From residential roofing to property management, the real estate sector offers you many opportunities that enable you to expand not only your experience but also stretch your abilities. A career in real estate is both rewarding and challenging. It offers you flexibility in your work schedules. If you invest your time and effort, you can make good returns or income. Here are some of the career options this field offers.
1. Real estate appraising
If you chose this line of work, your job would be to make property value assessments in a fair way. Appraisers are needed in new sales and refinancing too. You will find many appraisers working in a bank or appraisal companies.
2. Property management
Property managers are tasked with finding customers, managing customer relations, establishing rent prices and coordinating leases. The Institute of Real Estate Management is the trade organization of this profession. They offer the Accredited Residential Manager and Certified Property Manager (CPM) designations.
3. Real estate brokerage
There are different types of real estate brokers namely; residential brokers, commercial agents, land and farm brokers, and industrial and office brokers. These agents are used in selling or leasing property. The best agents give investors the best options in the market based on market research.
4. Real estate development
Construction managers and developers are individuals who turn land or other low-value property to a profitable residential, commercial or even industrial development. They handle various aspects of the project which include site selection, planning and layout, financial analysis and construction supervision. You need to be a goal-driven risk taker to prosper in this line of work.
5. Urban planning
Urban planning involves working with the local governments to anticipate a city’s growth and work on how to accommodate it. They work on physical and environmental changes of the city to improve the quality of life for the residents. Urban planners are tasked with creating sustainable cities of the future.
6. Real Estate Advisory
As the real estate investing becomes popular, there is a need for some experienced advisors to guide the institutional investors and the real estate entrepreneurs. These advisors make management recommendations and suggestions to help the investors to maximize the value of their property. You need in-depth knowledge of the industry and excellent statistical analysis skills.
7. Real estate research
All real estate specialist requires data and information to make decisions. That is where real estate researchers come in. There are classified into two categories namely economic and physical researchers. The former deals with economic and financial aspect while the latter researchers on structures and building.
8. Investment banking
For the individuals who have a passion for investment banking and real estate, this is the career for you. Investment banks today have departments that deal in consolidating mortgages to create collateralized mortgage obligations (CMOs), residential mortgage-backed-securities (MBS), commercial mortgage-backed securities (CMBS) as well as other banking and securities aspects of the industry.
To make your real estate career successful, you need, people skills, sales skills, communication skills, and analytical skills. You also need the ability to synthesize and some creative ability. You should have initiative as you will be your own boss most probably.