Marcus Marion, CMA™ There’s a reason many investors consider real estate a highly lucrative sector for their money. In favorable times, the market can help you make several-fold returns on your investments. Even better, real estate doesn’t only involve the selling and buying of properties, especially when you dive into Real Estate Investment Trusts (REITs).
REITs have a variety of high-paying positions. You can generate an income from real estate in various ways, not just through property ownership, management, or investment.
In the upcoming years, job competition in the REIT sector will likely intensify, given the anticipated expansion of the real estate market. Fortunately, several options exist in the real estate investment trust job market, which is good news.
This article will discuss the top 10 real estate investment trust jobs in terms of salary, job growth prospects, required education, and the number of available positions. Whatever your educational background and experience level, REITs still have several well-paying positions open. In 2023, these REIT jobs pay the most:
1. REIT Analyst
REIT analysts are critical to the success of a REIT. This is probably why they earn about $100,000 annually, which puts them among the best paying jobs in real estate investment trusts.
Consequently, the major requirement for you to take on this role is a bachelor’s degree in finance or real estate. Moreover, you’ll need to be able to research, analyze, and come up with plans for both new and old real estate opportunities.
They give the results to the acquisition team, which uses the information to decide if the REIT should invest. Other market opportunities are also considered and valued by REIT analysts.
2. Real Estate Property Appraiser
A real estate appraiser is someone who can assess a property’s worth. These properties are either residential or commercial. The market and other economic factors aid the appraiser in determining the value of a property.
Before enrolling in and completing any appraiser training programs, you need an appraisal license. A solid educational background in finance, economics, real estate, and other related fields is among the requirements for the license.
Appraisers of real estate properties use several economic indicators to arrive at an opinion of value. Hence the requirement of a sound educational background and adequate experience in assessing and determining the value of the real estate.
A person holding this position may earn about $60,000 annually. However, they can earn more in this position if they have a peculiar understanding of the real estate market and how factors like location can make or break an investment. This will also make them more successful.
3. Real Estate Attorney
Becoming a lawyer is another viable career path that keeps you within the REITs’ purview. Buying a house entails a slew of legal stumbling blocks and paperwork. If the company has legal issues while purchasing or operating real estate, it is prudent to have an attorney act on its behalf.
This is because lawyers can apply their knowledge to legal proceedings such as loan contracts and other legal matters.
A real estate lawyer will handle all legal paperwork related to purchasing and operating property on behalf of their employer and will even represent them if any problems arise.
Furthermore, real estate lawyers work to resolve a wide range of asset ownership and transfer issues. An attorney mediates on matters involving real estate titles, documentation, trades, and other related legal issues.
4. Real Estate Broker
The role of a REIT broker is similar to an agent in many ways; the main distinction, however, is who they work for. Real estate brokers have a higher certification and complete additional training, enabling them to work independently and even hire other agents to work for them.
While a broker can act on their behalf without being a member of a brokerage firm, an agent cannot. So, although both agents and brokers make meeting real estate property sellers and buyers easier.
Before starting your brokerage, you must possess one to three years of experience. as a real estate agent.
5. Real Estate Agent
Being a real estate agent entails assisting people in purchasing or selling real estate. It remains one of the most popular REIT jobs, though there are different specializations.
You can either become a commercial or residential real estate agent. Residential real estate agents act as middlemen by connecting homebuyers and sellers. These properties include houses, condominiums, and beach houses, among others.
Those who work with commercial real estate also connect buyers and sellers. Shopping centers, resorts, hotels, warehouses, and rental apartments are examples of properties in this category.
Real estate agents are there to assist individuals in buying or selling properties. The obligations of an agent might differ slightly based on where they work and what they do. This is due to the differences between various brokerages or REITs.
Real estate agents average $100,000 per year, and it may vary as it depends on qualifications, education, experience, etc.
6. Site Acquisition Specialist
If you are searching for a high-paying job in the REIT industry, think about becoming a site acquisition specialist. Most experts suggest this career path when asked how to make money in real estate. They handle the intricacies of purchasing property, such as negotiations, acquisitions, and a REIT’s legal and contractual obligations.
They aim to ensure the company pays a reasonable price for its properties. The position necessitates a thorough understanding of entitlements, building regulations, and leasing. It also requires a bachelor’s degree in business, finance, or economics.
All these requirements are not for nothing since, as a site acquisition specialist, you stand to make somewhere between $130,000 and $160,000 annually.
7. Real Estate Developer
The brightest lights in the REIT world are property developers. It is a highly desired role in the industry, with salaries ranging from $80,000 to $100,000. However, since they must oversee complex projects from start to finish, the position may necessitate an MBA.
This involves managing the budget, working with and potentially firing contractors, and keeping the development process on track. It helps if you have prior experience.
8. Property Manager
The job of a property manager is financially lucrative since you stand to earn salaries ranging from $70,000 to $120,000 by taking on this role. The pay gap depends on the managerial experience and workload that you are given. Moreover, this career path has a high potential for professional advancement.
The low requirements for the position make it even more eye candy. It is among the highest-paying REIT jobs that require only a high school diploma. However, though the position requires no formal qualifications, having a bachelor’s degree or experience in the field can give you a great advantage.
Property managers play various roles in the real estate investment industry, depending on the needs of each REIT. A property manager’s responsibilities may include meeting the needs of property owners, tenants, and investors for residential or commercial properties.
Your role as a property manager may include overseeing rentals or managing multiple locations with rental potential, depending on the type of REIT.
9. Head of Marketing
If you have a natural knack for influencing people’s purchasing behavior, you can head the marketing team of a REIT. This position pays well and is so much fun.
The head of marketing promotes the company to attract new clients and investors. After closing deals or putting up structures, you will be responsible for marketing the properties.
A strong marketing leader is essential to growing the REIT’s customer and investor base. After a commercial building opens for business, the marketing department brings in tenants and customers. While your primary focus will be B2B marketing, you may also be responsible for B2C initiatives.
10. Investment Analyst
This position critically impacts on a REIT’s success and acts as a go-between for the finance and acquisitions teams. Investment analysts check that the information gathered for a new project is valuable and often offer their opinions in addition to those of the higher-ups.
More importantly, investment analysts add value to the decision-making process for executives working for real estate investment trusts. They accomplish this by advising on investing in a particular real estate property.
Due to the executive nature of the job, you need a bachelor’s degree in business, investment management, or finance to work as an investment analyst.
They examine various real estate properties to determine which will be profitable investments for the REIT. They play an essential role in the real estate industry by advising upper management on the company’s investment strategy.
Investment analysts collaborate closely with the finance and acquisitions teams of the REIT. Any new project’s data and research must pass scrutiny to be considered actionable. Analysts can also provide additional information about potential investments.
Summary
The real estate market is constantly expanding, particularly due to the fact that an infinite number of people are searching for a place to live or work. Fortunately, this is great news for REITs because it translates into numerous job opportunities.
Working in the real estate investment trust sector is a rewarding career path. It offers numerous comprehensive benefits, consistent income, and even insurance. As seen above, many job opportunities exist in the real estate industry. We hope you choose the right REIT career path.
