While real estate may involve dealing with housing and other land properties, there are many careers in this particular field. The real estate industry is fast becoming a career path for the future, with many people investing in this business and, as such, creating a lot of job opportunities for many. For one to qualify to work in real estate, they do not require much higher educational qualifications, but some may also request some form of education.
Aside from getting some form of educational requirement for obtaining a career in real estate, another important factor is getting the required license to be able to operate in this field. Coupled with the license required, there are also real estate laws that are peculiar to different countries and states and so it is of utmost importance to familiarize oneself with these laws before commencing the job.
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Highest Paying Jobs in Real Estate
Oftentimes, when people think of careers in real estate, jobs as a real estate agent come to mind. This is definitely false, as there are many career fields in real estate that pay pretty well annually. Some of the jobs in real estate are based on commissions from sales made, while others have a fixed salary rate. Whatever career you wish to take on, it will definitely depend on your expertise and area of interest in the real estate industry.
Below are some of the highest-paying jobs in real estate.
1. Property developer:
This job allows the developer to purchase many properties which could be land, houses, and so on, and in turn, retain them till the value of the property increases over time. This job is one of the highest-paying jobs in real estate with a lot of returns over time. On average, property developers can make about $114,848 as profit after sales.
2. Real estate agent:
This is one of the most common jobs in the real estate industry. The real estate agent is one who buys and sells properties for their clients. Normally, the salary of the real estate agent is dependent on the number of properties they sell and buy, which is usually about 1% or 5% of the total cost. The average annual income of these professionals is around $40,772 to $53,087, which could be more depending on the market and sales generally.
3. Real estate appraiser:
This is also a property valuer and is in charge of doing research about a particular property and giving estimations on the property’s worth. Most of these real estate appraisers work for real estate companies, banks, and other private firms for their services. According to the Bureau of Labour Statistics, a real estate appraiser makes about $57,000 as an annual salary.
4. Zoning manager:
A zoning manager enforces and reviews the local zoning laws on property, which could be commercial or residential. Zoning managers can work for the government or a company. In the case of the company, the job description of the zoning manager is focused solely on ensuring the company’s activities on properties do not go against the zoning laws of the country or city. On average, zoning managers get $99,963 to $125,007 annually.
5. Lease manager:
This person usually assists a company or property owner in managing their properties. The lease manager oversees the documents, expenses, budget, compliance, and other forms of paperwork related to such properties. The Bureau of Labour Statistics states that lease managers get about $58,760, which could definitely go higher depending on the market and property value.
6. Real estate broker:
People sometimes confuse this job with that of the real estate agent, who is quite different. A real estate broker is more professional and requires a license to work as one. Furthermore, a real estate broker is capable of owning a brokerage firm, which in turn employs many real estate agents to work under it. Additionally, a real estate broker usually gets between $38,170 and $196,775.
7. Foreclosure specialist:
The foreclosure professional is usually employed by big corporations, such as banks, to assist in the documentation of houses that need to be foreclosed. The foreclosure specialist is also involved in reviewing the client’s financial statement and endeavors to suggest ways in which the house can be resold at a higher value. The annual salary of a foreclosure specialist ranges between $36,206 and $51,580.
8. Real estate attorney or lawyer:
This is another great career in real estate and this person advocates for tenant rights, providing legal counsel or advice to clients on purchasing any real estate property, and so on. The standard salary range of a real estate attorney is approximately $127,877 to $162,518 annually.
9. Marketing managers:
Just as any marketing job entails the search for potential buyers, so too does the job description of real estate marketing managers. This person focuses on promoting and running campaigns that end up being profitable to potential buyers of the properties. Approximately, marketing managers earn about $115,000 in annual income.
10. Property investor:
A good amount of income can be made from investing, provided the investor is familiar with the ropes and knowledge of real estate and how to invest in properties. A property investor often acquires many properties, which in turn are sold at a higher monetary value or rented out to tenants for the long term. Property investors can make a decent income of about $85,000 or more.
These sets of professionals are very important in the real estate industry. The builders earn, on average, about $115,000 or more, depending on their level of experience over the years. A builder could work in construction, project maintenance, management, and so on. The builder’s job encompasses all forms of property building and maintenance.
12. Property analyst:
This job is one of the highest-paying jobs because it earns about $95,634 annually. The job description of a property analyst is providing financial analysis, acquisition, and marketing for leasing a property. Their professional advice is in demand by big firms and companies that are trying to make sure their properties are intact and stable.
13. Commercial leasing manager:
This individual is said to have a watchful eye, that understands and notices key market changes, which is good for the property owner. A leasing manager is often in an office space or storefront, where he or she can determine changes in market trends. This person earns approximately between $63,231 and $98,081.
14. Leasing consultant:
This person’s main duty is to make sure there are tenants in the building all the time, from making promotional awareness to staying up-to-date with some of the latest real estate market trends. A leasing consultant is a lucrative job that could also take up most of your time. Depending on the company and sales generally, a leasing consultant can earn between $27,226 and $33,442.
15. Home inspector:
For a home inspector, the salary is not quite as much as others in this field, but it could also provide a basic income and it is mostly used as a part-time job. The job description of a home inspector is centered on reviewing and recommending the property by writing reports, which may also include an evaluation. To be a home inspector, there is no need to obtain a license to operate; all that is required is to know the basics of the property structure, as the report is based on that alone.
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How to Get Started in Real Estate
There are guidelines that one must follow to achieve success in every field; among such guidelines are the following four steps that would help you on your real estate journey: Read on!
- Familiarize yourself with the licensing rules
You need to get familiar with the licensing rules of the particular state or city where you wish to start your career in real estate. There are, of course, some careers in real estate that do not require a license so it is important, first of all, to understand the type of job you want to undertake before commencing any.
- Pass a licensing exam
If your career path needs a license, get one by passing the license exam in your state or at the federal level. After successful completion of the license exam, you are ready to work
This will also help you Start a Career in Real Estate
- Familiarize yourself with the state laws
it is important to familiarize oneself with state laws since they are unique and vary from one state or region to another.
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In conclusion, real estate is a very lucrative career that allows people to make a decent living out of it. Real estate is not basically the only job opportunity in the real estate industry; the list goes on. The income is again dependent on the level of experience and expertise in the field. Above all, real estate is certainly a career path for the future.