Real estate has always been a diverse and promising field. In its current situation, it offers a plethora of job opportunities along with huge incomes and bonuses, provided one has a rich practical experience and expertise in it. The most significant aspect is that it is a stable field and has been around for the past many decades altogether.
That being said, the chances of growth opportunities in real estate are expensive for people coming from diverse backgrounds. With the coming up of Real Estate Investment Trusts (REITs), the sector is likely to undergo a transformative change in the years to come. Thus, we will today discuss some of the best-paying jobs in real estate investment trusts.
What are Real Estate Investment Trusts (REITs)?
To put it in simple terms, REITs are basically legal entities of investment that own, operate, or finance any income-producing real estate. This means that they are companies that act as owners, managers, and guardians of real estate investments. Real Estates that come under their ambit include shopping malls, office buildings, motels, warehouses, and a lot more.
In a developed country such as the US alone, there are a total of $3.5 trillion in assets owned by REITs. This figure easily corroborates the fact that the real estate sectors offer a huge return on investments (ROI). The figure amounts to a lot more in developing and under-developed countries where the infrastructure is still in its incipient stage. It is known to offer some of the best-paying jobs in real estate investment trusts, amounting to the economy.
Different Types of REITs:
- Medical REITs: These are those types of REITs that focus on hospitals, clinics, research centers, and a lot more. With an increase in emphasis on medical facilities by national and state governments across the globe, their demand will also grow exponentially.
- Debt REITs: These focus on providing loans via debt and other collateral to clients who are keen on acquiring residential or commercial properties.
- Merchandise REITs: These types focus solely on the retail industry, such as consumer malls, supermarkets, departmental stores, and outlets. As online e-commerce giants such as Amazon and Flipkart look forward to setting up their feet on the physical ground, these have a solid chance of growth in the future.
- Domestic REITs: These deal with investments in residential projects such as apartments, complexed, and other housing projects.
Best-Paying Jobs in REITs
After having seen the associated advantages of working for REITs, we take a cursory look at some of the best-paying jobs in real estate investment trusts, especially the ones that come with streamlined growth trajectories and a good work-life balance as well:
Real Estate Acquirer
It is amongst the most successful jobs in the real estate sector with good growth. Their primary job responsibility includes negotiating and acquiring a REIT after adequate research and number crunching have been done on the same. With an estimated salary range of $92,000 – $164,000 per year, a person with a finance, business, or economics degree is best suited for this job. The earning potential is dependent on the number of years of experience the person has on their side.
Real Estate Broker
They work as an intermediary during the buying and leasing process for both buyers and sellers during real estate transactions of properties. Having said that, communication and negotiation skills are vital for the said job profile. The estimated salary is an average of $86,467 per year, excluding incentives. A person can be of any educational background. However, acquiring a real estate license is the first step before venturing into this field.
Real Estate Agent
The role of a real estate agent is more customer-oriented in nature. This means that a high level of communication and interpersonal skills are vital for this role. They help with each and every aspect of the property transfer process between customers themselves. This role has an average base salary of around $95,000 per year, and a person can be a graduate in any field.
Real Estate Property Appraiser
Their major expertise lies in determining the market value of the property built/ acquired. They use practical skills to devise approaches for cost determination. The salary for this role ranges around $65,000 per year, and it is highly dependent on the number of years of practical experience.
Property Manager
Property Managers are a go-to point of contact for all operations-related activities with respect to any acquired property. They are responsible for all operations-related activities with respect to any acquired property. They are responsible for ensuring proper upkeep and maintenance, rent collection, and resolution of tenant queries. They can earn anywhere between $45,000 – $80,000. Generally, a person with an MBA in Operations is highly suitable for this job position.
Property Developer
Property developers are responsible for recruiting and managing contractors for commercial and residential properties that are either built or acquired. They look after the entire project, right from the planning stage to completion, which can be stressful at times. The salary range for this job profile is $80,000 – $100,000, with an average of $90,000. Key management skills are extremely vital for this role, and hence MBA graduates are highly preferred.
REIT Investor
The job of REIT investors is highly strategic in nature as they are responsible for developing business ideas and strategies. These roles have an earring potential between the bracket of $77,000 – $109,000, depending on the nature of responsibilities; years of experience add value to this role, and generally, MBA in finance is preferred.
Investment Analysts
They act as a bridge between finance and acquisition teams. Their role is more data-oriented as they work on raw data to deliver data-backed results and statics. They earn anywhere around $99,000 per year, including bonuses. Candidates from Business Intelligence or Data Science are highly preferred for this job role and the earning potential increases with the passage of time.
REIT Lawyer or Attorney
The role of an attorney in real estate can not be understated. They help in overcoming legal hurdles and obstacles that may come up while purchasing or running an acquired site. The usual salary bracket is $100,000 – $150,000, although it is highly dependent on their experience and expertise. Candidates should possess a law degree with good years of experience on their resume.
Site Acquisition Specialist
The role of a Site Acquisition Specialist is quite nuanced as their responsibilities are not only limited to selecting and acquiring a site but also dealing with the technicalities, both legal and specific, of the acquired site. With an average salary of around $85,000, it is certainly one of the best-paying jobs in real estate investment trusts.
Finance Manager
The role of a finance manager is instrumental in the real estate sector. Though it is mainly a desk job, its exposure is wide and large. They are responsible for financial modeling, budget forecasting, report mapping, and a lot more. The average base salary is around $103,000, increasing substantially with years of practical experience. MBA in finance is highly mandator to apply for this job role.
Marketing Head
The most prestigious role, both in terms of salary and stature, is that of Head of Marketing. They are responsible for managing the entire gamut of activities in their department. They are responsible for attracting new business and investors, building strategies, and reporting to the President of the company. The salary for this role is around $110,000.
Benefits of a Career in REITs
Jobs in Real Estate Investment Trusts offer many unique perks and benefits for those who wish to become part and parcel of this sector:
Stability of the Sector
The real estate sector has always been a booming sector owing to the simple fact that all emerging economies sincerely invest in physical infrastructure. Having said that, the chances of a slowdown in real estate are rather slim. Therefore, people looking for a stable career can think of real estate as a novel option.
High Incomes and Incentives
REITs are synonymous with high incomes and salaries. The incentives and profit margins are huge in themselves. Those who wish to earn some extra bucks can always think of a career in real estate.
Robust Career Growth
People who are troubled with stagnancy in their current job profiles always look up to the lavish career growth trajectory in the real estate sector. The best-paying jobs in real estate investment trust not only offer the exciting opportunity of working with one of the most renowned brands under one roof but also provide unmatched career growth options.
Flexible Work Environment
Working in REITs comes with its own perks and privileges, such as setting up your own schedule of work. It means you can be your own boss. As long as you are able to meet the deadlines and get your work done, there is nothing you need to worry about!
High Opportunity Cost
REITs offer a significantly high Return on Investment (RoI) for investors who invest in them. The investors have a diversified portfolio of real estate assets to choose from without the need to purchase or manage the properties themselves.
Final Remarks
Now that we have explored various job roles in REITs and understood the key requirements along with the offered compensation packages attached to each of them, we can safely say that the real estate sector is filled with a number of best-paying jobs in real estate investment trusts.
We have also briefly looked at the benefits of working in the real estate sector, but it goes without saying that, like any other sector, it is also filled with great hustle.
It is up to you to decide which role is best suited for you, keeping in view your present and long-term goals and aspirations.
So choose your role, update your resume, and grind the hustle!
