The real estate sector has always been one of the topmost revenue-generating sectors of the market. Although it has witnessed both ups and downs in its course, it has been a great platform for investors. Real Estate Investment Trusts are a very vital component of the economy.
While talking about the US’s economy, it has been reported that REITs contribute to offering 2.4 million full-time jobs. This has given rise to an immense urge among graduates and fresher’s to inquire about beginning a career in this sector. Hence, taking that into consideration, I am going to elucidate on the aspect of career opportunities in REITs.
What Is Real Estate Investment Trust?
I am sure that you are all aware that real estate’s are immovable properties that comprise the land, the buildings, and the surrounding areas associated with that land. It can be an actual property, buildings, or housing estates. Now let us view the main topic of focus.
A real estate investment trust is any company that owns, operates, or finances commercial or revenue-generating real estate properties. Such properties could consist of offices, apartments, hospitals, hotels, etc. REITs basically create a channel of opportunities for investors to invest in and own valuable properties.
What Are The Different Types Of Real Estate Investment Trust?
To understand and step your foot in this sector requires one to be adequately educated. Thus to get an idea about the career opportunities in REITs, you need to learn about the different types of these that are present. Let us have a look at the varieties of REITs:
No kind of physical property is considered by Mortgage REITs. Rather they are more focused on making investments in mortgage-related assets. Being in a mortgage REIT deals with being in more of a financial role. Thus, one must be well acquainted with the investment factors for these kinds of REITs.
In contrast to a mortgage REIT, an Equity REIT deals with the aspects of physical properties. The physical properties are considered among its primary business stream. Hence, it is regarded as a traditional real estate company. Although a third-party organization or agent is hired for managing the assets, the property management is done by the Equity REIT itself.
If you are still bugged with the question of whether real estate investment trusts can really provide you with good career opportunities or not, take a look at some of the other REITs that are there within the asset class.
- Residential REITs – Rental properties, condominiums, and apartments are usually owned and managed by Residential REITs.
- Industrial REITs – The focus of these companies usually remain upon the industrial sector. It is also known as logistics REITs and comprises warehouses, factories, and distribution centers.
- Office REITs – Several geographic locations or specific office properties are usually considered when investments are made by Office REITs. Varying from skyscrapers to IT parks, all such properties that have been leased out to any organization or any individual are also owned and managed by these REITs.
- Healthcare REITs – Healthcare REITs generally own any kind of property determined to provide healthcare facilities. This includes hospitals, medical stores, medical offices, and even senior housings.
- Retail REITs – Real estate lands are often required by various retail establishments. Retail REITs are inclined to own such properties. These include shopping centers, malls, or other stand-alone assets.
- Hospitality REITs – Any hospitality or food and beverage outlet or property is usually owned by Hospitality REITs. Restaurants, bars, pubs, hotels, motels are included among them.
Is Real Estate Investment Trusts A Good Career Path?
Most of the professionals that we see in the real estate industry today had begun their careers at different stages of their lives. These publicly traded companies offer diverse career opportunities and are constantly recruiting high-potential talents.
The reasons why people choose real estate investment trusts as a career path are various. The urge to engage in public issues and shaping the environment is quite exciting for some. Since this is one of the topmost growing sectors, taking a chance to set your foot in this market can lead you to be a pioneer in the industry.
REITs can prove to be a significant career path if you are keen enough to learn more and grab opportunities coming along your way. Let us have a look at some of the reasons to understand if it is really a good career path or not:
- Real estate is always in demand.
- Real estate is durable.
- To provide ideas and conceptualize into building something new.
- Offers entrepreneurial opportunities.
- Real estate offers several challenges.
- Real estate offers to build a huge networking channel.
What Are The Best Paying Jobs In Real Estate Investment Trusts?
If you are still doubtful about the type of career you can make in real estate investment trusts, then you should definitely have an overview of some of the best-paying jobs that are available in this sector.
There are various distinctions or job roles that need to be performed, such as customer relations, back-office operations, and more. Let us have a thorough look through the job market now:
Property management is one of the most interesting jobs that one can have. It basically deals with the day-to-day management and maintenance operations of a property.
The responsibility involves leasing, repairs, collecting rents, and so on. There is no specific educational background that is required to be eligible for such a position.
Also known as portfolio management, it is a department that asks for various functions to be performed.
The responsibilities involve operating, analyzing, predicting, and managing their portfolios. It is more of a financial role and has room for acquiring high incomes.
The development department of this sector, also known as project management, is responsible for formulating and developing new properties from the base level.
For the functioning of the property development, the management requires heavy functions to be performed along with other functions.
Often regarded as the backbone of real estate investment trusts, the business research team is responsible for monitoring, analyzing, identifying the market opportunities.
The information provided by them will help in ensuring proper deals to elevate the value of REITs. Working in such a department can provide you with various other opportunities such as business consultancy, business process re-engineering, and so on.
Is real estate investment trust actually a good career path? I am sure you have found the answer to your question. Yes, indeed, it is a great career path. As it has one of the fastest-growing markets, the opportunities available are unending.
The world is always in need of better infrastructures and assets or properties. Hence, whether it is a pandemic or not, there is no way this industry would ever wear out. Set your foot in the world of real estate today, and very soon, you will be flourishing in life with shining colors.