The real estate industry requires a wide range of skills, including legal knowledge, contract practices, and asset management. In this context, proving your strengths in the form of a qualification is a very effective way to gain trust as a professional. In this article, we will systematically introduce the main qualifications related to the real estate industry, and provide detailed explanations of their characteristics, areas of use, and future trends.
table of contents
- 1 1. Introduction to each qualification
- 2 2. Useful qualifications for real estate investors
- 3 3. Qualifications that can be used for more than just real estate
- 4 4. Conclusion
- 5 References
1. Introduction to each qualification
1.1 What are the four major qualifications?
The four national qualifications listed below are known as the "four major qualifications" in the real estate industry. Each of them is accompanied by a legal monopoly on the business and name, and is extremely important in practice.
Real Estate Transaction Agent (Real Estate Agent)
- Overview:A national qualification for signing and stamping important matters explained in Article 35 documents and contract documents (Article 37 documents) during real estate transactions. In order to operate a real estate business, it is mandatory for every office to have at least one licensed real estate attorney for every five people.
- Exam period:Once a year (usually the third Sunday in October)
- Implementing organization:Real Estate Transaction Initiative Organization (RETIO)*1
- Field of application:Real estate brokerage, sales, rentals, developers, finance, real estate funds, government
Rental real estate management manager
- Overview:This is a professional occupation that handles practical matters in the rental housing management industry, such as contract management, building maintenance, complaint handling, and restoration to the original state. It became a national qualification in 2021 and is now also related to the registration requirements for rental housing management companies.
- Exam period:Once a year (usually late November)
- Implementing organization:General Incorporated Association Rental Property Management Association※3
- Field of application:Rental management companies, sublease companies, real estate investment support, management outsourcing services
Apartment manager
- Overview:This is a national qualification that provides expert advice on the management of condominium management associations. It is considered to be a qualification that requires extremely high levels of legal and practical expertise, as it tests comprehensive knowledge of the Condominium Ownership Act, standard management regulations, building maintenance, and accounting.
- Exam period:Once a year (usually the last Sunday in November)
- Implementing organization:マンション管理センター
- Field of application:Consulting for management companies and condominium management associations, cooperation with lawyers and tax accountants
Chief of management
- Overview:This is a national qualification that explains important matters regarding condominium management contracts and issues contract documents. Management companies are required to have a certain number of these qualifications in each office. It is common for them to hold a double license as a condominium manager.
- Exam period:Once a year (usually the third Sunday in October)
- Implementing organization:マンション管理センター
- Field of application:Apartment management company, front desk operations, building management sales, replacement proposals
All of these qualifications are "essential for business or have great credibility," and obtaining them directly leads to building a career in the real estate industry. In addition, many people aim to combine the real estate license with other qualifications, and obtaining multiple qualifications leads to strengthening one's expertise, which is also a major attraction.
1.2 National qualifications
Rental real estate management manager
- Overview:A national qualification that certifies knowledge of rental housing management operations. Will become a national qualification from 2021.
- Exam period:February every year
- Implementing organization:General Incorporated Association Rental Property Management Association※3
- Field of application:Rental management, owner representation, management company registration
Apartment manager
- Overview:A national qualification that provides advice on management and legal matters to condominium management associations.
- Exam period:Late December every year
- Implementing organization:マンション管理センター
- Field of application:Management companies, management association advisors, independent businesses
Chief of management
- Overview:A legally required qualification to explain important matters when signing a condominium management contract.
- Exam period:February every year
- Implementing organization:マンション管理センター
- Field of application:Apartment management, management association correspondence, customer explanation work
1.3 Qualifications from other organisations
Real Estate Consulting Master
- Overview:A top-level consulting qualification for those with real estate license and practical experience. Covers everything from inheritance, asset utilization, and market analysis.
- Exam period:February every year
- Implementing organization:Public Interest Incorporated Foundation Real Estate Transaction Promotion Center*4
- Field of application:Consulting, real estate advisory services, corporate sales
Real Estate Practice Examination (J-REC)
- Overview:A private certification exam that teaches the practical skills necessary for real estate investment and rental management.
- Exam period:Anytime (Course attendance + WEB exam)
- Implementing organization:Japan Real Estate Community (J-REC) *5
- Field of application:Private investors, owners and managers
NotMaster of Securitization of Personal Assets
- Overview:A professional qualification for REITs, funds, and real estate finance fields.
- Exam period:February every year
- Implementing organization:Association for Real Estate Securitization (ARES)*6
- Field of application:Real estate funds, financial institutions, and financial departments of listed companies
1.4 Trends surrounding real estate agents
The environment surrounding real estate agents is changing dramatically. In particular, the following points are expected to influence the future of the qualification system:
- Electronic contracts/IT important notes:In 2022, the ban on electronic documents under Articles 35 and 37 will be lifted, making IT literacy a required skill in practice. Electronic signatures and electronic delivery are now being implemented in the field.
- Invoice system:With the law coming into effect in 2023, higher accounting literacy will be required when determining whether transactions are taxable or non-taxable and when dealing with customers.
- Changing exam trends:Exams from 2024 onwards will focus on practical topics such as electronic contracts, tax systems, and work style reforms. There is a shift from memory-based to thinking-based testing.
The real estate license is no longer just a qualification to obtain, but is shifting to a qualification that continually adapts to changing practice.
2. Useful qualifications for real estate investors
Real estate investment is asset formation based on personal responsibility, so it requires a wide range of knowledge and judgment, from property selection to contracts, management, and taxes. The following qualifications are particularly useful for investors.
Real Estate Transaction Agent (Real Estate Agent)
It is useful for judging legal risks when purchasing an investment property and for improving your negotiating skills with intermediary companies. The ability to read and interpret contract documents and understand the contents of important matters directly leads to stable investment management.
Real Estate Practice Examination (J-REC)
You can learn know-how that is relevant to actual management, such as vacancy countermeasures, control of restoration costs, income and expenditure management, etc. It is a practical qualification with good cost performance, especially for investors who deal with regional properties and old properties.
Rental real estate management manager
You will gain the knowledge to carry out some of the management work yourself without relying on outsourced management. Also, when dealing with the management company on an equal footing, your specialized understanding will lead to a sense of trust.
Financial Planning Technician
It is effective when creating a total asset formation strategy including inheritance planning, tax strategy, loan review, etc. This is the perfect qualification for those who want to position real estate investment as "part of their life plan."
3. Qualifications that can be used for more than just real estate
The following qualifications are highly versatile and can be used in a wide range of fields outside the real estate industry, leading to a variety of career paths and side jobs.
Financial Planner (FP)
You can learn about a wide range of life planning topics, including insurance, taxes, pensions, mortgages, and education funds. This course is also very useful for real estate salespeople who provide financial planning advice to their customers.
Interior coordinator
Strengths include renovation, home staging, model room proposals, etc. Recommended for sales and design positions involving second-hand resale and remodeling proposals.
Architect
In addition to design and supervision, you will gain a wide range of specialized knowledge in areas such as building structure, earthquake resistance, and construction methods. It is also highly regarded from the perspective of renovation, resale business, and increasing asset value.
4. Conclusion
Real estate qualifications are not only useful for acquiring specialized knowledge, but also for cultivating the "judgment" required to protect your own valuable assets and home. For example, if you have a qualification related to real estate investment, such as a real estate agent's knowledge and understanding of points to note when signing a contract, you will be able to confidently choose properties and assess risks.
Furthermore, when you are faced with life events such as buying, renting, or selling real estate, you will be able to clearly see what qualified professionals you should consult with, or what areas you can cover by studying on your own. Rather than leaving it to professionals such as agents, researching qualifications that interest you according to your own goals or even starting to study is an option for making a solid investment. Taking the first step in learning should lead to a real estate transaction that is reassuring and satisfying.
References
- *1: Real Estate Transaction Integrity Organization (RETIO) |https://www.retio.or.jp/
- ※2: Ministry of Land, Infrastructure, Transport and Tourism Real Estate Examination System page |https://www.mlit.go.jp/
- *3: Rental Property Management Association |https://www.chinkan.jp/
- *4: Real Estate Distribution Promotion Center |https://www.retpc.jp/
- *5: Japan Real Estate Community (J-REC) |https://www.j-rec.or.jp/
- *6: Association for Real Estate Securitization (ARES) |https://www.ares.or.jp/
