How many jobs are available in real estate investment trusts?
Last Updated on March 14, 2023 by Andrew
In recent years, Real Estate Investment Trusts (REITs) have gained popularity as a form of investing. REITs are businesses that own and manage income-producing real estate assets like office buildings, apartment complexes, and shopping malls, as the name would imply. But how many positions are there in the REIT sector? Let’s delve deeper into this subject.
It’s crucial to remember that REITs are not merely real estate firms at the beginning. These are financial institutions that also make investments in real estate. As a result, the REIT sector offers a variety of work opportunities. Some of the most typical employment roles are listed below:
Property Manager: The day-to-day management of a real estate property is the responsibility of a property manager. This includes taking care of tenant problems, collecting rent, and maintaining the property.
An asset manager is in charge of overseeing a portfolio of real estate holdings. They assess market trends, choose investments, and endeavor to raise the portfolio’s value.
Real estate analyst: To find investment opportunities, a real estate analyst is charged with conducting market research and analysis. To predict investment returns and provide suggestions to senior management, they use financial models.
Accounting and Finance: To handle their finances, tax filings, and regulatory compliance, REITs need accounting and finance specialists just like any other business.
Marketing and communications specialists are also needed by REITs to market their services and brand to prospective tenants and investors.
How many jobs are available in real estate investment trusts?
The National Association of Real Estate Investment Trusts (NAREIT) estimates that 164,000 individuals in the US were employed by the REIT sector in 2020. Both direct and indirect employment are included in this. While indirect employment comprises jobs produced by businesses that offer goods and services to REITs, such as contractors, suppliers, and vendors, direct employment refers to positions created by REITs themselves.
It’s also important to note that the REIT sector is anticipated to expand in the years to come, which could lead to the creation of new job possibilities. The real estate sector has a history of enduring economic downturns, and the post-pandemic world is likely to follow this pattern. As a result, persons wishing to work in real estate may find the REIT sector to be a viable career path.
In conclusion, the REIT sector offers a variety of employment opportunities in a variety of fields, including real estate analysis, asset management, property management, accounting, finance, marketing, and communications. In the United States, the industry employed about 164,000 people in 2020, and it is anticipated to expand over the next few years. Investigating job openings in the REIT sector could be a fantastic choice if you’re thinking about a career in real estate.
FAQ
Q: What are real estate investment trusts (REITs)?
A: REITs are companies that own, operate, or finance income-producing real estate. They allow investors to invest in real estate without having to buy and manage properties themselves.
Q: How many jobs are available in REITs?
A: According to the National Association of Real Estate Investment Trusts (NAREIT), the REIT industry supported over 2 million jobs in the U.S. in 2020.
Q: What types of jobs are available in REITs?
A: Jobs in REITs span a wide range of industries, including real estate development, property management, construction, finance, and more. Some common job titles in the industry include property manager, leasing agent, asset manager, accountant, and financial analyst.
Q: Are there opportunities for growth and advancement in REIT jobs?
A: Yes, there are many opportunities for growth and advancement in REIT jobs. With experience and education, employees can advance to higher-level positions within the company or move into other areas of the industry.
Q: What education and experience are typically required for jobs in REITs?
A: Education and experience requirements vary depending on the specific job and company, but many jobs in REITs require a bachelor’s degree in a related field, such as real estate, finance, or business. Some jobs may also require additional certifications or licenses.
Q: What is the outlook for jobs in REITs?
A: The outlook for jobs in REITs is generally positive, with the industry projected to continue growing in the coming years. However, like any industry, there may be fluctuations in job availability and demand depending on economic and market conditions.
