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Understanding the Types of Real Estate Jobs

Real Estate JobsIf you watch any of the cable shows featuring celebrity real estate agents finding clients’ dream homes, flipping houses, or negotiating million dollar deals, you would have no idea that there are actually many types of jobs in the real estate industry. From those on the front line, such as real estate agents, to those who work more behind the scenes to ensure transactions can be executed seamlessly, there are many opportunities to consider. If you’re contemplating launching a career in the real estate industry, it’s well worth your time to explore the many career options available.

Residential Real Estate Agent
For those who have a love of sales and working directly with clients, becoming a real estate agent may be a great fit. These are independent sales professionals who typically contract their services to brokers, in exchange for a commission-sharing agreement. In most states, prospective agents must take a certain number of hours of classroom training, as well as pass a written test on property laws and real estate transactions.

Once licensed, the next step is finding leads. By joining an agency, you can gain access to qualified leads, marketing assistance, and office space. It can also help build credibility to be associated with a name-brand agency that is respected in your local community.

Residential Real Estate Broker
If you love selling as well as managing others, you might consider becoming a real estate broker. Most states allow agents who have three to five years of active licensed experience to apply to become a broker. There is also additional classroom training required.

Once you’re licensed as a broker, you can hire agents to work with you to sell to a larger pool of clients. This is a great way to increase your income, as well as get your name established in a particular community. As a residential real estate broker, you will want to develop a marketing plan and utilize multiple forms of outreach to attract buyers and sellers. This may include social media, direct mail, a website, and print advertising.

Real Estate Appraisal
Are you more of a behind the scenes type who enjoys numbers and analysis? A career as a real estate appraiser might be a good fit. In this role, you’ll determine estimates of property values for the purpose of a sale or refinance. Like real estate agents and brokers, appraisers must complete core curriculum and pass an exam before being licensed. A newly-licensed appraiser will typically work under a more practiced appraiser to gain experience before working solo. Often, new appraisers are hired by banks or larger appraiser firms. It’s important to note that the need for appraisers is largely determined by the state of the real estate market. Appraisers are oftentimes most needed when the real estate market is slow.

Property Manager
Many property owners require professional property managers to negotiate leases and ensure tenants are paying their rent and the property is properly maintained. There are many opportunities at all levels of property management — from leasing agents in multi-family communities to portfolio managers who handle all aspects of multiple properties. Working in property management utilizes a wide range of skills and is often very satisfying for those who like varied tasks and working directly with both property owners and tenants.

Commercial Real Estate Agent
When you think of real estate, you may be first thinking of homes and condos. However, there is also plenty of work in commercial real estate — marketing office buildings, retail spaces, hotels, and other commercial properties. To be successful in this realm of the real estate industry, you not only need to be well-versed in managing real estate transactions, but you also need to have a deep understanding of the industries and local markets you serve. There are specialized licensing requirements for commercial real estate agents in most states.

Real Estate Entrepreneur
Some of the richest individuals in the United States grew their fortunes buying and selling properties. However, becoming a real estate entrepreneur isn’t a career to jump into. Often, the individuals who are most successful at real estate entrepreneurship are those who are seasoned industry professionals. They know how to time the market and make necessary improvements to properties to sell them at a premium. To become successful, you need to work hard, take risks, and have plenty of luck. For those who do, the earnings can be very impressive.

Before launching any career in real estate, it’s well worth the effort to explore all of your options. While becoming a real estate agent may be the most obvious choice, it may or may not be the best fit with your skill set and personality. By learning about your options, you’ll have deeper insight to choose the right career for you.

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