Real estate is a vast industry, with a huge variety of different career paths available for just about any type of person, from assisting with the purchase to property management, or the sale of properties. You may have heard all the different job roles, but do you actually know what they entail? For example, do you know what a broker does? Companies like Compass Real Estate are a brokerage company that works with real estate agents to provide unique and bespoke packages meaning that they employ a wide range of different professionals to support their services – read more here. But specifically what career path would be right for you if you decided to make the move to the real estate industry?
Real estate manager
Real estate managers assist with the listing and sale of properties on behalf of the owners. Their job is to help their clients to maximize their return on value with any residential or commercial property sale. They perform market research, perform due diligence on the property, market the property, and negotiate property agreements.
A leasing consultant’s job is to meet with potential renters and show them the available properties, explain lease terms, and provide tours of the property. Leasing consultants often help current renters by scheduling maintenance and processing lease renewals.
Escrow officers manage a wide variety of admin tasks associated with the sale of a property. Funds held in escrow are held in a legal holding account until particular terms are met as part of the real estate transaction – the escrow officer is responsible for overseeing and distributing these funds.
Residential real estate agent
A residential real estate agent is responsible for helping clients with the purchase or sale of homes. They evaluate the market and offer advice based on current conditions, they walk buyers through the properties, and they help them to find the right piece of real estate that meets their individual needs. They list, market, and show the properties, and they can also specialize in particular properties like condos, family homes, luxury homes, and starter homes.
Commercial real estate agent
Commercial real estate agents perform the same duties as residential real estate agents, except they help clients purchase or sell commercial real estate. This includes office buildings, retail properties, and industrial buildings. A commercial real estate agent needs to have specialist business and finance knowledge, and due to this extra knowledge, they can earn significantly more than residential real estate agents – in 2017, commercial agents earned twice as much as residential agents.
Real estate broker
A real estate broker has many of the same responsibilities as a real estate agent, but real estate brokers are more experienced and have the ability to manage their own businesses. Real estate agents must work for a broker, but real estate brokers can choose to work independently or start their own brokerage and hire real estate agents.
Real estate assistant
A real estate assistant handles administrative tasks for real estate brokers and agents, including answering phone calls and emails, posting property listings, and handling important documents. Since real estate assistants don’t need a license (unlike agents and brokers), this is a great way to get into real estate and gain experience.
It is the responsibility of a home inspector to conduct inspections of real estate properties in order to inform potential buyers of any possible issues. They look at the plumbing and electrical systems, water quality, interior and exterior structures, roofing, attic, HVAC systems, flooring, and other aspects of the home. They give the potential buyer a full breakdown of the condition of the property and offer advice on the best ways to improve and care for the home.
Real estate appraiser
A real estate appraiser assesses the value of a property and will typically specialize in either commercial or residential properties. They will thoroughly inspect and photograph the entire property, evaluate the location, and compare the property to similar ones in the area to determine the appropriate pricing.
A title examiner’s job is to make sure that real estate titles do not have other claims on them before a property is sold to a new owner. A title examiner searches public records and prepares all the necessary documentation to help guarantee the legality of the title.
Real estate attorney
Real estate attorneys help their clients with the legal processes involved in buying or selling a property, and they perform tasks such as preparing and reviewing documents that are signed at the closing of the sale, representing their client’s interests, and advising on any problems in the paperwork. Real estate attorneys also help solve property disputes.
Real estate investor
One of the most lucrative career paths in real estate is becoming a real estate investor. Investors buy real estate, improve the property or land to increase its value, and then sell their investment for the maximum profit possible. Flipping properties can be a risky investment, so a good real estate investor needs to understand the real estate market and know exactly how to add value to a property in a cost-effective manner.
Real estate developer
A real estate developer buys land and coordinates the building of properties (residential or commercial) on this land. This means that they must work with architects, builders, lawyers, engineers, and many other professionals to execute these huge development projects. As a result, real estate developers must be highly experienced and have strong leadership, planning, and project management skills to succeed.
There are so many career paths to choose from in the real estate industry. Careers in real estate also generally have high salaries, which is why many people decide to switch careers and pursue a job in real estate each year. For example, real estate agents have no barriers to how much they can earn, and they also enjoy a lot of flexibility in terms of working hours. As a result, a career in real estate can help you achieve a better work-life balance and therefore more satisfaction in your personal and professional life. So, if you’re considering a career in real estate, check out the many options listed above and research the career path that interests you the most.