Real estate offers a diverse range of career opportunities, many of which pay well. Top achievers in this field routinely earn more than $100,000 per year, depending on location and training. This field provides several career options for persons interested in investing or self-employment, some of which can be lucrative. In this post, we’ll go over a few ways to make money in the real estate market, as well as some of the highest-paying jobs in the area.
How much can you make in real estate?
Real estate employment may be found in a variety of industries and professions, such as real estate law, house inspection, and even real estate investing. Although certain jobs have higher earning potential than others, the real estate business as a whole has a high earning potential. Because your earning potential in real estate is influenced by both location and expertise, you should explore both before deciding on a certain career path.
You can work solo, in a group with other professionals, or as part of a corporation as a real estate professional. Real estate may be divided into three categories: residential, commercial, and industrial.
Real estate investing may pay off handsomely, but it also comes with a lot of risk. Look for a mentor or training programme with experience in your chosen area before you start investing in real estate, such as flipping houses. A professional can assist you in developing investing strategy.
14 high-paying real estate jobs
Real estate roles, like any other profession, pay well for applicants with more training, experience, or outcomes. Real estate agents who specialise in business or industrial properties may also earn more than those who operate in residential regions. Follow the salary links below on this list of high-paying real estate careers for the most up-to-date salary information from Indeed Salaries:
- Mortgage Loan Officer
When a person gets a mortgage, he or she works with a mortgage loan originator (MLO). An MLO is a company or someone that assists homebuyers in obtaining the best loan for their circumstances. The MLO might be a lending institution that assists you in selecting from a variety of loan choices. It might also refer to a mortgage broker who offers alternatives from a variety of lenders. A loan officer might also be the culprit.
An MLO is a person who acts as a loan officer. A potential homebuyer informs them about their financial status and the house they wish to purchase. The loan officer then explores around for other loan choices and gives the homeowner with their best recommendations. As with many other real estate careers, being a mortgage loan officer necessitates obtaining a state licence as well as national certification. The multiple credentials necessary contribute to this being one of the highest-paying real estate careers.
US average salary: $152,639
- Real Estate Attorney
A real estate attorney, often known as a real estate lawyer, is a lawyer who practises only in the field of real estate law. Apart from passing the bar exam, this need additional licence. Their role is to assist with the legal and contractual aspects of a house sale, as you might expect.
Either the seller or the buyer can use a real estate attorney. In some circumstances, the mortgage lender will also be represented by an attorney. As a result, at any one real estate closing, there might be as many as three distinct attorneys present.
A real estate lawyer has specialised expertise in the creation of real estate contracts. They’ll also look through documents given by third parties to make sure the deal is in your favour. They can also be in control of the closing process, although it’s more likely that a real estate agent would be.
US average salary: $95,701
- Real Estate Agent
Individuals who have been taught and licenced to negotiate real estate deals are referred to as real estate agents. An agent represents a buyer or seller and works to obtain them the best deal possible. From the initial viewing until the closing, they will guide you through the whole process.
Agents, as previously stated, can act for either the buyer or the seller. Buyer’s agents are real estate agents that specialise in representing purchasers. Listing agents are real estate agents that specialise in representing sellers. Many real estate agents operate as both listing and buyer’s agents on different transactions. In a situation involving relatives or close friends, an agent would only represent both sides.
Real estate agents are not paid directly. Instead, they are paid a commission, which is a percentage of the sale price of the house. In most circumstances, the commission split between the buyer’s agent and the selling agent is 2.5 percent to 3 percent. When you get commission on a property with a large sale price, it’s easy to see why this is one of the highest-paying real estate careers.
US average salary: $85,081
- Compliance Specialist
A compliance expert, often known as a compliance officer, is a professional who works for a developer or a commercial enterprise. Their role is to guarantee that all developments and transactions are lawful, and they are specialists in local legislation. If a corporation is under investigation, compliance professionals can also perform an official audit.
US average salary: $82,644
- New Home Sales Consultant
A new home sales consultant is employed by a real estate developer and is responsible for marketing newly constructed houses to potential purchasers. You’ll be in charge of delivering tours of the model houses and detailing their features. You may also need to demonstrate several floor layouts, depending on the development.
This work entails more than just sitting around waiting for folks to come in and request a viewing. Consultants should also seek out new clients, whether through networking events or recommendations. Because you’re representing your organisation, the position necessitates a high level of professionalism and social grace.
US average salary: $78,952
Real estate agents and realtors are frequently puzzled by new house purchasers. We’ve already discussed real estate agents, but what distinguishes a realtor from the rest?
A realtor, like a real estate agent, operates as a buyer or seller’s representative. They are in charge of negotiating price and other contract terms. They coordinate the closing details and assist in ensuring that the transaction runs successfully. Realtors, like real estate agents, are required by law to be licenced by the state.
In truth, all real estate agents are realtors, but not all realtors are real estate agents. The National Association of Realtors has enlisted the help of realtors (NAR). A realtor can deliver better value to a buyer or seller since they are bound by the NAR’s code of ethics, which is well-known for its strictness.
US average salary: $78,447
- Real Estate Broker
A real estate broker is a licenced real estate agent who has also received broker certification. They can accomplish anything a real estate agent can do since they’re licenced agents. This involves serving as a buyer’s agent or a seller’s agent, as well as processing paperwork and negotiating transaction details.
Brokers, on the other hand, are in charge of ensuring that real estate transactions adhere to all applicable regulations. They must ensure that all documentation is done accurately, as well as that escrow accounts and other monies are managed properly.
A broker might work for a brokerage or as an independent contractor. By law, every real estate agent must work for a broker. After that, a brokerage business ensures that the agent is abiding with all applicable regulations. In the event of a lone proprietor, the guarantee is made by the individual broker.
US average salary: $72,626
- Property Accountant
The role of a property accountant is to manage the financial aspects of real estate transactions. They may operate in a variety of settings, including residential, commercial, and industrial buildings, as well as rents and leases. To keep their records in order, most property management businesses use one or more accountants.
US average salary: $65,832
- Real Estate Investment Consultant
An individual client’s real estate investments are advised by a real estate investment consultant. They do research and analysis on possible acquisitions and building projects so that their clients may make informed financial decisions.
US average salary: $62,824
- Real Estate Appraiser
A real estate appraiser inspects properties and gives an estimate of how much they are worth. Potential investors can utilise this information, and prospective lenders can use it as part of the mortgage approval process. Appraisers who are just starting out must operate under the supervision of a qualified general appraiser. They are free to work on their own after they have received their certification.
US average salary: $62,521
As you can see, there are several career options in the real estate industry. There are several certifications available, whether you wish to negotiate transactions, evaluate property values, or supervise the lending procedure. Whatever your passions are, one of the highest paid real estate careers is sure to be a fantastic fit.