Diversity And Opportunity In Real Estate Jobs

Real estate jobs offer an interesting path to success for just about anyone. They are exciting, demanding and quite often very profitable. Take you pick of specialties, sharpen your professional skills and enjoy working your way to the top.

General Requirements

real estate jobsTo enter into the world of real estate, you’re required to be a high school graduate, at least 18 and pass a written exam covering basic laws and transactions. There are also hours of formal training to complete, the number of which varies by state, but averages around 60. To excel in this field however, people skills and a knack for numbers are necessary. Although everyone learns through hands-on experience, any job in real estate is heavily dependent on reputation, thus being thoroughly prepared coming out of the starting gate is highly recommended.

Personality Type

Since real estate covers a vast number of positions and responsibilities, the people who choose to enter this field are also very diverse. Most though are not shy and enjoy mixing it up with people from any economic background. A career in real estate can take you from a shabby neighborhood to a highrise corner office in a heartbeat, so be ready for anything. The upper echelons of the industry means a sort of celebrity status, with high expectations for excellence and achievement.

Residential Real Estate

The typical agent in residential real estate independently contracts with a broker and receives about six percent in return for their successful sales. Selling residential homes can difficult during economic downturns, however sales often rebound in cycles and profits can average out over time. Some agents have other part-time careers to compensate for slumps, and some branch out within the field to keep a steady cash flow. Diversity is key to surviving any challenge, and the real estate business is no exception.

The Commercial Sector

Buying and selling commercially puts you in the midst of hotel and mall owners, industrial and apartment complexes and more. This is a great area to get into if capitalist blood runs quick through your veins, as long as you’ve got a good eye for a deal. For example, a failing restaurant could be facing foreclosure, while the same area is becoming desirable for other enterprises. Snag the undervalued eatery and prep the property for the incoming business sector and you’re looking at significant return on your investment. This formula can apply to nearly any type of structure, so long as it can be made into a suitable habitat for the next owner or tenant. The more convenient the location, the sweeter the deal.

Property Management

Choosing to manage property for others is usually a very demanding career move. It entails overseeing different places, including residential or commercial, in every aspect of operations. Leasing negotiations, rental agreements and enforcement and upkeep are just a few examples of what keeps a property manager busy. While it can be a stressful occupation, it’s great training grounds for anyone interested in climbing the real estate ladder and eventually moving on to buying and selling their own property.

Appraisal

Banks and agents alike need to know the exact value of their properties and how different market variables impact worth. An appraiser is hired to inspect and evaluate, then provide a figure based on specific calculations. This sect is less dependent on a bull market, because property requires valuation even if they’re headed to foreclosure.

Investment Adviser

Advising others on where to put their money in real estate is exciting and can be very lucrative. Following an in-depth investigation of a piece of property, its neighborhood and other factors that impact appreciation, an adviser recommends the purchase to investors. Thereafter, the property is monitored for future sale and profit. Statistical analysis is an essential part of predicting the value of real estate, as is a thorough knowledge of other influential metrics.

Real estate jobs can put you on the fast track to success, no matter which avenue you choose to take. It’s an exciting field that provides opportunity for advancement and constant change. Consider your options carefully, and find out where you belong on your way to the top.

The Best Niche Opportunities For Real Estate Marketing

marketingMany agents are experienced in a wide range of real estate marketing niches. However, it can sometimes be a great boost to business if you narrow your focus to one or two specialist areas, and build your reputation as an authority in that market. Here are some of the most lucrative niches for real estate.

The Singles Market

There is a growing trend for singles buying homes. At present, nearly 60 million properties in America have a single owner and that number is growing year on year. Since the needs of a single buyer are very different to those of a married or cohabiting couple, this is one market niche which could prove especially profitable.

First Time Buyers

If you particularly love the feeling of matching someone with their dream home, first time buyers might be your perfect niche, since buying your very first home can be an elating experience. Dealing with a first time buyer can be very different to dealing for more experienced buyers, however, as they will have far more anxieties about the process. But if you can help them through the pitfalls of property buying and assuage their worries, this niche buyer is likely to reward you with repeat business and referrals.

Baby Boomers

Qualifying to become a Seniors Real Estate Specialist (SRES) can pay dividends. The senior population have many unique considerations when it comes to property buying, including how much income they have to spend on their new home. Becoming a SRES will give you the necessary training to meet the needs of this unique niche.

Luxury Homes

Luxury homes is a particularly appealing niche in real estate because, as a commission based industry, there is a potential to earn more. However, you need to remember that wealthy clients have higher expectations from their real estate agents, since they are going to receive a sizable chunk of commission from the sale of the property. This means that the net profit can be similar to selling lower priced properties, as you will need to invest a lot more in the sale.

Vacation Homes

If you are residing in an area which has a lot of appeal to vacationers then you might want to go into the profitable market of vacation homes. The key to becoming successful in this niche is to hone your marketing strategy and get your name out there as the premier vacation home agent in your area. The internet is the best place to target your marketing efforts, as the majority of your clients will be coming from outside the area.

For Sale By Owner Properties (FSBOs)

FSBOs is a niche which is often overlooked in real estate marketing. However, assisting people to market their own homes can be a surprisingly successful strategy. In a large number of FSBO cases, the owner soon realizes that selling a home is more work than they imagined and they will list their property with a professional instead. If you have already made a great impression on them, they will almost certainly give you the business.

Finding a niche can be a great way to distinguish yourself in the industry.

How High Is A Realtor Salary?

In this day and age, it makes sense to find a career field that is rewarding and lucrative. People who want to make the most out of their time spent away from home should be sure that they are enjoying their jobs and maximizing on their potential. When it comes down to it, one of the make or break factors for any industry is how much money is earned. This can fluctuate based on a lot of factors, including location, experience and more, but it pays to make sure that the job is suitable for the lifestyle a person wants.

salaryUnderstanding the job is half the battle, because there are a lot of similar real estate jobs within the field. First and foremost, there is a large difference between agents and brokers. Brokers are people who can manage businesses, while agents typically work under brokers. Both work hard to match people with the type of real estate that they need in order to complete their purchase, but people looking at these jobs from a career opportunity standpoint will want to learn the ins and outs. It pays to make this distinction clear before learning about salary or trying to receive the necessary accreditations.

Money Matters: The Realtor Salary

Recent data suggests that people who enter the industry as real estate agents earn, on average, a salary of approximately $40,000. On the higher end of the spectrum, well paid real estate agents earn approximately $100,000 per year, while the lower end of the spectrum sees real estate agents earning a little more than $20,000. In terms of best areas for working in the field, studies have also shown that the realtors who make the highest salaries work in areas like Santa Fe, New Mexico, Wayne, New Jersey, White Plains, New York and Lake County, Illinois.

How to Become a Realtor

The first thing a person should do is become familiar with the ins and outs of the job. Before moving a step further, they should understand what a day on the job entails, what skills are necessary and what lengths someone must go to in order to make a sale. This will give a clear picture of what can be expected, in order to provide some insight. From there, people interested in becoming realtors will need to make sure that they get the license needed to practice. This involves a written exam, the content of which varies state by state. Anybody who wants to sell real estate should be at least 18 years old. Though not necessary, having a college or graduate level degree helps, especially if it is in any kind of business, finance, or accounting related field.

This can be a rewarding career field for anyone who wants to enter and attempt to achieve the higher end of the realtor salary spectrum. With these steps laid out, it is possible for anybody with knowledge, drive and determination to do what it takes to enter the field and put themselves in a position to succeed.