Most REITs have a straightforward business model: The REIT leases space and collects rents on the properties, then distributes that income as dividends to shareholders. Mortgage REITs don’t own real estate but finance real estate, instead.
These REITs earn income from the interest on their investments. To qualify as a REIT, a company must comply with certain provisions in the Internal Revenue Code (IRC). These requirements include primarily owning income-generating real estate for the long term and distributing income to shareholders.3 Specifically, a company must meet the following requirements to qualify as a REIT:
If you want to learn how to start a career in real estate investment trusts, we have the right answers for you. We will not only show you how to find and start your real estate investing career path but also how to do it right.
Here are the various REIT jobs you can consider:
1. Real Estate Investor Jobs
Since we are looking for the best paying jobs in real estate trusts, being an investor takes the lead. This is among the most lucrative career opportunity in this field. A real estate investor invests capital in the property. You buy and sell properties, manipulate their valuation, collect rents, and lobby politicians and governmental land-use agencies to realize a profit. Y
ou may work alone as an individual investor, with a partner, or as part of a network of investors. If you have enough knowledge and experience, companies or other individuals may hire you to manage their property portfolio or advise them on property investment strategies. Your primary concern is the inflation of land value.
There are no educational qualifications for becoming a real estate investor; the only real requirement is sufficient capital with which to invest. To succeed, you must understand the real estate market and be able to determine when a property is a good investment based on market conditions and property prices in the area around your target property.
You may want to start by working with a partner or an investment group, as this gives you greater ability to effect artificial land value inflation by encouraging increased police services, investment from luxury businesses, and advertising to home buyers.
2. REIT Analyst Jobs
As a real estate investment analyst, you are responsible for preparing the underwriting of real estate properties in a portfolio based on projections, market research, and past financial statements to determine income, valuations, and loan amounts.
Your responsibilities include assisting with loan closing and acting as a liaison with the servicing department. Your duties can vary based upon your employer, but you typically prepare investment reports which include the analysis of the borrower, the property, location, photographs, maps, and other relevant information that meets company and investor requirements. You also provide office administration support and handle legal documentation regarding real estate properties.
Some of the pre-requisites of this job role include –
- Thorough knowledge of the real estate domain
- Know-how on current industrial trends
- Understanding investment opportunities, micro, and macro markets
- Analytical, communication, and problem-solving skills
- strong organizational skills, proficiency with computers and programs like Microsoft Office
- The ability to stay calm under pressure.
3. Real Estate Agent Jobs
This is one of the most readily available jobs in the real estate investing field. The job description for real estate agents is to help people either buy or sell real estate properties.
A real estate agent is a licensed professional who arranges real estate transactions, putting buyers and sellers together and acting as their representatives in negotiations. Real estate agents usually are compensated completely by a commission—a percentage of the property’s purchase price—so their income depends on their ability to close a deal.
In almost every state a real estate agent must work for or be affiliated with a real estate broker (an individual or a brokerage firm), who is more experienced and licensed to a higher degree.
Real estate agents help buyers get their homes and connect these buyers to sellers. It is one of the most profitable and high-paying jobs in the industry that lets you deal with commercial and residential properties.
If you handle residential properties, you can sell condos, luxury homes, and single-family residences to interested buyers. If you deal with commercial properties, you’ll have to sell office spaces, warehouses, luxury resorts, and shopping complexes.
Nonetheless, you will have to provide end-to-end support to the buyer during the purchase. This includes providing financial estimates, documentation, and rates of return.
Your salary will depend upon the commission you receive from deals you close.
4. Real Estate Attorney Jobs
Real estate attorneys are lawyers who specialize in real estate transactions including facilitating home sales, representing clients in property disputes and other litigation, and conducting investigations regarding a property’s liabilities and compliance.
This can be an excellent full-time or part-time job for attorneys. Real estate attorneys work to settle various disputes in property ownership and transfers. Whether it’s the issuance of titles, transfers, documentation, or any other legal issues about real estate properties, the attorneys act as mediators.
In addition, they offer legal guidance to both sellers and buyers of real estate properties. This ensures that both parties follow the necessary legal framework for the transactions, preventing various disputes.
The annual salary for a real estate attorney is around $119k annually, making it one of the best-paying jobs in real estate investment trusts.
Qualities of a real estate attorney are:
- Real estate attorneys help facilitate real estate transactions. They review contracts, negotiate agreements between buyers and sellers, give title opinions, attend closings, and more.
- Some states or localities require that buyers and/or sellers retain a real estate attorney for certain parts of the real estate transaction, such as the closing.
- Even if not required, hiring a real estate attorney may be a wise investment, especially for short sales, if you’re buying or selling from out-of-town, or in situations with tricky property concerns.
- The cost of a real estate attorney varies, but having someone advocate on your behalf can be worth the cost.
As for the requirements, you must have:
- A Bachelor’s degree in law
- Juris Doctorate
- Pass the Bar Exam
5. Real Estate Broker Jobs
A real estate broker works to negotiate and arrange real estate transactions. This licensed individual has daily duties that include writing contracts and overseeing transactions for sales and purchasing activities on homes, land, and commercial properties. A broker has attained a higher-level license than a real estate agent and can hire real estate agents to work as a team under their supervision.
A real estate broker works similarly to a real estate agent. They both help real estate property buyers to meet sellers, and vice versa. The main difference between the two lies in their bosses. In essence, most real estate agents work for brokerage firms. However, a broker can work independently without joining any brokerage. As a broker, you can easily start your brokerage firm.
These two REIT jobs are somewhat related or interconnected. For instance, while a real estate broker can work independently, they must first have prior experience as a real estate agent for around 1-3 years. The good thing with a broker is that you have that chance of becoming your boss. So, if you are tired of that 9-5 style of working, becoming a real estate broker is a great choice.
Being a real estate broker is thus one of the best paying jobs in real estate investment trusts, as you determine your income. And, your hard work, knowledge, and skills determine your paycheck. On average, real estate brokers in the US earn around $72.5K annually.
Some of a broker’s duties on behalf of sellers include:
- Listing homes for sale on the local, MLS, Multiple Listing Service
- Sharing the brokerage listings with other MLS broker members to get buyers to the property
- Sharing the listing commission with successful buyer brokers
- Advising the home seller in preparing their home for listing and showings
- Supervising showing, report to sellers results and feedback
- Submitting any offers to the seller for consideration
- Helping the seller negotiate offers to try and execute a purchase contract with a buyer
- Working on the seller’s behalf in coordinating the transaction process
- Delivering and explaining documents, disclosures, and transaction items
- Working with the seller through the closing and their move-out from the home
On the other side of the transaction, brokers work with people wanting to buy a property by providing advice and services to help them to find a property that fits their needs and completing the steps of the transaction, such as:
- Helping buyers locate all properties in their desired area in their price range and meeting their criteria
- Coordinating and helping buyers to visit and view properties
- When a decision is made to attempt a purchase, helping the buyer craft their initial offer and purchase agreement
- Working with the buyer on their behalf in negotiations with the seller through their agent/broker
- Once a purchase contract is executed, coordinating the transaction process on the buyer’s side
- Delivering and explaining documents in the transaction process
- Coordinating inspections, reports, and repair negotiations
- Assisting buyers through to closing and taking possession
6. Property Management Jobs
In REITs, people invest their money through these real estate firms and get paid in dividends. And, since REITs own and manage properties, property manager jobs are quite common here.
The real estate investment manager job description includes ensuring that both the physical and financial states of these properties are attractive. The investors must get their dues as promised.
In addition, you’ll not only cater to the investors’ needs but also the need of the property and the tenants. Satisfied tenants make your work easy and ensure that you hit the investors’ financial goals.
Requirements for a real estate property manager include:
- Managerial skills
- Customer service
- Problem-solving skills
- Marketing skills
- Background in finance
In real estate property management, the property manager or management company has four major areas of responsibility:
- Marketing and Financial
- Tenant and Occupancy
- Administration & Risk Management
The property manager is the owner’s partner in maximizing the return on investment of the property through the efficient performance of these four functional areas of responsibility. The property management company acts in the best interests of the owner to maintain the property, keep it occupied with tenants, collect rents, budget improvements, and maintain records.
Many real estate professionals have looked at property management and changed their minds when the scope of the management tasks and record-keeping are fully understood. It’s a niche for the more detailed and responsive in the profession.
7. Real Estate Property Appraiser
A real estate appraiser provides an objective and unbiased estimate or appraisal of the value of a property. Appraisals are prepared for lease negotiations, mortgage lending purposes, tax assessments, and more. Appraisers inspect the property’s features and compare them to similar properties to determine their value.
They consider the following when making their appraisal:
- Determine the exterior condition of a property
- Assess the interior condition with a room-by-room walk-through
- Evaluate amenities such as a finished basement or swimming pool
- Look for safety or health code violations
After the appraiser has gathered information about the house, they’ll compare it to similar homes in the area to make their estimate. Strong analytical, critical thinking and writing skills are a must for real estate appraisers.
Soft skills like listening and verbal communication are equally important. With these skill sets, you’ll be well-equipped to understand your client’s needs, complete your appraisal, and communicate your valuation. Appraisals are the key to ensuring the home buyer, mortgage lender, and seller receive an accurate estimate of the home’s worth.
The mortgage lender or financing organization typically hires the appraiser. It often takes an hour or two to complete an appraisal, and you should receive the report within a few days. This amount of time can vary depending on the property size, report type, and other factors like a lender or bank review.
8. Real Estate Developer
This is one of the best-paying jobs in real estate investment trusts. In contrast to a real estate investor, who buys and sells existing real estate assets, a developer acquires land and builds assets to sell.
Here you may find everything from single-family homes to large commercial complexes like warehouses and shopping malls. From planning to funding and coordination, real estate developers handle the entire building development process.
Individuals who work as real estate developers will work with several professionals to ensure a seamless process. This category includes engineers, architects, attorneys, contractors, leasing businesses, and other professions.
9. Leasing Consultants
Leasing Consultants are typically employed by property management companies or landlords to show and sell various apartments or buildings to individuals. They’re responsible for recording and managing any leases they collect from new and existing customers. Leasing Consultants typically market and promote various rental listings through showings and open houses.
When a client is interested in their listing, the Leasing Consultant brings them to viewings of the property. They then continue to follow up with the client to answer any questions they may have about the housing unit. Once the client is ready to lease the property, the Leasing Consultant works with the landlord or property management company to negotiate a fair and reasonable price.
A job description for a Leasing Consultant may contain the following duties and responsibilities:
- Responding to potential tenant interest for rental properties in-person and via digital platforms
- Showing properties, answering questions, and finalizing terms of leases
- Establishing tenant expectations for security deposits, procedures for rent, and amenities that will be part of the lease
- Preparing potential tenant background checks, including reference letters, rental history, income verification, and lease application
- Properly executing all terms of a lease and taking needed steps in the case of a defaulting tenant
10. Investor Relation
Investor Relations (IR) combines finance, communication, and marketing to effectively control the flow of information between a public company, its investors, and its stakeholders.
Investors play a major and vital role in the success and growth of a company. Because of that fact, it’s of the utmost importance for companies to maintain strong, transparent relationships with investors. This is where the investor relations department of a company comes into play.
The main goals of investor relations professionals are:
- To enable the company to achieve the optimum share price that reflects the fundamental value valuation InfographicOver the years, we’ve spent a lot of time thinking about and working on business valuation across a broad range of transactions. This valuation infographic of the company
- Representing the company to investors and representing investors to the company
- Providing financial information to investors (retail and institutional) in a timely and accurate way
- Providing non-financial data to support company valuations
- Observing the rules of securities commissions and stock exchanges
- Non-aggressive sales promotion or “closing”
- Presenting investor feedback to company management and the board
- Building receptive capital markets for future financing at favorable terms