If you are looking for a rewarding and lucrative career path in the real estate sector, you might want to consider working in Real Estate Investment Trusts (REITs). REITs are companies that own, operate, and finance income-generating properties such as apartments, malls, hotels, warehouses, and more. REITs allow investors to buy shares of these properties and earn dividends from the rental income or capital gains. REITs also offer tax benefits, diversification, and liquidity to their shareholders.
What is a REIT Professional?
A REIT professional is someone who works for a REIT company or manages a REIT portfolio. A REIT professional can have various roles and functions depending on their expertise, experience, and position. Some of the common jobs in REITs are:
- Broker: A broker is someone who helps buy and sell properties for a REIT company. A broker needs to have strong negotiation, communication, and market analysis skills. A broker also needs to have a license and comply with the regulations of the state where they operate.
- Investor Relations: An investor relations specialist is someone who communicates with shareholders, analysts, media, and regulators about the performance, strategy, and outlook of a REIT company. An investor relations specialist needs to have excellent presentation, writing, and financial skills. They also need to have a good understanding of the REIT industry and the relevant laws and regulations.
- Accountant: An accountant is someone who prepares and audits the financial statements, tax returns, and budgets of a REIT company. An accountant needs to have strong accounting, auditing, and tax skills. They also need to have a certification such as CPA or CMA and follow the accounting standards and rules for REITs.
- Architect: An architect is someone who designs and oversees the construction or renovation of properties for a REIT company. An architect needs to have creative, technical, and project management skills. They also need to have a degree in architecture and a license from the state where they work.
- Designer: A designer is someone who creates and implements the interior or exterior design of properties for a REIT company. A designer needs to have artistic, aesthetic, and functional skills. They also need to have a degree or certificate in design and a portfolio of their work.
- Financial Analyst: A financial analyst is someone who analyzes the financial performance, valuation, and risk of a REIT company or portfolio. A financial analyst needs to have strong analytical, mathematical, and modeling skills. They also need to have a degree in finance, economics, or related fields and a certification such as CFA or FRM.
- Property Manager: A property manager is someone who manages the day-to-day operations of properties for a REIT company. A property manager needs to have organizational, customer service, and problem-solving skills. They also need to have a degree or certificate in property management or real estate and experience in managing similar types of properties.
- Marketer: A marketer is someone who promotes and advertises the properties or services of a REIT company. A marketer needs to have creative, strategic, and communication skills. They also need to have a degree or certificate in marketing or related fields and knowledge of the latest marketing trends and tools.
- Developer: A developer is someone who plans and executes the development or redevelopment of properties for a REIT company. A developer needs to have entrepreneurial, visionary, and leadership skills. They also need to have a degree or certificate in real estate development or related fields and experience in developing similar types of properties.
- Human Resources: A human resources specialist is someone who recruits, trains, evaluates, and retains the employees of a REIT company. A human resources specialist needs to have interpersonal, organizational, and legal skills. They also need to have a degree or certificate in human resources or related fields and knowledge of the labor laws and best practices for REITs.
Is Real Estate Investment Trust a Good Career Path?
Working in REITs can offer many benefits such as:
- High-Income Potential: According to Indeed.com, the average salary for jobs in REITs is $86,722 per year as of May 2023. Some of the best-paying jobs in REITs are developer ($125,000), financial analyst ($97,000), and investor relations ($95,000).
- Career Growth Opportunities: Working in REITs can expose you to various aspects of the real estate industry and help you develop valuable skills and knowledge. You can also advance your career by taking on more responsibilities, managing larger projects, or switching to different roles within or across REIT companies.
- Job Satisfaction: Working in REITs can be rewarding and fulfilling as you contribute to the success of the company and the well-being of the investors. You can also enjoy the diversity and dynamism of the real estate market and the challenges and opportunities it presents.
- Work-Life Balance: Working in REITs can offer flexibility and autonomy in terms of your work schedule, location, and environment. You can also benefit from the perks and benefits that REIT companies offer such as health insurance, retirement plans, bonuses, and more.
How to Get Started in REITs?
If you are interested in working in REITs, here are some steps you can take to get started:
- Research: Learn more about the REIT industry and the different types of REITs such as equity, mortgage, or hybrid REITs. Find out what are the current trends, challenges, and opportunities in the market and how they affect REITs.
- Network: Connect with people who work in REITs or are interested in REITs. You can join online forums, social media groups, or professional associations such as Nareit or CFA Institute. You can also attend events, webinars, or conferences related to REITs and meet potential employers, mentors, or peers.
- Educate: Enhance your skills and qualifications by pursuing a degree or certificate in real estate, finance, accounting, or related fields. You can also obtain a certification or license such as CPA, CFA, or real estate broker to boost your credibility and competitiveness.
- Apply: Look for job openings in REIT companies or portfolios that match your interests, skills, and goals. You can use online platforms such as Indeed.com, LinkedIn.com, or Glassdoor.com to find and apply for jobs in REITs. You can also reach out to your network and ask for referrals or recommendations.
Thus, working in REITs can be a good career path for anyone who is passionate about real estate and wants to earn a high income, grow professionally, and achieve a work-life balance. However, working in REITs also requires hard work, dedication, and continuous learning. If you think you have what it takes to work in REITs, start by researching, networking, educating, and applying for jobs in REITs today. You might find your dream job in the real estate sector. Good luck!
