Real estate professionals are individuals who specialize in the buying, selling, and management of properties. In today’s world, there is a wide variety of real estate positions that require different levels of expertise and knowledge. In this article, we look at several types of real estate professionals.
Commercial Real Estate Agents
A commercial real estate agent is a professional who specializes in the acquisition and sale of commercial real estate to be used for business purposes.
A commercial real estate agent acts as an intermediary between buyers and sellers and is responsible for negotiating deals, assessing market trends, analyzing financial data, and providing valuable insight into potential commercial real estate investments. Commercial real estate agents need to have strong knowledge of the commercial real estate market and a thorough understanding of the legal aspects of commercial real estate transactions.
The average base salary for a commercial real estate agent is typically between $35,000 and $120,000 a year. In addition, a commercial real estate agent may receive commission-based bonuses or commissions based on the value of their sales.
Commercial Real Estate Brokers
Commercial Real Estate Broker
A commercial real estate broker is a highly trained professional who usually works for a brokerage firm that specializes in the sale, purchase, and leasing of commercial real estate or industrial properties.
A broker working in the commercial real estate field requires a greater amount of commercial real estate experience. They help their clients find the right commercial real estate for their needs and goals, as well as advise on market trends and possibilities. Commercial real estate brokers must have extensive knowledge of the local area and its commercial real estate industry to help them identify the best investments and opportunities.
Commercial real estate professionals also need to know how to negotiate and close deals, as well as manage the financial aspects of their client’s investments.
Average commercial real estate salaries for brokers fall between $50,000 and $150,000 a year, depending on their experience and the size of their clientele.
Residential Real Estate Agent
Unlike commercial real estate agents, residential real estate agents assist buyers and sellers in the process of buying, selling, or leasing residential real estate. Residential real estate agents are licensed professionals who have completed a certain amount of training courses before becoming agents. A residential real estate agent can work independently or be employed by larger agencies.
Residential real estate agents’ salaries vary greatly depending on their experience and market conditions, but generally range from $25,000 to over $100,000 a year.
Residential Real Estate Broker
Unlike a commercial real estate broker, a residential real estate broker is a professional who helps facilitate real estate transactions between buyers and sellers, landlords, and tenants. They have typically licensed professionals with a certain number of years of experience in the field. They are responsible for providing advice and guidance to their clients, as well as helping negotiate agreements that are mutually beneficial to all parties involved. Brokers may also specialize in particular types of transactions such as commercial, residential, or investment properties.
Salaries for real estate brokers can range from $40,000 to well over $100,000 a year.
Property Manager
A property manager is responsible for the day-to-day operations of a real estate asset. They are charged with overseeing the maintenance, occupancy, and financial performance of the property to maximize returns for their clients. Property managers may work independently or for a larger firm that specializes in real estate management. This position requires a high level of organizational and communication skills, as well as the ability to work with multiple stakeholders in managing the property.
An average salary for property managers can range from $35,000 to over $100,000 per year.
Real Estate Developer
A real estate developer is a professional who works in the construction and development of new properties. They are responsible for overseeing the entire process of developing a property, from the initial conception to the completion of construction. Developers typically have a bachelor’s degree in real estate or a related field and may require additional licensing depending on their jurisdiction.
Salaries for real estate developers can range from $60,000 to more than $150,000 per year.
Real Estate Investor
A real estate investor is an individual or entity who purchases real estate to make a profit. They have typically experienced professionals in the field and may work independently or with a larger firm that specializes in real estate investments.
Investors typically look for properties that will appreciate over time and employ various strategies such as flipping houses or investing in rental properties to maximize returns.
Salaries for estate investors vary depending on the size and scope of the investments but generally range from $40,000 to over $200,000 per year.
Real Estate Appraiser
A real estate appraiser is a professional who evaluates properties to determine their estimated market value. They are typically certified professionals with a certain amount of experience in the field. Appraisers review property data, research comparable sales, and inspect properties to determine their value for various purposes such as mortgage lending or tax assessment.
A real estate appraiser can expect a pay range from $40,000 to over $100,000 per year.
Portfolio Manager
A portfolio manager in this sector is a professional responsible for managing a portfolio or group of properties. They oversee all aspects of the investment, such as acquisition, financing, management, and disposition of the assets within the portfolio. The goal of a portfolio manager is to maximize returns on investments and ensure that risks are minimized through careful planning and analysis.
Salaries for this type of professional can range between $50,000 to over $100,000 per year.
Corporate Real Estate Manager
A Corporate Estate Manager is responsible for overseeing the development and management of all property owned by a corporation. This includes planning, budgeting, and developing strategies for optimizing returns on investments.
The average corporate property manager is paid a salary of around $110K a year.
Property Tax Consultant
A property tax consultant helps clients minimize their property tax liabilities by providing tax advice based on researching local real estate laws and applicable regulations. The consultant creates a customized plan to reduce taxes through various strategies such as filing for exemptions or appealing assessments. This position requires a thorough understanding of property taxes and related laws.
A typical salary for this type of professional can range from $50,000 to over $100,000 per year.
Real Estate Investment Banker
A real estate investment banker is responsible for advising clients on their real estate investments and providing financial advice to help them maximize returns on their investments. They typically work with investors, developers, and lenders to guide in the areas of acquisitions, dispositions, refinancing, workouts, and other commercial real estate investment decisions.
The average salary for a real estate investment banker is around $120,000 per year.
Property Management Director
The property management director oversees all aspects of the management process including tenant relations, facility maintenance, budgeting, legal compliance, and marketing. This position requires strong communication and organizational skills as well as the ability to manage multiple projects at once.
Directors in this field typically earn between $80,000 and $150,000 per year.
Top Paying Industries
Real estate is an ever-expanding industry with a wide variety of lucrative and profitable sectors. From residential real estate to commercial investments, many industries offer top salaries for qualified professionals.
Some of the highest-paying sectors include investment banking, commercial real estate development, and management (in either residential or commercial real estate). These positions often require years of experience, specialized education, and a strong understanding of the residential and commercial real estate market. The salaries in these sectors can range from $90,000 – $200,000 or more per year depending on the professional’s level of expertise.
Top Paying Companies
Residential and commercial real estate are booming industries, and many top-paying companies specialize in these fields. These companies offer lucrative opportunities for real estate professionals, including high salaries and generous benefits packages.
Commercial
A commercial real estate agent has many employment opportunities. Some of the top-paying companies in commercial real estate include:
• CBRE Group Inc.: $118K/year
• Jones Lang LaSalle Inc.: $118K/year
• Colliers International: $116K/year
• Cushman & Wakefield: $111K/year
• Hines: $110K/year
• Berkadia Commercial Mortgage LLC: $109K/year
• Newmark Knight Frank: $106K/year
• Cresa Global Inc.: $105K/year
• Savills PLC: $103K
Residential
Some of the top residential companies include:
- Keller Williams Realty
- Weichert, Realtors
- Berkshire Hathaway HomeServices
- eXp Realty
- Compass
- EXIT Realty
- Sotheby’s International Realty
- Electronic Realty Associates
The National Association of Realtors (NAR)
The National Association of Realtors (NAR) is the largest trade association in the United States, representing over 1.3 million professionals. NAR provides resources for agents, brokers, and appraisers to help them succeed in the industry.
Conclusion
A real estate career is lucrative and dynamic with many options for qualified career professionals looking to maximize their earnings potential. With a wide variety of positions available, salaries can range from $50,000 to over $200,000 per year. Those looking for a career in this industry, either in the commercial real estate or residential real estate fields, should keep in mind the various educational requirements and necessary certifications to maximize their earnings potential.
Further Resources
If you are looking for further salary data relating to this industry, please visit salarycube.com.
