Following a career in property is not a choice you should make easily. Like any investment, buying and selling property is a high risk business. Yet there are plenty of ways you can get into property, either by buying or through other routes like estate agencies. Below, we outline three of the most popular careers in real estate.
Estate Agents
Becoming an estate agent is probably one of the most accessible ways to get into the property, particularly for those who don’t have a huge budget to get started. It is also an extremely rewarding career path for those who don’t have practical skills like construction.
The job of the estate agent is to sell a property on behalf of a client. They become the liaison between the buyer and seller, organising everything from viewings to property valuations and surveys. A good estate agent develops an encyclopaedic knowledge of the property market, particularly in their local area.
To be an estate agent there are several industry bodies a person should study and register with. They can then seek work at a local agency or one of the new online estate agents. Places like Sold.co.uk both buy and sell properties. These can be great places for people to get to know the property market, as they offer estate agency services and cash offers for people selling properties. This gives a fantastic all-around background. You can get more advice from nationalcareerservice.gov.uk.
Fix and Flip Investment
Fix and flip investment is a very hands-on approach to working in property. It involves finding a property that is available at a lower price due to its need for renovation. Fix and flip investors buy the property, then fix it up and sell it as quickly as possible at a profit. It can be an extremely lucrative way to make money.
To become a fix and flip investor, it helps to have practical skills under your belt such as construction, plumbing, or electrician skills. Labour is a main expenditure in a fix-and-flip budget and if you can do it yourself, you can save a lot of money. You can get advice on how to budget at checkatrade.com.
Aside from this, the best fix-and-flip investors have great business acumen. They can check markets, see which areas are up and coming, and strike while the iron is hot, buying in areas just as demand is picking up.
This method of buying and selling also runs well with being a full-time landlord. If you fix a property and find out yields in the area can be high, then you can switch to a rental. This lets you measure up the accumulation of value through appreciation and rental fees.
Property Manager
A property manager is a great choice for people who want to rent out properties of their own and have built experience in the field. It involves looking after rental properties on behalf of other landlords and charging a fee for the service, usually a portion of the rent. The jobs involved can be everything from screening tenants to repairs and collecting rent.
Property offers plenty of career paths and there are more than the ones listed here. Seek advice from those in the industry and get the right training.
