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Real estate investment trusts (REIT) are public shareholding companies that mainly invest in real estate projects. They tend to offer handsome dividends; however, their performance varies with the prevailing economic conditions. Best paying jobs in real estate investment trusts will be quite different from industry to industry and location to location. However, there are several common job categories in REITs.
REITs require the services of professional accountants to maintain their financial records and ensure that all filings are made in a timely manner. Accountants, particularly those with knowledge of real estate-related transactions and investments, should have good prospects for jobs in this industry. Moreover, being able to meet strict deadlines and work under pressure will be advantageous in this industry.
Senior managers are responsible for planning, organizing, directing, and controlling the activities of REITs. Given the complexities of the real estate investment business, senior managers in this industry should have an in-depth knowledge of their respective sectors to function effectively. This industry also requires managers who have a good understanding of the local markets, so fluency in a second language might be advantageous for some jobs.
REITs need human resource professionals to oversee their hiring activities and benefit programs. The best-paying jobs in this sector will require an HR professional with knowledge of labor laws and other employment regulations, as well as certifications in HR practices. Alternatively, HR professionals with a background in sales might find better opportunities in this sector because of the need to build client relationships.
REITs depend on information technology (IT) to ensure that all their activities are backed by efficient systems and communications capabilities. IT professionals in this industry need to be proficient at installing, configuring, and troubleshooting computer hardware and software. Professionals with knowledge of the real estate business may also have good prospects for jobs because IT professionals are often expected to recommend new tools and technologies that can improve operations.
REITs depend on their customers to generate revenue, so customer service professionals are critical to the success of this industry. Customer service representatives should have good communication and interpersonal skills to ensure that interactions with clients run smoothly. The best-paying jobs in this sector will require at least a high school diploma or equivalent qualification level, along with a certification in relevant fields such as customer relationship management.
REITs are governed by strict legal requirements, so they need expert legal counsel to ensure that operations are in compliance with the law. Lawyers with knowledge of real estate-related laws will have good prospects for jobs in this industry. The best-paying jobs in this sector will require seniority and experience, along with an advanced degree such as a Juris Doctor (JD). However, lawyers with knowledge of the local markets may also have good prospects because they could be assigned to work on a local or regional basis.
REITs require marketing professionals to develop and implement strategies that will help them stay abreast of current market trends and attract new customers. Marketing professionals are expected to have knowledge in the following fields:
The best-paying jobs in this sector will require seniority and experience, along with a bachelor’s degree or higher qualification level. Marketing professionals who have knowledge of their local markets may also have good prospects because they could be assigned to work on a local or regional basis.
Real estate brokers help clients buy and sell properties, so strong knowledge of the real estate market is essential for this industry. Since buyers and sellers may be based in different countries, brokers should also have good communication skills to conduct business with people from different backgrounds. The best-paying jobs in this sector will require an advanced degree, along with certification as a real estate broker or salesperson.
REITs need arbitrators to resolve legal disputes between management and tenants. This profession requires expertise in the laws related to commercial properties, so having knowledge of these areas is beneficial for job seekers. Certification is available through the Center for Public Resources (CPR).
REITs need security personnel to make sure that operations run smoothly. Ideally, individuals interested in this career should complete basic training with local law enforcement agencies. Certification is available through private companies like the Professional Security Bureau (PSB) and others. Those interested may also wish to attend a college or university that offers specialized courses in security management.
REITs need individuals with training and certification to install and repair security systems, such as surveillance cameras and electronic locks. Individuals interested in this profession should be able to understand customer requirements and provide them with the best possible systems. Training is available through technical schools and private companies.
REITs need supply chain managers to oversee the distribution of goods throughout a company or organization. This position requires a bachelor’s degree in a relevant field, such as business administration, management information systems (MIS) or logistics/transportation. In addition, individuals interested in this career should have experience with logistics software, such as transportation management systems (TMS) and enterprise resource planning (ERP).
REITs need market research analysts to gather data on their company’s performance. A bachelor’s degree or higher qualification is required for these positions, along with knowledge of market research techniques and trends to ensure accuracy. Knowledge of specific software packages is beneficial, such as SPSS or SAS.
REITs need sales managers to manage teams that are responsible for generating revenue. Individuals interested in this position should have at least two years of experience managing a team, along with an advanced degree in business or management. An MBA is ideal, but other degrees are acceptable as well. Individuals interested in this career should also have knowledge of sales techniques and be able to present information clearly.
REITs need accountants to help maintain the company’s financial records and prepare reports for management and shareholders. The best-paying jobs in this sector will require an advanced degree, such as an MBA with a concentration in accounting. In addition, some companies may prefer individuals with professional accreditation through the Public Company Accounting Oversight Board (PCAOB) or certified public accountant status via the American Institute of Certified Public Accountants (AICPA).