When it comes to career paths in real estate, many people automatically think of “flipping” homes, the simple process of buying properties and selling or leasing them for a profit. However, this is not the only job opportunity available in the real estate sector.
There is a diverse range of career niches available in real estate, whether you’re looking to break into the industry, or considering a lateral or upward movement on the career ladder.
So whether you’re considering an apartment renting business for yourself, or finding an established real estate firm to link up with, we’ve put together several career niches in real estate you can get into.
Real Estate Transaction Coordinator
Real estate agents can easily have their hands full when it comes to all the responsibilities involved in real estate transactions. Because of the vast amounts of workload and multitasking, it can often leave little room for performing more customer-facing duties, and at the end of the day, a real estate agent does need to add a bit of charm and personalization to the process.
A real estate transaction coordinator is the person who can assist and help the real estate agent with all the paperwork, filing, and more. This isn’t to say that a transaction coordinator is like a personal secretary, they’re more like highly specialized project managers.
It’s not only real estate agents that enlist the services of transaction coordinators either, as many FSBO listings (For Sale By Owner) utilize transaction coordinators as well. Transactional coordinators are highly useful to homeowners that aren’t listing their home through the help of an agency.
This article describes the responsibilities of and how to start a real estate transaction coordinator business in more detail.
To summarize, a real estate transaction coordinator utilizes their vast wealth of experience to handle the complete transaction process, from start to contract closing. There’s a lot of details involved, including coordinating mortgages and loans, property appraisals, escrow management, as well as being in contact with several parties regarding the status of the process.
Transactional coordinators have made the lives of Real estate agents easier. As all of the documentation is always up to the mark, the earnest money will be transferred at the desired time, and all of the information will be entered into the client database system.
Real Estate Managing Broker
The managing brokers in real estate are like certified and professional real estate agents. Also, they have a license of setting up an office, hiring, and managing managers.
The broker is the professional who has taken the real estate career further in terms of education and resource.
Commercial Real Estate Agent
Commercial real estate agents have/their eyes on commercial property. The operations and activities of a commercial real estate agent happen daily. In a commercial real estate agent’s life on the ground in-depth research is necessary.
This kind of agent helps the customers decide which property is better for their product and service. To fully understand the dynamics and meet the evolving demands of commercial real estate, agents often take advantage of educational programs at institutions like NYREI. These courses provide comprehensive coverage of commercial leasing, sales, investment-building purchases, and future market trends.
A residential appraiser is a person who researches the properties (residential) and tells the customers the exact worth of the property. This task is quite an essential one when people want to sell or mortgage their house.
You would be glad to know that appraisers not only work privately but with the government as well. A public residential appraiser’s role is to determine the correct appraisers of residential properties for tax purposes.
Real Estate Investor
It is no secret that the real estate sector produces some of the largest wealth for businessmen. However, it’s not as simple as buying low and selling high, though of course, that will always be a part of the game.
A good real estate investor needs appraisal skills, as well as an ability to recognize and manage property appreciation.
There are two kinds of real estate investors; active and passive.
The active ones are also called flippers. These house flippers buy a property and then sell it and buy something else. On the other hand, passive investors, invest in a property and then don’t flip it or sell it for another. also a passive investor is not involved in daily activities either.
A property manager’s job is the most responsible and critical job in the real estate sector. His/her responsibility is to ensure that all the maintenance of the property runs smoothly. The goal of the property manager is to make the property profitable for the people who own it.
When it comes to residential property, the property manager is often named as a leasing agent or a repairman.
Now that you are fully aware and educated about the career opportunities in the fast-growing real estate sector, you can make the perfect and suitable decision for yourself with much confidence.