Less than a decade ago, people were flocking to the real estate industry. Almost every investor was recommending that you consider “flipping” properties for a profit, and many people were doing just that – some making millions. Real estate agents had nearly too much work to handle, and everyone was loving the lucrative life of selling houses.
That changed. As the real estate market began to nose-dive, investors found that they no long had ten buyers waiting in line to bid on their rehabbed properties. In fact, they had a hard time finding one buyer. Many real estate investors lost a lot of money and, as a result, real estate agents (who work mostly on commission) suffered as well.
Today, the real estate market is starting to turn around a bit in most areas, but there are still risks involved with working in this industry as a house flipper or even a real estate agent. That doesn’t mean you can’t work in real estate at all, though. Check out the following jobs in real estate that are more secure options, even when the market is down.
Property managers work n the real estate industry, but on the rental side of things rather than on the buying/selling side of things. Many landlords have multiple properties and they don’t always live in the same state as their properties. So, they hire property managers to handle all the problems that may arise with tenants, such as collecting rent, fixing leaks, taking care of yard maintenance, and issuing eviction notices. Property managers can also work doing these things at large apartment buildings or complexes, working to ensure that units are filled with good tenants as quickly as possible, as well as doing more general property management tasks.
Home staging is an important part of selling homes, especially in a market that is unfavorable for sellers. By working as a home stager, you’ll have a supply of home furnishings to essentially decorate the house, which will help potential buyers envision how the home can be functional. Home stagers typically earn a percentage of the house’s sale price, so while this is still a more secure job than flipping, there is still risk involved.
Home appraisers earn a license to help buyers and seller learn the true market value of a property. Homes are always being bought and sold, no matter what the market is like, so there will always be a need for workers in this industry. In addition, you could work for government organizations or insurance companies, appraising homes to determine tax rates and insurance policy rates. This is a career where over a third of all workers earn a six-figure salary, so it can be quite lucrative for workers.