Real estate investment trusts, or REITs, are companies that own and operate income-producing real estate properties such as office buildings, apartment complexes, and shopping centers. REITs offer investors the opportunity to invest in real estate without having to directly purchase and manage properties themselves.
The real estate industry is a vast and diverse field with many different types of jobs available for those interested in pursuing a career in REITs. Some of the most common positions in REITs include:
- Property Management: According to the Bureau of Labor Statistics, there were approximately 337,000 property, real estate, and community association managers in the United States in 2020. This number is projected to grow by 5% from 2020 to 2030. In Europe, the property management industry is also growing, with a projected increase of 4.5% from 2019 to 2023. In Asia, the property management market is expected to grow at a CAGR of 10.5% from 2020 to 2025. These professionals are responsible for the day-to-day operations of the properties owned by the REIT. They handle tasks such as leasing, maintenance, and budgeting.
- Asset Management: According to a report by Zion Market Research, the global asset management market size was valued at $82.61 billion in 2019 and is projected to reach $126.32 billion by 2026, growing at a CAGR of 5.6% during the forecast period. These professionals are responsible for identifying and acquiring properties that align with the REIT’s investment strategy. They also work to maximize the value of the REIT’s existing portfolio of properties.
- Financial Analysis: According to the Bureau of Labor Statistics, there were approximately 317,500 financial analysts in the United States in 2020. This number is projected to grow by 4% from 2020 to 2030. In Europe, the financial analysis job market is also growing, with a projected increase of 3.5% from 2019 to 2023. In Asia, the financial analysis market is expected to grow at a CAGR of 7.5% from 2020 to 2025. These professionals are responsible for evaluating the financial performance of the REIT’s properties and portfolio. They use this information to make recommendations for improving the REIT’s financial performance.
To take advantage of the opportunities in REITs, individuals should start by gaining a strong understanding of the industry. This can be done by obtaining a degree in real estate, finance, or a related field, and gaining experience through internships or entry-level positions. It’s also important to develop strong analytical, communication, and problem-solving skills. Joining professional organizations like National Association of Real Estate Investment Trusts (NAREIT) and networking with industry professionals can also help to open up new opportunities.
In conclusion, the real estate industry offers a wide range of job opportunities for those interested in REITs, from property management to financial analysis. According to the statistics, the job market for these positions are expected to grow in the coming years in the United States, Europe and Asia. To take advantage of these opportunities, individuals should gain a strong understanding of the industry and develop the skills and experience needed to succeed in the field.