Real estate is a diversified field with a wide range of careers for any property enthusiast. Some require a long study time, a maximum of four years, while others are transient causes. One benefit of real estate is that it is more flexible than many office jobs. Due to the industry’s diversity and evolving nature, choosing the right path in real estate might be overwhelming. Therefore, it would be wise to research well before venturing into this field. Here are some career options in real Estate in Kenya.
1. Real Estate Investor
A real estate investor buys property, maximizes the profits, and then sells the investment later. Unknown to many people, it is the most rewarding career in this field.
Nonetheless, there is more to it than just property transactions. To prosper as a real estate investor, you must understand where, when, and from whom to purchase the property.
Achieving your desired success in this career requires extensive research and an understanding of the real estate market. A blind investment can land you in regrettable loss of money.
Check out the following requirements to make money as a realtor investor:
- Willingness to take the risks that come with the career
- Reliable funding to purchase land or property
- You understand the tactics to identify the best property worth investment; buy-and-hold, rentals, house flipping, etc.
There are many benefits of venturing into this field.
- You can start investing with little money
- You can make a passive investment
- It is flexible and has no fixed salary; therefore, you can make as much money as you invest
2. A Realtor Agent
They assist clients in buying and selling property. It is a vast area where you can be a residential, commercial, seller’s, or buyer’s agent.
3. Residential Agent
These agents facilitate the home or residential property buying process between a seller and a buyer. The best way to earn good returns in this category is by specializing in a single line like single-family homes, condos, vacation homes, luxury homes, etc.
At the same time, you must have a license to become a realtor agent; your success depends on your client satisfaction. Furthermore, before venturing into a real estate agency career, you must structure a good lead generation strategy.
Moreover, excellent marketing skills, networking, and customer service will add to your success.
4. Commercial Realtor Agent
Commercial agents operate similarly to residential ones except that they work with the commercial real estate industry. They facilitate the sale of commercial properties instead of houses.
To succeed in the commercial sector, you need a proper analytical understanding of the market and business finance. Although this sector requires a larger capital investment, commercial realtors earn more than residential ones.
5. Real Estate Developers
Realtor developers specialize in buying vacant land and building realtor properties for sale or rent. They plan and coordinate the construction of all buildings, from single-family homes to large commercial properties.
Developers work best with these professionals to achieve their goals:
- Building Contractors
However, the law demands you have a four-year degree to become a real estate developer. You can pursue a degree in urban planning, civil engineering, architecture, etc. while it is a well-paying real estate career, your salary depends on several things as follows:
- Real estate properties you build
- The company you work for
- Period of experience
6. Real Estate Wholesalers
Wholesaling is among the quickest ways to make money in the real estate sector. Here are some ways to make money in real estate wholesaling:
- Identify idle property whose owner is interested in selling it
- Convince the owner of your interest to buy it and sign the deal
- Assess the property’s renovation and its after-repair value (ARV)
- Look for a buyer and sell your property for a profit
While wholesaling is rewarding, you should not confuse it with a fix-and-flip strategy. While house flipping involves buying distressed property and renovates it for resell, a realtor wholesaler does not.
7. Property Managers
Property managers take care of real estate properties’ physical and financial well-being. They act on behalf of real estate investors who passively invest in properties such as rental houses but hire management for them.
They cooperate with the property owners to ensure customer satisfaction; for instance, they meet the needs of all rental tenants.
Real estate law states you must have a broker’s license to run a property management firm. Moreover, the following skills will help counter competition and boost your success in the industry.
- Excellent customer service
- Managerial skills
- The ability to solve problems on the move
8. Real Estate Attorneys
These legal practitioners assist with legal procedures and disputes concerning real estate properties. They come in handy when you have problems with documentation, property transfers, property title, or any other legal issues.
Real estate lawyers are the best individuals to advise clients when ascertaining whether the property on sale is legit.
Becoming a realtor attorney requires extensive academic experience and a period of field experience. The educational process could take about six to eight years. Furthermore, you will need approximately two years of experience as a practicing lawyer in real estate.
9. Home Inspectors
They specialize in inspecting properties for any defects that might need renovations or issues that may cause disagreements between the buyer, seller, and the agencies.
The home inspection is crucial before the buyer and seller can sign any deal. They see the slightest unseen defaults in a home that the other parties might overlook.
10. Real Estate Property Appraisers
An appraiser evaluates and determines the value or worth of a commercial or residential property. A good appraiser knows how to value property according to its location, physical characteristics, and other similarities.
To get into this field, you must take an appraisal cause and apply for a license. You can choose to work independently or apply to work in large companies. However, educational background in economics and finance is an added advantage to succeed in this field.
Real estate careers are numerous and are all rewarding. However, besides academic achievement, you must have field and market experience to succeed and make money. Moreover, it is vital to research well before taking up any career.