property, why should I make the leap?
Every person and company either owns or occupies property – it is the foundation of wealth for nearly every person on the rich list.
The sharemarket, superannuation funds and corporations are all focused on property as being the preferred asset to invest in.
There is a huge variety of jobs, so whether you are a people person or more analytical there is a job to suit you.
It is a career that you can easily tie into other passions that you may have, whether they are in development, investment or management.
Story: Courtney Johnson