The real estate industry is always growing. Every year, there are more units, more people, and more properties being bought or sold. This growth extends to the residential and commercial real estate market, with large quantities of properties being bought and sold every year. To handle the influx of real estate transactions in the market, different types of real estate specialties have emerged.
The types of jobs in real estate industry include advanced, executive-level positions and those at entry-level. Each real estate job involves various responsibilities and requires different skills. To learn more, here are the fourteen types of jobs in the real estate industry:
Type #1: Real Estate Broker
Although a real estate broker is often misidentified as a real estate agent, these are actually two separate jobs. Real estate brokers are further educated than their similar counterparts. A broker can manage a real estate office with multiple real estate agents working underneath. Assuming you are already an agent and are looking for the next step in a real estate career, working in a real estate brokerage is a natural next.
Type #2: Real Estate Agent
Real estate agents are professionals who specialize in selling and buying property. They represent buyers and sellers in real estate transactions. They earn income through commission via sales. To become a real estate agent, one has to be licensed. They form your first-level of real estate employment.
Type #3: Real Estate Attorney
There is a lot of legal work that goes into real estate transactions and paperwork. Though an attorney falls somewhat outside the parameters of the real estate industry, it is still highly valued and worthy of inclusion from where we’re sitting. Furthermore, a real estate attorney can specialize. Some handle tenant rights while others oversee major commercial real estate transactions. So long as you don’t mind the education, there’s always a demand for attorneys.
Type #4: Real Estate Investor
A real estate investor buys and flips properties. This is known as an active investor. A passive investor, alternatively, is someone who invests in a real estate project without handling any of the day-to-day management. Evidently, to become a real estate investor, one must have a lot of money.
Type #5: Property Manager
A property manager is tasked with ensuring a property makes money for the owner. They may outsource some of the tasks that go into this or self-manage. They are most common in commercial properties, such as to aid in the sourcing of tenants and in the upkeep of a given property.
Type #6: Leasing Consultant
A leasing consultant is one such job that a property manager might outsource to. A leasing consultant ensures there are tenants in a building with rentable units. They typically handle marketing and negotiating leases, using various online channels to do so. Like other jobs in the real estate industry, leasing consultants are separated into both residential and commercial categories.
Type #7: Property Developer
A property developer is a person or corporation that purchases a block of land to generate income from it. These are typically vacant, underdeveloped lots in viable locations. They often oversee the sale of land to local builders, handle permits, and manage the financial risks that come with such land.
Type #8: Property Valuer
A property valuer is someone who is tasked with estimating the market value of a property. They have extensive knowledge of local market values and trends in the local area. Property valuers find work in residential, commercial, and industrial real estate. It is considered a specialty in the industry.
Type #9: Property Appraiser
Property appraisers work in residential and commercial properties but are often hired by the property seller rather than a brokerage or agent. Appraisers appraise properties to determine a selling price, mortgage price, or for tax purposes. This requires a license. With commercial properties, an appraiser requires a lot more education and knowledge.
Type #10: Foreclosure Specialist
A foreclosure specialist does probably what most presume it to. They are employed usually by a bank to handle the documentation and processes that are involved in a foreclosure. They manage financial statements and work to turn over a property from a foreclosure into the ownership of a new buyer as quickly as possible.
Type #11: Urban Planner
An urban planner works on plans and programs to develop land or assign it use. They are employed in creating communities, to foster real estate growth, and/or to revitalize areas predominantly through re-branding initiatives and community programs. Urban planners have a foot in real estate but also do a lot of work with municipal stakeholders goes beyond what real estate is.
Type #12: Real Estate Marketing Manager
A real estate marketing manager handles the brand-building part of establishing a real estate company. A marketing manager works to draw attention to properties and are often used on rented properties where tenants are constantly sought.
Type #13: Commercial Real Estate Agent
As a real estate agent, to differentiate yourself, you can specialize. A commercial real estate agent specializes in commercial properties. They deal with a lot of office leasings, helping businesses research and choose locations, and more. A commercial real estate agent involves more research than one who is working residentially.
Type #14: Industrial Real Estate Broker
An industrial real estate broker handles the development, selling, and/or leasing of industrial properties or manufacturing real estate. They are required to have a thorough knowledge in industrial factors, such as proximity to raw materials, water and power, labor availability, and building zoning. An industrial real estate broker is an underrated but still valued member of the real estate community and handles the movement of real estate that typically doesn’t get significant attention.