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What Are Some Real Estate Careers With No License Required?

With all of the hype over the big money made in real estate in both down and especially up markets, it's not surprising that many are looking to get a piece of the pie. While real estate agents, brokers and appraisers all need to be licensed, there are other careers in the real estate industry that do not have the same licensing requirements, and some can be done on a part-time basis.

Property Management

Careers in property management are expected to increase by 8% over the next decade. Property managers generally oversee maintenance, administration and showing and leasing property. Many property managers work for management companies that manage a portfolio of smaller properties (single family homes, duplexes and complexes with fewer than 25 units), while others live onsite at larger complexes. Other property managers are employed directly by the property owners. While some property managers acquire a property management certification, it is not a legal requirement. Skills helpful in property management: business administration and operations knowledge, familiarity with real estate and rent control laws, household maintenance and great people and communication skills. Property managers also have the benefit of a guaranteed paycheck, unlike real estate agents just starting out. While property management is usually a full-time career, some property managers oversee smaller properties on a part-time basis in exchange for free rent.

Real Estate Development

Opportunities exist in both commercial and residential real estate development. According to Toll Brothers, a residential development firm, entry level careers for college graduates include assistant project manager, financial analyst, research associate. Similar positions are available in commercial development firms as well. Degrees in business administration with real estate coursework are the standard, and many in the industry start in an entry level position and work their way up. For those with real estate market savvy, an entrepreneurial spirit and access to capital, purchasing homes below market, improving and "flipping" them for a profit is an entry into real estate development on a smaller scale, but with potentially very high payout.

Real Estate Scouting

For those with knowledge of their local real estate market, scouting for properties for out of town or busy investors is an option. Scouts find properties attractive to the investors they work with and then are paid when transactions close. Sometimes this involves finding distressed properties or owners who have fallen behind on their mortgage and approaching them to see if they are willing to sell. Successful scouts build a variety of contacts and sources to find such information. Knowledge of how to recognize great deals before they are put on the market is essential. Many scouts start on a part-time basis, working their scouting business in addition to working another full-time job.



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