5 Best Paying Jobs in Real Estate
If you’re looking for the best-paying jobs in the real estate industry, you’re in the right place. Many lucrative jobs are available that can provide you with a comfortable income. You’ll never run out of opportunities as long as you know where to look.
So, we’ve researched for you, and we hope you find this helpful. Here are five of the best-paying jobs in real estate:
1. Real Estate Agent
2. Property Manager
3. Mortgage Broker
4. Home Inspector
5. Real Estate Appraiser
Let’s discuss each one of them in detail below.
Real Estate Agent
First on the list is becoming a real estate agent. Real estate agents are responsible for helping clients buy, sell, or lease properties. They work with buyers to find the perfect home and then negotiate a sales price with the seller.
Likewise, agents also work with sellers in listing their homes and market them to home buyers. For instance, agents can help sellers in staging their homes for a better chance of making a sale. And finally, they often help renters find apartments or houses to lease.
The state must approve a real estate license for you to become a real estate agent. Requirements vary by state, but most need you to take licensing classes and pass a licensing exam. Hence, check out how to get a license in your specific county and comply well.
The median annual salary for real estate agents is $48,341, according to the U.S. Bureau of Labor Statistics (BLS). But, the top 10% of agents earned more than $109,490, and the bottom 10% earned less than $23,840. So, if you love talking to buyers and sellers, you can take a shot at being a real estate agent.
Suppose you want a job that involves working with properties. But, you don’t want to involve yourself in the buying and selling. Then, property management might be a good fit for you.
Property managers are in charge of overseeing the day-to-day operations of rental properties. These properties include apartments, duplexes, or office buildings. In short, your job is to be a landlord of a specific property.
Your duties include collecting rent from tenants and maintaining the property. You’ll also deal with repair or maintenance issues as a property manager. Finally, you must also ensure that the property complies with all local laws and rules.
According to the BLS, the median annual salary for property managers is $70,030. But, the top 10% of earners made more than $93,670, while the bottom 10% earned less than $29,140. So, being a property manager might be a fit if you have a knack for managing properties.
Third on our list is becoming a mortgage broker. A mortgage broker is someone who helps people get loans to buy property. They work with various lenders and help their clients find the best possible loan terms.
Mortgage brokers earn a commission based on the loans they originate. Also, they save their client a lot of time since they often have a lot of info about lenders and repayment periods. They also know the contracts’ administrative fees or hidden costs well.
All mortgage loan brokers should have a license. You need to take the pre-licensure program by the National Mortgage Licensure System. Then, you must pass the SAFE Mortgage Loan Originator Test.
You may take these exams anytime you like; there is no need to wait for a time of year. Once done, you can start brokering mortgages after you pass it.
According to the BLS, the median annual salary for mortgage brokers is $92,262. But, the top 10% of earners made more than $119,950, while the bottom 10% earned less than $26,590. So, if you are passionate about mortgage loans and the like, you can apply for a mortgage broker.
Next on the list is becoming a home inspector. Home inspectors are responsible for inspecting homes and assessing their condition. They typically work with home buyers to help them make sure that the property they’re interested in is in good condition and doesn’t have any major defects.
Most states require home inspectors to be licensed. Requirements vary by state, but most require you to take a certain number of hours of classes and pass an exam. Once license, you can expand your network and offer your services as an individual or for brokerages.
The median annual salary for home inspectors is $61,640, according to the BLS. However, the top 10% of earners made more than $112,140, while the bottom 10% earned less than $28,610. So, if you are keen on details and passionate about good-condition homes, being a home inspector is a great choice for your career.
Real Estate Appraiser
Becoming a real estate appraiser is someone who determines the value of a piece of property. They appraise property for various reasons, such as when a property is being bought or sold.
Appraisers might work for a government body or real estate firm. Likewise, appraisers specialize in various assets, including commercial, industrial, and residential properties. It all comes down to your interests and where you can establish your best network.
Every state requires real estate appraisers to get a professional license. Although, each state has its licensing criteria. Depending on where you live, you may need to meet the basic minimal national credentials.
According to the BLS, the median annual salary for real estate appraisers is $61,340. But, the top 10% of earners made more than $118,210, while the bottom 10% earned less than $30,660. So, if you love appraising homes and properties, you can get started as a real estate appraiser.
These are a few of the best-paying jobs in real estate. If you want to start a career in this industry, many options are available. Do some research and find the perfect fit for your skills and interests.
As you look for the best-paying jobs in real estate, are you having problems sticking to a budget? You’re not alone, as we share the best payment type for sticking to a budget for young adults like you. Also, check out how to move out with no money for you to pursue your entrepreneurial endeavors as early as today.