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Property management is a profitable business in all parts of the world. People who are responsible for the management of landed properties are referred to as estate managers. The real estate industry offers promising career opportunities in positions such as land surveyors, property consultants, realtors as well as other investment opportunities.
This publication will explain 15 of the best paying positions for people who desire to pursue a career in the real estate industry.
1 Who Can Work In The Real Estate Industry?
There are several success stories about people who made millions of dollars in the real estate field, and the industry is open to both investors and people who want to work in the industry.
Pursuing a career path in real estate does not require advanced academic qualifications, and investors can start with little or no capital. However, people who hold a bachelor’s degree in estate management, and other related studies can be referred to as professionals in the field.
In addition, people in the real estate sector are advised to obtain official licenses from the state government before starting their career in the field. Marketing, and human relations skills are important
2 Why Choose A Career In The Real Estate Field?
One of the benefits that comes with choosing a career in line with property management is flexible pay. The salary varies from each other depending on the area of specialization, and people working in the real estate industry can either find jobs that are commission-based or a monthly pay.
You can also choose to start a career in property management because of the various job opportunities available, and these jobs allow you to move from place to place, as well as work from your comfort zone.
3 Top-Paying Careers in the Real Estate Industry
1. Real Estate Agent
- Annual Work Salary: $90,000
One of the highest-paying roles in the real estate industry is that of a real estate agent. They serve as intermediaries between buyers and sellers during buying and selling of properties. For instance, if Mr. Tom wishes to sell his duplex for $2 million, a real estate agent can market it on his behalf for $2.2 million, earning an additional commission of $200,000 depending on the agreement.
Real estate agents receive commissions based on the cost of properties sold, thereby making it complex to give an estimate of their earnings at the end of the month.
2. Real Estate Broker
- Annual Work Salary: $86,000
A real estate broker performs similar functions to a real estate agent. What differentiates them is their level of professionalism. There is no certain requirement for taking on the role of a real estate agent, but the latter involves receiving certification and licensing from relevant institutions.
Real estate brokers can act as a third party between property buyers and sellers and receive higher pay because of their level of professionalism.
3. Escrow Officer
- Annual Work Salary: $75,000
An escrow officer is a third party that helps complete transactions. He performs similar functions with a property manager, this includes acting as an intermediary between both property owners and clients.
He further analyzes the costs of properties and educates property owners on how much their properties are worth. He receives a commission for every successful transaction; this includes the handing over of all legal documents after payment has been completed.
4. Marketing Managers
- Annual Work Salary: $75,000
Marketing managers are also important in the real estate industry. They work in partnership with real estate managers, agents, and several property investors to reach a large audience about available landed properties that are available for sale.
They are focused on using various advertising methods such as running online campaigns to find potential buyers. Marketing managers in the real estate industry do not require licensing from the state government before they are allowed to practice nor is a degree in relevant estate management field of studies required.
5. Property Accountant
- Annual Work Salary: $96,000
Property accountants are one of the highest-paid roles you can find in a real estate agency. Property accountants are responsible for managing the financial records of property users. They also provide adequate reports of financial estimates, and help property owners manage their income and expenditure.
In addition, property accountants play a vital role in property development such as holding a record for money spent on developing or constructing a property. This means they constantly work in close contact with building managers, and other construction agents.
- Annual Work Salary: $85,000
Realtors are considered professionals in the real estate field with an estimated salary of $85,000. Realtors must obtain a university degree and must receive accreditation from the state government before they can
Realtors are responsible for acting as middlemen between house sellers, and prospective buyers. They constantly survey cities, and urban and Durban areas for houses that are available for sale.
7. Real Estate Attorney
- Work Salary: $80,000
A real estate attorney is another important factor in the real estate industry. He acts as a representative in handling all legal matters that arise due to the buying, selling, or ownership of land properties. Real estate attorneys make a high income from protecting the rights of their clients and acting as representatives during legal disputes.
Real estate attorneys don’t need additional skills except for their educational degrees in relevant law programs before they can function professionally in the field.
8. Land Surveyors
- Work Salary: $80,000
Surveyors are important in the development of any type of land property. The services of a land surveyor are required before the construction of any infrastructure, that is they evaluate both public and private properties and determine the localisations of industries.
A surveyor collaborates with a real estate attorney, property managers, civil engineers, architects, and many others in the planning and development process of land properties.
9. Construction Managers
- Work Salary: $90,000
The role of a construction manager is another lucrative job in the real estate industry. They are knowledgeable about construction plans and give an accurate estimate of the required resources that will be used in completing a building project.
They manage the financial expense and also control the overall building process, by ensuring the use of standard materials to complete building projects. A building manager can be hired on contract by private firms, individuals, or government agencies to showcase their expertise in developing infrastructures.
10. Real Estate Investment Consultant
- Work Salary: $70,000+
Real estate investment consultants are your go-to person if you have little or no idea about how the real estate industry works. This position is best performed by a person who has obtained a degree and undergone an internship in the real estate management field. He is responsible for giving legal advice, investment advice, and procurement advice, as long as it pertains to property management.
11. Lease Manager
- Work Salary: $75,000
To lease means to give out a property for a specified period, which is usually over 2 years. A lease manager is responsible for keeping the leased property in good condition such as handling repairs, maintenance, etc on the properties.
He is authorized to lease out properties to prospective buyers after they meet all requirements.
12. Property Investor
- Work Salary: $100,000
A property investor makes a high income in the real estate industry. He is responsible for analyzing the real estate market for viable investment options depending on the available budget.
A property investor can help others invest in promising properties, and can also offer consulting services to newbie investors in the field. Capital is required before starting a career as a property Investor, an investor can invest in multiple properties within and outside his state of residence.
13. Zoning Manager
- Work Salary: $70,000
The services of a zoning manager are usually required by both the government and private individuals or firms. They perform similar duties with land surveyors using land use permits as a benchmark.
A zoning manager is different from land surveyors since licensing is required from the state government before they can be regarded as professionals in the field.
14. Mortgage Loan Officer
- Work Salary: $69,000
A mortgage loan officer performs several functions in the real estate field. He is legally authorized to review clients’ financial records, and personal information, before granting them loans.
A mortgage loan officer also offers advice to clients on several loan choice options. He also provides an estimate of how much money a client is liable to receive as a mortgage loan.
A mortgage loan officer reviews other additional information before approving loans such as proof of address, tax payments, credit history, etc. You can work as a mortgage loan advisor if you have a degree or associated degree in accounting, business administration, etc.
15. Property Manager
- Work Salary: $65,000
The duties of a property manager are to maintain land properties that are on lease or rent agreement to clients. He assists the property owner with the collection of fees, and rent, as well as handling repairs.
Property manager ensures that clients occupying properties on lease or rent pay up as at when due. This means that they keep all financial, and personal data of the occupants.
In summary, this publication has examined various lucrative job opportunities for people in the real estate field. However, salaries in the real estate sector are usually not defined because most people receive commission-based salaries, but selecting any of the above job opportunities means you are on the right path to earning a good living for years to come.