What is the Highest Paying Real Estate Job?
There are plenty of options if you’re looking for a high-paying real estate job. But before pursuing one, make sure it aligns with your interests and skill set. You can earn a six-figure salary in this career if you’re a good negotiator. Mortgage loan officers help homebuyers get financing for their homes by sourcing loans from various lenders and executing the deals themselves.
Real Estate Broker
What is the highest-paying real estate job for a real estate broker? Generally speaking, brokers who have more experience and qualifications and work at a large brokerage firm with many agents earn more than brokers who do not. In addition to a base salary, real estate brokers earn income from commissions from their supervising agents. This is a common practice in the United States.
Licensed real estate brokers must pass a qualifying examination and meet certain education requirements. Those requirements vary by state but typically include a bachelor’s degree in real estate or finance, a successful real estate internship, and passing a broker exam.
Real estate brokers can work independently or with other brokers to help buyers and sellers navigate the complex process of purchasing or selling a home or commercial property. They also have much legal responsibility when working with clients and may be involved in the negotiation process.
Real Estate Attorney
Regarding the highest-paying real estate jobs, a real estate attorney is in the top tier. They work as legal counsel to buyers and sellers but often focus on residential property or development transactions. They review real estate contracts to ensure the terms are legal and do not go against their client’s interests. They also handle closings, usually involving a mortgage lender and title company.
The lawyer’s fee will depend on how much time they spend on the transaction, their experience, and their location. For example, a simple contract revision might cost $500. They may also help with issues like title defects, which can delay or prevent a sale. They can also advise on property taxes set by local governments and based on the home’s overall value.
Real Estate Developer
A real estate developer is a professional who is responsible for developing new properties or improving existing ones. These people work for companies, governments, or private individuals who own real estate. These professionals may also manage the development of other types of real estates, such as commercial or industrial space. This career can be lucrative for those with the right skills, education, and drive to succeed.
This type of work requires a strong understanding of the local real estate market and a good grasp of technology. Additionally, developers must be able to communicate well with their clients. In addition to having a high salary, developers can expect to earn bonuses and profit sharing. These bonuses are based on their performance and often represent a large portion of a real estate developer’s overall compensation.
Real Estate Analyst
The highest-paying real estate job for a real estate analyst is an investment analyst. In this career, you analyze new property investments and advise higher-ups in a REIT on which properties will provide the best value for the company. They use sophisticated models and research to evaluate new opportunities, conduct market analysis and negotiate with companies. They also prepare reports that are presented to investment committees and executives.
Real estate analysts typically need a bachelor’s degree in economics or a related field. They must also know real estate laws unique to different countries and states. Compensation in the real estate industry grew fastest from 2020 to 2021, a rebound from the slow growth experienced in 2020. As a result, early career professionals can expect to earn in the high 5-figures to low 6-figures.