Table of Contents Show
- What is Real Estate?
- Examples of Real Estate
- Is Real Estate a Good Career Path?
- What are the Benefits of Real Estate?
- What Degree Do You Need to Work in Real Estate
- Required Skills for a Career in Real Estate
- What are the Real Estate Job Prospects?
- How Much Can You Make From This Field?
- 7 Highly Paid Real Estate Career Paths For Graduates
- What is the fastest way to make money in real estate?
- Is real estate better than stocks?
- Can owning real estate make you rich?
- How do I get into real estate?
- Is real estate profitable?
The real estate industry lures people of all ages, leading most people wondering if is a good career path.
This industry keeps experiencing growth with the never ending need for real estate, such as buildings and structure.
Real estate houses tons of career opportunities for graduates in 2022
If you are keen on an answer to the question – is real estate a good career path, you are in luck. Join us as we furnish you with reasons why real estate is a good career path; as well as all you need to know in this industry.
See also: Is Homebuilding A Good Career Path?
What is Real Estate?
The term “real estate” refers to the land; as well as any long-term constructions or improvements attached to the property, such as a house, whether they are created naturally or artificially.
Real property comes in various forms. However, it is entirely different from private possessions, which includes things like farm machinery, boats, jewels, furniture, and cars that are not fixed to the ground.
Examples of Real Estate
For better understanding, lets look at the examples of real estate.
The following are examples of real estate:
- Utility systems
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Is Real Estate a Good Career Path?
Absolutely! Real estate is a good career path. There is one thing you should know about the real estate industry – there are more than enough jobs or career paths to go round.
In other words, the one tiny problem – what career to settle for.
A major reason why real estate is a good career path for graduates is the steady growth of the industry.
What are the Benefits of Real Estate?
There are amazing benefits to securing a job or pursuing a career in real estate. These benefits could be the reason why many people are considering this field.
You would agree that employee benefits can be a driving force to a large extent.
The following are the benefits you stand to gain in pursuing a career in real estate:
Professionals in real estate make a chunk of money. However, they don’t earn within the salary categories, such as hourly, weekly, and yearly
Although they basically earn from commissions after closing a deal, they are well compensated.
You determine your pay
The earning conditions in real estate is as clear as day – you determine how much you earn at the end of the day.
The more deals you close, the more commissions you accrue and vice versa.
Conclusively, the amount you would earn depends on your ability to close transactions, contribute to sales, and make a profit.
Terms of employment
The terms of employment in real estate is entirely different from the norm.
When you work as a contract employee, you get to manage your business according to your own set of rules and preferences.
Flexible work hours
If you are one of those scared to the teeth about 9 to 5 jobs, you have nothing to worry about.
Jobs in real estate come with flexible work hours. You can set up meetings tailored to fit your routine.
Simply put, you have more control of your time.
What Degree Do You Need to Work in Real Estate
Aspiring to pursue a future in real estate is great. However, there are particular degrees you need to get in order to pursue a profession in real estate investment.
You can consider some of the following degrees:
- Real estate
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Required Skills for a Career in Real Estate
There are skills you to acquire in order to make head way in the real estate industry.
Without these skills, well, there’s no way you will amke it to the top of your career in real estate.
The following are the required skills for a career in real estate:
- Excellent communication
- Technical skills
- Financial expertie
- Data analytical skills
What are the Real Estate Job Prospects?
The job prospects of the real estate industry looks good.
Statistics predict a 4% job growth between 2020 and 2030. This prediction, however, is slower than the global average.
In addition, figures estimate a about 47,500 opportunities for real estate brokers and sales agents.
In conclusion, you have a future in real estate.
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How Much Can You Make From This Field?
The average salary of a professional in the real estate varies. The salary distinction in this field is in according to the area of specialty.
In other words, the profession determines the salary. Hence, what is an achievable salary in one field may not be obtainable in another.
Simply put, there is no specific ic amount one can earn in this industry.
For instance, a real estate attorneys earns an average salary of $84,000. This salary is way different from the average salary of a real estate agent, who earns an average salary of $49,151.
7 Highly Paid Real Estate Career Paths For Graduates
Real estate is a lucrative industry. However, there are career paths that pay the most.
As a result of this, graduates in this field will find such jobs attractive. The following are some of the highest paying career paths in real estate:
1. Real Estate Attorney
A real estate attorney is also called a real estate lawyer. Real estate lawyers holds a real estate law license.
Therefore, they are qualified to offer advice to parties involved in real estate transactions, such as short sales or home sales.
This lawyer also prepares or reviews the paperwork required for the acquisition or sale of real estate and represents the buyer or seller at the closing.
Real estate attorneys earn an average salary of $98,016, according to zippia.com. The salary of this lawyer ranges from $67,000 to $143,000.
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2. Real Estate Appraiser
A real estate appraiser is an expert who determines the market value of real estate assets and property.
In other words, a real estate appraiser is an expert in determining property worth.
That said, a real estate property appraiser contributes significantly to the home-buying process by making a professional assessment of a property’s value.
Payscale.com puts the average salary of a real estate appraiser at $61,551. Also, the salary of this real estate executive falls between $39,000 and $110,000.
3. Real Estate Broker
A real estate broker is a real estate agent with a license. This agent uses his expertise to help people with real estate transactions.
He also assists clients in buying and selling real estate.
In summary, a real estate broker is a licensed real estate agent who aids in the purchase, sale, and transfer of real estate.
Real estate brokers make an average salary of $61,314, according to payscale.com. This salary also ranges from $25,000 to $114,000.
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4. Property Accountant
A property accountant handles the financial aspects of real estate transactions involving residential, commercial, and industrial properties.
They also handle the organization’s real estate-related accounting, bookkeeping, and asset management responsibilities.
In a nutshell, property accountants are in charge of managing activities related to property accounting for their organization.
According to salary.com, a property accountant earn an average salary of $59,547. The salary of this accountant also falls between $53,939 and $65,884.
5. Compliance Specialist
Compliance specialists are responsible for making sure that organizations and their activities adhere to all necessary laws, rules, and regulations.
They also collaborate with regulatory bodies, keep track of and report on compliance-related activities, and offer compliance guidance to management.
In addition, they deal with compliance issues and keep up with changes to the law.
Furthermore, they create compliance policies, practices, and reporting systems training materials and deliver it to employees.
Compliance specialists earn an average salary of $59,716, according to salary.com. Also, the salay of a compliance salary falls between $53,326 and $67,818.
6. Mortgage Loan Officer
A mortgage loan officer is an authorized representative of a mortgage broker, credit union, mortgage bank, or institutional bank who provides assistance to clients in applying for a home loan or negotiates the terms of a home loan in return for a fee.
In other words, a mortgage loan officer is a representative of financial institution who assists borrowers in the application process
Mortgage loan officers also determine if a customer is eligible for a mortgage loan by acquiring their financial data or information.
According to payscale.com, the average salary of a mortgage loan officer in the United States is $50,647. Also, mortgage loan officers also earn between $30,000 and $78,000.
7. Real Estate Agent
This is a real estate agent with a license that represents both buyers and sellers.
In other words, they facilitate transactions by bringing the buyer and seller together and serving as equal representatives for both.
In addition, real estate agents mostly earn from commissions on the sales they close.
Real estate agents in the United States earn an average salary of $49,229, according to payscale.com. In addition, the salary of these agents also range from $20,000 to $101,000
What is the fastest way to make money in real estate?
The following are the fastest ways to make money in real estate:
- Long-term rentals
- Contract flipping
- Airbnb and vacation rentals
- Purchasing land
- Commercial property rentals
- Lease to buy
Is real estate better than stocks?
Investments made in the stock market perform better over time than those made in real estate.
Simply said, historically, profits on real estate investments have been limited to three to four percent annually. On the other hand, historically, investments made in the stock market have produced returns of about 10% every year.
Can owning real estate make you rich?
Buying real estate has long been considered one of the finest ways to make money.
Despite recent cycles of real estate booms and busts, many people have acquired substantial wealth over time by holding real estate all around the nation.
How do I get into real estate?
Depending on where you reside, you can become a real estate agent in four to six months. Prelicensing courses taken online can hasten the procedure.
The general procedures are to complete a real estate prelicensing course, pass the licensing exam, activate your license, and sign up with a brokerage, however, requirements differ by state.
Is real estate profitable?
The most typical way real estate generates income is through appreciation or value growth.
For various sorts of property, this is accomplished in various ways, but it can only be realized one way: by selling. However, there are a number of strategies to boost your return on property investment.
With the question (is real estate a good career path) out of the way, you can proceed to find that one job in this industry that suits you.
There are also great benefits in pursuing a career in real estate. So what are you waiting for?
It’s time to pursue that career path wiitout any further delay.
We hope this article met your expectations. For feedback, reach us through the comment section for feedback.
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