Most professionals are required to spend many years in school studying to become experts in their subject area. After a long educational journey, they finally achieve their credentials that designate them an expert - only to quickly realize that this expertise alone is not enough for business success. Stories abound of the professional who is unquestionably the best at what he or she does, but unfortunately never achieves his or her potential because that skill set does not extend to business acumen. Some real estate professionals may end up working in the corporate world or for government, but the majority will work for small firms and, quite often, start their own small proprietorships or partnerships. Their success will be a function of not just solid work in their area of expertise, but also solid work in managing a small business.
This course offers real estate professionals an overview of organizing and financing a small business in the real estate industry. The course discusses the various forms of business organization, including each form's strengths and weaknesses; how to develop a financial plan for a business, including obtaining the necessary equity and debt to start and maintain business operations; and various strategies for identifying and managing a variety of business risk.