Launching a career in real estate can be an exciting venture, especially if you are changing careers. With that in mind, however, understanding the different types of careers that are in the field, along with the lifestyle they afford, can be challenging. The last thing anybody switching up their career goals needs is to receive their license only to have no idea what they actually want to do in the field. Learn about the different lifestyles that can come from a career in real estate so that you can determine if this path is right for you.
What is the Real Estate Market?
Defined broadly, the real estate market refers to the large grouping of land and buildings that offer natural resources or general property. The interest that is vested in this land or property is where the real estate market comes from. Depending on wider economic and societal factors, investments in the real estate market, whether it be homes, land, or something else, will vary drastically. Jobs in the real estate market typically revolve around this fluctuation, whether it be capitalizing off of it or determining how much it has fluctuated.
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5 Common Real Estate Jobs
It’s important to tackle demystifying the real estate exam before you ever look at launching your next job. Do this by completing all required courses before submitting your application. As you start to launch your career in real estate after acquiring a license, however, there are a few career options to choose from. Think about launching your next steps in one of the following paths:
Real Estate Agent
One of the most common jobs in real estate is that of a real estate agent. Professionals within this field specialize in facilitating real estate transactions between a buyer and seller and will work to show the house to those interested. Real estate agents almost always work on a commission basis and are often employed by a brokerage firm along with a number of other real estate agents.
Real Estate Broker
As mentioned, a real estate broker typically employs a number of real estate agents under them and has a more specialized skillset in regard to facilitating these transactions. More often than not, a real estate broker has gone through additional levels of certifications to allow them to perform more complex real estate duties.
Property Manager
A property manager is a person, or an organization, that typically owns and operates real estate property for a fee. When the owner themselves is not able to attend to their property on a regular basis, the property manager is the person in charge and they operate on a fee basis.
Commercial or Residential Appraiser
Commercial and residential real estate appraising is another common career path in the field. These professionals create a valuation for real estate property based on the features of that property and the comparable real estate market. Commercial appraisers work with buildings whereas residential appraisers work with homes.
Real Estate Developer
Finally, a real estate developer is the person who oversees all of the people who build and construct offices, homes, and everything in between. In many cases, it is their job to take an empty plot of land and turn it into something that is built up and developed.
Key Lifestyle Factors of Working in Real Estate
When entering the field of real estate for the first time, it’s important to develop an understanding of the lifestyle you are beginning to involve yourself with. Some general notes about the real estate lifestyle to keep in mind include:
- Real estate is not your typical 9-5 job with set hours
- Many jobs in real estate are commission based instead of salaried
- Real estate is a game of networking, which means training your interpersonal skills is important
- Earnings from jobs in real estate typically start slow before ramping up after a number of years
- Succeeding in real estate requires defining a work-life balance that leans more toward work in the early years
Build the life you dream about today
Real estate is a more complicated field than most people are led to believe. It can take anywhere from half a year to a full year to acquire a real estate license, and even longer to start building your book if you are trying to become an agent or broker. Connections are everything when it comes to many careers in real estate, so take the time to build your network during and after the process of getting your real estate license.
