Top Careers in Real Estate

As we discussed in an earlier post that the world of real estate is not limited to a real estate agency, likewise careers in this dynamic field are not limited to being an agent or a broker only. While brokers and agents still constitute the largest part of real estate workforce, there are many other job opportunities in this sector. Here we are going to outline the more popular of these other job positions.

Real Estate Construction & Development Related

Builders and Developers are always looking for construction managers or assistants that can help them furnish their projects in time. Construction management is a field in itself and will require one to deal productively with labor, establish and manage timeline effectively, as well as fit all other pieces of the jigsaw puzzle together such as equipment availability etc.

Ofcourse there is a heirarchy to real estate development related jobs where career normally begins as a development analyst. The analyst's job is to calculate the developers' return on investment given different construction scenarios. The analyst may take on additional roles such as market research etc.

Above the analyst in this heirarchy are project managers or "associates" as they are often called who are primarily responsible for a specific unit within devloper's portfolio of real estate projects. These project managers co-ordinate with other service providers such as architects, contractors, lawyers etc and make sure that project is completed in time. Project managers also supervise the financial analysis and report to the senior management.

The senior managerial role is taken by a Vice President in a real estate development firm. VP's are responsible for more than one project and deal with the most important and strategic issues that decide the overall fate and profitability of the project.

Real Estate Investment & Advice Related

Real Estate Advisory companies offer valuable insight and advice to real estate investors. These investors can either be institutional in nature or individual as in the case of high net worth professionals. Advisory's job is to identify the risk level of these investors and suggest properties that will yield the best returns.

Similar to the development firm, real estate advisory companies also consist of financial analysts at their base level. Here you will have to deal with issues like how the local market is moving, what tax rates are applied, what other costs are involved with the transaction, what returns are expected etc. Basically your task is to cover valuation analysis for real estate acquisition in consideration as well as performance reporting for those already acquired by the investor.

Moving up the ladder is the Portfolio Associate who will basically interact with the property manager and make sure that investor's interests are taken well care of. The associate will also take some decisions that involve a limited amount of capital such as property maintenance or enhancement.

At the top of the ladder is a Portfolio Manager who is primarily responsible for managing the entire real estate portfolio of an investor. The portfolio manager takes strategic decisions such as which properties to acquire and which to dispose of, and hence plays the vital role in appreciation of investor's equity.