7 Different Roles in the Real Estate Industry: Which is Right for You?
It’s no secret that the real estate industry holds a lot of potential for career-focused individuals.
With that said, choosing the right role or career path can be a challenge; there’s simply too many to choose from. If you’re stuck, this article should help you find what you’re looking for.
7 Different Real Estate Careers You May Enjoy
In the real estate industry, you can become a commercial or residential investor, attorney, home inspector, wholesaler, and so much more.
Here are a few real estate careers you may enjoy.
1. Real Estate Agent
Real estate agents facilitate the home or commercial property buying/selling process for clients. A residential agent can specialize in single-family homes, luxury properties, or condos, whereas a commercial agent can niche down to office buildings, retail spaces, or self-storage lots.
To become a real estate agent, you have to take a pre-licensing course and licensing exam. Once you pass, you can activate your license and join a real estate brokerage. Agents can choose to become a realtor (for some added benefits) or study to become real estate brokers.
2. Real Estate Attorney
Real estate attorneys help finalize various real estate documentation and sort through real estate-based disputes. To become a lawyer, you have to pass the LSAT and spend 6 to 8 years in school, but it’s worth it in the end, as real estate attorneys make $120k per year on average.
3. Real Estate Developer
Real estate developers are professionals who buy land and build property on top of it. They’re in charge of planning and coordinating the construction of these buildings, financing them, and creating a team to execute their plans. Developers don’t require a degree, but it helps.
The software can also make it easier for commercial real estate developers to succeed. Over at Northspyre, you’ll find an intelligence platform that helps development teams leverage automation and data analytics to form predictable outcomes on all of their projects.
4. Real Estate Investor
Real estate investors buy and sell land for the purpose of making a profit. You don’t need a degree to get started, but you should be comfortable with taking on risks and negotiating. If you start your journey on crowdfunding sites, you can grow your portfolio for less than $1000.
5. Property Manager
Property managers are an off-shoot of real estate investors, as many investors are also property managers. However, if you’re an investor who doesn’t want to take on the manager role, you’d hire a property manager to look after the financial and physical well-being of your properties.
To become a property manager, you need to have a broker license (unless you live in a state that doesn’t require one). Since it’s your job to ensure tenants are satisfied, you’ll need strong customer service and managerial skills. It also helps to learn about facility operations.
6. Home Inspector
Home inspectors examine and inspect real estate properties for defects and damage. Home inspectors are an integral part of the buy and sell process, so you shouldn’t have a problem finding work. Some states require a home inspection license, while others don’t, like California.
7. Real Estate Wholesaler
Real estate wholesalers take distressed properties and flip them for a profit. While it’s similar to a fix-and-flip strategy, your typical wholesaler doesn’t fix the property themselves. Instead, they’ll vet, price, and hire experienced contractors and renovation specialists to do this work for them.
If you don’t have the financial means to break into the real estate market but still want to own the entire property, being a real estate wholesaler would be the best option for you. While it takes some time to see a significant profit, you’ll eventually reap the rewards as you grow.