Residential real estate education and globalisation in Australian real estate markets and practices

Wu, Po-Jui & Eves, Chris (2013) Residential real estate education and globalisation in Australian real estate markets and practices. In Kajewski, Stephen, Manley, Karen, & Hampson, Keith (Eds.) Proceedings of the 19th CIB World Building Congress, Brisbane 2013 : Construction and Society, Brisbane, Australia.

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Abstract

The purpose of this scoping paper is to offer an overview of the literature to determine the development to date in the area of residential real estate agency academic and career education in respect to Foreign Direct Investment (FDI) transactions and implications in Australia. This paper will review studies on the issue of foreign real estate ownership and FDI in Australian real estate markets to develop an understanding of the current state of knowledge on residential real estate agency practice, career education and real estate licensing requirements in Australia. The distinction between the real estate profession education, compared to other professions such as accounting, legal and finance is based on the intensity of the professional career training prior or post formal academic training. Real estate education could be carried out with relatively higher standards in terms of licensing requirement, career and academic education. As FDI in the Australian real estate market is a complex globalisation and economic phenomenon, a simple content of residential real estate training and education may not promote proper management or capacity in dealing with relevant foreign residential property market transaction.

The preliminary summarising from the literature of residential real estate agency education, with its current relevant or emerging licensing requirement are focused on its role and effectiveness and impact in residential real estate market. Particular focus will be directed to the FDI relevant residential real estate agency transactions and practices, which have been strongly influenced by the current residential real estate market and agency practices.

Taken together, there are many opportunities for future research to extend our understanding and improving the residential real estate agency education and training of Foreign Direct Investment in the Australian residential real estate sector.

Impact and interest:

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ID Code: 65488
Item Type: Conference Paper
Refereed: Yes
Additional URLs:
Keywords: Foreign Direct Investment (FDI), Real Estate Education, Real Estate agency Practice, Real Estate market, Globalisation, Ownership
ISBN: 9780987554215
Subjects: Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > URBAN AND REGIONAL PLANNING (120500) > Housing Markets Development Management (120503)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > COMMERCIAL SERVICES (150400) > Real Estate and Valuation Services (150403)
Divisions: Current > Schools > School of Civil Engineering & Built Environment
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Copyright Owner: Copyright 2013 Queensland University of Technology
Deposited On: 20 Dec 2013 01:27
Last Modified: 10 Jan 2014 04:36

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