Real Estate Career Paths: What Are the Best Paying Jobs?
How many jobs are available in real estate? According to the US Bureau of Labor Statistics, there were more than half a million jobs in 2021 for real estate brokers and sales agents alone.
But the real estate industry is so much larger than that.
There are a variety of career paths in real estate that go beyond direct involvement in real estate sales – something for everyone. Income runs the gamut, but in this article, we'll focus specifically on the best-paying careers in real estate after the overview.
Types of Real Estate Jobs
Careers in the real estate industry can often be attained with post-secondary licensing rather than a college degree, so in many cases, you can be on your way within the year.
Below, you'll find various types of real estate jobs. It's by no means a comprehensive list, but it's an excellent place to start.
Real Estate Agents or Associate Brokers
Real estate agents (or brokers) facilitate the sale of real estate – in most cases, they focus on residential property.
In most states, the professionals actively involved in the marketing, negotiation, and transaction are called sales agents, but in a few states, this first level of licensing is labeled "broker." Even real estate professionals with a more advanced level of licensing may choose to actively participate in sales and take commission. These individuals are typically referred to as Associate Brokers.
The median income of sales agents and associate brokers is $45,119 a year.
Managing Brokers
Managing brokers either own or participate in the daily operation of a real estate brokerage. They're allowed to handle commissions and escrow accounts, but they also have legal responsibility for the agents and associate brokers under their supervision.
The median salary for managing brokers is $77,419 a year.
Property Managers
Property managers act as the go-between for property owners and the entities that lease their property, whether those are individuals renting a residence or businesses renting commercial space.
They handle the daily business of leveraging the property for income – finding lessees, collecting rent, arranging maintenance, and handling evictions.
The median national income for a residential property manager is $70,800 a year.
Leasing Consultants
Leasing consultants – also called leasing agents or sometimes leasing managers – work for property management firms and do the footwork of the business. As a result, this job is often considered a gateway to learning the industry.
Residential leasing consultants have a median annual income of $32,829.
Real Estate Appraisers
Real estate appraisers assess a property's condition and nearby property values to create an objective estimate of a property's value. Mortgage companies often require professional appraisals to ensure that a property's price aligns with its market value.
Residential appraisers have a median income of $57,444 a year.
Home Inspectors
Home inspectors assess a property as well, but they're looking at the condition of the house for health and safety issues or necessary repairs.
Home inspectors have a median income of $54,578 a year.
Other Career Paths in Real Estate
There are a whole range of real estate career paths on the financial side, including mortgage officers, foreclosure specialists, escrow officers, and title examiners.
Other Jobs in the Real Estate Office
You may be suited for a real estate office job, even if you're not interested in getting a real estate license or similar credential.
There are a variety of necessary supporting jobs in real estate offices, including administrative roles, accounting, marketing, home staging, photography, and videography.
Best Paying Jobs in Real Estate
Since real estate careers are often commission-based, it's difficult to predict how much you can make in any given job. For example, it's possible to make six figures as a residential real estate agent, but most agents make far less. There are many factors that play into your earnings potential in most roles, including location, hustle, niche, and contract terms.
Reliably high-paying real estate jobs typically involve a college education or greater. For example, the median salary for a real estate attorney is $159,924, but it requires 7 years of higher education.
Commercial real estate careers are another instance. While many of the jobs in commercial real estate are analogous to the residential version, breaking in isn't as simple as choosing a commercial specialty. They're among the most high-paying jobs in real estate, but they typically require more education.
For example, residential real estate agents only need pre-license training to break into the field, but commercial real estate agents need a college degree in business, finance, or a related field, which is a six-month commitment versus a 4-year one.
In virtually every role, commercial real estate requires more knowledge of finance, legal complexities, building codes, and various technical considerations.
And yet, commercial real estate career paths are well worth it when you consider the median yearly income:
- Commercial real estate brokers: $107,196
- Commercial real estate appraisers: $89,134
- Commercial leasing managers: $123,179
- Commercial property managers: $95,514
- Retail real estate managers: $138,058
Similarly, real estate development careers also require a bachelor's degree at minimum but have median incomes in the six figures.
Interested in Working in Real Estate?
Ready to start one of these careers in real estate? If you need a real estate license to begin your journey, we can help!
As an online training provider with over 20 years of experience, we're approved for pre-license education in many states and able to provide exam prep resources for the others.
Enroll today to get started!
