Thinking about starting a career in real estate? First of all, congratulations! Second, being a fully licensed real estate agent is not the only role you can play in the industry. There are a number of different career paths in real estate that will bring you a great sense of responsibility, determination, and success. Being a real estate professional takes certain characteristics like being a self-starter and having a mentality of “being your own CEO.”
Let’s break down a few of the different careers in real estate and see which one best matches your interests, professional experience, and skillset.
- Real estate investor – an individual who is knowledgeable in the real estate market and understands where and when to buy properties in order to collect the greatest return. This person buys a piece of property or land to improve upon and re-sell in hopes of profiting from the sale. An investor can choose their level of involvement in the venture, from simply funding the project to actually being involved in the day-to-day operations and renovations.
- Real estate agent – an individual who helps and facilitates the process of buying and selling properties or land.
- Commercial – sell properties to/for businesses.
- Residential – sell properties to/for homeowners.
- Real estate broker – an individual who has prior experience as an agent and who has the necessary education and qualifications to now manage multiple agents in an office. They oversee all agents in their office and provide guidance. Check out our blog on what it takes to become a real estate broker to learn more.
- Commercial – working with businesses.
- Residential – working with individuals/homeowners.
- Real estate developer – an individual who purchases a piece of land, then builds upon that land to eventually sell to either a business or homeowner. They are responsible for the funding, planning, and building of this project in a way that will return the most profit.
- Real estate wholesaler – an individual who purchases a property that needs work, assesses the necessary renovations that the property will need, then re-sells the property to an investor. They do not physically perform the renovations, they simply just determine what the value of the repairs will cost and find a buyer who is willing.
- Property manager – an individual who manages the property itself. They do not in fact own the property themselves but ensure that the financial and physical aspects of the property are maintained. They essentially act as a middle man between the tenants of the property and the owner of the property, making sure that both parties are satisfied.
- Home inspector – an individual who is knowledgeable in the real estate industry and who has an eye for structural needs. They examine the property and determine any flaws or defects that will arise issues for the seller, buyer, or agent.
- Real estate appraiser – Similar to a home inspector, an appraiser needs to be knowledgeable in the industry. They determine the value of a property monetarily based on many factors including the property itself, the market, the location, etc.
- Commercial – determines the value of a business property
- Residential – determines the value of a home
- Leasing agent – an individual who works with the owner of a property to find tenants to lease the property (either commercial or residential). They are the face of the property but do not actually own the property itself.
- Real estate assistant – an individual who performs administrative support to both the broker and the agents in an office.
- Real estate consultant – an individual who has experience and knowledge in the real estate industry and provides feedback, advice, and overall guidance to investors or companies who are interested in purchasing a piece of property or land.
- Real Estate Loan Officer – an individual who works with the client and guides them in obtaining a load suitable for their needs in order to purchase a property.
- Mortgage broker – an individual who serves as the middleman between the lender of a loan, and the client who is receiving the loan. They aid in providing the client with advice and information regarding their specific loan.
- Foreclosure specialist – an individual who handles the foreclosure process for the bank or private lender. They work with the client on obtaining and filing the proper documentation and process the foreclosure in a seamless fashion and timely manner.
- Community development manager – an individual whose main responsibility is the expansion and improvement of different community programs. They oversee what needs to be done and serve as a manager for these projects to ensure their success.
We’ve only scratched the surface on some of the different career paths in real estate. If you are seriously considering a career in this industry, check out realtyonegroup.com and you will get a much better understanding of what it is like to be part of the real estate world.