Career Growth Opportunities for Real Estate Agents
Real estate agents work with clients who desire to sell or buy homes. They help clients to view properties and negotiate prices for the properties the clients would like to purchase. Many real estate agents enter the field with an associate's degree and a state license. After pursuing a real estate career, which may require many irregular hours, individuals may look to enter other professions that focus on properties. Some examples are provided below.
|Job Title||Median Salary (2017)*||Job Growth (2016-2026)*||Education|
|Loan Officers||$64,660||11%||Bachelor's degree|
|Property Managers (Property, Real Estate, and Community Association Managers)||$58,670||10%||Bachelor's degree|
|Appraisers and Assessors of Real Estate||$54,010||14%||Bachelor's degree|
|Architects||$78,470||4%||Bachelor's degree and internship|
Source: *U.S. Bureau of Labor Statistics (BLS)
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Real estate agents are familiar with the processes used by home buyers to secure mortgages. As such, they may consider moving into a career as a loan officer. Loan officers gather information from applicants for loans to determine whether the individual qualifies by verifying financial information provided. Then, the loan officer reviews and executes the appropriate documents. Loan officers typically have a bachelor's degree in a finance-related field and then receive on-the-job training.
Property managers take a similar role in an apartment, rental community, or commercial property as a real estate agent plays in the sale of residential real estate. A property manager will show the property to potential tenants, explain the terms of the lease, and inspect the buildings. They will contract for necessary repairs and services that are included in the lease. Property managers must be sure that the property is meeting the desired income, by ensuring that rents are paid appropriately. Most employers prefer to hire candidates with at least a bachelor's degree in finance or a related subject, and a real estate license may be required if property is to be bought or sold.
Appraisers and Assessors of Real Estate
Real estate agents are comfortable with valuing property for sale. Moving into a career as a real estate appraiser could utilize this skill. Appraisers ensure a property is the same as it is listed in legal documents by inspecting it. Then, through the use of comparable properties, they formulate an appropriate value for sale. These appraisals are then used as the basis for property buyers to obtain loans. Appraisers must have at least a bachelor's degree and be licensed by state regulatory agencies.
Real estate agents possess intimate knowledge of popular features that homebuyers desire. As such, obtaining training to become an architect in order to design homes could be a logical next step. Architects consult with clients to determine the style of building that is being sought. They then draft plans and provide cost estimates for construction. Once construction commences, the architect ensures that the building is proceeding according to plan. Becoming an architect requires the completion of a bachelor's degree in architecture and then the undertaking a paid three-year paid internship. Many states require the bachelor's degree program to be accredited by the National Architecture Accrediting Board. Upon the completion of the internship, potential architects take the Architect Registration Examination.