How Many Jobs Are Available in Real Estate Investment Trusts?
October 13, 2022
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Have you ever thought about how many jobs are available in real estate investment trusts? There may be more than you think because REITs have many jobs to make them successful.
REITs include income-producing real estate that relies heavily on experts who understand the real estate market and can find assets that generate income.
Real Estate Investment Trust (REIT) Defined
A real estate investment trust is a real estate company that owns, operates, and sometimes finances commercial real estate. The money the commercial real estate companies pay real estate investment trusts is the money paid as dividends to real estate investors.
REITs pay investors dividends from rental income, mortgage interest, and capital appreciation.
How Many Jobs Are Available in Real Estate Investment Trusts?
In 2021, there were 3.2 million full-time jobs in real estate investment trust jobs. There are jobs starting from the inception of the real estate investment through to its conception or selling properties.
Types of Real Estate Investment Funds
Before we get into how many jobs are available in real estate investment trusts, let's look at the different categories of real estate investment funds so you can see the vast number of industries REITs employ.
- Retail REIT - Retail real estate investment trusts own stores, shopping centers, and shopping malls.
- Residential REIT - For consumers, residential real estate investment trusts own apartment buildings, condos, and other rental properties.
- HealthCare REIT - Healthcare real estate investment trusts typically own hospitals, medical offices, senior care facilities, and assisted living facilities.
- Commercial REIT - Commercial real estate investment trusts invest in hotels, office buildings, and other commercial properties.
- Mortgage REIT - Mortgage real estate investment trusts provide the financing for real estate investments. Rather than getting funding from a bank, the funds come from individual investors.
Careers in Real Estate Investment Trusts
There are many careers in real estate investment trusts in addition to the typical real estate agent and property manager role. Here are some of the top REIT jobs.
1. Sales Supervisor Roles
A real estate sales supervisor oversees real estate agents who sell or lease properties in the REIT. The supervisor helps agents with resources and necessary support to be successful in their role, including providing sales training, listing support, and marketing tactics.
Real estate sales supervisors need a bachelor's degree and/or experience in the real estate industry. In addition, like real estate agents, all sales supervisors must be licensed, and you'll need strong leadership skills.
2. Leasing and Housing Consultant Roles
Leasing and housing consultants work with current and potential tenants to help them view properties, negotiate terms, and sign leases. A leasing consultant shows off the property, works closely with landlords and property management, and makes the final sale.
Leasing consultants don't need a college degree, but they need plenty of real estate experience. They also need strong communication and sales skills to close the deal and deal with any problems.
Lease consultants make an average of $46,608 per year, but they also have the opportunity to earn commissions and bonuses, given the sales structure of the position.
3. Asset Manager Roles
Asset managers have a big job in the REIT industry. They are responsible for the portfolio's operational and financial health. In addition, the asset manager chooses and manages the assets, ensuring they align with the intended goal of the investment.
Asset managers need great communication skills and to be able to multitask. They work with all departments, including accounting, finance, acquisitions, and development. Asset managers are also responsible for ensuring all regulations are followed.
Most real estate asset management personnel need a bachelor's degree in real estate or business. Having accounting, real estate, or property management experience is also best. The average salary of a real estate asset manager is $78,849 to $95,995.
4. Acquisitions Roles
The acquisition roles within the REIT industry are also important. Employees in this role find more investment opportunities for the REIT. Not only do they source the investments, but they follow through to ensure the transaction completes. They find the deals, analyze them, and negotiate the final purchase price.
Anyone in this role needs extensive financial sector knowledge, including a bachelor's degree in finance. In addition, acquisition specialists must be able to handle high-pressure situations and understand complex real estate transactions.
Acquisition roles are among the higher-paying jobs in real estate investment trusts, paying an average of $97,500 to $138,300 annually.
5. Property Developer Roles
A property developer is responsible for developing the building or piece of real estate into a profitable investment. Property developers are project managers, overseeing the entire job to ensure it aligns with the real estate investment trusts' goals.
Developers work closely with contractors, subcontractors, accountants, financial planners, and asset management.
This role works best for anyone with a degree in civil engineering, architecture, or urban planning. Extensive real estate experience is also recommended, as are great communication skills since you'll work with many people within the real estate project.
The average property developer makes $87,861 per year.
6. Property Manager Roles
Property management takes over when the property is ready for tenants. Property managers handle all aspects of maintaining the property and tenants throughout the real estate investment trusts' lifetime.
Property managers are jacks of all trades as they oversee and maintain the property, screen and choose tenants, collect rent, problem-solve, market, and re-lease the property. Therefore, property managers need a solid understanding of real estate, finance, and communication.
This job may require a bachelor's degree in real estate, business, or a related field and pays an average salary of $61,841 to $78,109 annually.
7. Attorney Roles
Real estate attorneys are a crucial component of real estate investment trusts. They handle the typical real estate transaction details when buying or selling real estate properties, but they also handle any legal issues within the real estate investment trust itself.
Real estate attorneys ensure all legal aspects of real estate investment trusts are handled properly and help mitigate disputes. Because commercial properties have many more financial and legal aspects, real estate attorneys are an integral piece of the puzzle.
Real estate attorneys must pass the Bar Exam and have an accredited law degree. Real estate attorneys make an average salary of $123,248 to $156,577 annually.
8. Property Appraiser Roles
A qualified real estate property appraiser is important for every real estate transaction with real estate investment trusts. Appraisers determine the fair market value of residential or commercial properties, which is required for any financing, and determine the strength of a real estate investment before adding to real estate investment trusts.
Real estate appraisers don't need a college degree but should have extensive experience in the real estate market and a strong background in finance and economics. Each state has different licensure requirements for appraisers, but all states require proper education, licensing, and on-the-job training.
Real estate appraisers make an average salary of $48,482 to $68,020 annually.
9. Real Estate Investment Trust Analyst Roles
Real estate investment trust analysts play an important role in real estate investment trusts. They work with the real estate and financial departments to collaborate on the REITs' goals to determine which real estate assets to buy, sell, or hold.
The analyst's job is to analyze all financial aspects of the REIT industry and requires extensive financial industry knowledge. Accordingly, analysts require at least a bachelor's degree in finance, and they must possess extensive real estate experience.
Analysts are good at research and very analytical. In exchange for these skills, analysts earn an average of $76,519 to $108,515 annually.
How Common Are Real Estate Investment Trusts?
Real estate investment trusts are becoming more popular as more investors learn the importance of diversifying their portfolios with real estate. Before real estate investment trusts, regular investors couldn't afford or qualify to invest in real estate. Today, REITs open up the possibilities, making real estate investing possible for more investors.
How Many Roles Are Being Created in the Real Estate Investment Trust Field?
There are over 200 REITs, making the REIT industry a growing industry with many employment opportunities. In addition, there are many roles within each REIT; whether you want to be a real estate property manager, property appraiser, analyst, or asset management, there is a role for you.
Why Do People Want to Work in REIT Roles?
The REIT industry is up and coming, giving real estate professionals managing real estate properties a chance to grow their careers further. The possibilities for promotion and growth are exponential, rather than leaving you stuck in the same real estate position.
Do REIT Roles Have Stability and Growth?
REIT roles have stability and growth because the popularity of real estate investment trusts continues. The real estate industry has always provided stable jobs, but now the REIT industry brings even more potential for growth.
How Do I Get Started in REIT?
To start working in a REIT, you'll need proper education and/or experience. Many roles in real estate investment trusts require a bachelor's degree and experience in the real estate industry.
Many Jobs Are Available in Real Estate Investment Trusts
If you wonder how many jobs are available in real estate investment trusts, know that there are plenty of opportunities for people of varied interests. Determine what you want to do with your real estate career and find your path to growth and financial freedom in real estate investment trusts. Learn more by signing up and visiting our blog.
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