Contrary to popular belief, jobs in real estate are highly specialized and diversified and not limited to only the five most interesting jobs within the real estate field. Not many other industries have as great a variety of jobs to offer as those found in real estate. There are positions for financial analysts, customer service positions, investment opportunities, building and development just to mention a few.
Working in real estate has added advantages. It allows you to set your own schedule and your income is totally reflected in your efforts. Dedicated workers in real estate can earn just as much as people in other high profile fields. Other than high earnings, rewards of a career in real estate field include independence, community status, intellectual challenge, opportunity to meet people and self-satisfaction.
Five Most interesting Jobs Within the Real Estate Field
- Real Estate Broker : Residential/Commercial
When people think real estate the first thing that comes to mind is that of a broker. This is the most basic service provided in the field. While a residential & commercial broker do the same type of work, they are actually considered to be two different fields. Agents need to be familiar with real estate law as it pertains residential or commercial venues, local economics, government programs for residential properties, types of financing possible etc. The job of a broker is commission based and the agent can serve to both buyers and sellers. On average a commission of about three per cent of property value is charged from both parties.
If you start with an incredible drive and learn from the best you can become a luxury real estate agent. Mary Lu Tuthill, who specialized in the Brentwood Real Estate market, attributes her success in her hard work and sincere care for her clients.
There are currently over 400,000 real estate agents in the U.S. Anyone over eighteen years of age with a high school diploma can become an agent after successfully completing the training course and obtaining a license.
- Property Management:
The job of a property manager is to generate the greatest possible monetary return over a long period of time. It is the duty of the property manager to protect the owner’s investment. This can include commercial buildings like shopping centres or office buildings or residential buildings like condominiums, apartments or even homes owned by an investor.
The Institute of Real Estate Management offers two designations for such managers, Certified Property Manager and Accredited Residential Manager. The duties of a property manager include:
- Marketing the property to find tenants
- Negotiating leases & collecting rent
- Arranging repairs
- Representing owners at tribunal hearings.
- Real Estate Counseling:
Real estate counsellors use their knowledge of the market and help investors select properties most likely to go up in value. Additionally they make suggest management recommendations after the property has been purchased. The field requires continuation of education in financial management.
- Construction & Land Development:
A rather challenging field that requires turning land into something that can be marketed and is profitable. It can include commercial venues, residential properties or industrial projects. Starting with the need for the project to selection of site, layout and finally the actual building are all handled by specialists in the construction and development field. They also oversee the construction in addition to arranging financing and carrying out cost analysis. This field has to be one of the riskiest out of the five most interesting jobs within the real estate field.
- Real Estate Appraisal: In simple terms an appraising agent establishes the value of a given property. However, there are many types of values like present value for possible investors, assessed value for taxes, rental value for projection of incomes, and book value for accounting uses. Such agents need to have broad knowledge of accounting, economics, mathematics in addition to practical experience and technical education.