Is Real Estate A Good Career Path? Top 8 Jobs

The real estate industry is a diverse field with many lucrative career paths, suited to a wide range of interests and skill sets. Whether you're passionate about residential real estate sales, coming up with marketing strategies, or the intricacies of real estate law, there’s a wealth of opportunities for you in real estate. In this comprehensive guide, we’ll explore common roles in the field, what they entail, and their earning potential. 

8 Top real estate jobs

The real estate job outlook is bright: According to the Bureau of Labor Statistics, real estate broker and sales agent employment is projected to grow 5% percent between 2021 and 2031.

Ready to explore the best option in the field? Here are the top real estate jobs that keep the market moving forward.

1. Real estate agent

A real estate agent helps people sell or buy real estate. They inform clients about the real estate market, conduct negotiations, and list and show properties. They also prepare documentation for property closing, leasing, and other contracts.   

Sales agents in real estate can make about $97,000 within a few years of starting out. You’ll need a real estate license, which requires taking state-accredited courses and passing the licensing exam, which you can do right out of high school. However, it doesn’t hurt to get a degree in business administration, finance, or marketing to improve your career outcomes. 

2. Property manager

Property managers oversee the upkeep and operations of residential or commercial rental properties like apartment buildings, office buildings, or shopping centers. Their responsibilities include listing rental properties, handling lease agreements, collecting payments from tenants, and addressing any property-related issues that may arise. 

This role typically pays around $59,000 annually. You can get hired as an entry-level property manager with just a high school diploma, but it helps to have related work experience. This could include previous roles in customer service, administration, or even working as an assistant to a property manager or in a real estate office.

3. Real estate broker

Brokers start as sales agents, then they take additional real estate courses to get a broker's license, which allows them to operate independently, manage their own real estate businesses, and oversee sales agents. They may also work for brokerage firms.

Brokers get paid through salary and commissions with an average yearly pay of around $92,000. Even though it’s not required, many brokers have college degrees in fields like business administration, marketing, finance, or something similar. This education can give you a competitive advantage in landing this job.

4. Home inspector

Home inspectors physically examine buildings (both residential and commercial properties) and report their condition to the property owners or buyers. They assess the safety and structure of buildings using their knowledge of safety code requirements. On average, they can earn a salary of just over $60,000 per year.

To qualify for this role, you’ll need a combination of education and experience. Many inspectors hold certifications or degrees in fields such as construction, engineering, architecture, or a related discipline. Specialized training or certification in areas like carpentry, plumbing, or electrical work can also greatly improve your career success as a home inspector.

5. Real estate attorney

Real estate attorneys handle the legal aspects of real estate transactions. They prepare and review legal documents relating to the sale and carry out the transfer of titles. In some cases, they also negotiate the terms and conditions, especially for large-scale commercial real estate transactions. 

The yearly pay for real estate attorneys is around $161,000 per year. To become a lawyer, you typically need to earn a bachelor's degree in a field like legal studies, history, social science, or a related discipline. After completing your undergraduate studies, you would then attend law school for three additional years to specialize in real estate law.

6. Real estate appraiser

A real estate appraiser conducts formal appraisals of properties or land to determine their market value, considering various factors and adhering to industry regulations. On average, this role offers an annual salary of approximately $65,000. 

To become a real estate appraiser, you’ll typically need to complete relevant classes and gain on-the-job training. While a college degree is not always required, you must meet state-specific requirements and pass a licensing exam. Check with your local state board for accurate and up-to-date information about how to become a real estate appraiser in your state. 

7. Mortgage loan officer

Mortgage loan officers assess whether applicants qualify for loans to buy properties. Most of them work on behalf of lenders such as banks, credit unions, mortgage companies, and other financial institutions. They commonly earn a base salary plus commissions, totaling an average of $71,000 per year. To enter this role, you must have a Mortgage Loan Originator (MLO) license. 

8. Real estate developer

A real estate developer oversees the process of developing land and properties. Their responsibilities include buying land, working with construction companies to design and build properties. They also work on selling the properties after the projects are complete. They’re usually paid around $100,000 per year. 

There is no direct path or strict requirements to becoming a real estate developer, but getting a degree in business management, civil engineering, real estate, or finance will help you get a foot in the door. 

Pros and cons of working in real estate

Just like most career paths, working in real estate has its advantages and drawbacks both for your professional and personal life. Here are a few key points to consider.

Pros of real estate careers

• Many real estate jobs allow you to be your own boss so you set your own hours and your own schedule. You can also choose to work full-time or part-time to suit your lifestyle.
• Many real estate careers offer salaries and commissions, so more hard work equals higher pay. 
• You can get most real estate jobs without a degree as long as you’re willing to learn and gain experience (in addition to earning certifications for certain roles).  

Cons of real estate careers

• Real estate careers typically work around the clock to accommodate client availability. So, you’ll likely work many evenings, weekends, and holidays.
• Real estate markets can be sensitive to economic conditions and may experience periods of volatility. These uncertainties and fluctuations can translate to an unpredictable income.

What education do you need for a career in real estate?

For better pay and a competitive edge, a college education will help you stand out in the field of real estate and help you become more successful. Here are some college majors that lend themselves to a career in real estate:

The best college majors for real estate jobs

• Finance: Finance provides you with a solid foundation for a variety of real estate careers that relate to banking, investment management, and financial markets. For example, this education can help you become a savvy real estate broker, appraiser, or mortgage loan officer.
• Real estate: Surprise! An education in the real estate business is a great option for kickstarting your career in real estate by deepening your understanding of things like real estate investment, appraisal, and applicable laws.
• Business administration: This field of study helps you develop business acumen and develop soft skills like leadership, critical thinking, and communication — all of which you’ll need to succeed in the world of real estate.
• Accounting: An education in accounting will give you a strong foundation in financial analysis, budgeting, and tax considerations, which are crucial aspects of real estate. Understanding accounting principles will also help you manage financial records, analyze investment opportunities, and make informed real estate decisions.
• Marketing: A marketing degree will give you a leg up in any real estate role involving sales such as that of a real estate agent or developer. You’ll learn skills in strategic communication, market analysis, and promotional techniques that will help you position and market properties to potential buyers or investors.

College Rover helps you find the best school for your dream career

Even though many real estate careers don’t require post-secondary education, a college degree will help you make your new career in real estate a successful one. Aside from helping you understand an industry a little better, it’s also a competitive advantage in your back pocket. 

Find the best school for the career you want with College Rover. We do the research so you don’t have to!