Career Options in Real Estate that Raise the Excitement Level
One of the industries with consistent and rapid growth rates is real estate, not just in India but around the world. There are many different career options in real estate industry, but they are also in high demand. The majority of career options in real estate are lucrative yet call for a degree, license, or other credentials. For those who are determined to be their bosses and create their schedules, there are several work prospects in the real estate industry. The fact that you may generate a sizable income in real estate distinguishes it from most other “be your own boss” prospects. In this article, we have listed exciting career options in real estate with their job role and potential salary.
Introduction
In addition to being enormous and expanding quickly, it is predicted that by 2025, the real estate sector will account for 15% of employment and 35% of the GDP of our nation. For people who are interested in helping with the management, purchase, and selling of properties, there are many interesting career options in real estate. Depending on one’s preferences, one can opt to work in residential, retail, or commercial real estate. You can choose the career options in the real estate sector that best suits your talents and preferences by understanding the roles and responsibilities of various professions. But first, let’s understand what precisely real estate is and what it encompasses before delving further into the eight unique career options in real estate.
The buying, selling, renting, and general maintenance of a property on behalf of their clients is the core activity of the real estate sector. Residential and commercial structures, as well as lands, are included in this. For those with vital skills and knowledge, many career options in real estate can help with the acquisition of home mortgages, the sale of the property, the management of rental units, the development of new properties, as well as the listing of real estate for sale. However, the real estate market offers a wide range of employment opportunities so that you can customize your professional path.
You may decide to:
- You can work for a company or on your own
- With greater structure or flexibility,
- Have greater or lesser stakes, and
- Work for a fixed salary or on commission.
Interesting Career Options in Real Estate
Since the real estate sector is always changing and expanding, there is a high demand for the various professions and skills that are related to it. For people who don’t enjoy working typical 9–5 jobs, career options in real estate provide a lot of advantages. There are many real estate career options, but we’ve compiled a list of 8 that we think you’ll find particularly interesting. This article will teach you about interesting career options in real estate, each with a suitable work description, pay range, and educational qualifications to help you choose the best career route. Let’s get going:
- Real Estate Investor: It is one of the most exciting and lucrative career options in real estate. An investor’s responsibility in real estate is to purchase land or buildings, try to grow their profitability, and then sell the buildings. This career involves a lot more than just buying and selling. An investor in real estate has to know when and where to purchase investment properties. To begin turning a profit, they must possess an in-depth familiarity with the real estate industry. You run the danger of losing your money and investment when you make blind purchases.
A real estate investor must also meet the following requirements:- Having enough money to purchase land or buildings.
- Being willing to accept the danger that comes with the profession.
- Understanding and evaluating the greatest properties’ profitability
- Understanding the various real estate assets, such as commercial and residential properties, and using investment techniques like rental, fix-and-flip, buy-and-hold, etc.
There are several advantages to becoming a real estate investor, one of which is that you can start with a small investment and grow it into a significant return. Also, you can begin investing passively after you begin to comprehend the market and the factors influencing prices. There is no standard wage for this position, although, in India, a real estate investor makes an average of 3.6 lakhs per year.
- Real Estate Developer: Real estate developers are experts who seek to buy land to develop rental properties. It consists of both residences and office buildings. They are also in charge of organizing and creating the building’s construction plan, as well as raising the necessary funds and employing the necessary labour. It implies that in addition to working with contractors, engineers, architects, and other experts related to the many parts of the property, real estate developers also collaborate with leasing agencies.
Someone interested in this professional path should have a four-year degree in architecture, business real estate, urban planning, or civil engineering. Also, one needs a solid understanding of the economy, financing, planning process, and general real estate market to succeed in this line of work. To succeed in this job field, they must also have the requisite interpersonal communication[1] skills and multitasking abilities. Your real estate developer compensation will rely on a variety of factors, including your years of experience, the business you work for, and the kinds of real estate properties you construct. - Real Estate Attorney: Real estate attorneys are experts who use their legal knowledge and expertise to resolve property conflicts. For instance, the real estate attorney’s responsibility is to resolve the conflict, particularly in favour of their clients, when there are any legal concerns connected to the documents, issue of the title, transfer of property, and other legal problems. In addition, they try to guarantee that everything is done following the law by offering qualified advice throughout the real estate transaction process. It is one of the growth-oriented career options in real estate. If you are striving to hire a real estate attorney, get in touch with a recruitment consulting firm that offers IT recruitment services, legal hiring services, etc.
One must go through a lengthy study and practice phase if they are interested in pursuing this career option in real estate. You must have earned an LLB degree after graduating. Typically, the educational and practice stage lasts 6 to 8 years. After that, you must spend an additional two years gaining real estate law experience. A real estate attorney makes a fantastic compensation of ₹18 lakhs annually. - Property Manager: As previously indicated, some professional investors make passive investments in real estate, while others make investments in rental properties that they don’t manage themselves and employ an expert to do so. A property manager is employed to take care of their real estate investment and rental properties. It is the responsibility of a property manager to guarantee the property’s physical and financial stability both before and after a rental agreement. Also, you’ll need to check on the satisfaction of the rental property’s renters and coordinate with the landlord to make sure everything is running properly. It is one of the acclaimed career options in real estate.
One needs a broker’s license to work as a professional property manager. Together with it, one needs also to have a specific set of abilities, such as problem-solving, communication, management, and customer service abilities. A reasonable awareness of the general real estate market, finances, facility operations, and documentation will also be necessary if you want to succeed in this sector. In India, a real estate property manager can earn up to 4.5 lakhs annually. - Real Estate Appraiser: Many individuals are misinformed and think that a real estate appraiser and inspector do the same duties. However, this is untrue. The experts that concentrate on figuring out the worth of residential and commercial properties are known as real estate appraisers. A detailed understanding of how to value properties based on their locations, qualities, comparisons to other properties in the same location, and, of course, the economy is necessary for this real estate career path. It is one of the popular career options in real estate.
An appraiser’s license Is required to practice as an appraiser. One must pass a state-conducted exam and complete 75 hours of appraiser education coursework to obtain a license. With a real estate job, you’ll be engaging in finance and economics, so having a foundation in these subjects is advantageous. Also, you have the choice of appraising commercial properties either on your own or in conjunction with a bigger company. In India, real estate appraisers make about 4-5 lakhs a year on average. - Leasing Agent: Leasing agents are real estate professionals who work closely with property owners to locate the best renters for their rental properties. They have the option of working in commercial or residential real estate, where they lease their properties to businesses rather than individual renters.
Being in contact with both tenants and property owners calls for excellent interpersonal communication skills from leasing agents. You’ll spend a lot of time interacting personally with the client and tenants, so you should be able to handle conversations and negotiations. You will succeed in this form of real estate occupation if you have more knowledge of marketing and advertising. - Home Inspector: A real estate inspector looks over properties for any flaws or problems that the buyers, sellers, or agency will have to deal with. In the real estate sector, inspections are a crucial component of the deal. This is so that any problems and faults that could otherwise go unnoticed can be pointed out by a house inspector. A real estate inspector typically makes $7 lakhs annually in annual salary.
Depending on your state, there are different standards for becoming a home inspector. To fulfil your client’s expectations, you must, however, have the appropriate real estate qualifications. Like a home inspector, one should be knowledgeable about a variety of things, including plumbing, electricity, wall structure, roofing, and more. Because of this, the majority of home inspectors look for reputable training before beginning their real estate jobs. - Real Estate Loan Officer: As it requires paperwork and a background check, this career option in real estate is the most desirable but also the toughest. A real estate loan officer assists customers in getting a loan to purchase a property. In other words, they work with purchasers to fund their purchasing within their financial means. You need to be registered to work as a real estate loan officer, and to register; you need to meet the requirements. You must also be knowledgeable about finance because you will be assisting clients in navigating the financial aspects of their real estate acquisition. After all, you serve as their mentor while they negotiate the pressure that comes with money issues. A loan officer earns between 1-2 lakhs per year and works in real estate.
Conclusion
In addition to being one of India’s industries with the quickest rate of growth, the real estate sector also pays well compared to other professions. Although there are several career options in real estate, people often choose the most well-known and common one due to ignorance and lack of education. For you to comprehend and make an informed decision, we have highlighted interesting career options in real estate for you in this article, along with their requirements, prospective salaries, and educational backgrounds. To get started, every career option in the real estate sector requires either a license, certification, or specific educational background. We wish you nothing but triumph in the future!
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