Are you considering getting a job in the real estate investment trust (REIT) field? Then, you are probably wondering: how many jobs are available in real estate investment trusts?
A real estate investment trust (REIT) is a corporation that owns, operates, or finances income-producing real estate. REITs were created in the US in 1960 as a tax-advantaged way to invest in real estate. Today, REITs are traded on major stock exchanges around the world.
The real estate industry continues to experience a boom, with the market size expected to reach $3.81 trillion this year. With such growth, job prospects in real estate, including REITs, will likewise increase.
This article will discuss the number and kinds of jobs available in the REIT field, which can help you sort out your options and decide which REIT job suits you best.
How Many Jobs Are Available In REITs?
REIT businesses employ 308,000 people full-time. Additionally, real estate investment trusts directly employ nearly 2.9 million full-time workers.
It is anticipated that employment opportunities in REITs will increase by around 10% annually. To begin at a managerial level, 30% of all REIT employment demands a business degree.
In terms of compensation range, it varies from position to position. For example, it can be $46k-$69k per year for an administrative analyst to $89k-$101k per year for an accounting manager.
What Are the Available Jobs in REITs?
You’ll find the following jobs while searching for how many jobs are available in real estate investment trusts (REITs):
1. Asset Management
Asset management is a well-paying job in the REIT business. As a REIT’s asset manager, you’ll be responsible for the company’s operational and financial health. To become an asset manager, most people begin their careers in either acquisitions or property management.
Many asset management jobs are available for those with the relevant skills and certifications. Acquisitions, financing, development, and accounting are all involved in asset management.
As an asset manager, your duties will include overseeing the day-to-day operations of your assigned portfolio, developing and implementing strategic plans, preparing reports and presentations, and working with other REIT management team members to ensure that the company’s goals are met.
2. Investor Relations
The real investor relations department is the link between shareholders and the company. They are responsible for handling all communication channels and providing shareholders with information about the company.
They prepare for the annual meeting by providing shareholders with information about the company’s financials, performance, and future plans. As a result, the pay of an investor relations middle manager is relatively high.
You can be considered for this position if you have a bachelor’s degree and a solid foundation in accounting and finance. Investor relations managers play an essential role in ensuring that shareholders are informed about the company and its plans for the future.
Without them, shareholders would not know what is happening with the company they invested in.
3. REIT Analysts
A REIT analyst is responsible for providing analysis of the real estate market to inform their company’s investment decisions. This role combines elements of both the financial and real estate industries since one must monitor market trends to make sound decisions about which real estate properties to buy or sell.
Financial modeling is also a vital component of this job, as analysts must use a variety of financial instruments to value potential acquisitions and existing assets. As a result, a solid understanding of financial concepts is essential for this role.
The minimum educational requirements for this position are an undergraduate degree in business, management, or a related field and an understanding of micro and macro trends in the regional real estate market.
4. Property Development
A career in real estate development is an excellent way to tap into the rapidly growing field of property development. As a real estate developer, you will oversee the construction of new properties from the initial planning stages to completion.
It will involve working closely with contractors and subcontractors, ensuring that all work is carried out to the required standards. Also, you will need to understand the local real estate market well and make sound financial decisions.
If you are well-organized and can multitask, then a career in real estate development could be perfect for you, and your search for how many jobs are available in real estate investment trusts will be ended.
Acquiring a real estate investment trust or REIT necessitates the identification of new sources of capital. These positions guarantee that the company executes transactions on time.
Getting a REIT acquisition job is not easy, but the remuneration is excellent. Anyone with a history in banking, sales, management, or stock markets can apply for this position.
The role of the REIT acquisition professional is to locate potential sellers, negotiate purchase prices, and oversee the due diligence process.
As REIT acquisition is a very technical and specialized field, you need a comprehensive understanding of the REIT industry before applying for this type of position.
6. Real Estate Property Appraiser
Appraisers must have keen eyes for detail and comprehensive market knowledge to be successful in their profession. They survey the property, taking into account its unique features, and research current market trends to estimate its value.
Because real estate can be a volatile market, appraisers must continually refresh their understanding of local and national trends to ensure they are accurate in their appraisals.
Appraisers may specialize in commercial or residential properties or choose to appraise both types of properties.
No matter what property they appraise, they must always be up-to-date on the latest market information to estimate its value.
7. Property Management
Property managers exist to provide a service to property developers. Developers build and own the properties as a way to invest in real estate but need someone to manage them on an ongoing basis, which is where property managers come in.
A property manager’s job is to take care of the day-to-day operations of a property, from renting out units to dealing with maintenance issues. While developers focus on building new properties, property managers focus on ensuring existing properties run smoothly.
You must have excellent customer service skills in order to be a successful property manager. You’re the one who will be dealing with tenants daily, so you must be able to resolve different issues.
8. Leasing Consultant
As a leasing consultant, you are the face of the real estate sector. You help consumers choose properties and houses suitable for their needs and finances. You require interpersonal, advertising, and marketing abilities for this position.
Success in this career path requires an in-depth knowledge of the local real estate industry. If you have the necessary skills and are looking for a challenge, a career as a leasing consultant may be right for you.
9. Real Estate Investor
Real estate investing is an awesome way to make money, but it’s not without challenges. Property purchase and perfect timing are critical for an investor to make a fair profit. Consequently, comprehensive market research is required. Otherwise, you might end up losing money instead of making it.
First, you need to have a clear understanding of your financial goals. Are you looking to make passive income, or are you hoping to flip properties for a profit? Once you are clear on your goal, you can start investigating different investment strategies.
For instance, some investors prefer to buy properties that need renovation and then sell them at a higher price. Others focus on purchasing properties in areas with strong potential for future growth.
10. Real Estate Attorney
REITs rely heavily on lawyers because they are typically structured as trusts, meaning that a trustee manages the property on behalf of the trust’s beneficiaries (or the investors).
The trustee has a duty to act in the best interests of the beneficiaries, which includes ensuring that all legal requirements are met. The trustees are, thus, pressured to choose experienced and reputable lawyers to help manage the trust.
While the reliance on lawyers may be seen as a risk, it also provides some benefits. Clients and sellers are the first to benefit from REIT services. As a result, owners must sign contracts to possess property.
Why Choose a Career in REIT?
REITs allow you to pool your resources with other investors and purchase a portfolio of income-producing properties. It can give a continuous income stream and the potential for capital gains when the properties are sold.
Many investors benefit from it, including the potential for high income, diversification, and long-term capital appreciation.
REITs also offer significant tax advantages. When you invest in a REIT, you can receive preferential treatment on your taxes, which may save money for you.
What Types of REITs Are There?
There are about 225 REITs in the United States that are listed with the Securities and Market Commission (SEC) and traded on a major stock exchange in the United States; their combined market value exceeds $1 trillion.
The 2 main types of REITs are:
For an equity REIT, the primary source of revenue is from physical assets. The firm acquires, develops, and finances properties and then leases them to generate income.
Since they rely on physical assets for most of their revenue, Equity REITs are classic real estate companies. They are also full-stack owners and operators.
Equity REITs manage the property themselves instead of outsourcing management to a third party. They tend to appoint an outside company to manage the assets.
Mortgage REITs are a unique subset of real estate investments. Unlike equity REITs, which invest in physical property, mortgage REITs purchase mortgages or mortgage-backed securities.
These can be either residential or commercial, most of which are traded on major stock exchanges–just like exchange-traded funds (ETFs) or mutual funds that one may already possess.
Mortgage REITs typically have a higher dividend yield than equity REITs, and they can be a useful diversification tool for an investor’s portfolio.
Is a REIT Industry Job for You?
Before looking at the number of jobs available in REITs, it’s essential to know your eligibility.
How do you know if a job in the REIT industry is right for you? Here are a few things to consider:
- Education and Skills: A job in the REIT industry will require at least a bachelor’s degree in real estate or a related field. In addition, you’ll need strong analytical and research skills.
- Experience: It’s helpful to have experience working in the real estate industry before pursuing a job in the REIT industry. Internships, summer jobs, or even part-time work during your college years would get you a leg up.
- Certifications and Licenses: You would need a real estate broker or agent license to work in the REIT industry. In addition, certain states require REIT employees to be certified public accountants (CPAs).
- Useful Traits: Certain personality traits can be helpful for anyone pursuing a career in the REIT industry. These include being a multi-tasker, organized, and detail-oriented.
Frequently Asked Questions (FAQs) – How Many Jobs Are Available in Real Estate Investment Trusts?
How Many Jobs Are Available in Real Estate Investment Trusts?
In 2021, REITs in the United States, directly and indirectly, provided 3.2 million jobs. With the continuing growth of the real estate industry, more jobs need to be filled.
Thousands of REIT jobs are advertised on Linkedin and Indeed. Currently, about 1,500 and 3,000 REIT jobs are available, respectively.
What Is the Most Highly-Paid Real Estate Job?
A real estate attorney makes an average of $95,701 annually, which is one of the best-paid real estate jobs.
What Are the Best Real Estate Jobs?
Accounting managers, acquisitions, real estate brokers, and attorneys are the best real estate jobs.
What Is the Fastest Way to Make Money in Real Estate?
Short and long-term rental incomes and commercial real estate investment are the quickest way to make money in real estate.
Are There Well-Paying REIT Jobs?
Yes, accounting managers, real estate brokers, and attorneys are high-paying REIT jobs.
Is a Job in Real Estate Investment Trust a Good Career Path?
Having the skills and knowledge about the real estate industry can be a lucrative source of income and a good career path.
How Do Real Estate Investment Trusts Make Money?
REITs generate revenue from the properties they buy by renting, leasing, or selling.
Can You Get Rich Investing in REITs?
Yes. You can make money through investments in real estate or doing REIT jobs.
Conclusion – How Many Jobs Are Available in Real Estate Investment Trusts?
There will always be a demand for real estate and relevant jobs in the industry.
Since the REIT field continues to develop, various roles need to be filled in the coming years. Once you are already a part of the REIT industry, moving to a more highly-paid or suitable position would be a breeze.
We hope this article gave you a good idea of whether REIT is the right professional field for you.
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Founder of Spark Nomad, Radical FIRE, Journalist
Expertise: Personal finance and travel content
Education: Bachelor of Economics at Radboud University, Master in Finance at Radboud University, Minor in Economics at Chapman University.
Over 200 articles, essays, and short stories published across the web.
Experience: Marjolein Dilven is a journalist and founder of Spark Nomad, a travel platform, and Radical FIRE, a personal finance platform. Marjolein has a finance and economics background with a master’s in Finance. She has quit her job to travel the world, documenting her travels on Spark Nomad to help people plan their travels. Marjolein Dilven has written for publications like MSN, Associated Press, CNBC, Town News syndicate, and more.