Number of Positions in Real Estate Investment Trusts: An Overview
Real Estate Investment Trusts (REITs) are businesses that manage a portfolio of properties, including commercial and residential properties. These entities provide a stable career path in the real estate industry, often less affected by industry changes.
Roles and Responsibilities
REITs manage the day-to-day operations, legalities, acquisition process, and other aspects involved in property management. Some of the best jobs in REITs include Real Estate Acquisition Specialist, Bidding and Auction Specialist, Real Estate Marketer, Market Analyst, Asset Manager, Property Appraiser, Investor Relations Manager, and Real Estate Lawyer.
Real Estate Acquisition Specialist
This role requires excellent communication and negotiating skills, and experience in sales or a related niche can be beneficial. The average salary for a Real Estate Acquisition Specialist is $80,000 annually.
Bidding and Auction Specialist
A Bidding and Auction Specialist discusses a property's value with analysts and property appraisers before an auction to ensure profitable investments. The average salary for a Bidding and Auction Specialist is $70,000 annually.
Real Estate Marketer
A Real Estate Marketer is responsible for creating and managing marketing campaigns to attract investors. They usually earn handsome commissions in the real estate market. The average salary for a Real Estate Marketer is $100,000 annually plus commissions.
Market Analyst
A Market Analyst gathers and analyzes market data to help REITs make informed investment decisions. The average salary for a Market Analyst in REITs is $80,000 annually.
Asset Manager
As an Asset Manager, one is responsible for ensuring the smooth running of properties. This role includes dealing with rental disagreements, tenant issues, and essential renovations. The average salary for an Asset Manager is $100,000 annually.
Property Appraiser
The Property Appraiser role in REITs evaluates properties and establishes their market values. This role requires constant updating with regulatory changes and industry best practices. The average salary for a Property Appraiser is $90,000 annually.
Investor Relations Manager
The Investor Relations Manager role in REITs collaborates with other departments to understand the current strategy of the business and communicates this to investors in clear terms. The average salary for an Investor Relations Manager is $90,000 annually.
Real Estate Lawyer
Real Estate Lawyers in REITs earn salaries ranging from $80,000 to $100,000 annually, with higher earnings possible in legal cases.
Educational Requirements
Educational requirements and job availability in Real Estate Investment Trusts (REITs) vary significantly by position.
Entry-level and analyst roles
Typically require a bachelor’s degree in finance, real estate, economics, or business. Relevant skills such as financial modeling, Excel proficiency, commercial property valuation, lease management, and knowledge of REIT tax regulations are highly valued.
Senior positions
Like Private Equity and Real Estate Research Analyst roles, require a BS/BA degree in finance, economics, accounting, mathematics, statistics, or related fields. A master’s degree and professional certifications like CFA are preferred, and these roles also demand 8-10 years of relevant experience and licenses including Securities Industry Essentials Exam (SIE), Series 7, and Series 66.
Some specialized real estate jobs related to REITs, like real estate appraisers or title examiners, may not require licenses or advanced degrees, but usually need knowledge of real estate law, documentation skills, and may benefit from certification or experience.
Job Availability and Career Paths
REITs offer a wide range of jobs, from entry-level analysts to high-paying executive roles, including portfolio managers, senior asset managers, acquisitions directors, and heads of development. The sector is growing globally, driven by increasing investor interest, and expanded roles beyond traditional property management, including technology, sustainability, and data analytics, which require additional specialized skills and educational backgrounds.
Job openings in REITs tend to be focused in major urban financial centers such as New York and Boston for senior research and investment management roles. Non-licensed real estate-related roles, valuable to REIT operations like title examiners and appraisers, show good pay and availability without requiring formal degrees or licenses but do demand relevant knowledge and skills that can be acquired through training or certifications.
When choosing a REIT firm to work for, research is important as it's advisable to work for well-funded and established companies rather than startups.
Investing in the real estate industry through REITs provides opportunities for individuals to take on roles such as an Investor Relations Manager, where they collaborate with different departments to communicate the business' strategy to investors. Additionally, understanding finance is crucial for roles like a Market Analyst, who gathers and analyzes market data to aid REITs in making informed investment decisions.
