What is a REIT?
A REIT is a company that owns real estate and tangible estate-related assets and allows individuals or different investing groups to invest in these assets. Investors like REITs because they make it easier for them to invest in real estate without buying and managing their property. Real Estate Investment Trusts (REITs) provide workers with opportunities to work in a variety of real estate-related jobs.
Let me provide you with the ‘ 7 Best Paying Jobs in Real Estate Investment Trusts ‘
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Real Estate Broker
Real estate brokers are generally known for negotiating properties. This is one of the best-paying jobs in real estate investment trusts.
Always remember that brokers and agents are not the same. Most brokers have passed a qualification test and obtained a license. They are given certificates that allow them to work solely or with real estate agents.
If the brokers want to reach a higher position, they can study further. They are normally given a six-figure salary, and they are well worth their salary with their skills.
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CEO
CEOs keep the show running in whatever kind of company they are. They make sure that everything is all set and goals are being met. They provide directions overall for the company.
They keep monitoring other officers such as operating officers, chief financial officers, and chief human resources officers.
According to BLS, the median yearly income of a CEO is $179,520. That annual wage put them ahead of other top officers who work in professional services — they earn a median of $127,110.
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REITs Analyst
REIT analysts are the driving force behind the success of a REIT. Their wages range between $75,000 and $100,000. A bachelor’s degree in real estate or finance is required to become a REIT analyst. The REIT Analyst must be capable of effectively analyzing, researching, and developing different strategies for any new or already existing real estate opportunities.
REIT analysts share the results with the acquisition team. Then the acquisition team further decides whether the REIT should make an investment or not based on the data provided. They also keep an eye on other market opportunities and evaluate their value. When considering a career path, it is important to know whether Is REIT a good career path?
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Property Developer
Property developers play a key role in ensuring that new developments go as planned and within budget. Their responsibility is to hire or fire the contractors and work on the projects from the planning stage to the completion stage. An MBA in real estate or business is required to become a property developer. Their salary typically ranges from $80,000-$100,000.
Despite being deemed as one of the world’s best business opportunities, this job can be unstable and stressful because it involves managing and operating multiple moving parts. To be a property developer, you should be a competent multitasker and willing to work long hours, which can impact work and life balance.
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Property Manager
Property managers care for different types of real estate properties and communities like complexes, apartments, and industrial and commercial property. This is a demanding job and it has a lot of responsibilities tied to it. It is a win for you if you are well-organized and have outstanding communication skills and leadership abilities.
Property management staff will report to you, and you will be supporting staff, managing the property, and doing the upkeep. The property manager works a 9 to 5 schedule with the possibility of working on weekends also.
A high school diploma is required to become a property manager. Their median annual wage generally ranges from $59,230/per year
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Attorney or Lawyer
To become an Attorney or lawyer a license to practice law recognized by the judicial system of that particular country is required. Their estimated salary ranges from $100,000 to $150,000 and keeps on varying because it is level dependent.
There are numerous legal requirements and paperwork to be completed when purchasing the property. All the legal work is done by the attorney on behalf of the company.
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Real Estate Acquirer
A real estate acquirer should make sure that a real estate investment trust does not overrate a precious piece of land or property. They should stay tranquil and collected and have amazing negotiating skills.
If you have a bachelor’s degree in finance, well and good. And if you do not have one, it can’t stop you from working as a real estate acquirer. Being an acquirer, you will be rewarded with potential wages ranging from $140,000 to $200,000
Conclusion
To succeed in the REIT industry, individuals should possess a strong work ethic, excellent communication skills, and a deep understanding of the real estate market. A degree in real estate, finance, business, or a related field is typically required for entry-level positions, while advanced degrees or professional certifications can help individuals advance to higher-level roles.
In conclusion, the REIT industry offers a wealth of exciting career opportunities for those interested in real estate. With a diverse array of roles available, individuals can find a career that aligns with their skills, interests, and career goals. Whether one is interested in property management, investment analysis, or marketing, a career in the REIT industry can be both fulfilling and financially rewarding.
Also Read: Fastest Ways to Make Money in Real Estate
