Most prospective real estate agents get their licenses in the hope of becoming agents. Unfortunately, this plan doesn’t always work for everyone. A small percentage of people get into the real estate industry and find that they hate being agents.
They may hate the stiff competition or the time it takes to build a portfolio and find clients. The more people apply for their real estate license, the more competition increases in the sector. This may mean working twice as hard to attract and maintain your clients.
Fortunately, there are many alternative careers for real estate agents if you’re thinking about a career change. These career alternatives help you change your whole career without feeling like you wasted your time and money getting a real estate license. Some alternative jobs in the real estate industry may still require you to have a license.
Below are alternative careers for real estate agents you should consider.
1. Marketing Managers
The marketing manager’s primary responsibilities include developing, implementing, and executing digital and traditional marketing for businesses. This helps to attract new clients while retaining old ones. The daily duties of a marketing manager include research, staff coordination, and management, consulting with the advertisement and media agencies about the business’s marketing strategy, and managing the marketing team.
The roles of the marketing manager will depend on the size of the business and the company’s specifications. Some managers often oversee the organization’s marketing in one area, while others are responsible for a larger region.
However, you must possess specific skills to work as a marketing manager. The required skills include:
- IT skills
- Knowledge about current social media and digital marketing trends
- Great communication skills
- Analytical and problem-solving skills
Being a marketing manager is an excellent alternative to being a real estate agent. However, the career requires one to work long hours and be on standby on holidays and weekends. Traditionally, most marketing managers worked from 9-5. But with the changes in consumer behavior, some are required to work even longer hours.
2. Assessors and Appraisers of Real Estate
There are many types of jobs in the real estate industry. Being a property appraiser is one such career. The appraiser’s job is to evaluate a property and estimate its value before it’s taxed, sold, mortgaged, insured, or developed.
As an assessor, you will assess the building and take notes of its structure. Your notes should list any structural problems on the property, such as roof issues, recent renovations, or the building’s foundation issues. You should also look at the building’s surroundings and note whether it has a park nearby, a school, noise, or a high crime rate.
You should also visit the property and analyze how it compares to other properties on the same block. Most property appraisers work for the local government on property tax appraisals.
Before becoming an appraiser, it’s essential to possess specific skills. These skills include:
- Organizational skills
- Customer service skills
- Great communication skills
- Be organized
- Time management skills
- IT and computer skills
- Analytical skills
As an appraiser or a property assessor, you will use numerous appraiser techniques that require computer systems. You will also need a well-detailed account of every property you assess within your jurisdiction. Hence, it’s essential to have all the above skills.
3. Real Estate Property Developer
There are many non-traditional real estate careers you can venture into today. And one of them is becoming a real estate developer. Property developers acquire or purchase land for investment firms or corporations.
They work closely with brokers, other developers, and the organization to negotiate a good deal on the property they’re looking to acquire. As a developer, you will be responsible for writing reports on property appraisals, statistical data, and market forecasts for the expansion of a real estate company.
Property developers can choose to become commercial, industrial developers. According to a forecast, property development is estimated to grow by 12% come 2022. The median annual salary of a property developer is $94,256, with the top ten higher-earning people pocketing over $128,000.
If you have special skills such as project management, analytical, communication, interpersonal, and problem-solving skills, you will do well in this sector. The job also requires working long hours and having great people skills as you will interact with many people and travel.
4. Loan Brokers
Another excellent career path for a real estate agent is becoming a real estate loan broker. Fortunately, it’s not difficult to become a loan broker. But you must be a good communicator, be organized, and have a passion for real estate investing.
The loan broker links the financial institutions and the real estate investor looking for a property. You will work with numerous lenders to find your client the best loan based on their needs and preferences. This means you should have a list of lenders lined up for your clients.
Hence, it’s essential to align expectations as there are numerous parties involved in the transaction. As a loan broker, most of your time will be spent communicating with lenders and real estate investors. It would help if you were a trustworthy and dependable individual as your clients trust you with an essential part of their finances.
Most of the time, your work will be giving your clients the peace of mind that you have their best interest at heart. And by giving them a good deal, you will gain customer trust and confidence in your ability. Check out this article for more information on how to become a real estate loan broker.
Now You Know the Alternative Careers for Real Estate Agents
The above are four alternative careers for real estate agents. While most people put a lot of effort and spend time getting a real estate license, not all become agents. Some often prefer other careers in the real estate industry.
If you’re looking for an alternative job for a real estate agent, ensure you check out the above positions. There are also many other jobs available in the industry you can consider.
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