The real estate industry has seen a boom in recent years. This has obviously arrived as good news for REITs. And that’s why so many people want to start a career in the field. And that’s why many are asking us how many jobs are available in real estate investment trusts.
We have some excellent news for those seeking a career in the field. There are plenty of jobs available in real estate investment trusts. Real estate investment trusts had 3.2 million FTE jobs available in 2021. Before we discuss them in more detail, let’s talk a little about the industry.
If you’re looking to start a career in that direction, you have come to the right place. Without further ado, let’s dive in!
What Are Real Estate Investment Trusts?
Some companies manage all the real estate we see around. Be it hospitals, shopping malls, or commercial buildings. It is the real estate investment trusts that own and manage these properties.
These companies, in turn, trade these properties to earn money. People have been investing in real estate to expand their passive income for a long while. Many believe it to be a safe investment with minimal risk.
Also, Recent trends in US REITs have been full of growth, with a 15% climb to reach a record $19.9 billion in Q3 of 2022.
That’s why the demand for professionals in the field is always there. It is also an industry that allows for unlimited high-paying potential. Naturally, many consider it to be a good career path.
Now, let’s take a look at how many jobs are available in real estate investment trusts.
How Many Jobs Are Available in Real Estate Investment Trusts?
The number of real-estate investment trusts in the United States has been more or less the same in recent years. Currently, there are around 220 REITs in the United States. Naturally, the industry has a lot of jobs in different roles for you to apply for.
- Just in 2021, REITs employed a whopping 307,000 people who managed to earn a combined $22.7 billion of labor.
- In the same year, REITs contributed in some way to 3.2 million FTE jobs and nearly $230 billion of labor income.
- As of July 2022, there are around 326,000 jobs available in real estate investment trusts.
- In addition, a massive 3.4 million FTE jobs are indirectly related to REITs.
Now that we know how many jobs are available in real estate investment trusts let’s take a quick look at the most common jobs in the field.
Most Common Jobs in Real Estate Investment Trusts
Every industry has some jobs that are easy to get in. In most cases, these jobs are the easiest to land. At the same time, they provide the massive potential for income if one is willing to learn and grow. Here are some high-paying and common jobs in REITs in the USA:
1. Real Estate Broker
Currently, there are over 150,000 people employed as Real Estate Brokers in the USA. An average of 54,800 openings are projected each year for this role. Furthermore, the average annual pay for this role in the United States stands at $62,000.
2. Property Manager
There are around 117,000 property managers employed in the USA currently. Every year, 33,000 openings are projected for this role in the United States. The average annual pay for a Property Manager in the USA is $59,230.
3. Real Estate Property Appraiser
This is another one of the best-paying jobs in real estate investment trusts. Every year, around 7,000 openings are projected for this role. The average annual pay for this role in the United States stands at $61,340. And currently, there are around 33,000 Property Appraisers employed in the country.
4. Real Estate Sales Agent
The employment of Real Estate Sales Agents is projected to grow by 5% between 2021 and 2031. The hourly median pay for this role stands at $23.45, which translates to over $60,000 per annum.
Looking at the annual pay on offer, building a career in the industry seems even more appealing, doesn’t it? So, without further ado, let’s talk about some skills that every role in the industry needs you to have.
Skills Required to Land a Job in Real Estate Investment Trusts
A career in REITs offers a diverse set of jobs. First of all, there is a bunch of soft skills that you will need to have. These include customer service skills, listening skills, and good communication skills as a whole.
Apart from these skills, a Bachelor’s Degree in Finance, Economics, or a related field can help you start high. But a lack of such advanced degrees can in no way hamper your chances of a good career in real estate investment trusts.
Because above all, being successful in the field requires dedication and a commitment to continuous learning. If you know how to be persuasive and are articulate enough to convert your ideas into words, success will be waiting for you in this industry.
Also, waiting for you will be a hefty paycheck with your name on it!
A career in real estate investment trusts has a lot of benefits. First of all, the potential for income is seemingly unlimited. Yes, if you have the right skills and are willing to learn, the field offers so much in terms of pay and career growth.
As you saw, the industry has some of the highest-paying jobs. Some of these roles can also take your earnings well into the six-figure mark. So, do you think you’ve got what it takes for a REIT career? If you do, now’s the time to update your resume and write an impressive cover letter.
Hope you found this article helpful. And we believe you clearly know how many jobs are available in real estate investment trusts.
Also, we wish you Happy Job hunting!