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If you’re looking to obtain or already have your real estate license, you’ll be happy to hear that there are plenty of lucrative and rewarding career paths for you to choose from. Whether you’re interested in sales, marketing, administrative, legal, or even a construction role, there are a variety of exciting jobs you can get with a real estate license.
Residential Resale
Residential resale refers to the selling (or re-selling) of a previously owned home. One of the most commonly known jobs you can get with a real estate license is in residential resale as either a real estate agent or REALTOR®. The difference between the two is that realtors hold a membership with the National Association of Realtors (NAR), while real estate agents do not. Membership in the NAR is an additional overhead cost for real estate licensed individuals and one to be considered when looking into this type of role.
Most people choose the residential resale path do so because there is a perceived unlimited income potential. There is a lot of potential in this career path if strong sales are made. However, there is also the potential to make nothing.
Many people also overlook the hefty overhead costs and lack of safety net that come with resale. In addition to the cost of obtaining your real estate license, you have to pay real estate broker fees ($25 - $500/month), real estate membership dues ($200+/year for REALTORS®), business expenses (varies), marketing costs ($1,000+/year), and real estate continuing education ($50 - $300/year). All of these costs add up with no guaranteed paycheck, yet many still choose this path for the earning potential.
Showing Agent
Real estate showing agents provide tours of a listed property to prospective buyers. This position may also be referred to as a showing assistant because you work under the direction of a senior agent who represents the home buyer or seller. This is the primary difference between a showing agent and a real estate agent and the reason why many choose the showing agent path to start in residential resale. For this type of position, you would need both a real estate license and a driver’s license as you may need to drive clients across your region to multiple properties in a single day.
New Home Sales
Another job you can get with a real estate license is as a new home sales consultant or new home sales assistant. Rather than selling a previously owned home or property, people who work in new home sales are responsible for the sale of newly constructed (and often luxury) homes. There is typically no overhead in this type of role as the new home builder/broker would be responsible for their own marketing and business costs.
Much like resale real estate agents, there is high earning potential in a new home sales role. Many home builders offer a base salary in addition to commission for their sales assistants or sales counselors. This allows the sales assistant some security in a steady income when home sales are down and high earning potential when sales are up.
As a new home sales consultant or assistant, you would be responsible for greeting and selling to prospects who were brought in by the builder’s marketing and outreach.
For a complete guide on new home sales careers, you can check out our article, How to Land a Job in New Home Sales and Where to Grow From There.
Commercial Real Estate
“Residential or commercial?” That’s typically the question you’ll get asked when going into a real estate career. This is because in some states, you may need a separate license to sell commercial real estate. However, in most states, the same license is required for all real estate agents regardless of property specialization or title. For more info on real estate license laws by state you can check out the article on Invest Four More here.
Commercial real estate agents deal in the sale of commercial properties such as office spaces, restaurants, healthcare facilities, hotels, and so on. These spaces are designated as “commercial” because their primary purpose is for business rather than providing a living space.
Much like residential resale, commercial real estate also has high income potential. It also has hefty overhead costs that come with the position. With commercial real estate, it may be a slower start if you don’t already have business contacts looking for commercial space and the turnaround time could be several years. However, the potential payout is what leads many people into the commercial real estate space.
Real Estate Broker
A real estate broker is an agent who continued their education to receive a Real Estate Broker’s License. Unlike real estate agents, a broker can work independently, start their own brokerage, and hire other real estate agents. This position can be viewed as a step up in the career ladder from a real estate agent. Unlike agents, however, a broker can move money in and out of an escrow account and mediate conflict in a legal dispute. Many people choose this career path as it provides more independence in the resale process, but there may be additional overhead costs involved in launching and managing your own brokerage if you choose this route.
Property Manager
A property manager is someone who manages either a residential multi-family or commercial property’s day to day leasing processes. Property managers follow landlord-tenant laws and regulations, manage maintenance requests, show prospects units, manage leasing paperwork, and collect deposits and rent from property tenants. They may also manage one or more different apartment or commercial properties in a “portfolio” (a collection of communities/properties owned by the property management company).
For a complete guide on property management careers, check out our article, How to Land a Job in Apartment Property Management and Where to Grow From There.
Transaction Coordinator
A real estate transaction coordinator assists a real estate agent or broker in the processing of a real estate transaction. They provide support with administrative tasks involved in the real estate transaction process such as preparing and submitting purchase documents, gathering information, following up on contractual items, and putting together the final broker file.
While a license is not necessary to work in this role, it is highly recommended in order to give you a greater understanding of and advantage in a transaction coordinator position. There is also an optional certification you can obtain known as the CTC or Certified Transaction Coordinator certification that can further increase your value in this type of role.
Real Estate Financial Analyst
Much like the title suggests, a real estate financial analyst provides financial analysis to support the financing, acquisition, marketing, and leasing of properties. This analysis and advice is based on economic conditions, market trends, and financial situations. In this type of position you would be constantly on top of market trends and statistics within the industry and determine the best use of cash according to a company’s goals. While a real estate license isn’t required for this role, it would help you improve your understanding of the real estate process and advance your career.
Real Estate Investor or Entrepreneur
Real estate investors or entrepreneurs purchase, manage, sell, or rent real estate for profit. A license isn’t required to become a real estate investor, only sufficient capital. However, if you are going to become an investor in any industry, it’s safe to say that you should know everything about the process so you can make more informed decisions. The primary capacity needed for this career is the ability to determine when a property is a strong investment, primarily determined based on market conditions and property prices in the area. You can either start investing on your own, or choose to work with a partner or investment group.
Real Estate Marketing Specialist
Real estate marketing specialists manage the marketing efforts of a real estate broker, builder, or group of real estate agents to improve their brand awareness and increase incoming prospects. In this type of role, you would create marketing content such as graphics, flyers, copy for social media/websites, and marketing analytics reports.
A real estate license isn’t required for this type of position but if you want to work with large brokers or builders, they might prefer candidates who are licensed. Expertise in the real estate market and industry as well as social media, web development, and design is highly recommended to grow within this career.
Real Estate Developer
A real estate license isn’t required to become a real estate developer, but considering how hands-on this role is in the building and renovating process of homes, offices, and retail centers, it’s a good idea to have a strong understanding of the real estate process. Real estate developers may work on projects for residential real estate, commercial real estate, or even industrial real estate. From planning and financing to physically building and executing projects, this is a very hands-on position that falls within the construction field. You have to be excellent at project planning and management, local laws and regulations, and local real estate trends to excel in this type of career.
Leasing Consultant
If you’re looking to grow into a property management role, a leasing consultant position is the best place to start. Much like property managers, leasing consultants are responsible for the day to day leasing and sales process for a residential multi-family or commercial property. Leasing consultants are not required to have a real estate license to start, but if you would like to grow in the role, it will eventually become beneficial to get a real estate license.
Many people choose to work as a leasing consultant part-time or in a temporary position with multi-family properties to get their foot in the door. By doing this, they gain valuable hands-on experience with different property management teams so they can land a full-time job. Real estate staffing agencies, such as JWilliams Staffing, specialize in finding and placing leasing professionals with opportunities in property management.
For a complete guide on property management careers, check out our article How to Land a Job in Apartment Property Management and Where to Grow From There.
Foreclosure Specialist
Foreclosure specialists monitor and manage the foreclosure process of residential and commercial properties reclaimed by banks or other lending institutions. A foreclosure specialist may help the homeowner, lender, or new purchaser and can either work independently or for a real estate company or bank. Foreclosure specialists are involved in every step of the foreclosure process from determining eligibility for restructured loans to being present for legal proceedings, verification of signatures, addendums, and so on. A real estate license isn’t required for this type of position, but an associate’s degree and some education in real estate lending practices and foreclosure law is expected.
Real Estate Appraiser
Real estate appraisers help to determine the value of a piece of real estate. In order to become a real estate appraiser, you would need to have earned a real estate appraiser license such as a Trainee License (AT), Residential License (AL), or Certified Residential (AR), etc. There are many different licenses available at varying levels of education within a real estate appraiser career that determine the type of property you can appraise. Each state has varying rules on the type of license or certification required to appraise properties. If you are interested in becoming a real estate appraiser, it is best to start by reviewing your state’s laws and regulations on property appraisers to determine what type of license you will need.
Real Estate Escrow Officer
An escrow officer ensures the close of escrow when someone is buying or refinancing a home. Tasks of an escrow officer may include depositing and handling escrow funds, ordering title and property related documents, keeping everyone informed on title issues and timelines, and ensuring all paperwork is signed correctly. Once the escrow officer ensures all documents have been signed and submitted and the transaction has been complete, they then disburse closing funds and submit documents for recording.
To become an escrow officer, you would need to obtain an escrow agent license. Each state has different laws and regulations regarding escrow agents and licenses so you should start by looking into your state’s escrow laws to determine what type of license you will need. Some state will only require a real estate license.
Real Estate Inspector
Real estate inspectors, otherwise known as home inspectors, inspect properties to determine if they have any structural failure, conditions that may lead to major defects (such as roof leaks), or issues that might hinder the ability to finance, occupy, or insure the home. A real estate inspector’s number one priority is safety. Like many other real estate careers, the licensing requirements may differ by state. Some states, like California, do not require a home inspector license while other states, like Nevada, do. To see if your state requires a home inspector license, you can view this map on Spectora.
Mortgage Loan Officer or Originator
A mortgage loan officer, otherwise known as a mortgage loan originator, is a licensed representative of a mortgage broker, mortgage bank, credit union, or institutional bank that helps people apply for a home loan and negotiates the terms of a home loan for a fee. Anyone who engages in the loan origination process is required to obtain a Mortgage Loan Officer (MLO) license. The Nationwide Multistate Licensing System (NMLS) manages the licensing processes for each state. To learn more about the MLO license process you can visit the NMLS website.
Real Estate Title Officer
Real estate title officers manage the presale examination of properties and real estate transactions to look for any discrepancies in the records or documents of that property prior to closing. They check all history and records of the property back to even before it was in existence to ensure nothing will adversely affect the ownership rights of the purchaser. A separate license isn’t required to start in this role. However, in order to advance in a real estate title officer position, you may need to earn certification from your local state or federal organizations such as the American Land Title Association (ALTA). The ALTA offers the National Title Professional (NTP) program and certification for those looking to advance in their title officer career. To learn more about the ALTA, you can visit their website at alta.org.
Real Estate Attorney
A real estate attorney specializes in property law and covers cases that involve the buying and selling of homes, ownership, management, compliance, disputes, and title issues. In a real estate attorney position you would prepare or review all documents that are signed at the closing of a real estate purchase to ensure the clients’ interests are met. You’ll need to obtain a license to practice law in order to become a real estate attorney.
There are many career options available to you when you obtain your real estate license that don’t require you to follow the typical residential real estate career path. Whether it’s in sales of newly constructed real estate property, an administrative role, construction, or the legal field, there are many jobs you can get with a real estate license.
