Listen to Rupert Grayston discuss property related jobs and how the income of these vary.
Since the real estate industry is so large, what types of work and jobs are there in the real estate industry?
Listen to Rupert Grayston from the Australian Property Institute talking about the types of property related jobs in Australia, by clicking on the video above.Property development
There are many people that make a living out of developing unimproved land into something that allows land to have buildings on it. One of the most notable is President Donald Trump who has quite successfully developed many residential apartment buildings, hotels and even golf courses. Can you name a few property developers?Real estate agency (or brokerage)
Real estate agents need to be licensed within each state in Australia and only licensed real estate agents are able to undertake the selling of someone else’s property to the public at large. While this program doesn’t help you get the licensing we have actually had estate agents do this program to advance their knowledge and skills.Leasing agents
These are people who let out properties (to tenants) on behalf of owners who want to collect the rent on the property rather than use the asset themselves for some reason. Many of the larger real estate firms now refer to “leasing agents” as being involved in the “occupier solutions area”.Property and asset managers
These are people who manage the residences or buildings on behalf of an owner in terms of dealing with the tenants’ concerns, negotiating with tradesmen to attend to problems in the building or the fixtures and fittings in the building such as the plumbing and electricity and so on. These property managers also look at the condition of the property from time to time and how the tenants are looking after the building and also a collection of the rent and whether it is being paid on time and is up-to-date.Real estate lawyers
The real estate industry is so large and so important that many lawyers make a specialty out of understanding real estate law and advising clients.Valuers (or appraisers)
Valuers are licensed so that they can give an opinion on the value of the property (or even a market rent on the property) to a variety of clients who may be interested in acquiring or renting these properties. Listen to Neil Hollingsworth
, a well-established highly regarded valuer in Victoria, Australia discuss Valuation as a job. We will talk more about the valuation profession throughout the course.Planners
The local governments are responsible for appropriate local area planning, including the zoning of properties. The planning departments of these local governments are charged with looking after the interests of the whole neighbourhood and take very seriously what can be built in the local area. Many property consultants advise property developers in dealing with these local government planners.State and federal government departments
Not only are the property sections of state and federal government departments involved in buying and selling property assets for and on behalf behalf of these governments, the governments also regulate on substantial developments and certainly get involved and the taxation implications of properties and property development. We will talk more about this area later.
Because property can require a substantial amount of money, a mortgage finance industry has developed. Aside from the direct lending that the banks and financial institutions might do for people wanting to buy property or develop property, a mortgage broking industry provides a significant number of jobs in the areas of construction finance and long-term acquisition finance.
The long period of low-interest rates, constant population growth and tax advantages for property investors has fuelled the property industry so much and has given us a buoyant industry. As such, it is important to consider how long this can actually be sustained as interest rates will eventually rise and the government is often talking about trimming back tax advantages. Read Property Industry now Australia’s biggest employer
to explore this further.
Review the most recent Avdiev report
, that lists some selected industries and average Australian remuneration that is earned. Source a similar report to this report for your country of residence.
In the comments section, share other property related jobs in your country. In your response, explain how average salaries of various property related jobs compare with your national average salary.