How Many Jobs Are Available In Real Estate Investment Trusts?
308,000 people are employed full-time by enterprises that invest in real estate. Additionally, almost 2.9 million full-time employees are directly employed by real estate investment trusts. Employment prospects in REITs are predicted to grow by about 10% yearly. A business degree is required for 30% of all REIT positions to start at the managerial level.
How Many Jobs Are Available In Real Estate Investment Trusts? The range of compensation varies depending on the position. It can range from $46k to $69k for an administrative analyst to $89k to $101k for an accounting manager, for instance.
What Are The Available Jobs In REITS?
When seeking how many jobs are available in real estate investment trusts (REITs), you’ll come across the following positions:
Asset Management:
In the REIT business, asset management is a well-paying position. You will be in charge of the REIT’s operational and financial stability as the asset manager. Most people start their careers in either acquisitions or property management before transitioning to asset management.
For individuals with the necessary abilities and credentials, there are several asset management positions accessible. Asset management involves the funding, development, accounting, and acquisition of assets.
As an asset manager, you will be responsible for managing the daily operations of the portfolio you are given, creating and implementing strategic plans, creating reports and presentations, and collaborating with other members of the REIT management team to achieve the company’s objectives.
Investor Relations:
The real investor relations division serves as a conduit between shareholders and the business. They are in charge of managing all lines of communication and informing shareholders about the business.
They inform shareholders on the company’s financials, performance, and future goals in order to be ready for the annual meeting. As a result, the salary of a middle manager in investor relations is rather substantial.
If you have a bachelor’s degree and a strong background in accounting and finance, you may be qualified for this job. Managers of investor relations are crucial in ensuring that shareholders are informed about the business and its future goals.
Without them, investors would not be informed of developments at the firm they invested in.
REIT Analysts:
A REIT analyst’s job is to do market research on the real estate sector in order to assist their organization in making investment decisions. Since one needs keep an eye on market trends to decide which real estate properties to buy or sell, this profession incorporates parts of both the finance and real estate industries.
In order to value possible acquisitions and current assets, analysts must employ a number of financial instruments, which makes financial modeling an essential part of their job. As a result, having a firm grasp of financial principles is crucial for this position.
An undergraduate degree in business, management, or a closely related discipline is the bare minimum educational need for this role, as is familiarity with both micro and macro trends in the local real estate market.
Property Development:
The best approach to enter the quickly expanding sector of property development is through a profession in real estate development. You will direct the building of new buildings from the early planning phases to completion as a real estate developer.
Working closely with contractors and subcontractors will be necessary to make sure that all work is completed in accordance with specifications. You’ll also need to make wise financial judgments and have a solid understanding of the local real estate market.
Your hunt for how many jobs are available in real estate investment trusts will come to an end if you have excellent organizational skills and the ability to multitask.
Acquisitions:
Finding fresh sources of funding is necessary for buying a real estate investment trust, or REIT. These roles ensure that the business completes transactions on schedule.
Although it is difficult to find a position in REIT acquisition, the pay is fantastic. Anyone with experience in sales, management, banking, or the stock market is eligible to apply for this role.
Locating possible sellers, negotiating purchase pricing, and supervising the due diligence process are all duties of the REIT acquisition expert.
Before applying for this kind of work, you need to have a thorough grasp of the REIT business because REIT acquisition is a highly technical and specialized subject.
Real Estate Property Appraiser:
To succeed in this discipline, appraisers need to have a sharp eye for detail and in-depth market knowledge. To determine its worth, they conduct an inspection of the property, taking into consideration its special qualities, and review recent market trends.
Because the real estate market can be unpredictable, appraisers must regularly update their knowledge of regional and national trends to guarantee the accuracy of their evaluations.
In addition to choosing to evaluate both residential and commercial properties, appraisers might specialize in one or the other.
They must constantly be up to speed on the most recent market data to estimate the worth of each property they evaluate.
Property Management:
Property managers are there to help real estate investors. Property managers fill the role of continuous management for developers who construct and hold the properties as a means of real estate investment.
The day-to-day management of a property is the responsibility of a property manager, who also handles maintenance problems and rents out apartments. Property managers ensure that current properties are operated efficiently while developers concentrate on creating new properties.
To succeed as a property manager, you must possess outstanding customer service abilities. You will be the one interacting with renters on a regular basis, thus you should be ready to handle a variety of problems.
Leasing Consultant:
Leasing consultants are the public face of the real estate industry. You assist customers in selecting homes and properties that meet their needs and budget. For this job, you need to have communication, marketing, and advertising skills.
Knowledge of the local real estate market at a deep level is necessary for success in this career path. A job as a leasing consultant can be ideal for you if you have the required abilities and desire a challenge.
Real Estate Investor:
Although it’s a great method to acquire money, investing in real estate is not without its difficulties. For an investor to turn a decent return, purchasing real estate and having ideal timing are essential. Therefore, thorough market research is needed. Otherwise, it’s possible that you’ll lose money rather than gain it.
You must first clearly identify your financial objectives. Are you wanting to flip houses for a profit or are you aiming to generate passive income? Once your objective is clear, you may begin researching various investing techniques.
For instance, some investors favor purchasing houses that require remodeling in order to sell them for more money. Others concentrate on investing in real estate in locations with significant future development potential.
Real Estate Attorney:
Because they are often set up as trusts, which means that a trustee oversees the property on behalf of the trust’s beneficiaries (or the investors), REITs rely significantly on attorneys.
In order to work in the beneficiaries’ best interests, the trustee must make sure that all legal criteria are followed. Thus, the trustees are under pressure to select recognized and competent attorneys to assist in managing the trust.
Although relying on attorneys might be risky, it also has significant advantages. The initial beneficiaries of REIT services are customers and vendors. As a result, in order to own property, owners must sign contracts.
Real Estate Appraiser:
A real estate appraiser’s main duty is to establish the appropriate value of a property in order to ease real estate transactions. Numerous variables, including economic, political, geographic, supply and demand, and others, affect a property’s value. So, in order to make the best choice, you must consider all the relevant elements.
Additionally, because of how unstable the real estate market is, they must keep up with current market trends to guarantee that their evaluations are accurate. You must possess a keen eye for detail and in-depth market knowledge if you want to succeed in this position.
To determine the appropriate assessment, you must examine the property, taking into account all of its distinctive features and analyzing recent market trends.
A real estate appraiser has the option of working with contractors in addition to the positions that are typically accessible in assessment businesses. One of the top positions in the real estate investment trust industry is this one.
If you can keep current and have extensive understanding of the sector, you can specialize in either commercial or residential properties; you can even decide to assess both types of buildings. A real estate appraiser typically makes between $60,000 and $65,000 per year.
Real Estate Managing Broker:
More than 50,000 people are working as real estate brokers in the US at the moment, making this a fantastic career profile. You should be aware that a real estate broker and agent are two distinct titles or profiles. Brokers are licensed real estate professionals equipped to manage a company with several agents.
Whether it is a rental property or a sale/purchase of real estate, they are skilled negotiators. If you are a skilled negotiator, this job profile is ideal for you.
It is preferable to have several certificates in your name and pass the required qualification exam if you want to operate independently. If you want to recruit agents or brokers to work for you, you will still need to obtain a higher-level license, even if you already have one as an individual broker.
Remember that using untrained agents might put you at serious risk, therefore you should never do it. A broker often makes six figures a year, which is a respectable salary. As their knowledge and abilities advance, they may be able to earn more.
Why Choose A Career In REIT?
You may pool your funds with other investors to buy a portfolio of rental properties using REITs. When the properties are sold, there may be the possibility of capital gains as well as a steady income stream.
It offers several advantages to investors, including as the possibility for high income, diversification, and long-term capital growth.
Additionally, REITs provide substantial tax benefits. A REIT investment may qualify you for favorable tax treatment, which might result in financial savings for you.
What Types Of REITs Are There?
About 225 REITs with a combined market value of over $1 trillion are listed with the Securities and Market Commission (SEC) and traded on a significant American stock exchange.
There are two main types of REITs:
Equity REIT:
Physical assets are the main source of income for an equity REIT. The business buys, builds, and finances real estate, then rents it out to make money.
Equity REITs are typical real estate businesses since the majority of their income is derived from tangible assets. They operate and own a comprehensive stack of businesses.
Instead of hiring a third party to manage the property, equity REITs do it themselves. They frequently select an outside firm to look after the assets.
Mortgage REIT:
A separate category of real estate investments are mortgage REITs. Mortgage REITs buy mortgages or mortgage-backed securities, as opposed to equity REITs, which invest in real estate.
Like exchange-traded funds (ETFs) or mutual funds that a person may already own, they can be either residential or commercial, and the majority of them are traded on significant stock exchanges.
Mortgage REITs may be a beneficial tool for portfolio diversification because they often offer a greater dividend yield than equity REITs.
Is A REIT Industry Job For You?
It’s important to be aware of your eligibility before examining the amount of positions offered by REITs.
How can you tell if working in the REIT sector is the correct choice for you? Here are some things to think about:
Education And Skills:
A bachelor’s degree in real estate or a closely related discipline is needed to work in the REIT sector. You’ll also need to have excellent research and analytical abilities.
Experience:
Prior to seeking employment in the REIT sector, it is advantageous to have real estate industry expertise. You would advance if you worked during your college years through internships, summer jobs, or even part-time employment.
Certifications And Licenses:
To operate in the REIT business, you would require a real estate broker or agent license. Additionally, CPA certification is a requirement in several states for REIT workers.
Useful Traits:
Anyone interested in a job in the REIT sector may find it useful to possess certain personality qualities. These include the ability to multitask, organization, and attention to detail.
Conclusion:
Real estate and related jobs in this industry will always be in demand.
In the upcoming years, a number of positions will need to be filled due to the REIT industry’s continued development. Once you are employed in the REIT sector, switching to a better-paying or more ideal employment would be simple. We trust that this information helped you make an informed decision about whether REIT is the best career path for you.
You should also read about
