But exactly how many jobs are available in Real Estate Investment Trusts? Is it a lucrative profession for those who want to live comfortably? The real estate industry is growing every day. Additionally, the pandemic demonstrated that it is one of the only investments that pay off for people.
A commercial structure was beneficial, regardless of whether firms used it for its intended use. Hotels served as quarantine facilities, and offices distributed their storage space to keep drives.
Aside from commercial areas, millennials and Gen Z understood the value of home ownership. It is essential to comprehend what REITs are and their various forms before researching all of those solutions. According to estimates, REITs helped the American economy create 2.9 million full-time employees in 2020. (source).
I’ll explain how many REIT jobs there are and what they entail in this article.
A type of security known as a real estate investment trust, or REIT, owns and manages properties that generate income. Without needing to buy a piece of real estate, REITs are a fantastic method to invest in it.
You are merely investing in a business that owns and manages real estate when you purchase a REIT; you are not purchasing any real estate.
The corporation will keep the properties it buys rather than sell them to make money from rent or lease payments. Real estate investment trusts (REITs) often hold and manage income-producing properties.
The long-term lease agreements supporting the REIT assets provide income and offer a degree of stability, allowing its investors to benefit from real estate market gains without physically purchasing real estate
To answer the question of how many jobs are available in real estate investment trusts, REIT businesses employ 308,000 individuals full-time. Furthermore, real estate investment trusts indirectly support nearly 2.9 million full-time jobs.
From development to asset management and property upkeep, a real estate investment trust (REIT) is in charge of every facet of a real estate project. This suggests space for agents, project managers, and many other professionals.
Additionally, employees of a REIT must ensure the profitability of the trust’s assets and real estate portfolio. As a result, experts are also managing these portfolios and assets.
REITs offer numerous employment opportunities. In comparison to other segments of the real estate industry, it has the potential to command a far larger revenue.
Here are a few of the REIT positions with the highest salaries.
Acquisitions: Finding new investment opportunities requires acquisition positions in real estate investment trusts. Additionally, the fast completion of transactions is ensured by these jobs.
The majority of REIT acquisition positions are well-paying and plentiful. This role is open to anyone with a degree or acquired skill in business, marketing, finance, or capital markets.
Asset Management: Asset management is one of the jobs in the REIT sector with the highest salaries. The financial and operational success of a REIT’s asset portfolio is under the control of an asset manager.
Most people start out in acquisitions or property management and work their way up to asset management. As an alternative, a person with the right training and credentials can get employment in asset management quickly.
Collaboration between several departments, including acquisitions, finance, development, and accounting, is necessary for asset management.
Property Development: One more way to make money in this growing sector is to work as a real estate developer. Managers of contractors and subcontractors work in real estate. They work together to organize and monitor the building of a new home.
A degree in a subject like civil engineering, architecture, business, or urban planning is required for a real estate developer.
They also need to possess the following skills:
- extensive firsthand understanding of the real estate market
- thorough knowledge of finance
- outstanding organizational skills
Property Management: There are property managers, just like there are property developers. Compared to property developers, property managers just need to adhere to a few requirements.
Engaging with clients and selling or renting out properties at the best pricing based on market rates are the duties of a real estate property manager.
The following skills are necessary for a property manager working in REIT to be successful:
- Customer service abilities
- Aptitude for solving issues
- Finance expertise
- Marketing expertise
- Management skills
Investor Relations: The investor relations department mainly works with REIT shareholders to control all communication. Their group is in charge of planning and assembling materials for the annual meetings, such as the proxy statement and annual report.
A person working in investor relations in middle management may receive a sizable income. Individuals must, however, possess a foundation in accounting and finance and an undergraduate degree to be considered for the post.
Leasing Consultant: The public face of the real estate sector is the leasing consultant. They help clients choose homes and properties that suit their needs and budgets.
It is a great place to start if someone wants to advance in their profession and take on positions like marketing director. To thrive in this career path, you must be thoroughly aware of the local real estate market.
Additionally, a candidate for this position must be proficient in advertising and promotion. Prior work in the hospitality or retail sectors may be useful because it helps improve soft skills like interpersonal abilities.
Real Estate Property Appraiser: An appraiser for real estate determines the value of a residential or commercial property. Some market and economic factors affect the value of any property. Real estate appraisers note each element to calculate a property’s worth.
One must first pass an appraiser training course and obtain a license before working as a property appraiser. For accurate property assessments, candidates also need a background in real estate, finance, economics, and other relevant fields.
Real Estate Investor: Being an investor is one of the real estate trust industries’ highest paying jobs. This is among the most lucrative career paths available in this industry. Real estate investing involves buying real estate assets, adding value to them, and reselling them for a profit.
Although extremely profitable, there are several difficulties with this. An investor needs to be knowledgeable about buying and selling properties in order to get a respectable return. Therefore, in-depth market research is required.
Real Estate Attorney Jobs: In real estate investment trusts, attorneys are crucial. To begin with, they act as a liaison between clients, sellers, and the REIT firm. Contracts must be signed in order to purchase real estate. As a result, lawyers must act as a mediator on behalf of all parties.
Legal issues involving property ownership and transactions are resolved by attorneys. They discuss documentation, title deed issuance, transfer, and other real estate-related legalities.
Lawyers can offer legal advice to clients in both the consumer and corporate sectors. By ensuring that everyone involved follows the proper protocols, this helps prevent disputes in any real estate transaction.
Investors have a selection of REIT funds to consider. There are two main categories of REIT funds:
Given that its primary source of income is from physical assets, an Equity REIT is a traditional real estate company. Since it is a full-stack owner and operator, the equity REIT oversees the property. But they do hire a third party to look after the assets.
Instead of real assets, mortgage REITs include investment in commodities tied to mortgages. It has a far more important financial goal than equity REITs.
Mortgage REITs buy mortgages or securities backed by mortgages (MBS). There are two types of these: residential and commercial. Similar to exchange-traded funds or mutual funds that one may already own, the majority of them are traded on major stock exchanges.
What Is The Job Outlook For People In Real Estate Investment Trusts?
The real estate business is expanding and there are many opportunities for those who are interested in this field, thus the job prognosis for those working in real estate investment trusts is favorable.
The real estate sector offers many prospects for growth because it is an area that is always developing. It is anticipated that employment opportunities in real estate investment trusts will increase by around 10% annually. The availability of high-level posts will therefore increase during the following several years.
Additionally, to begin at a managerial level, 30% of all REIT employment demand a business degree. You can, however, obtain entry-level jobs to start your career.
To make wise investing selections, you should be able to recognize opportunities and do data analysis.
You should have a background in accounting, investing, and financial analysis. Since you’ll frequently interact with clients, investors, and other industry professionals, excellent communication and interpersonal skills are crucial.
When contemplating a career in real estate investment trusts, numerous variables exist. The most crucial factor is verifying that this is the appropriate professional route for you. Working for a REIT has many advantages, but you should be sure you’re up for the challenge.
Learn as much as you can about the subject. You may learn everything you need about real estate investing from the numerous courses and programs available.
Once your education is complete, you should begin expanding your network. Setting yourself up for success involves getting to know other industry professionals and connecting with prospective mentors.
Finding employment in the sector is the last stage. Finding the firm that is best for you requires investigation because there are numerous chances out there. With the correct preparation, you can be on your way to a great career in real estate investment trusts! Working in REITs can be a rewarding experience!
Real estate investment trusts are the ideal strategy to expand your portfolio’s revenue and growth without harboring many worries. The number of jobs offered by real estate investment trusts (REITs) for those eager to work there is as follows.
Additionally, if you are aware of any additional information regarding the employment opportunities in real estate investment trusts, please add it to the comment section below.