The real estate market has numerous career opportunities. Every career requires different skills and qualifications. This guide below explores the major areas you can launch your career in within the general real estate industry.
Real Estate Agents and Brokers
Agents require great interpersonal skills as well as determination since their pay is dependent on a commission. They sell or buy houses and properties on behalf of the owner. Different states have different requirements for certification and licensing of residential and commercial real estate agents. An agent has to undertake some training and tests before acquiring a license. Their major role is to show prospective buyers homes and help them with financing and government programs. They work under the supervision of a broker.
Brokers are experienced agents who get a second level license after undertaking further studies and tests. They can own real estate firms and franchise and employ real estate agents. Some of their major roles are evaluating potential income of the property and offering guidance about tax laws.
Real Estate Managers and Inspectors
Property manager’s role is to manage and maintain the property on behalf of the owner. Managers require certification based on their duties that include list properties, collect rents and negotiate leases.
Real estate inspectors’ task is to assess the property and ensure the buildings are up to the set standards. A residential property inspector looks for flaws in the exterior, roof, and electrical appliances. Most states require an inspector to be licensed.
They act as a third party giving an independent value of the property. An appraiser can work for a firm or a bank and must have the necessary certification and licenses. He must have a background in accounts, economics, and mathematics.
Mortgage consultants and Underwriters
A mortgage consultant advises the borrowers on choosing the best mortgage. He may work independently or for firms and banks. He earns commissions on successful loan. He assists clients in the loan application. A certified mortgage consultant has vast experience in the real estate industry.
An underwriter is the one who ensures that a mortgage applicant can repay the loan. He can turn down, suspend or approve the mortgage. An underwriter must be licensed in the state they are working.
Real Estate Consultants
They help buyers understand how to invest for them to make good financial returns. He helps them make decisions after sharing with them the property types and areas that have potential to appreciate. They have their own practice and they have to undertake some programs to get certification.