If you’re independent, flexible, great with people, and looking for a good source of income, you should consider pursuing a career in real estate. The real estate industry is one of the most important industries in the country. They’re the ones who help people buy, sell, and rent properties. That is why there’s always a demand for people in real estate because everyone owns or rents some property.
There are plenty of reasons why a career in real estate is a good idea. It’s accessible compared to other careers. You can do it at any age (as long as you’re 18 and above), you become your own boss, have flexible work hours, and the amount you earn directly reflects how hard you work. If this sounds like a fitting job for you, know that the demand for new real estate talent is high nowadays. So now is the best time for you to apply for a position in real estate. But before that, you should know that there are tons of career opportunities in this industry. Luckily, we’ve made it easy for you and summarized the best career opportunities there are in real estate (in no particular order). Get to know which of these opportunities suits you the most.
Real Estate Agent
The first person that comes to mind when you think of renting, buying, or selling property is a real estate agent. They’re the ones who do all the hard work for you and ensure that you successfully buy or sell a property. There are two kinds of real estate agents: residential and commercial. Residential real estate agents sell homes and condos. On the other hand, commercial real estate agents focus on selling properties to businesses and may require some level of knowledge in business and finance. Both agents work on commission and can earn between $41,707 to $54,304 a year.
To become a real estate agent, you need to get a license. To do so, you’ll have to take a certain number of hours of online courses (the number of hours differentiates in each state), take the licensure exam, and pass. Other careers listed here will require a different license, and some aren’t required but are still recommended for having a license.
Real Estate Broker
The title of “real estate agent” and “broker” are often interchanged, but they aren’t the same. Brokers are more experienced (and are paid more) than real estate agents. They may even have their own brokerage where they can hire several agents to work under them. However, brokers can choose to work independently, as well. They also have a different license from agents, which means they must take more courses above the real estate agent level and require a different licensure exam. A real estate agent can work towards becoming a broker in the future.
Real Estate Developer
Real estate developers buy land and develop it by building real estate properties on it (homes, buildings, condos). They’re responsible for the planning, financing, and execution of property construction. They work with engineers, architects, contractors, lawyers, and leasing agents. To become a real estate developer, you need to have a degree in either Business Real Estate, Urban Planning, or be an architect or civil engineer yourself. It takes a lot of multi-tasking, good communication skills, and good project management to pursue a career like this. It’s one of the more challenging career opportunities in real estate and one of the highest paying ones.
Real Estate Investor
Real estate investors are the ones who buy property from real estate developers. This is one of the career opportunities that don’t require you to have a license, but it is recommended. Being a real estate investor doesn’t only mean buying property. You also increase its value then sell your investments to make more money. As easy as it sounds, you can’t just invest in property blindly. You have to understand the market to maximize your profit. If you don’t, you could end up losing tons of cash. That’s why being an investor means being a risk-taker.
Here’s a tip: if you plan on being a real estate investor, refinance the mortgages on your property. By getting a refinance loan, you can get a shorter loan on your property and a lower interest rate. You can also cash-out the loan to improve your property and increase its value or use it to buy even more property.
Real Estate Marketing Specialist
If you’re more of the creative type and you don’t want anything to do with buying or selling properties, you could be a real estate marketing specialist instead. A real estate marketing specialist does everything an average marketing specialist would do but in real estate. That means handling social media platforms, creating digital or printed material, developing its brand, and getting your company discovered to make more sales. Being a real estate marketing specialist also doesn’t require a license.
Now that you know what each job requires, which of these career opportunities fits you best? Are you the type who likes to work with people directly, or would you rather be in charge of managing these people? Are you a risk-taker who is always observing the market, or would you rather be behind the scenes and away from the action yet making an impact? Take a good look at what skills you have and which skills you think you could be good at. You might find the right career for you.