Real estate can be a rewarding (and lucrative!) career choice, but if you’ve got a real estate license, there is so much more out there than just being a real estate agent. The real estate industry is pretty wide open, and there are a lot of directions that you can go after earning your license.
Regardless of if you just earned your license, or if you’ve been working as an agent for many years, the industry has plenty of opportunities available to suit a wide spectrum of skills and strengths. If you’ve decided that being a residential real estate agent just isn’t for you, check out these other real estate careers that you may not have considered.
If you’re great at managing a lot of different things, delegating tasks, and taking charge, becoming a property manager might be a good career choice. You have to make sure everything runs smoothly, repairs are done in a timely manner, and the property is turning a profit for the owner.
Commercial Real Estate Agent
If residential real estate isn’t your thing, you might want to think about getting into commercial real estate instead. You might end up dealing with buying and selling, or leasing properties.
Commercial agents have to help businesses boost their profits, so there is definitely more math and research involved with this side of real estate. This means that deals can take a lot longer to close, but you might find them more profitable.
Residential or Commercial Appraiser
If you’ve done even a single transaction, you’ve certainly worked with an appraiser. You’ll get to spend half of your day out in the field, and you’ll deal mostly with real estate agents instead of consumers. You’ll also have job security, as there is always a need for a good appraiser, and anyone with good networking skills is likely to stay very busy.
Residential appraisers collect information about residential properties to determine the property’s worth, usually before it’s sold or mortgaged. They can sometimes work for the government to determine value for tax purposes. Commercial appraisers also determine a property’s worth, but they (obviously) deal with commercial instead.
This position is for people that are very organized and great with deadlines. As a foreclosure specialist, you will help a lender, a homeowner, or both navigate the foreclosure process.
While the foreclosure specialist’s main job is to facilitate the process by which a lender will reclaim property due to nonpayment, the foreclosure specialist is also tasked with reviewing mortgage payment history and financial documents to determine if there is a way to help the homeowner save their property before the lender takes it.
Broker in Charge
This position is best suited for super organized real estate agents that have been working in the field for a while, are great at managing other people, and are looking for something with more regular hours. It’s only available if you’ve had a few years of experience already, and have done further education.
Unlike a regular real estate agent, the broker in charge will mostly be at a desk, and work the standard 9 to 5 hours. You’ll be in charge of the entire office, and you’re also responsible for all of the agents that work at that office.
Real Estate Investor
Technically you don’t need a real estate license to be a real estate investor, but it certainly gives you a leg up. Simply put, this job means that you’ll be buying and flipping properties. It’s not exactly as easy as HGTV makes it look, though. It will involve a lot of work, and you’ll benefit if you’re handy enough to do some of it yourself. It also requires that you have the capital to get started.
But if you love the rush of hunting for a good deal and transforming them for big payouts, this is definitely an exciting and potentially lucrative career path.