What Jobs Require a Real Estate License?
Table of Contents
- Apartment Manager
- Commercial Property Manager
- Commercial Real Estate Agent
- Escrow Officer
- Foreclosure Specialist
- Home Inspector
- Leasing Consultant
- Loan Officer
- Property Developer
- Property Manager
- Real Estate Agent
- Real Estate Assistant
- Real Estate Appraiser
- Real Estate Attorney
- Real Estate Marketing Specialist
- Real Estate Paralegal
- Title Examiner
Apartments are buildings that typically are home to multiple people or families. An apartment manager's job is to ensure those tenants have their needs met while also assisting the property owner in maintaining the space. Apartment managers collect rent payments, track down nonpaying tenants, and handle the marketing and rental of those spaces. Apartment managers need a good understanding of real estate law from the concept of rental negotiations and marketing principles.
Most often, apartment managers work for property owners and investment firms. They may be the hands-on support that these owners need to manage their properties from a distance.
Real estate brokers typically oversee real estate agents and aid in the buying and selling of property. Brokers manage many types of property, including commercial, residential, farmlands, investment properties, and most other types. They may also provide property management services or aid commercial investors in obtaining leases for available property.
Brokers need to have a real estate license to operate in most states. That means they must complete full education and sit for a licensing exam before applying for their official state-issued license. Brokers typically have experience working as an agent but support the development of new agents under them, as well.
Commercial Property Manager
A commercial property manager's job typically entails managing the needs of tenants in commercial properties. That may include supporting owners who have commercial spaces they wish to lease. It includes marketing for prospective tenants, showing properties, and completing leasing agreements. Commercial property managers often also oversee the transformation of properties to fit into the new tenant's specific needs.
Most of these property managers work directly for leasing agencies, though in some large-scale shopping malls or multi-unit spaces, they may work solely for the property owner to provide these services. Their day-to-day services may also include handling tenant needs, collecting rent, and navigating contractual requirements.
Commercial Real Estate Agent
A commercial real estate agent may work in a brokerage aiding investors in purchasing property used for business, such as the buying and selling industrial or commercial spaces. This may include warehouses, retail space, office space, restaurant space, industrial locations, manufacturing properties, and property to be developed.
The day-to-day duties of a commercial real estate agent include marketing and showing properties to prospective buyers, working closely with potential investors to find a property to invest in, and working with sellers. Some also work to assist with the leasing of commercial spaces. They utilize data to aid in pricing and marketing while also working closely with cities for development prospects.
The job of an escrow officer is to hold money that home buyers plan to transfer to the seller during the closing process. There are several stages in which an escrow officer may work, including when an initial offer is placed on the home and when the final transaction occurs.
Escrow officers do not work for any party within the transaction but instead maintain a third-party relationship. These individuals must be comfortable with the real estate sales process.
In some areas, foreclosures are a key opportunity for investors and home buyers looking for a lower purchase price. The job of a foreclosure specialist is to work with a bank or private lender to manage the foreclosure process on their behalf. These individuals typically do the leg work to ensure all legal documentation is obtained and presented in a court of law to pursue the foreclosure process on a non-paying tenant.
The objective of a foreclosure specialist is to ensure the lender can quickly and cost-effectively sell real estate that is no longer feasible due to nonpayment.
A home inspector has a solid understanding of real estate from a brick-and-mortar standpoint. That is, a lot of their work is in understanding the condition of the property. Inspectors come to the property to provide a comprehensive oversight on its condition, including outlining potential problems that new owners may need to budget for if they go ahead with the property.
Home inspectors work for home buyers. They may also work with government agencies that need to determine the condition and state of real property within the area. They must have a strong knowledge of home systems from roofs to foundations to answer their client's questions.
The goal of a leasing consultant is to work with or for the owner to ensure the property has tenants in it. They typically work to market and screen prospective tenants for the property (including residential and commercial real estate). A key component of their job is understanding market trends and community needs to enable proper pricing strategies to keep qualified tenants in place.
Leasing consultants benefit from having a real estate license because it enables them to better understand market conditions and trends. It enables them to stay up-to-date on digital marketing best practices that may play a role in maintaining the business' financial health.
Loan officers work to help home buyers or investors secure the finances needed to purchase a property. Their goal is to facilitate the process by finding loans that borrowers qualify for to help them make the purchases they desire. Loan officers may work within banks or other financial institutions, and they also may draw up contracts for those loans, which are a critical part of the real estate purchasing process.
A property developer is someone who purchases land to develop or build on it to enhance the value. Many purchase property to develop into new homes, condos, townhomes, or commercial properties. Property developers need to have a solid understanding of the real estate environment within a community to know where potential opportunities are.
Property developers typically work with agents and brokers, attorneys, and others in the industry to complete detailed research before making investments.
Property managers oversee a leased property. That may include maintaining a residential or commercial property, meeting tenant requirements and demands, and assisting the property owner in assessing the need to develop, maintain, or enhance the property to keep it modern. Property managers may work within a larger company providing management services to numerous owners or a single individual working just for one investor.
Their job may include keeping up with maintenance duties and screening prospective tenants, advertising open space, and managing conflict between tenants. Having a good knowledge of real estate enables them to do their jobs with a long-term view of maintaining the property's value.
Real Estate Agent
A real estate agent is a person who aids buyers and sellers in the process. Having a license is a legal requirement in most states. Real estate agents must navigate the complexities of the real estate industry, including real estate law, negotiations, advertising and marketing, and sales. They must work with sellers to price and maximize earnings for the sale of their property while helping buyers obtain an affordable purchase price within their budget.
Real estate agents typically work within a brokerage. They may work with numerous residential clients, though some also maintain a commercial sales agent license.
Real Estate Assistant
Real estate assistants are very valuable to many brokerages. They provide hands-on support to enable brokers and agents to get work done within the agency. This often includes providing administrative tasks, answering the phone, gathering documentation for negotiations, and assisting clients with questions. They may also make appointments, set up listing documentation, and assist in other aspects of the real estate buying and selling process.
Real estate assistants often have a flexible set of job duties based on the needs within the organization. For example, they may help with marketing for new clients one day and help with gathering title documentation for a transaction the next.
Real Estate Appraiser
The job of a real estate appraiser is to provide insight into the value of a property based on current market conditions. Typically, this person visits a property, inspects it, gathers data from multiple resources to create a comparative analysis report, and then determines the value of that property.
These services are valuable to buyers, sellers, and lenders who need to verify the value of a property before agreeing to provide a loan to purchase it. Appraisers typically work in an appraisal office and service as third parties in the buying and selling process. Some work within government offices to provide appraisals for tax purposes as well.
Real Estate Attorney
Those with a real estate license may wish to work as an attorney in the industry. To do so, they must obtain a law degree and sit for the Bar Exam. However, having a license in the field enables these individuals to better understand the legalities, trends, and people involved in real estate, potentially helping them become better at their job.
Real estate attorneys manage titles, contracts, and conflicts related to real estate or real property. They may work in brokerages or for large commercial real estate firms. Some larger commercial organizations and brokerages have real estate holdings that benefit from an in-house attorney to manage the legal processes.
Real Estate Marketing Specialist
Many of the real estate jobs listed here have some component of marketing. Some people seem to thrive in this environment, especially if they obtain a real estate license with a marketing degree. Real estate marketing specialists work to help with the promotion of available property for purchase or rent. They also handle the marketing for the brokerage, helping to develop new clients through networking and other methods.
Real estate marketing specialists have a keen eye for maintaining modern digital marketing and offline marketing strategies. They may provide insight into branding for agents and brokerages as well. A core component of their job is lead generation, though some help with larger and higher-priced property sales marketing tasks.
Real Estate Paralegal
Those working as real estate paralegals are responsible for completing necessary tasks on behalf of a real estate attorney. They typically work with clients to answer questions or track down key data, including evidence, statements, or contracts. Paralegals do not have the same licensing requirements as lawyers but still need to understand real estate law.
Many times, real estate paralegals work in a real estate attorney's office. Some work within a brokerage to aid with tasks such as closings and contract negotiations, but they do not take the place of an attorney.
A title examiner is a professional who reviews the legal title to a property, which documents the ownership and change of hands for the real estate over several years. This person's job is to ensure the title documents are accurate, complete, and capable of being transferred during the property sale from one party to the next.
Title examiners may work with real estate brokers and agencies, but they may also work in county and state records departments. They often use data and research skills to track down changes in ownership of these properties to ensure the title is "clean" and capable of being transferred.
Real estate licenses are versatile tools that provide a wide range of skills to those who wish to work in this industry. While working as an agent is a typical role, there are many other opportunities people with this education can take on and do well with as careers. Those with a license can often pull on other skills and interests they have to thrive on their own path within the field. Real estate agents and brokers may be the first step for some, but there are various opportunities for long-term growth and development for others.