Real estate is a field that’s seen a tremendous increase in popularity in the last few years. Not only is it lucrative, but there are also many career opportunities and room for growth. But before you can start making a living in this career, you need to have the right tools and skill set. In this article, we’ll be going over what you need to get a career in real estate. Before we can help you figure out what you need, it’s important for you to have an understanding of the different types of real estate careers you can attain. Many newcomers think that real estate is only made up of real estate brokers and agents. However, there’s far more diversity in the field than you’d think. Here are the careers you can get in real estate.
Real Estate Broker
A broker can be compared to an agent as they have similar tasks. What sets them apart, however, is their place of employment. Real estate brokers work for a brokerage, which is where people who want to be agents work under. As for the responsibilities, they’re also the same as an agent. These responsibilities can include:
- Writing contracts for clients
- Represent either a buyer or a seller
- Keep tabs on the market for suitable properties
- Mediating potential conflict between a client and an agent
The world of real estate can be compared to a ladder; the higher you climb, the more difficult the job is. Let’s talk about the education requirements. One of the reasons why this field is so lucrative is due to not requiring an extensive education in the United States of America. Typically, applicants only need to have a high school diploma or something similar, unless stated otherwise. But you need to provide adequate proof of at least 75 hours of real estate education. Unfortunately, acquiring an associate degree won’t cut it. It can help, but it won’t make you eligible for future licensing applications.
However, a bachelor’s degree or higher most certainly qualifies you as well as sufficient real estate training. The best degree to get for any position in this field is a BA in business administration and management. On average, this can cost you about $45,000 to $55,000, but why bother paying when there’s no need to? Instead, you can look to Going Merry scholarships for college students. Scholarships can help students obtain their education by covering most, if not all, of the expenses. Granted, this isn’t the case with every scholarship. There are a few that may only pay for about half the cost, which means you’ll need to budget for the rest. Make sure to take advantage of their personalized matching, so you can have an easier time finding exactly what you’re looking for.
Real Estate Developer
Real estate developers are individuals who buy unoccupied land and use it to build various properties, like high-rise apartment buildings and three-story houses. In this position, you’re in charge of all the planning, financing, and coordinating. You’ll also be working with a team, which usually includes contractors, architects, engineers and lawyers. Compared to most other careers, becoming a real estate developer requires you to have at least a BA in architecture or engineering.
Real Estate Investor
Becoming an investor is a career in its own right. Normally, you’d be on the fence about it due to how much risk is involved. But what if we told you that investing in real estate is one of the safest investments to date? You’ll rarely see a loss, and you don’t have to worry about volatility. Furthermore, you can invest in real estate in a variety of ways. This can include buying shares of an apartment complex to purchasing a property and renting it out.