Across the world, real estate is an essential industry that is there to stay. The real estate industry is a complex one that does not only involve buying and selling properties. It requires management and investment in real estate properties, including homes, office buildings, land, and industrial properties.
Because it is such a huge industry, people are encouraged to choose a career in real estate. Aside from real estate agents, other career paths can be selected when entering the industry.
Real Estate Careers
The National Association of Realtors discusses the different careers one can choose when entering the real estate business. These careers include property management, counseling, land development, and appraisal and research. To enter the profession, one needs proper licensing, depending on the state a person is in.
Usually, the entry-level to the industry is by being a sales trainee in a real estate brokerage firm. Other entry-level positions are listing agents or office assistants. While working in the industry, individuals can take additional educational courses so that they can have a specialization in the field.
Residential and commercial brokerage
When one enters a career in residential brokerage, they will typically help clients buy and sell homes. This real estate agent must not only know how to talk to clients but must also be aware of existing real estate and fair housing laws. They must also be knowledgeable about different financing programs to help clients finish a transaction fast and trouble-free.
Commercial brokers, on the other hand, deals with properties that produce income for the client. Types of commercial properties include apartments, retail shops, and shopping centers. An expert commercial broker must know the area’s potential where the commercial property is situated to ensure that the client will get a high return on investment.
Real estate developer
A real estate developer is a person or an organization that takes a property to improve, sell, or rent out. To improve a property, a developer sometimes acts as a contractor. A general contractor takes care of the structure’s construction and interacts with subcontractors.
Being a real estate developer also involves dealing with and employing other professionals that have expertise in specific tasks involved in development. These professionals include legal and tax experts, engineers, architects, subcontractors, and real estate brokers.
Real estate appraisers
These professionals are the ones to call for property appraisals. A real estate appraiser is employed by property owners for different reasons. A potential property investor, for instance, may wish to know the investment or present value of a property. Some may want to assess the value of a property for tax and accounting purposes.
Real estate appraisers must have the proper technical knowledge, practical experience, and sound judgment to properly appraise a property’s value. These professionals are usually knowledgeable in economics, mathematics, and accounting, too.
Why choose a career in real estate?
Because real estate is such a big industry, there are endless choices for a career path. At the same time, there are other reasons to choose to be a professional in the industry, including great financial gains, flexibility in working schedule, and a chance for exponential growth.
Usually, a real estate job does not have a fixed monthly salary. It depends on the work you are willing to put in. Sometimes, one can go months without a salary, but they earn big when one gets a sale.
The greatest thing about being part of real estate is that one can have unlimited earnings. Your effort is the limit, and when you get a big sale, your earning can reach up to five digits.
When you are a real estate agent, you have your own schedule. You don’t work from 9 to 5 like other office jobs. Instead, you set a schedule that would work for yourself and your clients.
In general, the real estate industry is very flexible whether one works in a large firm or not. Because you are the one who sets up your own timeline, there is no need to ask anyone if you can take a vacation: you are your own boss.
However, to be efficient with the job, one must be responsible enough to know when it’s time to work and when it’s time to deal with personal stuff. This is called proper time management; it is needed to ensure success in the real estate industry.
In life, people wish to see growth. In the real estate industry, exponential growth can be achieved. One can start as a part of one real estate firm then eventually build their own real estate business.
The most important thing about starting a real estate business is building a great client base more than finances. With a good, loyal client base, you are on your way to financial success.
The real estate industry will live on
Lastly, the real estate industry is strong. As the demands for houses, offices, retail stores, shops, and other properties exist, the real estate industry will continue to exist. Therefore, the chances for career opportunities in the business will never stop, too.