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Five Commonly Overlooked Jobs in the Real Estate Industry

Written by Posted On Monday, 07 January 2019 07:48

Traditionally, when one considers a career in the real estate industry, he or she might think immediately of becoming a real estate agent, and for good reason. There are currently around two million licensed agents in the United States alone. Yet, while this can be a rich and rewarding career, it is not the only path available within the industry as a whole.

 

Perhaps you’re looking for a job that will better fit your family’s structure. Or, you want one with more or fewer risks. Maybe, you’re seeking a flexible job you can approach at your own terms or conversely, you may want more structure than a traditional 9-5. Regardless, there are plenty of opportunities in real estate designed to fit any niche and need. Today, we’re taking a look at five careers you might not have considered before, but are definitely worth checking out.

 

1. Managing Broker

While people outside of the industry commonly interchange real estate agent with managing broker, the two are separate entities. The difference? A broker is a licensed real estate agent, but has advanced certifications and qualifications that render him or her capable of and qualified to run an entire real estate office, with multiple agents working under such guidance.

 

If you’re already in the middle of pursuing your real estate license, you might consider staying on and going down this route instead, as it can create more earning potential and prestige. This is also an ideal path for current agents to aspire to as they seek to grow and further their career.

 

2. Landlord or Property Manager

Does the idea of managing and overseeing one or more rental properties appeal to you? If so, you may consider becoming a professional landlord. While this can be a side job in some instances, if you devote enough time and attention to it, you can earn a solid full-time income in the process. From property managers who oversee entire apartment complexes or hotel chains to landlords responsible for a single-family home down the street, this career can take many shapes and forms.

 

The key to succeeding in this space lies in carefully vetting renters to ensure the properties are maintained as best as possible. It’s also key to communicate with tenants to stay abreast on any issues with the property that require attention, as this will fall into your duties. Resources such as this website can help prospective and current landlords learn as much as they can on this promising and rewarding industry.

 

3. Real Estate Investor

Do you enjoy financial topics? Are you interested in the stock market, portfolios and numbers in general? If so, you may enjoy a career as a real estate investor. In this arena, you can opt to either be a passive real estate investor or an active one. In the case of the latter, you’ll invest in properties to “flip” them and earn a profit. While it’s easy to watch a team on television do this and think it’s simple, keep in mind that it can require a significant amount of work and strategy, as you’ll have to ensure that the property will actually earn you income once you’re ready to sell it again.

 

If you go the passive route, you can help fund such real estate projects without having much involvement in the manual remodel effort yourself. Interested in getting your foot in the door with this opportunity, but lacking the funds to invest a large sum into a project? Today, modern crowdfunding platforms make it simple to contribute what you can and still see a return on your investment.

 

4. Commercial Real Estate Agent

Most people conjure up an image of a residential agent when they think of a real estate professional. Yet, there is also a great need for such expertise within the commercial sphere. In short, a commercial agent will work one-on-one with businesses to help them find office spaces and storefronts that are appropriately designed and located to help them generate as much revenue as possible.

 

As such, this job requires an extensive amount of research into the logistics and layout of a city or community. From a tech startup looking for a small space to work to a major restaurant chain searching for the ideal corner to set up shop, there are many considerations an agent may encounter. If you’re looking for a fast-paced, energetic career with a great payoff, this is one to keep in mind.

 

5.  Residential or Commercial Appraiser

At their core, these two positions are centered on the same idea. An appraiser evaluates a property to determine its worth. A private appraiser will work with homeowners to give them an idea of what a home is worth before they sell or buy it. Or, they might work on a government level and evaluate properties for tax purposes.

 

At the same time, a commercial appraiser will perform the same duties, only on storefronts and office spaces. He or she will rely on established appraisal practices to determine the worth of space. Both of these careers require specialized licensure.

 

Uncovering the Industry’s Opportunities

One of the greatest parts of the real estate is its breadth of offerings that can cater to a wide range of talents and interests. For example, someone who isn’t as comfortable working one-on-one with the public and assuming a forward-facing role might thrive as a passive real estate investor. Or, someone who enjoys working with business leaders and is passionate about the corporate sphere might land on the perfect position in commercial real estate. As you seek to learn more about the different opportunities available within this realm, consider your personal strengths and where you see yourself the most successful. Then, partner with the right mentors, pursue further education and keep your eye on the goal.

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