Uncovering Alternative Real Estate Careers – Part 2

Posted On August 27, 2024

Continuing from our previous blog on careers other than being a Realtor, we are introducing you to some of the lesser-known career paths in real estate in Canada. This part focuses on the in-house operations of the industry.

Office Manager

Behind the scenes of a bustling real estate brokerage are the office managers who keep the business running smoothly.

If you wish to work as a real estate office manager in Canada, you can expect to oversee the day-to-day operations of a brokerage. These include tasks such as managing administrative staff, coordinating marketing and advertising efforts, payrolls and other finances, and ensuring compliance with industry regulations.

Strictly speaking, a real estate license is not always required. However, having strong background experience in the industry and a knowledge of local housing markets are significant advantages.

Property Marketing Specialist

A career in real estate marketing requires the ability to develop and implement marketing campaigns to promote properties and attract potential clients.

As a property marketing specialist, you will need to leverage your knowledge of the local real estate market and buyer demographics. New-age marketing involves constant communication and branding, and being up-to-date with marketing and advertising trends, copywriting, branding, and social media, is definitely part of the essential skillset for this profile.

A marketing specialist launches advertising campaigns and creates visually appealing and informative marketing collaterals, such as digital and print advertisements, virtual tours, and social media content. For this, they will need to conduct market research and coordinate with in-house real estate agents and brokers, to ensure a unified marketing approach. Analyzing the performance of campaigns and adjusting strategies accordingly is part of the role’s responsibilities.

Though many real estate companies prefer a full-time, exclusive marketing specialist, you can choose to work as an independent contractor, too. An experienced marketing specialist can earn upwards of $100,000 a year, depending on the size of the company or the range of services they offer.

Marketing Manager

With more or less the same qualifications and job roles as a specialist, marketing managers are the go-getters of the team. They help conceptualize, create, and execute focused marketing campaigns.

There are several overlapping skill sets they share with Realtors. If you have strong sales and networking skills and a keen ability to pay attention to detail, you may find this side of marketing property appealing.

The job demands that you are comfortable and thrive in strategizing, creativity, fast-paced environments, and the back-end operations of real estate.

Duties include managing marketing channels and teams, media and market research, coordinating with advertising and media agencies, and compiling social stats and analytics reports.

Public Relations Officer

Closely aligned with the marketing specialist, a public relations officer interacts with the media and public on behalf of their company. Their primary job is to communicate a specific message and an image, usually in the form of press releases.

The job entails crafting a brand image or ‘persona’ via press releases, speeches, and articles, strategizing and organizing publicity campaigns, and managing visual content and digital communications. This is a good career opportunity if you are proficient in written and verbal communication, creativity, social media management, and interpersonal interactions.

A real estate agent who is knowledgeable about social media marketing and multimedia content management can be a good fit for this role. They can focus on a specific clientele and brand instead of selling a property. And it pays well, too.

Home Staging

As home selling becomes more competitive and user-engaging, there is a growing need to showcase your property and highlight all the advantages.

And this is where a home stager comes in. A home stager is responsible for the design and staging of properties with new or existing furniture, and the overall appearance of a listed property.

They give prospective buyers a feel for how the house will look when it’s furnished, creating the vision of a livable home, especially at Open Houses.

Home staging requires an innate skill set in interior design. In addition, liaising with real estate agents, sellers and buyers about listing information and viewing schedules, and spotlighting property features and amenities.

Staging involves elements of creative freedom, architecture, photography, furniture design, real estate, paying attention to trends and details, and being organized. Some real estate professionals do stage their listings, especially if they are gifted with an artistic eye.

However, many more depend on professional home stagers to present the property at its best – thus paving the way for more successful sales.

Real Estate Photographer/Videographer

The impact of stunning high-quality visuals on potential buyers cannot be overstated.

Professionally shot photographs and videos are effective marketing tools, that make a significant difference in generating interest, driving website traffic, and securing viewings and offers.

Real estate photographers and videographers capture visually appealing images and videos of properties for sale or rent. They need to be experts in lighting, composition, and camera techniques to showcase the best features. In addition, they need to work closely with real estate agents, brokers, and property owners to create compelling visual content that aligns with the overall marketing strategy.

To succeed as a real estate visual media specialist, you must have a robust portfolio, technical photography skills, and a deep understanding of real estate photography and media trends.

You can work as a freelancer or for a real estate company, depending on how much time you wish to invest in this career.

Real Estate Recruiter

Like every other industry, real estate needs a constant supply of talented professionals, especially agents.

If human resources is your calling, you can choose to specialize in real estate and become an exclusive real estate recruiter. Recruiters are responsible for identifying, attracting, and onboarding new agents, ensuring that brokerages have a steady pipeline of skilled professionals to serve their clients.

While a real estate license is not mandatory, having a close relationship with industry professionals with an understanding of the local market is a definite advantage.

Real Estate Analyst

Research is crucial in the real estate industry.

An analyst conducts in-depth market analysis – collects & analyzes real estate data, identifies market trends, and tracks economic indicators. They provide comprehensive market reports and feasibility studies and help their brand with factual recommendations.

In order to support decision-making processes for real estate developers, investors, lenders, and other professionals, analysts need to collaborate with professionals from related fields, such as economics and urban planning.

To become a real estate researcher, individuals typically need a bachelor’s degree in economics, finance, or a related field, along with experience in real estate. Some positions may require more advanced education, such as an MBA or a Ph.D.

Real Estate Consultant

A similar profile is that of a real estate consultant.

These consultants leverage their expertise in market analysis, feasibility studies, strategic planning, and asset management. As a real estate consultant, your understanding of the industry helps clients make informed decisions that can maximize the value of their investments.

A strong background in real estate is a pre-requisite for this role, as well as excellent analytical, communication, and problem-solving skills. You can expect an average annual salary from $65,000 to $100,000, depending on experience and services.

Real Estate Wholesaler

Another related career that relies heavily on research is real estate wholesaling.

This is a niche job where professionals identify undervalued properties, secure them under contract, and then sell those contracts to other investors for a profit. The key job requirements are a keen eye for identifying opportunities, strong negotiation skills, and the ability to handle the legal and financial aspects of real estate transactions.

This is a fast-paced venture that can be very profitable but also carries a higher degree of risk compared to some other real estate careers. If being an entrepreneur is part of your career choices, then this may be the right choice.

Property Manager

Being a Property Manager is a relatively safe career choice when compared to some of the others we have mentioned here.

Though an important part of real estate ownership, property management is often overlooked. Building a healthy relationship between the landlord and tenants rests squarely on the shoulders of the property manager.

The day-to-day operations of residential, commercial, or industrial properties demand excellent communication skills and an in-depth knowledge of the local rules and regulations. As a property manager, you ensure that the properties are well-maintained, tenants are safe & satisfied, and all legal and regulatory requirements are met.

Additional responsibilities include taking care of any maintenance and repairs, handling tenant inquiries, complaints, and lease negotiations, rent collection, maintaining financial records and coordinating with vendors, contractors, and service providers.

Many Canadian provinces require property managers to hold a real estate license. Typically, you need a bachelor’s degree in a related field, such as business or real estate, as well as relevant work experience. Strong problem-solving and organizational skills are essential for this role.

Based on the size of the property and the scope of work duties you manage, the average annual salary for a property manager in Canada can range from $45,000 to $70,000. Usually, though not always, accommodation is a perk of being a property manager.

Leasing Manager

Similar to being a property manager is leasing management.

Managing the leasing process in commercial and multi-unit residential properties, especially in Canadian metros such as Toronto and Vancouver, is a delicate but demanding career option.

As a leasing manager, you will be in charge of marketing available units, screening and qualifying prospective tenants, negotiating lease agreements, and ensuring the smooth transition of tenants in and out of the properties under your management.

A strong understanding of local real estate laws, excellent communication and customer service skills, and the ability to manage multiple tasks and deadlines simultaneously – these qualities are absolutely vital for the role.

The average annual salary for a leasing manager in Canada can range from $70,000 and upwards.

Developer, Investor and House Flipper

Though not strictly careers in the true sense of the word, there are other roles in the industry that require some seed money and a varied range of skill sets. We are including them here for the sake of a comprehensive look.

Developers

Real estate developers are, by necessity, business visionaries who transform vacant land or underutilized properties into new residential, commercial, or industrial developments. They need to be a fluid blend of market expertise, strategic planning, and financial acumen.

They are knowledgeable about real estate markets, zoning regulations, construction techniques, and financing options. Developers call upon other industry professionals such as architects, engineers, contractors, and other professionals to design and build their properties.

The profits as well as risks are very high for developers. Their successful projects make them money, but they are also prey to changing market conditions, construction delays, and regulatory hurdles.

Investors

Real estate investors buy and resell or rent out properties for profit.

Investors must possess a keen eye for market trends, property values, and renovation costs. They often use their own funds or borrow money from banks, private lenders, or other sources to fund their projects.

A keen understanding of various financing options and the risks involved are crucial skills that an investor needs to be successful.

House Flippers

A non-traditional but increasingly popular real estate role is that of a house-flipper.

As the name indicates, house flipping involves buying properties, renovating and then reselling them for a profit. This route requires a keen eye for identifying hidden opportunities (think pocket listings), a strong understanding of construction and renovation, and the ability to manage projects efficiently.

While house flipping can be lucrative when done right, it also carries a higher degree of risk. Understand the potential risks, including the financial burdens, before you venture into flipping houses.

Opportunities Galore!

And there you have it!

From the more traditional roles that you may have heard of to a few options that were unfamiliar with, the Canadian real estate industry offers a wide range of career opportunities beyond being a real estate agent.

What makes your heart sing can help you decide whether you work in property management, real estate appraisal, or recruitment. We assure you that these roles will optimize your skills, helping you achieve financial stability, and find personal fulfillment.

Real estate is full of lucrative potential opportunities and not only investments. Explore a little and find a career that aligns with your passions, whether technical, legal, or entrepreneurial.

Contact us and we would be happy to explore with you!