Being a residential real estate agent is the most common career path in the real estate industry. However, there are other options in the industry that you might not have considered beyond a residential agent. These additional career opportunities allow you to stay in the industry while exploring other options. These options sometimes provide more flexibility, higher or lower responsibilities, or are more challenging.
Here are you few challenging and rewarding opportunities in the real estate industry you might not have thought of.
Real estate managing broker
The difference between a broker and an agent is that a broker is a licensed real estate professional who manages an office with multiple agents. A real estate broker takes continuing education classes in order to become a qualified broker. This is a great opportunity for an agent who wants to expand their career and start their own business.
Commercial real estate agent
Commercial agents research and secure locations for businesses. These agents conduct research to find the best location for businesses to increase revenue. From office spaces to locations of a major shopping center, commercial agents often research statistics on location to find the best spot for their client.
Real estate investor
Real estate investors are either passive or active. Active investors are house flippers while a passive investor is one who funds real estate projects without working in the day-to-day operations of the project.
Appraisers collect information either about residential or commercial properties to provide a recommendation of the property’s worth. Both types of appraisers split their time between the office and out assessing properties. They can work privately, for a broker, or for the government.
This does not require a license but still is included in the industry. Property managers work for both residential and commercial property companies, or own their own properties. These managers make sure that property is maintained and help take care of regular upkeep. Property managers also handle tenants and manage the outsourcing of maintenance tasks.
This career path focuses on ensuring there are tenants in rental properties and is perfect for someone with marketing, sales, and negotiating experience. Leasing consultants market properties and get the word out about special promotions. They also organize events and give tours of properties. Leasing consultants work in both the residential and commercial markets.
These specialists work for both banks or private lenders and are responsible for managing documentation and processes in the foreclosure process. They also review financial statements and make sure property can be re-sold as soon as possible. This is ideal for someone who is organized and works well with strict deadlines.
Corporate real estate manager
Many large corporations have office and commercial space to manage. Corporate real estate managers work for these companies and manage real estate holdings for the company.