The Top 5 Most Interesting Careers in Real Estate
The real estate industry has been around forever, and you may be familiar with some of the more traditional positions in the field—such as appraisers, mortgage brokers, and real estate agents—but there are plenty of others that are equally interesting. Here are 5 of the most fascinating careers in real estate!
Real estate developer
A real estate developer is someone who takes an idea for a building and turns it into reality. It’s not just about building structures—they need to be able to market those structures and make them attractive enough to sell. Although it’s true that many developers have engineering degrees, there are plenty of non-technical roles available in construction as well.
Inspectors are primarily concerned with safety, so you need to be meticulous and have a deep understanding of your local building codes. For home inspection, you’ll have to become an expert on mortgages and real estate; it’s a good idea to start learning how banks work, how lenders operate, how long homes are on the market (and when they tend to sell), what foreclosures are, etc.
As a property manager, you’ll coordinate and manage all building-related functions. This includes managing employees and contractors, budgeting and maintaining your investment, implementing safety procedures to protect your tenants, enforcing leasing agreements and collecting rent. You may also take on an advisory role for small businesses in your community. While working with these clients, you can provide guidance on any real estate questions they may have or refer them to additional professionals.
A Broker is an individual who facilitates real estate transactions. A broker will represent both a buyer and a seller, finding properties that meet both parties’ criteria and helping to negotiate a fair price. The main role of a broker is to guide buyers through each step of purchasing property, from home search to negotiation and transaction. In addition to brokers, there are also licensed sales associates, who can negotiate but aren’t able to conduct all activities related to closing a deal.
A career appraiser’s salary varies based on factors like region, experience, and skill. The U.S. Bureau of Labor Statistics (BLS) reported that real estate appraisers earned an average of $49,060 annually as of May 2014 (www.bls.gov). Like attorneys, appraisers have to complete 4 years of college before they can get certified and licensed to practice their profession – a credential which increases their earning potential.