Real Estate Investment Trusts are a unique sector in real estate full of job opportunities for those looking for a breakthrough into the industry. Different levels and specialties in real estate investment trusts are better suited for people with skills. So, how many jobs are available in real estate investment trusts? What qualifications are required for people to work in this industry, what are the best-paying jobs in real estate investment trusts, are real estate investment trusts a good career path, and what kind of pay can you expect for specific roles? We will discuss and try to answer all these doubts and questions in this article but first of all, let’s know what a Real Estate Investment Trust is?
What is Real Estate Investment Trusts?
The world of real estate is a new and exciting asset or platform people are interested in investing in. A real estate investment trust, i.e., REIT is a public or private commodity that invests in real estate assets that produce revenue in the short and long term. REITs own assets such as apartment buildings, office buildings, hotels, resorts, plaza hubs, and likewise. The real estate investment trust is full of employees who help run the day-to-day undertakings required to manage and provide the necessary service to the properties owned by the REIT. Private REITs are owned and operated by partners and associates and are not open to the public for investments. Public REITs are listed on stock exchanges and are available for trading to investors and familiar people. Many jobs within REITs are essential in helping run and operate the business, providing many job opportunities in other sectors.
Total Economic Contribution of REIT
- REIT operations supported 2.9 million FTE jobs and $197.0 billion in labor income.
- Capital expenditures and new construction supported 1.4 million FTE jobs and $92.8 billion in labor income.
- Dividends distributed and interest payments to investors supported 403 thousand jobs and $25.3 billion in labor income.
Now that you have an idea about a real estate investment trust let’s talk about the best-paying jobs in Real Estate Investment Trust. The top 9 best-paying jobs in REITs are:
- Asset Management
- Property Development
- Property Management
- Leasing Consultant
- Investor Relations
- Real Estate Property Appraiser
- REIT Analysts
- Real Estate Investor
- Real Estate Attorney Jobs
Asset management is one of the best-paying jobs in a real estate investment trust. An asset manager works on behalf of their client and takes important decisions to help their client’s portfolio grow and provide him with better and more profitable results. An asset manager also ensures the client’s investment doesn’t depreciate and is less prone to risk factors. Asset management requires collaboration with different departments within the forum, such as acquisitions, finance, development, and accounting. One can start with acquisitions or property management and rise through the ranks of promotion to become an asset manager, or with the required skill and experience, one can directly get the asset manager job.
Property development is another best-paying job in a real estate investment trust. A property developer’s role is to work hand in hand with the contractor and subcontractor to plan new real estate forums. Their job also includes inspecting the construction works and so on. An individual needs to have a degree in civil engineering or architecture or business and urban planning to get the role of a property developer. He should also have extensive real estate market insider knowledge, an in-depth grasp of finance, and excellent organizational abilities.
A REIT manager appoints another property manager to manage the properties of the given real estate forum. The job of a property manager is to engage with clients and either sell or rent the given property at the best cost based on market prices. Their job is to get the best tenancy and rental values for the given property. The skills required to get the job as a property manager are Customer support, problem-solving, marketing, Finance experience, and Managerial abilities. It is one of the best-paying jobs in a real estate investment trust.
Leasing Consultants are the face and voice of real estate investment trusts. They are responsible for assisting customers in locating property and homes as per their budget and location preference. It is a perfect position to start your career if you are someone with grand ambitions and want to go way up to the roles like marketing director. You need complete local real estate market knowledge to succeed in this role. Soft skills such as strong interpersonal communication, advertising, and promotion skills are essential for this role. Prior experience in the hotel or retail industry can be beneficial. A leasing consultant is also one of the best-paying jobs in a real estate investment trust.
Investor Relations is responsible for managing communication between the real estate investment trust’s corporate management and its investors.
An Investor Relations Manager helps support releasing information, handling inquiries and meetings, providing feedback to management, and crisis management. Investor relations professionals focus on the company’s financial community rather than its business customers or the general public. To get the role of investor relations, you must have an undergraduate degree and foundational courses in accounting and finance.
Real Estate Property Appraiser:
A real estate property appraiser is responsible for determining the price of houses, buildings, and likewise. The cost of properties depends on various factors like economics and the market. Real estate property appraisers keep track of these things and then determine the fair price for the real estate buildings. To get the role of a property appraiser, one must complete one appraiser training course and acquire a license. In addition, candidates must have a background in real estate, finance, economics, and other relevant disciplines to help them make correct property evaluations.
REIT Analyst Profession:
Real estate analysts are responsible for providing financial analysis to support property financing, acquisition, marketing, and leasing. They advise real estate companies and other firms based on economic conditions, market trends, and financial situations. REIT analysts make various property models based on the current assets and acquisitions. They are for making educated real estate property decisions on behalf of the firm; hence they need to have great insight into the financial field. Research abilities, organizational skills, analytical abilities, micro, and macro business ideas, and a bachelor’s degree in business, accounting, finance, or economics are necessary to get this REIT role. It is one of the best-paying jobs in a real estate investment trust.
Real Estate Investor:
One of the most profitable jobs is investing in real estate. But this job includes high risk and a lot of experience. Extensive research is the need to excel in this field. The roles in this job include:
- Purchasing real estate assets or shares.
- Creating value for them.
- Selling them at the right time when the price is high.
To generate a decent return, an investor needs to know the ins and outs of property acquisition and the right time to sell them. For better profit, thorough market research is necessary.
Real Estate Attorney Jobs:
Lawyers play a significant role in real estate investment trusts. They act as mediators between investors, businesses, and customers. Legal papers need to be signed, and they come in again. Real Estate properties need a lot of paperwork, and that’s where Real Estate attorney play their role. Attorneys settle legal problems about property ownership and transactions. They negotiate title deed issuance, transfer, paperwork, and other legal issues related to real estate ownership. Attorneys advise customers and REIT firms to follow the proper procedure to avoid future real estate transaction disagreements. A “real estate attorney” is the best-paying job in a real estate investment trust.
If you have a question in your mind, is a real estate investment trust a good career path? Then The answer is definitely yes. It is an excellent career path. Today everyone has started looking at real estate investment as a good income source; therefore, everyone is interested in investing little or too much in these trusts. It is high time; if you are getting a breakthrough on this career path right now, you can never imagine how your lifestyle and income source will boost within the next decade.
If you have doubts regarding how many jobs are available in real estate investment trusts? And is there a suitable job for you? Just be assured if you are a student of economics, finance, or anything related to commerce, then you have a good chance in the real estate market. Whether you are a lawyer, law student, or anything beyond that, the investor job is still on for you. It is the right time to enter the industry and put all your time and effort into it. Here in this article, we have tried to mention all the best-paying jobs in real estate investment trusts, how to get these roles, and what skills and qualifications you should have. I wish you all the very best in your career endeavors.