Real Estate Careers Overview

As you read this, more than seven million people in the United States have jobs in real estate fields such as title insurance, construction, mortgage banking, property management, real estate appraisals, brokerage and leasing, and real estate development. In addition, many are engaged in corporate real estate and in real estate lending in commercial banks, savings and loans, and insurance companies where their jobs are included in counts of jobs in the real estate sector. Over a third of the world's wealth is tied up in real estate. Real estate is collateral for mortgages and a large amount of financial assets. Of course, at present, the markets are weak in housing and real estate but this field is not going away. It is also worth recognizing how interesting jobs in real estate are. Real estate professionals are tied to the development of our society in a very direct way and participate in decisions that will shape the way we live for centuries. Work in real estate is personally rewarding, ever-changing and challenging. Take some time and consider your potential in the field of real estate.

There are Many Ways to Play the Field
One of the exciting things about real estate is that it can be approached from so many different ways. You can be a white-collar worker projecting and analyzing cash flows from new developments with spreadsheets; an agent in the field with heavy contact with customers on a day to day basis; or an entrepreneurial property owner/manager looking for undervalued real estate buys and strategies for creating value.

Multiple Entry Points Available
There are a variety of ways to break into real estate. If you are interested in the sales side you need to get licensed and should go to work for a commercial or residential broker. If you would like to get involved in property acquisition and analysis you should get a higher degree with a specialization in real estate and go to work for a major property management company. There are also many other ways to enter including through corporate site selection departments, governmental entities and banks.


Real Estate Advisory
Institutional investors are purchasing real estate more and more. But real estate is not like a stock or bond that you can buy and put in a vault. Real estate advisors help investors care for property and, more importantly, se lect property in the first place by suggesting areas and property types that are likely to experience price appreciation in the future. This job is fun and one that you can get into after getting experience in investing or property management. People who are good with statistics and excel at client contact do well in this job.

Investment Banking
Many investment banks have groups dedicated to real estate, particularly the repackaging of mortgages into residential mortgage-backed securities (MBS), collateralized mortgage obligations (CMOs) and commercial mortgage-backed securities (CMBS). Big players include Credit Suisse, Deutsche Bank and Goldman Sachs. Other popular areas include the REIT stock, bond and preferred stock origination business, lodging investment banking, principal investing in real estate and synthetic lease origination. If you have an interest in both real estate and investment banking, why not go for both areas at once?