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Navigating Careers in Real Estate: A Comprehensive Guide

By Beni Restea | February 16, 2024

We all know how the world spins, and there’s big money in real estate. Buyers, investors, sellers, and the go-between, real estate agents, brokers, appraisers, etc., will make a decent revenue by turning the wheels correctly. However, each party must have an asset to trade-off. The value homeowners and property buyers possess is crystal clear: real estate and money. 

What quality do real estate professionals bring to the table. as a selling point? Of course, it’s their market, financial, legal, and advertising knowledge. Does it pay to take the time and effort to learn these skills? Well, you’re here, reading this article, so you decide! 

Real estate is an endless sea of lucrative jobs.

At first sight, dealing with properties has a somewhat limited scope. Are there any other exciting jobs in real estate besides experienced local realtors and brokers in the industry? The answer is a definitive yes. 

Suppose you don’t dispose of an agent’s essential set of skills. In that case, you can educate yourself and gain experience in an alternative real estate domain, such as an attorney, teacher, video marketing specialist, or appraiser. All of them conceal the promise of a bright future!

So why don’t we navigate the most sought-after and best-paying careers in real estate and see whether we find the ideal calling for you?

Top-tier Real Estate Agent

Agents and realtors need no introduction. They embody the missing link between buyers and sellers. Their contribution is paramount if the parties wish for a smooth and fast transaction without delays. 

Suppose you master the most significant talents to launch a real estate agent’s career, such as communication skills, understanding social cues, integrity, and excellent negotiating ability. Being a savvy problem-solver and active listener also helps. Moreover, you can handle the digital world peppered with social media intricacies. Then, this is the correct path for you! Also, if you don’t know the local area and community you represent inside out, you’d better get down to it! 

Let’s see what requirements you need to meet to become a licensed real estate agent in the United States!

Getting your agent’s career straight step-by-step

First, you must be of age, meaning at least eighteen years old. Then, you must be a US citizen or a legal resident with a spotless criminal record (in most states). You must graduate from a high school, as most American states require a diploma as a requisite. Now comes the real challenge! 

You need to finish a state-approved pre-licensing real estate course. This program (generally around 60-180 hours) encompasses essential real estate topics, for instance, property law, contracts, principles, and real estate code of ethics. Next step: pass the exam and submit a license application to your state’s real estate executive authority! 

You obtained your license; now what? In most US states, you must work under the tutelage of a licensed (and prestigious) real estate broker. In addition, the state can request to attend approved real estate courses every few years. Lastly, we recommend you join the National Association of Realtors (NAR) and become a Realtor to access bonus resources and networking opportunities, information, and knowledge you can’t procure from school.

Savvy and competent Real Estate Broker

Essentially, a broker is a more experienced real estate agent with better education, field practice, and certificates. They manage transactions their agents are currently involved with to ensure complete transparency and compliance with the law. You might wonder whether you’d be up for this job. Before you answer, go through the following checklist! 

A professional real estate broker has improved their communication skills to perfection. They’re patient teachers to their clients and agents working under them. Then, they possess the “homegrown touch,” which refers to knowing personal details about customers, which lets them see the broker cares for them. For this reason, no one can beat them at networking. 

An expert broker is always on time, adapts to new technologies fast, and receives local housing market news first. Then, they are always aware of present and upcoming market trends.

Getting ready for your licensed real estate broker career

The initial requirements from the agent’s entry apply here as well. Let’s see what changes! First, you must get a real estate salesperson license. Complete a pre-licensing education (varies from state to state but usually lasts around 135 hours) and pass a state licensing exam. Then, you must work as a licensed real estate agent for about one to three years. 

Your professional training shall continue with broker-specific courses, as specific states request. The great milestone will be finishing a state-approved broker pre-licensing course encompassing more complex subjects and difficult exams on real estate law, practices, and procedures in effect. Once you pass the exam, you are requested to get E&O ( Errors and Omissions) insurance to receive coverage for liability claims (only in certain US states). 

In one of the final stages, you must submit your broker license application to your state’s licensing board or real estate commission. Don’t forget to inform yourself about continuing education courses, which are essential for your license’s renewal! Your current state will establish the conditions to resume your broker’s activity.

Property Manager

Property managers are the right hands of property owners or real estate management companies. As such, they oversee and manage residential and commercial properties from top to bottom so they stay profitable and in excellent shape. 

Asset managers are tasked with advertising and promoting vacant units, handling lease agreements, collecting rent, maintenance and repairs, property inspections, and landscaping. But their assignments don’t finish here. They must oversee budgets and provide financial reports to the building owners. And it’s their duty to guarantee that everything happens legally on their turf. 

A manager must have extensive skills and background education in local and state real estate laws. Then, they must strengthen their customer service, communication, and administrative skills because they will interact daily with tenants, new clients, contractors, and local authorities.

Learn the essentials to become a licensed property manager in the States!

The lowest academic necessity is a high school diploma or equivalent (GED.) Similarly to agents and brokers, you must hold a real estate license. The criteria change from state to state, but most certainly, you’ll have to take particular property management courses. Specific states will ask for several years of experience in the field before you can apply for the license. Moreover, (some) property owners can pose other requirements from you, for example, bachelor’s degrees in finance, business, real estate, or accounting, 

It would be best to consider acquiring a professional property management certification like the Certified Property Manager (CPM) issued by the Institute of Real Estate Management (IREM!) This document will boost job prospects and overall professional credibility. There can be yearly courses in property management the state can make you attend to renew your license.

Real Estate Appraiser

An appraiser can be a homebuyer’s or an aspiring real estate investor’s best friend because they define a property’s present fair market value for sale. For this purpose, they operate on-site inspections and verify the property’s interior and exterior condition. Furthermore, when they’re offsite, they consider the local housing market trends and consider comparatives (the price of similar properties in the neighborhood) before determining a home’s worth. 

What training do you require to obtain a real estate appraiser license?

Nationally, the Appraiser Qualifications Board determines course essentials or the Real Property Appraiser Qualification Criteria. Still, they may vary in each state. Before signing up for a course, you must decide which career to pursue. You can choose between Certified General Appraiser, Licensed Residential Appraiser, and Certified Residential Appraiser with different criteria.

Regularly, a trainee must find a mentor and work under a licensed appraiser’s supervision first. Then, they must complete at least 75 hours of primary appraisal education from a qualified education provider, incorporating fifteen hours of the Uniform Standards of Professional Appraisal Practice (USPAP). 

You must pass the relevant state or national license test after fulfilling the education and experience criteria. This exam will test your understanding of appraisal concepts, processes, and regulations.

Final thoughts

Navigating careers in real estate provides enormous financial success and personal achievements. You may begin on a profitable path by knowing the business, receiving the proper education and licenses, and improving your talents. Remember that real estate success involves effort, perseverance, and a dedication to continual education and professional development. With the appropriate attitude, you can create a flourishing real estate profession that will last a lifetime!

Beni is very passionate about real estate, finance and traveling, which is the motivating force behind the inspiring topics he writes about for
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