There are multiple well-paying jobs in Real Estate Investment Trusts. But, for the purpose of this article, you will learn about some of the best paying jobs in Real Estate Investment Trusts or REITs. If you want to apply, you will learn about all of them on major recruitment platforms like Indeed, LinkedIn, and many more.
Since the real estate industry is broad, careers in REITs are also wide-ranging. Hence, to start working for a REIT company, you will need to understand the various skills. Also, you must possess the knowledge required to get a start in the industry. Hence, to learn more about a successful career in real estate investment trusts, continue reading.
What Are REITs And How Do They Work?
According to MoneyMint.com,
“REITs were first founded by The United States of America (USA) in 1960 to create an asset that would provide an everyday investor with the opportunity to invest in large scale, diversified portfolio of income-producing real estate in the same way they invest in other asset classes-tradable and liquid securities.”
These are bodies that real estate companies create to invest in real estate. These organizations also own real estate and equity brands. These real estate companies act as sponsors, who own the majority of shareholders or promoters of the company or trust that is newly formed.
The real estate company that is the sponsor of the trust appoints a trustee. This trustee is now responsible for holding the trust’s real estate assets. However, the trustee does not have any direct control over the asset of those real estate assets.
Furthermore, after the trustee is given the power, he appoints a manager. This manager is responsible for looking after the assets and managing them. They also make investment decisions from time to time for the real estate investment trust.
What Do Real Estate Investment Trusts Do?
Basically, REITs act like companies that are under real estate corporations, and these companies are responsible for owning, looking after, and managing real estate properties and assets. These assets include hotels, shopping centers, warehouses, office buildings, and commercial forests.
In the United States, REITs own assets worth around $3.5 trillion. These companies get their income from real estate properties, and they also pay the investors who own equities in the trust. However, there are some more instances as well when REITs finance real estate.
Investing in a real estate investment trust is like investing in stocks. Although these companies act similarly, investors still have a chance to vest valuable assets, and in most cases, those investors receive a stable shared income. This is one of the major reasons why many people invest in real estate investment trusts. Investing in these companies can be a good option for expanding passive income streams. Investing here provides the option to get access to those commodities and increases the possibilities of high yields.
Real Estate Investment Trusts – How Many Jobs Are There?
A real estate investment trust organization can be a corporation, association, or trust that is responsible for owning real estate and/or equity. They are responsible for operating assets that produce income for the owners of the assets. However, to talk about jobs, you must know that there are many jobs available in this industry.
According to IBISWorld.com,
“There are 188,769 people employed in the Real Estate Investment Trusts industry in the US as of 2023… The number of people employed in the Real Estate Investment Trusts industry in the US increased 3.2% on average over the five years between 2018 and 2023.”
As per last year’s data, there are more than a million jobs available in the real estate investment trust industry. If you want to start your career as an investment manager, you will have a lot of opportunities for growth.
The United States is the biggest market for real estate investment trusts. Furthermore, as per the National Association of Real Estate Investment Trusts (NAREIT), the total number of real estate investment trusts in the country is projected to own more than $3.5 trillion in assets in terms of the gross amount. Furthermore, the equity market capitalization of the real estate investment trusts is more than $1.6 trillion.
Is Real Estate Investment Trusts A Good Career Path?
A career in the real estate investment trust is the best thing you can have in the current environment. However, entering the REIT sector can be a bit challenging at first. You will need to have the correct amount of knowledge, the right information, and enough skills and qualifications so that you get the chance to make it big. The industry boasts some of the brightest minds in the country and abroad.
On the other hand, the management procedure in a real estate investment trust can be demanding and challenging, but they are sure to give you enough returns. In addition to that, due to various volatile situations in the market from time to time, it gets a bit risky for various analysts to figure out what will happen next in regard to assets.
Furthermore, to get into a REIT career, you will probably need to start at the bottom of the ladder and move your way up. However, if you are a smart worker and bring more revenue to your company, you will see your career growth in no time. The rewards behind a REIT career are really appealing from the outside.
Who Must Apply For A Job In REIT?
However, if you are a risk-taker and know how to analyze the financial market, this career can be really rewarding for you. Hence, to have a successful career in the real estate investment trust sector, you need to have the following skills:
- You must have a good idea of real estate and the variety of investment options associated with real estate investment trusts.
- You must be passionate about real estate and learning the ins and outs of the real estate market. Your ultimate target would be to help the investor in investing in real estate.
- You must possess management skills and analytical skills. You will never be afraid of taking risks.
- You must also know how to get past risky situations and save your company and clients at the same time by informing them about various risks in the market.
- You know people skills and have exceptional skills in negotiating with clients.
Best Paying Jobs In Real Estate
The following are some of the best job options available in the real estate investment trusts that are not only well-paying but are well-respected as well:
1. Property Accountant
Average Salary: $71,500
These people basically create and analyze financial reports. Furthermore, you will also be responsible for delegating tasks to the junior accountants.
The job of a property accountant is basically to gain insights from financial reports. The individual then uses those insights to find out how much a property generates and how much the expenses are. In general, property accountants deal with multiple units and have to perform simultaneous supervising.
Furthermore, the job role also requires the property accountant to maintain the financial details and keep them up-to-date.
2. Financial Analyst
Average Salary: $73,000
These analysts are responsible for offering analysis to the company in support of the financing, acquisition, leasing, and marketing of properties on behalf of the company. Here, you will analyze the trends and statistics of the market.
Financial analysts have to study and review the performance of real estate investments. Furthermore, they also offer guidance to investors and clients on their investment choices. Apart from that, these individuals also assist and advise their employers on what investment decisions to take in terms of real estate.
The main goal of financial analysts is to provide financial assistance to their employers to ensure that the company reaches its long-term investment goals. Hence, a financial analyst also gains insights from financial data and performs critical analysis. With the help of such analyses, the financial analyst prepares reports for investments and makes projections for the future.
3. Financial Risk Specialist
Average Salary: $100,000
This is one of the highest-paid jobs in the real estate investment trust industry. They earn an average of $100,000 annually. However, a candidate cannot get this job at the start since this is a role at the senior level.
Basically, the job of financial risk specialists is to make recommendations to control risks or reduce them. Furthermore, they might also make an insurance strategy for the same. In addition to that, these individuals work with traders to find out risks. Also, they consider calculating the associated risks in certain transactions.
Apart from that, these specialists also find out market trends and make forecasts based on those trends. This also helps them to create strategies to make business decisions. They also present ideas with the help of reports and make recommendations for current persisting issues.
4. Asset Manager
Average Salary: $84,500
An asset manager looks after the management of trading and investing part of a REIT company on behalf of the clients. Apart from that, these managers also advise clients as well. These managers are responsible for optimizing the value and performance of real estate within the portfolio. To do these, asset managers develop and implement strategic plans for properties, identify value-enhancing opportunities, monitor market conditions, and do a lot more.
These individuals have to deal with real estate assets and manage the trading aspects as well. They also provide clients with information about asset acquisition and disposition. Furthermore, they also use their negotiation skills to deal with investors and traders.
The role of asset managers requires individuals with strong communication skills, financial skills, and networking skills. Moreover, the job role requires such individuals to deal with tight deadlines and scarcity of resources. Since asset managers have to oversee asset portfolios, they have to know different techniques for dealing with risks.
5. Property Manager
Average Salary: $73,000
According to Investopedia,
“Generally, property managers take responsibility for day-to-day repairs and ongoing maintenance, security, and upkeep of properties. They usually work for the owners of investment properties such as apartment and condominium complexes, private home communities, shopping centers, and industrial parks.”
The primary duty of property managers is to find tenants for rental properties and real estate. This manager will also be responsible for signing and preparing lease agreements. Apart from that, they also have to perform their routine tasks. Furthermore, they also try to preserve the value of properties and ensure that the properties generate income for the company at all times. However, the role of a property manager can change depending on the demands of the company. This differs depending on the type of properties that the company is dealing with.
Summing Up
Hope this article was helpful for you in giving you a better idea of the best paying jobs in real estate investment trusts. However, before you land a job in REIT, you must ensure that you have the right qualifications and skills since this sector demands people like that. Otherwise, you will not be able to compete with some of the best candidates who want to land a job in REIT. Make sure that you are smart, well-spoken, have analytical skills, and have good knowledge of the real estate industry. Which job are you most interested in at REIT? Share your answer with us in the comments box below.
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