Making a career choice is one of the most intimidating decisions in our lives. We spend plenty of time figuring out the opportunities and drawbacks of each field and try to choose something exceptionally great. If you are also researching areas for your career, you must have come across a real estate investment trust (REIT).
So, you must wonder, “Is real estate investment trust a good career path?” According to current marketing trends, it is a very productive field, providing high-paying job opportunities to individuals in various areas such as property management and development, asset management, and business research.
If you are confused about the career options in real estate investment trust and want some expert to guide you thoroughly about the exposure and job opportunities here, this article is for you. Keep reading the guide, and we will tell you about different services in REIT, along with the duties and specialization required.
Jobs available in this field
The government pays particular respect to real estate development when the economy is under threat. The investor considers it a reliable source of income and invests millions of dollars. When there is an associated income, there must be job opportunities.
Let us see the different jobs that are available in Real Estate Investment Trusts. You can choose the best that fits your needs or expertise:
It is the most lucrative way of making money in real estate. In this position, you have to handle all the operations involved in property dealing (see more here). These managers are also aware of customer service advantages to grow their business as well.
It is the best career option if you want to explore real estate without investments. For this job, you should be highly proficient in the logistics department.
They are the backbone of the real estate investment trust and assist in completing various commercial and residential property projects. These executives work with contractors and subcontractors in the entire project and finance the property development.
It is a fieldwork job that includes different managerial and non-managerial tasks. You should have high knowledge of sites and development materials for this job.
They look after all the investors’ assets and are responsible for the financial and operational performance of the portfolio assets. Most real estate agencies hire these professionals to check holdings after the company’s president.
It replaces the downfalling assets with better ones and provides a higher return to stakeholders and investors. You should have a degree in finance or other business-related fields to get a job as an asset manager.
These real estate investment trust gems find new opportunities to invest and earn profit. They observe the different development programs, analyze their growth chances, and urge investors to spend for better results.
This job profile demands special skills in financial analysis. Further, you should have a vast knowledge of capital marketing and investments to work as an acquirement analyst.
Benefits of REIT Jobs
A career in real estate investment trust is utterly different from traditional jobs. There are several advantages of these jobs:
- You work as a contractual worker and do your business on your rules and choices.
- You don’t get a monthly income. Instead, your pay depends on your contribution to every sale and profit.
- It is not a 9 to 5 job. You can arrange meetings and site tours according to your routine.
Can you work for a REIT?
First of all, if you are considering working or performing in the Real Estate area, it is convenient that you consider certain questions. One of them is to be sure that it is a real interest, not just a plan to make money.
You may be on the right track if you have management skills because you already have some experience or have studied for a related university degree. It is also important to consider communication skills. Remember that you must know very well how to interact with other people. Your future success depends to a large extent on this.
So, can you work for a REIT? It depends on the responsibilities. Usually, the career path in the REIT industry starts in any position, usually an entry-level one. You can start working in the secretarial area and eventually work your way up.
For example, if you get a job at a property management company, you will most likely find it easy to work for a REIT. You may also work as a property manager or similar for the same company. If so, the trust usually takes care of several rental properties, which it maintains and protects on behalf of its clients.
How do I become a REIT analyst?
If you are sure that this is your path to follow, then you should know that you need to train to become a REIT analyst. For this, you need a college degree in business administration, finance, or simply real estate.
Let’s analyze the following steps to follow to become a Real Estate Analyst:
- Obtain an undergraduate degree in the field
Any real estate company will opt for an applicant with a bachelor’s degree in the area, although they also look for profiles focused on finance, business, or accounting. The latter usually have auditing and accounting systems knowledge, which is a plus.
Getting a job as an intern in Real Estate during college will be very valuable when you formally start your career in the field. So, if you are still in school, look for an internship, even if it is unpaid. It will earn you extra points against the competition in the long run.
It is also advisable to take courses in digital tools or programming systems. The Real Estate world does not escape from technology. On the contrary, it is increasingly immersed in it. So these tools are also helpful for becoming a REIT analyst.
- Get some experience
You can start looking for an entry-level position if you already have a bachelor’s degree. Typically, REIT analysts start as real estate agents. In fact, every state in the country now requires both commercial and residential licensing to become a REIT analyst.
Agents sometimes enter the field as brokers, depending on the state. In some, brokers require experience as an agent, while others let licensed beginners start operating their brokerages. Check the legislation in your region.
- Think about obtaining certifications and other specializations
Even though a degree is enough, having different degrees or specializations increases your chances of finding a job as a REIT analyst. For example, you can pursue a master’s degree in tax or business administration.
On the other hand, you can obtain a commercial certificate as an investment member at the CCIM Institute. Credentials also add up when interviewing for a job in the real estate field.
Any other certifications in finance or data analytics will be valuable. These will highlight your education and experience and make it easier for you to become a REIT analyst or agent.
How much do you make working for a REIT?
It depends on the position. In the case of an entry-level Real Estate Investment Trust job, the salary (for 2023) is $91,851 (per year). This translates to $44.15 per hour, according to ZipRecruiter. However, the range is $55,000 to $115,000.
If you have experience and a good education, you can go as high as $150,000 annually. Location is another aspect that also makes salaries vary. In the following list, you will see how much a person in the REIT field makes per city in the U.S.:
|City||Annual Salary||Hourly Wage|
|Santa Clara, California||$112,261||$53.97|
|San Francisco, California||$108,492||$52.16|
As you will see, California is the state where a REIT analyst can make the most money. It is even higher than the national average, which is entry-level positions. If it is a senior position, the salary will be higher and come with better benefits.
For example, a Real Estate professional, according to ZipRecruiter, makes about $184,000 per year. Without a doubt, it is an excellent career path as long as you have the experience and dedication to carry it forward.
Real estate investment trust is a very successful field globally and provides substantial career opportunities for individuals to earn huge amounts of money in a minimal time. So, you must take a chance in this industry if you want to grow faster.
That is all from today’s tutorial. If you are still getting any difficulty finding a REIT career, feel free to contact us for any help!
- Entry level real estate investment trust salary – ziprecruiter (no date). Available at: https://www.ziprecruiter.com/Salaries/Entry-Level-Real-Estate-Investment-Trust-Salary