The real estate industry is enormous. In the United States alone, over 3.7 million people are working in Commercial real estate jobs. Besides, 13% of GDP comes from the real estate industry. The value of commercial real estate jobs and industry is almost $16 trillion.
Therefore, we can see that we are facing a highly profitable industry and a competitive atmosphere.
However, despite its impact and scale, there is still a lot of confusion about what a job means in the real estate industry. Thus, we will explore various careers and how to choose the right career path for you in the deep study of commercial real estate jobs.
If you ask any layman about jobs in the real estate industry, you get some typical answers. They are likely to tell you that the real estate expert lists and sells houses. They would just think about residential real estate agents.
We should consider that the real estate industry is much more than just local or online real estate agents. In other words, it is a diverse group of well-educated professionals designing, developing, investing in, and managing the places where clients live, work, shop, and play.
This industry offers a wide range of money-making jobs. These job opportunities are in different fields. Therefore, you can find some choices in development, property management, portfolio management, and acquisitions.
In order to choose the right career, you must first understand what options exist. If you are going to start a job in the real estate industry, you may think of a real estate broker or developer. However, the significance of the industry is much more than that. Real estate agents and real estate developers account for only a small part of the total number of professionals in the industry.
Here, we will try to introduce commercial real estate jobs more and help you to have a good attitude toward them.
A real estate acquisition analyst should perform market research and analysis of potential real estate investments for their firm’s investment portfolio. They try to analyze the market and offer the most suitable tools for real estate marketing in order to get the best out of the market.
This manager should manage the real estate operations of a non-real estate-focused organization. It might look a little odd. There are some large non-real estate-related companies that own millions of real estate properties. It’s where their employees work, their products are produced, and their customers shop.
A corporate real estate manager has a social and financial duty to manage this space effectively and efficiently. Hence, they hire real estate professionals to help them acquire, plan, manage, and dispose of the space they use.
The asset management function is responsible for the operational and financial performance of the asset portfolio in the real estate investment trust fund. Usually, there is a vice president or senior vice president of asset management. They are responsible for their small assets. Asset management is a collaborative function that can be used with accounting, acquisition, and development.
If you want to serve as the vice president of asset management, you may need an undergraduate degree and approximately 10 years of industry experience.
Because this position requires a lot of skills, there are many ways you can take to achieve this goal. For example, you can start with the acquisition team as an analyst and then gradually rise, or start with the property management side.
The daily life of a commercial real estate agent may include more research. Commercial agents can help companies choose and protect locations that can increase their profits. Sometimes this means renting a large office space. On the other hand, it may be the ideal place to find the next large coffee chain to build a store. Therefore, business agents must generally pay more attention to discover statistical information and data about the area before completing the transaction.
Besides, a real estate agent can be an online one. Realtor online agents try to find their clients on social media or other web-based sources. These agents can be realtor Instagram consultants. Since the world has changed, these new job opportunities have been born.
The portfolio administrator is a financial analyst. Therefore, he usually works in different firms. They help your real estate business to move forward. A real estate portfolio administrator’s duty includes planning and overseeing how a client’s investments are organized into a financial portfolio. In other words, they try to enlighten the way that your company is stepping in. A real estate portfolio administrator also leads the company in creating innovative real estate marketing services. These services can open new doors for a more successful company.
This job position is responsible for raising equity capital for a real estate investment or fund. However, it can be on behalf of a third party for your firm’s own account, as well. Real estate firms will often have experts responsible for sourcing equity capital to fund their real estate investments. Additionally, brokerage firms and capital advisory firms offer capital-raising services.
The loan servicing manager looks at different aspects of a real estate loan. Lenders either service their loans in-house or hire a third party to service loans. Either way, a loan servicing professional collects debt service payments, monitors and reports on borrower requirements under the loan, collects borrower reports.
Teaching real estate at the university level. Real estate is a relatively new field of research. The graduate real estate programs of MIT, Cornell University, Columbia University, University of Southern California, and Harvard University are less than 35 years old, and the first graduate business plan was established 115 years ago. Therefore, most of the career opportunities in real estate academia are concentrated in a few universities.
Commercial appraisers spend part of the day in the office and part of the day in the community, appraising properties. Commercial appraisers rely heavily on mature appraisers to teach them how to determine the value of the property. This job can be classified as a subcategory of commercial real estate jobs.
To sum up
In this article, we tried to introduce some commercial real estate jobs. We talked about these job opportunities and explained the skills you need. It might look like a competitive industry, but you can get good knowledge about your choices by reading this article.