Career Step Up published this excellent post on how many jobs are available in real estate investment trusts. They have given us permission to republish it here.
Recent years have seen several changes in how the world has started investing. Perhaps one of the most traditional fields to invest in is real estate.
Following the pandemic, there was a substantial paradigm shift in the jobs people were interested in, which impacted the number of job openings in the market. The audience’s preference for investing in traditional business sectors over pursuing new business ventures impacts it. A Real Estate Investment Trust (REITs) is one such area!
But exactly how many jobs are there in REITs? Is it a lucrative profession for those who want to live comfortably? How is one eligible for REITs jobs? What are the best-paying positions in REITS?
How Many Jobs Are Available in REITs?
Real estate investment trusts invest millions of dollars in the real estate market. A job in the REIT sector offers a wide range of experience that teaches the fundamentals of real estate investing and provides a respectable monthly salary.
A total of 308,000 employees work full-time for REIT companies. Furthermore, REITs are indirectly responsible for approximately 2.9 million full-time jobs. A REIT is accountable for all aspects of a real estate project, from development to investment management and property maintenance. This suggests that there is room for agents, project managers, and many other professionals.
REITs offer numerous employment opportunities. In comparison to other segments of the real estate industry, it has the potential to command a far higher salary. Here are some of the most well-paid jobs within REITs.
1. Asset Management
Asset management is one of the jobs in the REIT sector with the highest salaries. A REIT’s asset portfolio’s financial and operational success is under an asset manager’s control.
Most people start in acquisitions or property management and work their way up to asset management.
Alternatively, a person with the proper training and credentials can quickly get employment in asset management.
Collaboration between several departments, including acquisitions, finance, development, and accounting, is necessary for successful asset management.
Acquisition roles entail locating new investment options. Acquisition managers ensure they complete transactions promptly. The majority of REIT acquisition positions are well-paying and abundant. This role is open to anyone with a degree or skill in business, marketing, finance, or capital markets.
3. Property Development
Another way to earn money in this growing sector is to work as a real estate developer. A property developer manages contractors and subcontractors.
They work together to organize and monitor the construction of a new property.
A real estate developer must have a degree in civil engineering, architecture, business, or urban planning. They also need to possess the following skills:
- Extensive knowledge of the real estate sector
- A solid understanding of finance
- Strong organizational skills.
4. Property Management
In REIT positions, there are property managers, just like property developers. Property managers must adhere to fewer requirements compared to property developers. Selling or renting out properties at the best prices based on market rates and engaging with clients are the roles and duties of a property manager.
The following skills are vital for a property manager working in REIT to be successful.
- Customer support skills
- Finance experience
- Managerial abilities
- Marketing skills
- Problem-solving abilities
5. Investor Relations
The investor relations section mainly works with REIT shareholders to manage the communication flow. Their group is in charge of organizing and preparing for the annual meetings.
Investor relation managers usually get a high salary. Individuals must have a strong finance and accounting foundation and an undergraduate degree to qualify for the position.
6. Real Estate Property Appraiser
An appraiser determines the value of a commercial/residential property. Several market and economic factors impact the value of any property. Real estate appraisers note these factors to calculate the worth of the property.
Passing an appraiser training course and obtaining a license before working is a must for property appraisers. For accurate property assessments, the person must have a background in real estate, economics, finance, and other relevant fields.
7. Leasing Consultant
A leasing consultant represents the real estate sector and helps clients choose homes and properties that suit their needs and budgets.
It is an excellent place to start if someone wants to advance in their profession and take on positions such as marketing director. To thrive in this career path, the person must be thoroughly aware of the local real estate market.
Additionally, a candidate for this position must be proficient in marketing and advertising. Prior work in the retail/hospitality sectors may be useful because it helps improve soft skills like interpersonal communication.
8. Real Estate Investor
Investing in real estate trusts is one of the most lucrative career paths. The responsibility of a real estate investor is to acquire real estate assets, add value to them, and later resell them profitably.
While this is highly profitable, there are still some challenges. An investor must understand the ins and outs of buying properties and when to sell them for a respectable return. So extensive market study is required.
9. REIT Analyst
A REIT analyst works with the finance and real estate teams to purchase, sell, finance, and market properties. They assist in market trend research, analysis, and monitoring. They use their expertise to aid the company in making informed property-related decisions.
To construct financial models for the company’s current assets and acquisitions, REIT analysts must use financial tools to build financial models. Therefore, they should have exceptional knowledge of the financial sector.
10. Real Estate Attorneys
In REITs, attorneys are crucial. They act as a liaison between clients, sellers, and the REIT firm. Buyers and sellers must sign contracts to sell/purchase real estate, and attorneys act as a mediator on all parties’ behalf.
Attorneys solve litigation and legal issues concerning property ownership and transactions. They discuss title deed issuance, documentation, transfer, and other real estate-related legalities. Additionally, they offer legal advice to clients in both the consumer and corporate sectors. Ensuring everyone follows the proper protocols helps prevent disputes in real estate transactions.
REITs offer a wide range of career options. Some of the highest-paying jobs comprise investor relations, development and acquisition, and asset management. Each role has its own necessities and can provide a steady and consistent income.
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Disclosure: The author is not a licensed or registered investment adviser or broker/dealer. They are not providing you with individual investment advice. Please consult with a licensed investment professional before you invest your money.
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Tim Thomas has investments in real estate.
This post was produced by Career Step Up syndicated by Tim Thomas / Timothy Thomas Limited.
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