The opportunities in Real Estate Investment Trusts are endless. Real estate investment trust (REIT) is something most people are familiar with or heard about, but the details of how these companies work are a bit more complicated for most people to comprehend. Working in REITs can provide you with a reliable income stream as long as you know which ones work for you. The key to thriving in the Real Estate Investment Trusts industry is understanding the ins and outs of this unique type of company. In this article, we will disclose how many jobs are available in real estate investment trusts and what types of professionals are typically in charge of each position. We hope that we can provide you with better insight into the real estate investment trusts and the various careers available therein. Let’s jump right into it.
What Are The Types Of Real Estate Investment Trusts?
There are three types of REITs:
Equity REITs
Equity REITs invest in properties and then collect rent from the tenants.
Mortgage REITs
Mortgages simply invest in mortgages and loans. Their incomes are generated from the cost of funding.
Hybrid REITs
They invest in both Equity and Mortgage REITs.
How Many Jobs Are Available In Real Estate Investment Trusts?
You can think of Real Estate Investment Trusts as the planet of jobs. There is enough position for everyone. No less than 3 million real estate licensees are in the United States, as the Association of Real Estate License Law Officials (ARELLO) reported. In fact, REIT employed at least 274,000 people in 2019 to fill up available spaces.
What Are The Career Paths In Real Estate Investment Trusts?
As we mentioned earlier, the REIT opportunities are endless. We can’t possibly list them all. However, below is the list of the common ones and how much they earn.
Real Estate Agents
Real estate agents or leasing agents help clients find and purchase a property. They also help potential tenants find a property to rent and guide them throughout the process. They earn– $6,722 monthly & $94,944 Annually.
Property Manager
Property managers are those responsible for taking care of the REIT’s property and ensuring that it is well-maintained and running smoothly. This includes maintaining the property, collecting rent, managing tenant and landlord relationships, overseeing repairs and maintenance, and dealing with any problems. They earn– $3,755 Monthly & $53,037 Annually.
Equity Research Analyst
They provide the best investing advice for real estate shares. Their job is to investigate the microeconomic and macroeconomic factors affecting the real estate market and gather and study financial data. They earn– $7,162 Monthly & $85,942 Annually.
Real Estate Attorney
A real estate attorney helps in the contract review and negotiation and closing process and deals with any legal issues or disputes that may come up. In addition, real estate attorneys may also offer advice on zoning laws, tax issues, and other legal matters related to property. They can represent either the buyer or the seller in a real estate transaction. They earn– $7,473 Monthly & $89,676 Annually
Real Estate Appraiser
A real estate appraiser is someone who provides an estimate of a property’s value. For example, if you are selling a property, an appraisal will give you an idea of what your property is worth and whether or not it’s worth putting extra money into renovations. Or, let’s say you’re buying a home, an appraisal can help you determine whether or not the selling price is fair. He is also helpful in securing a loan, as the bank will want to ensure that the property is worth the amount of money they’re lending. They earn– $4,547 Monthly & $64,225 Annually.
Account Assistant
Account assistants are responsible for tracking all of the financial transactions of the REIT. They ensure that all of the money is accounted for and that everyone follows the rules set by the company. They earn– $6,415 Monthly & $76,982 Annually.
Real Estate Investment Analyst
The people offer financial analyses in property finance, purchase, marketing, and leasing. Their job is to ensure the economic success of the business. They earn– $7,488 Monthly & $89,863 Annually.
How Do You Land My First Job In Real Estate Investment Trusts?
According to recent reports, the number of jobs available in the real estate investment trust (REIT) industry is rising. In particular, there is a high demand for real estate analysts, financial analysts, and property managers. If you’re interested in pursuing a career in the REIT industry, there are a few things you should know.
College Degree
Although work experience is essential, It’s no news that employers prefer candidates with degrees to non-degree holders because they believe they possess hard and soft skills and the intelligence to combat any challenge that comes their way. Thus, most REITs require a college degree. A real estate analyst, for example, needs to have a bachelor’s degree in finance, accounting, real estate investing, or something similar.
Understand Financial Statement
Understanding the data in financial statements is crucial since they give you a fundamental financial analysis of the state of the business and how it’s being run.
Be Competitive
The industry is competitive, so you’ll need to have strong analytical skills and be able to think strategically.
Conclusion
There are many job opportunities in real estate investment trusts. REITs offer a variety of positions, from property managers to investment analysts. Those with the right skills and experience can easily find good jobs. You’ll be able to move up through the ranks, assuming you put in the hard work and demonstrate dedication to your appointment.
