How many jobs are available in real estate investment trusts?
The real estate industry is growing at a high rate, which means that the real estate investment trusts are also growing. According to the Department of Labor Statistics in the United States, there has been a tremendous increase in the demand for real estate brokers and agents nationwide. Therefore, this goes ahead to indicate how the real estate investment trusts have more than enough jobs for those interested in pursuing the career.
What do real estate investment trusts mean?
Real estate investment trusts are public investment vehicles that are listed on the stock exchange. The real estate investment trust owns and governs income-generating real estate and any other related estates. Part of the real estate investment trusts include offices, resorts among other income generating platforms.
When a real estate investment trust purchases a property, the purchased property then becomes a development project and cannot be resold to potential buyers. The purchased property is converted in an income-generating avenue and is indicated as part of the real estate investment portfolio.
The main difference between real estate investment trusts and old-fashioned real estate investments is that the REIT has much better liquidity than traditional real estate. They are more focused on developing a purchased property rather than looking for ways to remodel the property to sell. This type of investment in the real estate investment trusts has attracted investors and allowed them to make real estate scale investments that are highly profitable and otherwise would not have been possible in the traditional setting.
How real estate investment trust was started and how it works
The congressmen passed the first bill on the real estate investment trust in 1960. The congressmen wanted to provide an opportunity for people to profit from the income-generating property. Congress also put in place rules to be followed when one intended to participate in the practice. The United States government has developed regulations that all the real estate investment trusts have to be modeled on mutual funds and treated as part of the internal revenue code.
Job statistics on the real estate investment trusts
The REIT organizations have created jobs in the economy as they have employed more than 274,000 employee’s on a full-time basis. In addition, the industry makes a job opening of about 2.6 million for employees who are not on a full-time basis.
The statistics indicate that the real estate industry has one of the most careers with more than enough space for those interested. The REIT has explicitly been on the rise in the past few years, promising a higher number of available jobs soon with promising higher wages as compared to other branches of the industry.
Categories of jobs available in REIT
Real estate investment trusts are one of the most practical career paths that one can pursue. However, it requires specific requirements that one has to attain before fully partaking in the activities involved in the career. The career path has promising returns to those who take the real estate path.
Here is a list of some of the available jobs in REITS
1. Real estate investments trust analyst
Analysts in REIT analyze and research new business opportunities, aid in the financial department through marketing, leasing properties, and acquiring. Through marketing, they keep track of all the social media activities and also manage the REIT websites.
2. Real estate investors
Real estate investors, in most cases, are self-employed as they mainly focus on purchasing a property that seems valuable to them, develop and cultivate them to add value than later resell at higher prices making profits.
3. Real estate agents
Real estate agents are probably the most known people in the real estate industry. They perform most of the fieldwork by approaching potential clients and convincing them to participate by buying and selling a property.
A real estate agent has the liberty to specialize in different sectors depending on their area of interest—any real estate agent must-have business information, basic finance, and good communication skills to close deals.
4. Real estate attorney
In buying and selling property, various legal issues arise that require one with the know-how in legal matters to handle them. In addition, buying and selling must follow the stipulates states regulations and meet all the legal qualifications for the transaction. A real estate attorney’s job is flexible as it is only needed when a legal framework is met.
5. Real estate sale manager
The managers are in charge of all the real estate agents’ resources in their line of duty. They supervise, assist in selling and leasing property, initiate new business strategies, and convince clients to buy property, among other duties required to run a real estate organization.
6. Property management and development
Property management involves governing other people’s property to be paid. It is one of the most paying jobs in REIT as the payment depends on how you can satisfy the customers through managing their property. In development, people work with contractors and subcontractors to give clients the best property outcomes.