Many entrepreneurs and investors seek to enter the world of real estate, which requires these investors to know many things and obtain specific training workshops to engage in the real estate sector. One of the most important things that the investor needs to know is studying the real estate market and how to deal with it, followed by various knowledge related to the field. In this program, investors are trained in basic matters such as market ownership objectives, accounting, financial reporting, budget, income, and real estate.
Waqar Hasan is a prominent figure in Dubai's dynamic property management sector. In 2010, he established the Itihad Community Management (ICM), addressing the escalating needs of Dubai's real estate market. Building on this success, Waqar founded the Waqar Hasan Real Estate (WHRE) firm in 2020. As an approved IREM trainer and an esteemed member of the Institute of Real Estate Management's (IREM) International Advisory Council, he seamlessly integrates global best practices into his endeavors. Waqar further solidifies his presence in the industry as a dedicated member of the National Association of Realtors (NAR).
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Owners have high expectations of their real estate management professionals, and a strong knowledge of finance is an advantage that can enhance a real estate manager’s relationships with clients and the professionals that turn to them for their expertise.
Today, one cannot try to identify a single business model for a real estate management office and its accounting function. Many permutations can be found across different companies and regions, providing greater flexibility and market differentiation in terms of level and cost of service.
Accurate information is the foundation of managerial decisions. Therefore, the real estate manager must be aware of the different criteria that apply to various financial reports.
Accounting terms and concepts are the basis of the language of real estate finance. Real estate managers need to understand these concepts to set operating goals for the property, measure performance, and communicate to ownership.
Budgets are a tool used by real estate managers to plan and control a property’s operations. Learning and applying the skills to develop and monitor budgets is essential for all real estate managers.
In a sense, all of real estate finance is a study of valuation—how much a property is worth. The single most important contribution that a real estate manager makes is to build value for an investor.
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