There’s plenty of different types of real estate jobs in the industry. With a real estate salesperson license, you can do more than sales. Sure, it’s one of the highest paying real estate jobs, but that doesn’t mean it’s your only career option.
There’s so many real estate jobs, you might not even know some of them even exist. Below you’ll find descriptions for the real estate jobs you can expect to see in the industry.
For example, if you’ve ever wondered what do real estate agents do for a living, you’ll have a full grasp on the job description. Alternatively, you’ll learn the details on specific careers descriptions, such as a real estate broker description. We’ll also cover how to get started in these real estate jobs, and answer questions like: how to be a real estate broker in today’s industry?
Deciding what career in real estate to choose is daunting. The sheer amount of options is overwhelming to everyone.
To choose the right career path in real estate, you’ll have to do your research. This list of the types of real estate jobs will make choosing a career path easier:
Real Estate Jobs That Require A License
Residential Real Estate Salesperson
The residential real estate salesperson facilitates the home buying process between sellers and buyers. Having a mediator is a valuable part of the transaction, because, without one, the transaction will have a higher chance of dissolving.
The success of a residential real estate salesperson is dependent on how well they meet their clients needs. Along with this, agent’s conduct their own methods of finding clients. This is why having great customer service skills are detrimental to the agent’s success.
Since the agent’s income is commission based, they will earn more when they find more leads. That’s why growing your network as a salesperson and putting your client first are the most important parts of the job.
Commercial Real Estate Salesperson
The commercial real estate salesperson is similar to the residential real estate salesperson, but they are focused in the commercial sector of the industry.
Instead of houses, townhomes, and condos, a commercial real estate agent will sell property to businesses.
Working in the commercial sector means you’ll need to have analytical knowledge in business and finance. This is because you will be working with gross rent multipliers, capitalization rates, and internal rates of return.
Regarding their salary, a commercial real estate agent has commission based earnings.
However, according to the National Association of Realtors® (NAR), an agent working in the commercial sector earned twice as much as an agent working in residential during 2017.
Real Estate Broker
A real estate broker and agent are very similar in their job. The only difference is who they work for. Real estate agents sign with a brokerage. Therefore, agents work for the head broker, also known as the broker of record.
Brokers, on the other hand, have the option to work independently or start their own brokerage. So, if you have an entrepreneurial drive, consider a career as a broker.
For those interested in becoming a broker, you will need a real estate broker license. According to the Labor of Statistics, the average real estate broker salary in 2017 was $57,730.
Real Estate Property Manager
The goal of the property manager is to ensure the financial and physical well-being of the property. They also have to ensure the tenants of the property are satisfied.
Similar to the real estate broker, property managers must also own a broker license. Along with this, they should have great customer service skills, managerial skills, and have the ability to problem solve while on the go.
The manager works with the property owner to ensure everything is functioning smoothly.
For some people, managing a property is daunting. However, others will jump at the opportunity to ensure the security of the property, work with tenants, and collaborate with an owner.
If you’re interested in a property management position, you’ll need a fair understanding of finances, marketing, facility operations, and documenting important information. When you’re not managing the property, you’ll be managing your own time.
A leasing agent is responsible for finding the perfect tenant to lease a property. They work directly with the property owner. They also have the choice in choosing the sector of real estate they want to work in.
When working in the commercial side, they work with businesses as opposed to individual tenants.
For those who want to work in the field with clients and potential tenants, becoming a leasing agent is a perfect career choice. Because of this, you’ll need great interpersonal communication skills.
There’s plenty of face-to-face time with the client and tenant, so you’ll need to know how to navigate negotiations and conversations.
Real estate listings play an important part in the leasing agent’s career. These listings help drive leads and promotes the property.
This is why having a fair understanding of marketing and promotion will help excel you in a career as a leasing agent.
Real Estate Jobs Where Owning a License is Recommended
Real Estate Transaction Coordinator
The real estate transaction coordinator is responsible for assisting the real estate agent and broker through filing a transaction.
In which case, the coordinator will have to oversee and track the valuable documents. Purchase agreements, titles, escrows, and broker document are a few of the assets the coordinators will manage.
Having great organization, scheduling skills, and attention to detail is a necessity for this job.
Transaction coordinators will also keep track of client information, and help grow relationships between the client and brokerages. This can be done by scheduling 30, 90, and 120 day customer service follow-ups.
Real Estate Assistant
You don’t need a real estate license to be an assistant. However, having one will help you perform in your job. That’s because real estate assistants are the administrative support to agents and brokers.
Most of the time, an assistant will be filing documents, answering phone calls, and posting property listings. On paper, the job doesn’t sound the most glamorous. However, they’re an important part to any real estate operation.
Having an understanding of how real estate works will help you perform your responsibilities quickly and efficiently.
Agents and brokers both agree that assistants are irreplaceable. They’re a necessity if an agent or broker wants to grow their business. By tackling the administrative projects, agents and brokers can focus on finding clients, marketing their services, and other aspects of their business.
Showing assistants work almost entirely in the home showing process. They are responsible for presenting the house to the home buyer, and providing them with information about the property.
They’re the perfect resource for home buyers.
However, without a real estate license, they are limited with how they can interact with the client. For example, a showing assistant cannot discuss pricing or conduct a sale. They would need a salesperson license in order to do so.
The showing assistant doesn’t just work with prospective home buyers.
They work hand in hand with the lead agent to update them on the status of listings and client development. They also help promote the larger team or brokerage.
A large portion of this job includes scheduling showing dates and times with the buyer. Therefore, you should have the ability to consistently keep people up to date.
You’ll be working as the middle man between the agent and the buyer, so having great communication skills and knowledge in real estate is recommended.
Real Estate Financial Analyst and Consultant
Real estate financial analysts and consultants research current market trends and statistics to predict the future of the industry. Analysts and consultants will not commonly work in the commercial sector. These predictions help decide investments, sales, and lendings.
The financial analyst and consultant works behind the scenes.
They’re most comfortable in an office environment, where they can conduct research. When they work with others, they are providing valuable information regarding important investment decisions.
They’re an asset to any real estate company that needs financial recommendations. This is especially true with investors.
Real Estate Investor or Entrepreneur
A real estate investor or entrepreneur is someone who invests in land and property. They try to maximize profits by buying then selling land. However, there’s more to the position than just transactions.
Understanding where and when to purchase land is important. Over time, land appreciates, but its appreciation rate depends on several factor.
One of them is whether they purchased a dud piece of land. That’s why investors and entrepreneurs are dealing with high financial risk in their jobs. A person who is interested in becoming a real estate investor or entrepreneur can make serious money.
However, they have to be comfortable with the risk involved with the career.
They may also want to force equity by improving the land they purchased. But, doing so will cost more money.
This requires them to have extensive knowledge in real estate.
Buying land that people will want to use is the best way to earn a living as an investor or entrepreneur. However, if you blindly purchase land, you run the risk of losing out on of cash.
Becoming a real estate investor or entrepreneur has a high barrier of access. Not just anyone can walk into this position. Someone who wants to purchase and own land will need the property funding to do so. In this market, that can be a lot of money.
It helps to have the funds before trying to make a career out of it.
Real Estate Marketing Specialist
Real estate marketing specialists are the professionals who execute the marketing duties. Their goal is to get a brand seen by the public. Without them, agents and brokerages will experience a dramatically less amount of clientele.
The marketing specialist will often manage social media, create digital content, develop printed materials, write campaign emails, and manage the overall brand.
In other words, they touch up the presence of the agent or broker’s business. The reason why this is necessary to so many agencies and brokerages is because, without marketing specialists, the business will have a hard time generating leads and clients.
This includes marketing the property to prospective clients.
The marketing specialist works behind the scenes. They don’t usually have the opportunity to interact with buyers or sellers. They will also need to have detailed knowledge in the industry they work. Without that, marketing specialist will have a hard time marketing to their target audience.
This is why having a real estate license will help a real estate marketing specialist.
Real Estate Developer
Real estate developers create the buildings on any given property. This includes everything from office buildings to a 4-bedroom house for a family. They’re mission is to coordinate the construction of these buildings on raw land.
The real estate developer also works with existing constructions on properties. They can re-lease buildings and the sale of already developed land.
They’re heavily involved with everything development related.
This means that real estate developers also have the opportunity to work with architects, engineers, and construction teams. They also work alongside the contractors, leasing agents, and lawyers surrounding the legal aspects of the property.
Overall, the real estate developer is always involved in the planning and building process.
Having skills in multitasking, interpersonal communications, and project manage is a necessity to excel in this career.
Real Estate Jobs That Require Other Licenses
Real Estate Appraiser
The value of a commercial or residential real estate property is determined by the appraiser. They are most often used before the property is sold, taxed, or developed.
An appraiser will decide the value of a property based off its characteristics and where it’s located.
They’re also able to determine the value by comparing it to other, similar, properties.
You’re not required to have a real estate salesperson license, however you are expected to own an appraisers license. This is done by completing 75 hours of basic appraiser education and passing an exam by the state.
You will also work in finance and economics, so having an educational background in these areas is helpful.
According to the national average, a real estate appraiser salary in 2018 was $52,512.
They also have the option to work independently or with a larger business. No matter where they work, they will be collaborating with agents, buyers, and sellers.
Real Estate Escrow Officer
Escrow officers serve the closing transaction in real estate by acting as the third, neutral party. A real estate escrow officer is familiar with the overwhelming headaches of closing a real estate transaction – and how to manage it. These professionals work closely with agents, lenders, and other service professionals.
The experience needed to become a real estate escrow officer is rigid.
You must become a licensed professional, have training in escrow, and have served as an apprentice in the field. To get your license, you will also need to enroll in a specific school.
You will need to be familiar with handling money on a large scale. Having a good attention to detail will help you keep track of fees, commissions, and payoffs. It also doesn’t hurt if you are familiar with the law surrounding escrows and funds management.
Real Estate Inspector
A real estate inspector examines a property for any defects or issues that will cause problems for the purchaser, seller, and agent. Inspections are a critical part of the transaction.
This is because inspectors help point out faults and blemishes that might go unseen.
In the state of California, you do not need to be a licensed to become a real estate inspector. However, the requirements to be an inspector changes depending on your state. Therefore, you need to always check the requirements.
Despite not needing a license in California, you should still have the proper training in real estate to meet your client’s expectations.
Real estate inspectors need to know every aspect of a house. This means they have to be familiar with roofings, wall structure, plumbing, and electricity – just to name a few. That’s why most home inspectors seek out trusted training before they jump into the career.
Real Estate Loan Officer
The real estate or loan officer helps clients with obtaining a loan to purchase a home. They strictly collaborate with the buyer to finance their dream home while working with their budget.
Real estate loan officers must be registered with the Nationwide Mortgage Licensing System.
In order to become registered, you must meet the qualifications. In addition to becoming registered, you must also have knowledge in finance.
As a loan officer, you will need to help the client navigate the financial waters of their real estate purchase. You’re their guide through the stress that follows money problems. Along with having knowledge in real estate, loans, and finance you’ll need to have excellent customer service.
Real Estate Title Officer
Real estate title officers conduct searches on the title of a property. They look for problems associated with the house or land, that would deter a buyer’s purchase. After doing a background check on the title, they report their findings to the property buyer.
They also provide information and resources on the title insurance to protect the buyer.
To become a real estate title officer, you would have to earn a title agent license or a notary license. The requirements of becoming licensed depends on your state, however you should always expect a state exam.
Title officers are detailed oriented. Having attention to detail in writing, research, and communication is expected, if you want to be a successful title officer.
You will also have to be familiar with insurances and closing practices.
Real Estate Attorney
Real estate attorneys are professionals who apply their skills to the legalities behind property disputes. When there’s speculation or issues with the title, documentation, transfers, or other legal problems, the attorney’s job is to step in and settle the tension.
Attorneys are the most helpful when they’re providing their clients guidance during the transaction process.
They want to ensure the sale of the home is legal. Then, if any legal issues pop up, the attorney is there to help serve the best interest of their client.
To become a real estate attorney, you will have to undergo an extensive educational experience. You need to have graduated with a bachelors degrees, pass the LSAT, earn a Juris Doctor degree, and then pass the bar exam. In total, this process could take upwards to 6-8 years to complete. This is before you spend another 2 years accumulating experience as a lawyer.
Real Estate Paralegal
A real estate paralegal is similar to a real estate attorney. You can expect to find the paralegal working closely with the attorney and the real estate agent in the transaction process. They’re responsible for preparing the proper documentation and drafting agreements, letters, and insurance.
The real estate paralegal must have an understanding of taxes, title insurance, and the transaction process.
This is because the majority of their work will center around the closing deal. Paralegals are a cost effective alternative to hiring an attorney.
To become a real estate paralegal, you will have to go through a certified paralegal training program. People interested in becoming a paralegal will have to take paralegal studies at an accredited school, college, or university.
Overall, having a wholesome understanding of law, finances, and real estate are necessary to become a successful real estate paralegal.
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