Real estate agents market homes for sale and represent potential home buyers in return for a commission. In order to work as a realtor, you’ve got to be licensed. At the same time, there are millions of people that work with residential and commercial properties, but they aren’t, nor do they aspire to be, a realtor. Professionals who have completed online MBA programs, brokers, property developers, and landlords are all involved in real estate, and most make a pretty tidy sum. Here are some ways for you to become a real estate professional without having to be trained to become a realtor.
Work in Finance
The majority of homebuyers aren’t prepared to write a cashier’s check for the total purchase price on the spot. Instead, they must finance via lenders through mortgages. This requires their credit ratings to be fair and their payment histories to be stable. You might want to use your online MBA degree to underwrite home purchase loans or even work alongside realtors helping to get their clients creditworthy. Either way, you can use your background in finance to be a part of the real estate market. Become an appraiser if you want to analyze the value of a property or work as a broker seeing over real estate purchases.
Become a Landlord
If you have enough money to buy property of any kind, you can rent it out and be a full-time landlord. Commercial properties can be rented to business owners who need storefronts and office space. Residential landlords can rent out apartments to groups of college students, houses to families, or even run boarding houses. Many landlords also have daytime jobs and there is no requirement for them to be licensed real estate agents. If you are left property by a deceased relative or just manage to acquire extra property, being a landlord is a wonderful way of bringing in extra cash. Owning and renting out property is also a guaranteed means of bringing in passive income. In your golden years you can continue to be a landlord with little to no effort if you use a property management firm.
Run a Real Estate Based Business
Do you know how to fix up properties and sell them fast? No online MBA degree is needed to become a property flipper. There are also real estate businesses that teach others how to get into the industry. If you know investors, are good at locating inexpensive real estate, or have another viable real estate business idea, have at it. Right now, it is a seller’s market so get into the industry while the ceiling is still low.
Being a real estate agent has its perks, but not all people involved in the property market have any interest in being realtors. Use what you know about real estate, business, or finance to further your success. Go for what you know and propel yourself upward in your real estate career. Besides, if you meet a hard working realtor, then together you can share leads and make a truly dynamic team together.