Are you looking to know how many jobs are available in real estate investment trusts? Look no further! The real estate industry is booming, and a new report from the US Department of Labor predicts that 22,000 new paying jobs in Real Estate Investment Trusts (REITs) will be available in 2023. This is great news for those looking for an exciting career opportunity in the real estate sector. Read on to learn more about the REIT industry, the new jobs that will be available, and how to take advantage of them!
List of Best Paying Jobs In Real Estate Investment Trusts In The US
- Real Estate Sales Supervisor — 77,000+ Jobs
- Real Estate Administrative Assistant — 854,000+ Jobs
- Property Manager — 117,000+ Jobs
- Real Estate Broker — 150,000+ Jobs.
- Real Estate Sales Associate — 148,000+ Jobs
- Escrow Officer — 69,000+ Jobs
- Leasing Consultant — 62,000+ Jobs.
- Appraiser — 33,000+ Jobs.
- Title Examiner — 20,000+ Jobs
Job Market For Reits Is Growing
The real estate industry is booming, so the job market for Real Estate Investment Trusts (REITs) is also growing. A REIT is a publicly traded company that owns and operates income-producing real estate, such as shopping malls, apartment buildings, office buildings, and warehouses.
The demand for REITs is increasing due to their ability to generate steady cash flow, making them an attractive investment for individuals and companies.
In the past few years, REITs have hired more workers to meet the rising demand for their services. In 2020, more than 18,000 people were employed in REITs in the USA, with about half of those employees working in management and administrative positions.
By 2023, it is expected that number will grow to 22,000. This growth provides a huge opportunity for people looking to enter the field of real estate investment trusts.
There are various job opportunities in REITs, including asset managers, analysts, developers, financial advisors, accountants, and portfolio managers. While the job market for REITs is growing, competition is still fierce. Having the right skills and qualifications to stand out from the crowd and get hired in a REIT position is important.
Top Jobs Available in Real Estate Investment Trusts
There are a variety of jobs available within Real Estate Investment Trusts (REITs) in the USA, but some of the most common include:
The asset Manager is responsible for managing and optimizing the performance of the REIT’s properties and ensuring that the REIT’s investment goals are met.
Portfolio Manager responsible for managing the REIT’s portfolio of properties, including identifying new investment opportunities and managing the REIT’s existing properties.
Financial Analyst is responsible for analyzing and evaluating financial performance, including creating financial models and forecasting future performance.
Property Manager responsible for overseeing the day-to-day operations of the REIT’s properties, including rent collection, tenant screening, and maintenance and repairs.
Leasing Agent is responsible for leasing the REIT’s properties to tenants, including negotiating leases and managing the lease process.
Legal Counsel responsible for providing legal advice and representation related to the REIT’s properties and transactions.
Accounting and Finance
Accounting and finance manage the REIT’s financial records, create financial statements, and ensure compliance with financial regulations.
Development and Construction
Development and construction are responsible for managing the development and construction of new properties and property renovations.
Research and Market Analyst
Research and Market Analyst Responsible for analyzing market conditions and trends to identify potential investment opportunities and to help with the REIT’s acquisition strategy.
Property development refers to identifying, acquiring, and improving land and buildings to create new or enhanced real estate assets. This can include acquiring land, obtaining zoning and building permits, designing and constructing new buildings, and managing the sale or rental of finished properties. The ultimate goal of property development is to create value by creating or improving real estate assets.
Property management oversees and maintains real estate properties on behalf of the owner. This can include rent collection, tenant screening, maintenance and repairs, budgeting and financial reporting, and compliance with laws and regulations.
Property managers are responsible for ensuring that the property is well-maintained, that tenants are satisfied, and that the owner’s financial goals are met. The ultimate goal of property management is to maximize the property’s value for the owner while also providing tenants with a safe and comfortable living environment.
Real Estate Investor
A real estate investor is an individual or entity that uses capital or borrowed funds to acquire or develop real estate assets to earn a return on investment. Real estate investors may purchase and hold properties for rental income, flip properties for a quick profit, or develop properties for resale.
Real estate investors can be individuals or companies and invest in various properties, including residential, commercial, and industrial. They may also use investment strategies such as value-add, buy-and-hold, or development. The ultimate goal of a real estate investor is to earn a profit through the purchase, ownership, management, and disposition of real estate assets.
Real Estate Attorney
A real estate attorney is a legal professional who provides legal advice and representation related to real estate transactions and disputes. They can assist with various matters, including buying and selling properties, drafting and reviewing purchase agreements and other legal documents, negotiating and closing deals, and resolving real estate transactions.
They can also help with title issues, zoning and land use, mortgage financing, and other legal matters related to real estate.
Real estate attorneys are also well-versed in laws and regulations that govern real estate transactions. They can help clients navigate the legal aspects of buying, selling, and owning real estate.
Real Estate Property Appraiser
A real estate property appraiser is a professional who estimates the value of a property by analyzing and comparing data on similar properties, as well as evaluating the condition of the property being appraised.
They use this information to estimate the property’s fair market value, which can be used for various purposes, such as determining the price for sale or rental, settling legal disputes, and establishing property tax assessments.
Appraisers can appraise properties, such as residential, commercial, industrial, and special-purpose properties. They must have knowledge of the local real estate market and experience in property appraisal and typically must be licensed by the state where they operate.
A REIT (Real Estate Investment Trust) analyst is a financial professional who analyzes and evaluates REITs as potential investments. REITs are companies that own and operate income-producing real estate properties and are required to distribute a significant portion of their income to shareholders in the form of dividends.
REIT analysts research and analyze different REITs, evaluating their financial performance, management, real estate assets, and other factors to determine their potential as investments. Also, monitor and report on the performance of REITs they follow, providing recommendations to investors on whether to buy, sell, or hold shares of a REIT. REIT analysts can be employed by investment banks, brokerage firms, or investment research firms and may also work independently as financial advisors.
Investor Relations (IR) manages communication between a company and its investors. Investor Relations aims to effectively communicate the company’s financial and operational performance, strategy, and prospects to the investment community.
This can include disseminating information through earnings releases, conference calls, investor presentations, and other forms of communication. IR professionals also work to build and maintain relationships with key investors, including institutional investors, analysts, and other financial professionals.
They help ensure that the company’s message is communicated and that the investment community understands its performance and prospects. IR professionals also help to manage the company’s interactions with analysts and investors, such as answering questions and providing information for analysts’ reports.
Acquisitions refer to the process of one company buying or taking control of another company. Acquisitions can take various forms, such as a merger, a takeover, or purchasing a majority stake in the target company.
The acquiring company, also called the parent company, can gain control of the target company through various means, such as buying most of the target company’s stock, purchasing all of the target company’s assets, or merging with the target company.
The goal of an acquisition is often to gain access to new markets, customers, products, or technology or to acquire a company’s assets, intellectual property, or skilled personnel. Acquisitions can also be made for strategic or financial reasons, such as to increase market share, diversify the business, or improve economies of scale.
Asset management in real estate refers to managing and optimizing the performance of real estate assets on behalf of an owner or investor. This can include identifying and implementing strategies to increase the property’s value, monitoring and reporting on the property’s financial performance, and making decisions related to leasing, operations, and dispositions.
Real estate’s ultimate goal in asset management is to maximize the property’s value and return on investment while ensuring it is well-maintained and operated.
Asset managers in real estate may also be responsible for managing properties owned by a REIT (Real Estate Investment Trust) or other institutional investors. They may work for the REIT, a property management firm, or a separate asset management company. They may also use different strategies such as value-add, buy-and-hold, or development to maximize the return of the assets under management.
What Qualifies as REIT in the USA?
In the United States, a Real Estate Investment Trust (REIT) is a type of investment invested in real estate properties. To qualify for a REIT under USA tax law, you have to meet the following criteria:
- Organizational Structure: A REIT must be organized as a corporation, trust, or association in the US.
- Ownership: A REIT must own a substantial portion of its real estate assets and generate most of its income from real estate-related activities.
- Diversification: A REIT must have a diversified portfolio of properties, with at least 75% of its properties invested in real estate.
- Distribution of Income: A REIT must distribute at least 90% of its taxable income to shareholders as dividends.
- Shareholder Ownership: At least 75% of a REIT’s outstanding shares must be held by individuals, and five or fewer individuals can hold up to 25%.
- Management: A REIT must have a board of directors and a management team responsible for the properties’ operation and management.
- Regulation: REITs are regulated by the USA Securities and Exchange Commission (SEC) and must comply with specific financial reporting and disclosure requirements.
In addition to these requirements, REITs must elect to be taxed as REITs with the Internal Revenue Service (IRS) and comply with specific organizational and operational requirements. By meeting these criteria, REITs can offer investors the potential for high yield and long-term growth through exposure to the real estate market.
What are the Types of Real Estate Investment Trusts?
There are several types of Real Estate Investment Trusts (REITs), each with a different focus and investment strategy. Some of the most common types of REITs include:
- Equity REITs: These REITs invest in and own properties and generate income through rental income and appreciation of the property’s value.
- Mortgage REITs: These REITs invest in mortgages and mortgage-backed securities and generate income through interest and principal payments.
- Hybrid REITs: These REITs combine elements of both equity and mortgage REITs, investing in properties and mortgages.
- Public REITs: These REITs are publicly traded on stock exchanges, allowing individuals to purchase shares in the REIT and participate in its profits.
- Private REITs: These REITs are not publicly traded and are not required to disclose financial information to the public. They are typically only available to accredited investors.
- Industrial REITs: These REITs primarily invest in industrial properties such as warehouses, distribution centers, and research and development facilities.
- Office REITs: These REITs primarily invest in office buildings and generate income through rental income.
- Retail REITs: These REITs primarily invest in properties such as shopping centers and malls and generate income through rental income and appreciation of the property’s value.
- Residential REITs: These REITs primarily invest in residential properties such as apartments and generate income through rental income.
- Healthcare REITs: These REITs primarily invest in healthcare properties such as hospitals, senior living facilities, and medical office buildings and generate income through rental income.
What Types of Properties are Expected In a Real Estate Investment Trust?
The properties in a real estate investment trust are the following:
- Residential properties
- Apartment buildings
- Single-family homes for rent
- Multi-family buildings
- Commercial real estate
- Office buildings
- Shopping malls
- Commercial properties
- Self-storage buildings
The Skills You Need To Succeed In A REIT Job
Real estate investment trusts require a unique set of skills and knowledge to be successful. REITs are complex investments that require an understanding of the market, financial analysis, and legal regulations. To succeed in a REIT job, you need to have excellent research and analytical skills and the ability to think strategically.
In addition, you need to have strong communication and interpersonal skills to interact with clients, tenants, and colleagues effectively. The ability to interpret financial data, build relationships with key stakeholders, and negotiate deals are all essential skills for REIT professionals.
Understanding real estate fundamentals such as construction costs, zoning laws, and market trends will also benefit a REIT job. Having experience in customer service and sales can be helpful when dealing with tenants and potential investors. Lastly, the ability to work within a team is essential for any role in a REIT.
What Kind Of Salary Can You Expect To Make In A REIT Job?
As with any job, the salary you can expect to make in a REIT job will depend on various factors such as experience, location, and the type of job. Generally speaking, salaries for REIT jobs are quite competitive. Depending on the type of position, salaries can range from the low six figures up to the high six for more experienced roles.
For entry-level positions, salaries can range from $45,000 to $70,000 per year. Management positions, such as portfolio manager or real estate analyst, can pay as much as $90,000 to $150,000 annually. Senior executive positions such as CFOs and CEOs can reach the mid-to-high six-figure range.
When considering a REIT job, remember that it is an investment sector, and your salary will be affected by the company’s success. This can lead to higher salaries if the company is doing well and lower salaries if the company is not performing as expected. Therefore, it is important to research the company and its track record before taking a job.
According to the occupational outlook handbook, real estate brokers and sales agents are the following:
How To Find A REIT Job That’s Right For You?
If you want to start your career in real estate, then it can be a life-changing career but finding the right job in a Real Estate Investment Trust (REIT) can be challenging, but it can also be quite rewarding with the right approach. Start your search by exploring different REITs in your area or ones specifically looking for talent.
Look into the company’s current projects and what they offer potential employees in terms of salary, benefits, and career growth opportunities. Additionally, research the job descriptions to ensure you have the necessary skills and qualifications to apply.
Once you’ve identified a few promising REITs, the next step is to apply for available positions. Start by submitting a well-crafted resume, highlighting your experience and any special skills that would make you stand out. Consider including references and relevant links to demonstrate your enthusiasm for the position.
If you’re interested in a specific REIT, reach out directly and inquire about any open positions or internships. Follow up your inquiry with a tailored cover letter expressing your enthusiasm for the company and its mission. Showing you to understand their unique needs and values can give you an edge over the competition.
Another great way to land a job with a REIT is through networking. Connect with industry professionals and get their advice on the best approach to your job search. Additionally, attend industry events such as conferences or seminars where you can meet potential employers and build relationships with other professionals in the field.
What Are World’s Largest Real Estate Investment Trusts?
According to Visual Capitalist, the Top 10 by Market Cap and World’s Largest Real Estate Investment Trusts are the following:
Real Estate Investment Trust FAQs
Here are some common questions and answers about Real Estate Investment Trusts (REITs):
What is a REIT?
A Real Estate Investment Trust (REIT) is a type of investment vehicle that owns and operates income-producing real estate properties, such as apartments, office buildings, and shopping centers. REITs must distribute a significant portion of their income to shareholders through dividends.
How do REITs make money?
REITs generate income through rental income from the properties they own and operate and by appreciating the property’s value.
How are REITs different from other real estate investments?
Like other securities, REITs are traded on stock exchanges and allow individual investors to participate in the ownership and profits of a diversified portfolio of real estate properties. On the other hand, traditional real estate investments typically involve direct ownership of a single property.
Are REITs a good investment?
REITs can be a good investment for those looking for income and diversification in their portfolio. However, as with any investment, it’s important to conduct thorough research and consult a financial advisor before making a decision.
Are there different types of REITs?
Yes, there are several REITs, including equity REITs, mortgage REITs, hybrid REITs, public REITs, and private REITs, each with a different focus and investment strategy.
Are REITs publicly traded?
Some REITs are publicly traded, which means they are listed on a stock exchange and can be bought and sold like other securities. Other REITs are private, which means they are not publicly traded and are typically only available to accredited investors.
Do REITs pay taxes?
REITs are required to pay taxes on their income, but they are also allowed to pass through a significant portion of their income to shareholders in the form of dividends, which are then taxed at the individual shareholder level.
Are REIT dividends taxable?
REIT dividends are generally considered taxable income for shareholders, but it’s important to consult with a tax professional to understand the tax implications of REIT investments.