Since the Covid-19 pandemic, studies have shown a shift in the investment pattern of individuals. People started spending more on real estate when the world hit an economic recession. Real estate holds its traditional and trusted place within the domain of investments.📈🏆
With the industry taking off despite the inflationary times, looking for employment or opportunities to learn and grow in the real estate market is guaranteed to help you to a stable income stream every month!😁💵
So do you want to know what REITs are? How many jobs are available in real estate investment trusts?
Keep reading, and we’ll take you through the types of REITs and the kinds of jobs they offer.🧑💼👨💼
What are real estate investment trusts💲🤔
Real Estate Investment Trusts (REITs) own, operate and provide finance for the real estate sectors. The REIT companies create and manage a portfolio comprising real estate properties from the residential and commercial sectors.🏘️🏠
All the facilities owned by these trusts provide them with stable income. Moreover, they also enable small investors to be part of the profits without having to purchase directly investing in the property.💸🏘️
This route allows small investors to access real estate otherwise approachable by industries and commercial businesses. 👍🕴🏻
Before we get to how many jobs are available in real estate investment trust, let’s look at the classification of REITs. According to the property type and service, it can be categorized as:🏘️📊
- Industrial🏭
- Health care🏥
- Resort/ Lodging⛵
- Retail🏢
- Mortgage
- Residential🏠
- Infrastructure
- Specialty
- Combination👍➕
Here are the major broad categories:✅
1. Residential REITs 🏠🏠
The first kind, the residential real estate investment trusts, are responsible for acquiring residential properties and leasing them to tenants. These REITs usually obtain large residential properties. As the tenants pay up, it contributes to income for them.💲💸
These trusts operate residential buildings only of different types. 🏢🏙️
Examples of residential real estate investment trusts include student housing, multifamily properties, etc.🏠🌆
2. Commercial REITs 🏘️🏢
These trusts acquire commercial real estate to rent to offices and retail businesses. They may hold the whole building or rent portions to different companies. 🏢🏢🧑💼
3. Office REITs 🏢👨💼
Office buildings generate income from the businesses that operate on them via lease. The lease may be short-term or long-term, depending on the lease terms.📃🖋️
4. Retail REITs🏬🛒
Usually, all shopping malls come under retail real estate investment trusts. These funds invest the income generated via the monthly rent from their tenants.💵💲
5. Industrial REITs🏭
The industrial property sector is the most popular and lucrative real estate sector. Since the yield is high, it catches the interest of most realtors.
These typically include warehouses, factories, distribution facilities, manufacturing projects, etc.👨🏭🏭
6. Resort/Hospitality REITs⛵🧳
All property relevant to traveling comes under the resort and hospitality real estate investment trusts.🛋️🛌
7. Medical REITs🧑⚕️🏥
These investment trusts include hospitals, caring homes for the elderly and senile, nursing homes, etc.👨⚕️🏥
Jobs as investment advisors 🧐💵
Regarding our question, how many jobs are available in real estate investment trusts?
According to statistics, the industru currently has 274,000 employees. Real estate trusts have contributed to 3.2 million jobs for US residents in 2021 alone. 😲📈
As for the job opportunities, you are likely to get the best seats if you are skilled and hold academic credentials in economics or finance. 📈🤑
Real estate agents and property appraisers are the jobs you can aim for among the Blue-collar jobs. 🆗👌
Even if you dont have the academic credentials for real estate or have graduated from highly accredited institutes, fear not. The real estate industry has several jobs for different types of people with differing backgrounds. 👩💼👨💼
However, the trend mostly revolves around economics and finance.💵📈
The prereqs could be:
- Experience with investment💲💲
- Managerial skills🧑💼👩💼
- Other soft skills🗣️👩💻
There are many blue-collar jobs in REITs too. Since these trusts invest in property, they need people to maintain and look after the estate. 🧑💼🏢
How many jobs are available in REITs
Wondering how many jobs are available in real estate investment trusts? Let’s find out!
1. Real estate agent👨💼
Being a real estate agent is the simplest job to apply for. All you have to do is take the test and license and start your work!👨💼📃
However, the fieldwork is challenging and requires a whole set of skills. You need to be a good salesperson hence communicative, able to pick on cues, personable and friendly to make the job work.🤝
If you have all the good qualities required for a salesperson, REITs thrive on finding and holding on to good real estate agents. So there are high chances you’ll secure a safe job in the field.👨💼🧑💼
2. Real estate investment analyst👩💻🧐
This is the entry-level position in real estate investment trusts jobs. You will be required to analyze the viability of the property, the effect of significant changes in the market, and other variables to assess the real estate.📈💹
If you have studied or have experience with asset management, accounting, and finance, that can be a major plus in your resume for this position.📃
3. Capital market analyst🧐🧑💼
The job of the capital market analyst is to look into a real estate investment trust’s finances and assets. They analyze and model the numbers, such as interest rates, to leverage the institute against risks and losses. 📉
The ultimate idea is to maximize the REIT’s returns on the investment.📈💰
4. Human resource manager🧑🤝🧑👭
Since the REITs work on a complete company setup, they also require their fair share of HR personnel. The HR rep is responsible for people management in the trust. 📘👥
5. IT specialist👩💻
Just like all companies today, REITs need their own IT specialists too.
Technology is an intrinsic part of any organization, and hence for all-around maintenance and data management, there are positions for IT and computer experts here, too.📈📉
6. Property manager🧑💼👔
REITs often hold big properties where many tenants reside in one area. These contribute the main income for the REITs and hence require proper property maintenance.👷🏢
Maintenance is also required to keep the building in prime condition for the new tenants and keep it in line with the market worth.📈💲
People with experience in domains like plumbing and maintenance of heating and cooling mechanisms, have good chances of finding jobs as property managers.🥵👨🔧
7. Leasing consultant📃🧑💼
The leasing consultant sometimes works independently to lease property to the tenants. However, since REITs thrive on the tenant’s rent, they always require the services of leasing consultants.
As a leasing consultant, you also grab the highest income amongst all other jobs in REITs.👩💼👍
8. Acquisition positions💁♀️
There are also some positions dedicated to finding new markets and investment options for REITs.
These are high-level jobs, and you need to have academic credentials in business, finance, capital markets, or marketing.📑📒
9. Asset management positions🏗️
The asset managers look after the financial and operational performance of the assets of the REIT. These are the top-paid jobs and require experience in real estate, qualifications in asset management, and skills of a sales rep.💲🤑
Apart from overseeing the portfolio’s performance, asset managers must collaborate with various departments like finance, accounts, acquisitions, and development.🧾🧾
10. Property development🏗️🏢
The job of a property developer is to manage all contractors and subcontractors to inspect and plan the property construction.
The prereqs include a degree in architecture, business, or civil engineering and skills like:✅
- Adept knowledge of the real estate market👍🧐
- Organizational skills🤔
- Knowledge of finance and accounts🤓
11. Property management🏢🌇
Property managers are the ones that connect with the customers and use their skills and knowledge to sell/lease property to clients.🤝
As a property manager, you need specialized people skills such as:🤔✅
- Problem-solving 🤓
- Marketing🧑💼
- Management📘
- Customer assistance🗣️
12. Investor relations🧾👫
Investor relations people work on the extreme other ends of the REITs. They collaborate with the shareholders to plan, organize and set up business meetings and annual reports.🤝📃
This is a middle-tier employment position in the REIT and requires an individual’s degree in finance or accounts.👩🎓📙
13. Leasing consultant🧐
Leasing consultants work with the clients and help them find the property per their requirements. This, too, is an entry-level position, so if you are thinking of starting a real estate career, this position will be worth it.💎👍
However, you will be required to have a basic knowledge of the market, sound interpersonal skills, and salesmanship.🤝🧐
14. Real estate property appraiser📈👩💼
The appraiser values the price or market worth of the commercial or residential property. 🏘️🏠
This value comes about by analyzing different market factors and hence knowledge of finance, economics, and other subjects.📘📙
However, to qualify, you must complete a field training course and acquire a license.💳📃👩💼
15. Real estate investor🧑💼
The investor buys the property, creates value for it, and resells it after increasing its overall value. It is one of the highest-paid positions in the real estate market.💲🤑
You need the requisite knowledge and experience in buying and selling for property acquisition.🤝💲
16. Real estate attorneys🧑💼👩💼
Lawyers play the middle role between the clients and the REITs.👫
They mediate property deals, help draft contracts, look into the legalities of the contract, and also help settle real estate disputes between the parties.🤼♂️📃
Summary🧐🤔
How many jobs are available in real estate investment trusts? The answer: plenty!📈✅
The industry is growing. Thus, the need to fill in positions of investors, supportive positions of HR experts, etc., is increasing daily.👩💼🧑💼
Some jobs may require expertise, qualification, or experience in the field. But there are many entry-level positions you can look up and apply for if you are just starting off building a career with REITs.📈✅
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