How many jobs are available in real estate investment trusts?
A real estate investment trust that owns and manages real estate assets and generates income is known as a REIT. The REIT sector’s job market is expanding rapidly. The industry alone generated $197 billion in labor income and 2.9 million full-time jobs for the US economy in 2020. For anyone who is seeking employment in REIT, then there is good news plenty of chances are available.
Are you interested in finding out How many jobs are available in real estate investment trusts? What kinds of jobs are available in Real estate investment trusts? In this article, I will go through the many job options in REIT, how to be hired and start a real estate career, what REITs are, and how they work. Take a dive into the below discussion.
What are Real estate investment trusts (REIT)?
A firm, trust, or corporation that owns and manages real estate assets that generate income is known as a REIT. They possess a variety of commercial properties, including
- Offices
- Residential complexes
- Hotels
- Malls
- Shopping centers.
Because they are based on mutual funds, they pull the resources of a number of investors to acquire a property, allowing those investors to get dividends on the rent they receive without having to buy or manage the property themselves. According to the third quarter of 2022, REIT financed about 1 million families and 535,000 properties. They are seen as a crucial component of the local economy and communities in the US.
How do real estate investment trusts do?
In contrast to other real estate businesses, REITs do not acquire and develop real estate for resale. A REIT puts funds from both people and organizations to buy real estate. After setting up the properties, they make them available for investment.
Individual investors receive a portion of the property’s income through REITs. In this way, you can earn from the property’s income without purchasing or managing it yourself. Most real estate investment trusts are traded like stocks. The Internal Revenue Code states that 75% of the corporation’s income comes from real estate sales, interest, or rent.
Types of real estate investment trusts
Real estate investment trusts (REIT) are broadly classified as;
1. Publicly traded real investment trusts:
These REITs can be purchased through a broker and are listed on significant stock markets like the New York Stock Exchange. They are generally more liquid and accessible to the general people.
2. Publicly non-traded real investment trusts:
Despite being SEC-registered, these REITs do not trade on regional stock exchanges. They are less liquid but more stable because market changes do not affect them. Furthermore, the general public needs help to access them.
3. Private real investment trusts:
Large financial institutions and accredited investors are typically accessible. They do not trade on national securities exchanges and are not SEC-registered.
There are further classified into subgroups on the base assets type and way of income.
- Equity real investment trusts
- Mortgage real investment trusts
- Hybrid real investment trusts
There are further classified based on the property type.
- Office
- Industrial
- Hospitality
- Residential
- Healthcare
- Diversified
How many jobs are available in real estate investment trusts?
According to the Bureau of Labor Statistics, there were more than 562,100 opportunities in REITs in 2021. By 2031, it is anticipated to expand even further. It’s a booming sector with lots of employment options. People who work for REITs typically investigate real estate investment options, manage rental properties for investors, or oversee the construction of real estate that generates revenue.
1. Real estate broker:
If you’re skilled in negotiations, you might want to apply to fill this real estate investment trust position. Keep in mind that being an agent and being a broker are two different things. A license and passing the required qualification test are requirements for brokers.
It is encouraged to be an expert with numerous credentials to your name, allowing you to perform on your own. You have the option of setting up your own business or continuing your schooling to advance your job. Brokers make six figures and are well-paid for their abilities and strategies.
2. Real estate investor:
Real estate investors are responsible for buying assets, adding value to them, and reselling them for a profit. The most lucrative career in this industry may be that of a real estate investor. To make anything work though, you need expertise, time, and patience. To do this, you must be aware of where, and when to buy.
3. Manager for property development:
Property improvements are a great way to make money in REIT areas. Property development managers oversee all forms of development projects. They work mostly on the planning and building of new properties.
Another option to earn from this developing business is to work as a real estate developer. The building’s developers are in charge of all design and construction documentation, and they work together to check the structure’s assets.
4. Roles Acquisition:
These real estate investment professions also come with good income, with an annual salary of $80,000. You need a degree in finance, marketing, business, or capital markets to get hired for this role. Additionally, you have the ability to address issues and propose new investment prospects, knowledge of the real estate business, and the capacity for creative thought.
5. Analyst in real estate investment trust:
Your main duty as a REIT analyst would be to research real estate investment trusts and provide investors with suggestions. You need to have a solid understanding of the REIT sector to be successful in this position.
Analyze the variables affecting REIT performance as well. Jobs for REIT analysts are growing in demand and becoming harder to find so, to get the job you must be aware of How many jobs are available in real estate investment trusts.
What are the best salary jobs in real estate investment trusts?
There are lots of best-salary jobs available in REIT;
| Jobs | Annual salary |
|---|---|
| Asset management Vice president | $261,100 |
| Mortgage loan officer | $ 215,749 |
| Real estate attorney | $156,682 |
There are lots of other jobs, that are highly paid in Real estate investment trusts;
- Real estate developer
- Agents,
- Analyst,
- Manager,
- Broker,
- Accountant, and
- Property appraiser
What are common jobs available in REIT?
| Job type | Number of jobs |
|---|---|
| Real Estate sales supervisor | 77,000 |
| Title examiner | 20,000 |
| Property Manager | 117,000 |
| Administrative assistant | 854,000 |
| Sales associate | 148,000 |
| Broker | 150,000 |
| Appraiser | 33,000 |
| Escrow officer | 69,000 |
| Leasing Consultant | 62,000 |
Statistics about the average annual salary real estate industry
According to May 2021, the statistics about the average yearly salary real estate industry are;
| Median annual wage | $48,340 |
|---|---|
| Lowest 10 percent annual wage | $28,270 |
| Highest 10 percent yearly wage | $102,170 |
Current statistics about how many REIT jobs
On February 6, 2023, there were over 1278 jobs available inside real estate investment trusts, according to statistics from LinkedIn. That is just one site, but it shows that there are many other opportunities in the industry. One sector that is expanding quickly is the REIT market. In addition to needing investors, numerous other ongoing staff is required.
Rules and regulations for joining the REIT
You can kickstart your journey into this industry with the right information and know How many jobs are available in real estate investment trusts. Below are some things you need to know before kickstarting your career.
- You must have a passion to work in the REIT industry.
- Pay close attention to housing market forecasts and stay informed of all the latest real estate investing news developments.
- Deciding the area in which you want to work. Common specialized areas are retail, residential, healthcare, office, mortgage, hybrid, publicly, public non-traded, and private real estate investment trusts.
What are the Benefits of working in a real estate investment trust?
Here, we will discuss some of the benefits you will get while working in a real estate investment trust.
- Future growth forecasts:
Because real estate is a constantly changing subject, the industry is expected to develop significantly in the future. There will always be a demand for housing.
Real estate investment opportunity:
If you don’t have the money to invest in real estate, you might apply for employment to earn the money you need.
Skills and knowledge:
Working for a real estate company can equip you with the skills you need to achieve your financial objectives.
FAQS
Q. How many jobs are available in REITs?
1000-2000 jobs are available in REITs.
Q. Is REITs, a good career path?
Yes, REITs are a good career path.
Q. What are two types of REITs
Equity and mortgage are types of REITs
Final thoughts
The real estate investment trust market is already significant and expanding. Working for a REIT requires strong reporting and legal requirements. Many jobs at real estate investment trusts demand that the candidate have experience in finance or accounting. Hopefully, this article provides you with the answer How many jobs are available in real estate investment trusts.
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