Most people have started making investments in the real estate industry nowadays. This has contributed to the real estate sector’s growth and generated various job opportunities.
If you’ve been looking to work in real estate investment trusts but don’t know the career path or jobs in this sector, this article’s for you! Here, we’ve explained the best-paying jobs in real estate investment trusts and how you can land your dream job in real estate.
What is a Real Estate Investment Trust?
Real estate investment trusts (REITs) are organizations that own and operate real estate. Now, don’t mistake this with companies that design and construct buildings. That’s a different business. These firms handle various real estates, such as commercial buildings, houses, flats, hotels, and warehouses.
Investors can invest their finances in real estate as they invest in stock. However, investing in real estate remarks that they own valuable assets and may also receive a stable shared income. That’s why most people consider investing in real estate to build a passive income stream.
Best Paying Jobs in Real Estate Investment Trusts
Real estate investment trusts have various job roles ranging from consulting to management. Following are some of the best-paying jobs in real estate investment trusts
Real Estate Investor Jobs
Real estate investor jobs are among the best paying jobs in real estate investment trusts, but not everyone would like to settle for these jobs. That’s because, as an investor, you need to invest money in purchasing real estate properties and land and modify them to resell for a profit.
You need to know when to invest in a property to gain huge profits.
The risk level in such jobs is high since your profits depend on the location and value of the real estate. Again, you must apply investment strategies to determine the best time to buy and sell real estate properties.
Real estate investors earn around $150,000 annually and need a bachelor’s degree in economics, finance, computer science, or a related field.
REIT Analyst Jobs
REIT analysts help the real estate and finance team purchase, sell, and finance estate. They analyze and monitor the real estate market trends and develop strategies to enhance the business. Analysts have excellent communication and business administration skills.
They also prepare reports to help the real estate investment trust make informed decisions before acquiring a real estate property.
Real estate analyst jobs are a good career path for those having financial knowledge and problem-solving skills. It is one of the best-paying jobs in real estate investment trusts, with an annual average income of $90,000.
Real Estate Agent Jobs
A real estate agent job is another best-paying job in the real estate investment industry. Real estate agents are licensed professionals that help people buy and sell real estate properties. They may specialize in selling and buying residential properties or commercial real estate.
Agents specializing in residential real estate connect with buyers and sellers interested in properties like houses, condo units, beach houses, flats, etc.
Alternatively, those specializing in commercial properties help sell and buy properties like office buildings, shopping malls, hotels, rental properties, etc.
Real estate agents typically hold a professional license and work for brokerage firms. The earnings of real estate agents may vary depending on the properties they sell, but it can be around $95,000 per year.
Real Estate Property Appraiser
With an average annual income above $53,000, real estate property appraiser jobs are among the best paying jobs in real estate investment trusts. Real estate property appraisers determine the property’s value after considering the economic and market factors.
They determine the value of real estate assets by considering various factors like the property’s condition, location, home and neighborhood amenities, and much more. They help investors and analysts accurately make real estate investment decisions.
Real estate appraiser jobs require individuals to have knowledge of the real estate industry and undergo training.
Real Estate Attorney Jobs
Another one of the best-paying jobs in real estate investment trusts is being an attorney. As real estate attorneys, you are responsible for handling disputes while purchasing and selling properties and overlooking legal issues regarding real estate properties.
Attorneys act as a mediator between the buyers and sellers. They handle million-dollar property ownership and all the paperwork, prepare documentation, and look after title issuance, transfers, and other legal matters.
Attorneys need a bachelor’s degree in a relevant subject and a license to practice in their state. They can earn around $119,000 per year.
Real Estate Broker Jobs
With a yearly earning potential of over $72,500, real estate brokers are among the best-paying jobs in real estate investment trusts. Like real estate agents, brokers also assist in buying and selling properties.
However, the difference is that they work independently without joining a brokerage firm.
As a real estate broker, you must take specialized training and possess a certificate. You can then build your brokerage firm and hire agents to work for you after gaining experience.
Property Management Jobs
Property management jobs are among the best-paying real estate investment jobs for those possessing managerial skills. Property managers earn between $80,000 to $124,000 per year based on their skills and expertise.
You need to have a background in management, a relevant degree, or a high school diploma to become a property manager.
Property management jobs involve handling all the responsibilities involved in buying or selling real estate. They supervise the house’s electricity, plumbing, roofing, and other aspects.
They also ensure the tenant’s requests are addressed, and rent is paid timely. They may handle one or more real estate properties.
Real Estate Developer Jobs
Real estate development jobs are among the most popular and best-paying jobs in real estate investment trusts. Real estate developers can earn around $94,000 per year. However, the earning potential varies depending on their sales and property.
Real estate developers are responsible for owning real estate assets and acquiring and selling new lands. They can purchase a residential or commercial property and develop or reconstruct it to sell for profit.
They have to possess excellent communication and managerial skills since they have to communicate with various people, including engineers, architects, designers, attorneys, etc.
With an average annual income of $150,000, leasing consultant jobs are highly popular and the best paying jobs in real estate investment trusts. Leasing consultants help people find real estate that fits their budgets and interests.
Lease consultants will be responsible for communicating with people interested in real estate investing and helping develop a prime investment strategy to suit their needs.
They need to have sound real estate knowledge and excellent communication, marketing, and managerial skills.
How Do Real Estate Investment Trusts Work?
Real investment trusts are firms that manage and handle income-generating real estate. They invest in assets that can maximize their profits.
Real estate investment trusts own various types of properties, including shopping centers, offices, warehouses, and another commercial real estate, and earn revenue from them.
They also share their dividend with stakeholders and other investors. The public typically owns a real estate investment trust. They hold or buy retail and commercial real estate giving investors excellent investment opportunities.
Real Estate Investment Firm Sectors
Jobs in real estate investment trusts are a good career path for individuals from various backgrounds, including finance, accounting, analysts, management, engineering, etc. The industry is divided into various sectors for people coming from different backgrounds.
Following are the sectors in real estate investment trusts and some best-paying jobs in real estate investment trust sectors.
The development sector deals with jobs and tasks related to property development. The sector has various best-paying jobs for engineers, constructors, architects, development managers, etc.
Employees in this sector look after the projects’ daily operational and financial work. The best-paying job in this sector is a real estate developer’s job.
The acquisitions sector of real estate investment trusts is responsible for finding and attracting new clients. They develop strategies to get and handle new clients. They are also responsible for handling the investment portfolio of their clients.
The acquisitions sector has a high growth rate, and you can become a senior vice president at the firm. The best-paying jobs in the acquisitions sector include analysts.
3. Property Management
The property management department deals with all the operations needed to handle the property. The department handles the project’s financial, administrative, maintenance, and leasing-related tasks. Their job is to ensure that the property owner gets maximum return on investment.
The property manager is the highest paying position in the real estate industry in the property management sector.
4. Investor Relations
The investor relations department in real estate investment trusts handles communications and operations between stakeholders, especially shareholders and investors. They also plan and organize meetings and documents for stakeholders.
Employees in this department deal with executive management, accounting, and other legalities. The best job in the investor relations sector of a real estate investment trust is investor relations manager.
5. Sales and Marketing
As with any other business, real estate investment trusts’ sales and marketing department is responsible for generating sales by marketing the firm’s real estate holdings. They create promotional strategies to attract buyers to buy the property.
Their marketing strategies typically highlight the property’s USP and benefits. Real estate agent jobs are highly popular in the marketing department.
Different Types of Real Estate Investment Trust
There are different types of real estate investment trusts based on the method of revenue collection. We’ve explained each of the REITs below.
Debt Real Estate Investments Trust
Debt real estate investment trusts lend money to people interested in buying real estate. The customers pay interest on the amount given to them. These companies generate income from the interest paid after giving customers loans.
This investment is risky since most customers delay loan repayment or interest payments, and some don’t pay the amounts.
Equitability Real Estate Investments Trusts
Equitability REITs comprise apartments, markets, shops, and resorts. REITs are in charge of building, supervising, and establishing the project upon approval. The investors then get a percentage of the profits received by the REITs.
Medical-Oriented Real Estate Investments Trusts
Medical-oriented REITs invest in multi-specialty clinics, hospitals, laboratories, research facilities, and other healthcare facilities. Since the demand for medical facilities is high and the sector is evergreen, investments in these REITs are highly profitable.
Merchandise Real Estate Investment Trust
Merchandise REITs comprise retail shops and markets, including shopping malls, supermarkets, distribution centers, etc. The REITs in this sector don’t produce or manage the merchandise. Instead, they provide purchaser debts and generate revenues from retail owners and shops.
Domestic Real Estate Investments Trust
Domestic REITs are responsible for creating flats, houses, large-scale communities, and complex centers. They also operate rental buildings and give investors a chance to invest in domestic real estate.
How to Get a Job in a REIT?
REIT is a good career path for individuals possessing the passion, skills, and knowledge in this industry. If you want to get a job at a REIT, begin by identifying your skills and passion. Then shortlist REITs in your locality and apply for jobs you are qualified for.
If you lack knowledge or relevant skills, you can eventually begin from an entry-level position and make it to the highest position like a vice president.
How Much Can You Make With a REIT?
Your earnings while working for a REIT will differ based on your position. However, most REIT professionals have reported an average annual income between $53,000 and $150,000.
Besides, as investors, the earning potential in REITs is higher than in stock markets since REITs have to pay 90% of their taxable investment income to their shareholders.
Conclusion – Is a Real Estate Investment Trusts a Good Career Path?
Real estate investment trusts careers are excellent for those with relevant skills and qualifications. This sector is booming, and you can earn a good income and employment benefits while working at REITs. This list of the best-paying jobs in real estate investment trusts has some popular jobs, but there are several other opportunities to consider in this sector.