Exploring a Roundup of Commercial Real Estate Jobs
Specializes in providing actionable insights into the commercial real estate space for investors, brokers, lessors, and lessees. He covers quarterly market data reports, investment strategies, how-to guides, and top-down perspectives on market movements.
We’re walking into the New Year with a new attitude, and part of that is expanding how we approach the big world of commercial real estate. You see, the assumption in many real estate circles is that everyone wants to be an investor.
That’s certainly a great goal, and we’re happy to talk with other investors all day long. We love going over data, locations, market trends, but that doesn’t mean that the attention should always be on real estate investing.
In fact, there are several commercial real estate jobs that we thought we’d cover today. Being your own boss, setting your own hours, and working completely on commission is great, but sometimes you want to have benefits and a set schedule.
That’s where this roundup comes in: we wanted to highlight other types of jobs to explore within the CRE world, to honor other dreams than just real estate investing.
Let’s dive right in and cover some of the more interesting and overlooked jobs out there.
The Commercial Real Estate Appraiser
A commercial real estate appraisal is a pretty heavy document. Not only is it admissible as evidence in the event of legal disputes, but licensed appraisers are considered expert witnesses! Sure, you probably won’t be an extra in a John Grisham book anytime soon, but you can become a commercial real estate appraiser.
The appraiser’s job is to use as much data as possible to determine the real value of a commercial property. This isn’t just location; it goes so much deeper than that. It’s about the size of the building, the income-producing opportunities, and even the market itself.
State requirements vary, but be prepared to demonstrate education, training, passing several courses, and also serving as an apprentice under an experienced and fully licensed appraiser. Once you have demonstrated proficiency under supervision, you’ll be on your way to being an appraiser on your own.
The Property Manager
We can’t talk about commercial real estate jobs without highlighting the opportunity to become a property manager. The sheer diversity of commercial properties means that you can really specialize or go as general as you would like.
Property owners are looking for managers that understand how to look at financial statements, plan ahead for emergencies, and manage repair work with ease. Making the owner’s life easier will always make your life easier as a property manager. As you get more and more familiar with the commercial real estate industry, you can bring that knowledge into play for investors, owners, and firms of all sizes.
The Commercial Mortgage Underwriter
The commercial mortgage underwriter has a tough job, as they have to go over all of that lovely paperwork buyers bring in order to approve a mortgage. Greenlighting financing isn’t for the faint of heart, as everything has to be in proper order before they grant you the mortgage. Taking a mortgage all the way through to clearing it for close is an important cornerstone of mortgage underwriting.
If you thought that residential mortgage underwriting was tricky, step up to the commercial property side of things. But if you’re hunting for a challenge and you have a background in analyst work, moving over to mortgage underwriting for commercial lending purposes isn’t a bad idea at all.
The Title Examiner
Don’t let this job title fool you: the title examiner is very important. Title companies rely on examiners to do the legwork in truly assuring that the property mentioned is free of encumbrances. Depending on the property’s location, this is sometimes no easy feat. If you have strong attention to detail, love to go over legalese and fight for your customers, the title examiner path is definitely something to consider.
Reaching out to a title company about opportunities is a good idea. Even if you’re not looking to change your job anytime soon, knowing what the possibilities look like is ideal.
Remember that a title search is a serious thing for the title company; they are on the hook for the consequences if they don’t get it right. Handling title disputes is stressful, so it makes a lot more sense to do as much due diligence ahead of time during the title search process. Checking for liens and other encumbrances is tricky, but some people really love the chance to play detective for a living.
Private Equity Opportunities
Private equity firms are sitting on a lot of money; over 288 billion is in play for new acquisitions in the commercial real estate market. That’s a lot of money, and that means that there are opportunities for jobs within the private equity sector as well.
Think about it: you can take the skills that you already have in analyzing deals, looking at properties, and connecting with other people in the real estate space.
Don’t discount your experiences as a smaller investor, broker, or even a tenant. We all bring unique experiences with us into the real estate world. While these jobs are going to have much more competition than others, the rewards can really pay off.
Most firms even have public job descriptions so you can see what might suit you best. For example, Bain Capital has a huge list of jobs available, and they’re a huge company that has a lot of growth opportunities.
Moving Forward
We’re sure that real estate investing isn’t going anywhere, but these commercial real estate jobs aren’t going anywhere either. If you’re interested in exploring real estate jobs around the commercial side of things, get out there and make your intentions known!
This is an industry that thrives on community outreach and networking. You don’t have to have the most perfect background ever. However, you have to have the drive to succeed, attention to detail, a desire to help others hit their goals, and determination.
The right job isn’t always going to find you. Sometimes, you have to be willing to go out there and fight for it. It is a New Year, which means that there are plenty of opportunities out there. Will you make this the best year yet? The best, as they say, is yet to come.
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