The real estate industry offers a variety of career opportunities. Most people recognize the familiar residential real estate agent who helps with the sale and purchase of local properties. But few know the myriad of other lucrative career opportunities. From knowledge-driven desk jobs to flexible positions in the field, consider the full range of choices in real estate.
All real estate agents must work under a licensed broker. A broker is a licensed real estate agent with a minimal number of years of experience who attains higher education. After completing the licensing course and passing the exam, a broker can manage multiple real estate agents. Brokers list properties and help people with the sale and purchase of properties. Agents may perform this work for them, and the broker collects a commission when the transaction is complete. A portion of this commission is paid to the agent who facilitated the deal. Both agents and brokers are required to complete minimal continuing education requirements to maintain their licenses.
Appraisers complete a state licensing course to learn how to determine a property’s worth and must also pass a state exam. Appraisers may assess the value of residential and commercial properties. Residential appraisers rely mostly on what they learn during their required course. Commercial ones often work with well-established appraisers to properly evaluate the complexities to determine the value of these properties. Some appraisers are privately employed to assess the worth of a house before it is purchased or sold. Others work for the government to assess properties for taxation and other legal purposes.
Many famous people have made their fortunes by wisely investing in real estate. Some investors purchase homes that need work then fix and flip them for a profit. Others decide to purchase homes to rent as summer vacation houses or to year-round renters. And, some passive investors put money into projects handled by others and reap the reward for their initial cash investment in the property. Most investors have years of experience as real estate agents, brokers, or appraisers. After working in the industry, they use their knowledge and expertise to make money as investors who recognize the value of real estate as an asset.
Real estate agents often wait months for a deal to close to earn their money. A property manager makes a steady income by helping to ensure a residential or commercial property runs smoothly, and continues to be profitable to its owners. Some are leasing agents and others work hands-on as superintendents of a building. A manager often handles necessary repairs, property maintenance, and collecting rent from the tenants. Agents who take these jobs may pursue careers in real estate management, and could also decide to become investors.
Property managers are responsible for the daily operations at a property. Leasing consultants and managers strictly work to ensure the building has qualified tenants. Leasing managers and consultants work flexible hours and must be comfortable marketing properties and negotiating with tenants. Plus, leasing consultants need to research current market conditions to verify the properties are rented at a competitive price to be as profitable as possible. Corporate leasing managers perform this work on a large scale, making sure all the units in a commercial building are rented to paying tenants.
A growing number of real estate agents are employed by private lenders and banks to keep track of the foreclosure processes on properties. The client’s financial statements are carefully reviewed for processing and selling foreclosed properties as quickly as possible. Foreclosure specialists are organized and detail-oriented and spend most of their time in an office.
Home inspectors verify the condition of a house to help determine its value. Any issues are documented to protect the buyers and sellers. Each state has its own licensing courses and requirements to become an inspector. And, most home inspectors have experience in real estate and construction. Much of their time is spent in the field, inspecting properties then reports are generated in an office.
Real Estate Attorney
An agent who enjoys school and wants to commit to years of education may decide to become a real estate attorney or paralegal. Attorneys and paralegals handle the legalities and paperwork associated with buying and selling properties. Some time is spent in the field and most is done in an office, from performing research to making calls and coordinating closing dates.
Real Estate Agent
Launching a successful career in the real estate industry usually begins by becoming a licensed real estate agent. The experience and knowledge gained by working as an agent can be used to pursue a variety of other career opportunities. Agents often wear many hats as they facilitate the sale, purchase, or rental of a property. And, many focus on particular areas of the industry, such as first-time homebuyers, seniors, luxury properties, and commercial real estate. Better Homes and Gardens® Real Estate agents have access to the Be Better University offering continuing education opportunities to help them build successful careers. A real estate agent has a wealth of opportunities at his or her fingertips. The real estate industry is lucrative for hard-working people with excellent research and communication skills. The sky is the limit when it comes to how much skilled real estate professionals can earn!