Real estate is, without a doubt, one of the most vibrant industries in America and beyond. The NAR data showed that 5.64 million houses were sold in the U.S in 2020 alone. The real estate sector is constantly evolving, so there are many career opportunities to explore.
A career in real estate is worth considering if you’re passionate about the property industry and don’t want a traditional nine-to-five job. Here are four career paths to consider in the real estate sector.
1. Real estate investor
You are likely familiar with real estate investing and property flipping if you watch HGTV a lot. Real estate investing is a great career to consider in the property industry because it is extremely profitable. Y
ou can be a passive investor, channeling money into your projects without involving yourself too much in their day-to-day management. Alternatively, you can become an active investor by buying and flipping residential properties.
However, it would help to learn about your real estate market first and understand investment strategies to reduce your risk of losing cash.
2. Real estate attorney
Real estate attorneys are professionals you will typically see at the table when a property deal enters the closing phase. These individuals are experts in all the rules of real estate transactions, and certain states even demand their presence at closing.
As a real estate attorney, you will look out for your clients’ best interest in deals and advise them before signing anything. Also, you will be responsible for handling all legal issues related to property disputes.
If you specialize in syndication, you’d be required to prepare legal contracts and provide clients with the best advice on structuring their companies and sharing revenue. There are many online providers of these expert legal services such as Syndication Attorneys, for example.
3. Property manager
It is no secret that several real estate investors are passive. These investors are not actively involved in managing their properties after acquiring them and are always seeking trusted individuals to oversee their investments.
Property managers are often the first people these investors turn to, so this career is undoubtedly worth considering. As a property manager, you will ensure that the properties run smoothly and make money for the owners.
If you manage residential properties, this role can require you to wear different hats like repairman and leasing agent. However, you can outsource your different roles and simply coordinate them if you are managing large commercial properties.
ZipRecruiter estimates that you will earn about $47,000 annually in this role, so keep this in mind.
4. Home inspector
Home inspections are a vital aspect of all real estate transactions. Therefore, there is the need for home inspectors to point out any problems that might go unseen.
Consequently, you can also become a home inspector to examine properties for common defects that are problematic for buyers, sellers, or agents. The requirements you need to become a home inspector vary by state.
For instance, California does not require you to have a license for this job, but Florida does. As such, you will need to complete 120 hours of state-approved training and pass an exam to become a home inspector in Florida.
According to Glassdoor, you will earn about $38,000 per year as your average base salary in this role.