The property sector encompasses a wide range of jobs, from real estate agents to investors.
This booming field also has some of the highest-paying jobs with the potential to earn a very comfortable salary. Opportunities in the property sector are varied and challenging, with lots of exciting roles in a competitive and growing industry. Narrow your search and find out the best-paid jobs in the property sector below for a rewarding career path.
1. Real estate agent
Real estate agents are the people who both sell and buy property. Agents gain a good portion of their money from commission earned from sales and leases. An agent’s commission is usually anywhere between 1 per cent and 5 per cent of the overall property sale price. The amount of money an agent can expect to make depends on their location and the housing market in that area. Top real estate agents in Australia earn figures above $150,000.
2. Property developer
Currently, the highest-paid job in the property sector is in property development, with an average salary of $114,848. Property developers purchase blocks of land to generate money. Many successful developers purchase vacant blocks in viable locations, subsidise the site, and then either sell the approved site to local builders or sell completed units or property for a generous return on investment. Expert developers aim for between 15 per cent and 20 per cent return on development costs, allowing for a good margin during the often tumultuous property market where prices can rise and fall suddenly. In addition, property developers will often have to liaise with strata managers and councils to handle permits and any potential financial risks that come with the property.
3. Marketing manager
Real estate marketing managers are responsible for establishing, promoting and maintaining their company’s brand to generate business. Residential and commercial properties need residents living and working in them to generate a profit. This is where the marketing manager fits in to draw the attention of the marketplace and turn potential buyers into tenants. Marketing managers need to have a good grasp of knowledge in the real estate field as well as be highly creative to run profitable campaigns. Successful marketing managers can expect an average income of $115,000.
4. Property valuer
Property valuers estimate the market value of a property that’s to be sold or bought. They can work with residential, commercial or industrial properties, and often have superior knowledge of the market values and trends in their local area. These skills can earn them an average income of $87,663 per annum, with more skilled or knowledgeable valuers earning a very respectable $120,000 a year.
5. Property analyst
Property analysts have seen a 3 per cent growth in salary earnings, with the average income in Australia a generous $95,634. They provide financial analysis in support of the financing, acquisition, marketing and leasing of a property. They offer professional advice to real estate companies and firms and are responsible for mitigating risks and making sure their investment portfolios are stable to help with increasing their holdings.
Property investing is becoming a popular career choice in the property sector, with shows about flipping houses attracting a lot of people to the earning potential of the role. There are several ways a person can invest in property, from short-term fix-and-flip to buying a property and renting it out to tenants for passive income.
Returns from property investment can earn someone a good income on the side, so long as they have a good understanding of investing and have a mentor who can help guide them on getting the best rental yield. To earn $1 million, a couple would need three investment properties worth $400,000 each to generate a comfortable retirement income. However, it’s not to say you can’t make a good steady yield from property investment. With the right knowledge and tools, you can make a good living from investing.
A builder is one of the most lucrative jobs in the property sector, and for a very good reason. Builders are vital to the industry and have the potential to earn a nice profit. Builders have an average salary of $115,000 and can work a variety of jobs, from maintenance to construction and project management. Generally, builders are paid more the longer they work and the more experience they have under their belt. The most important thing to consider is that a builder’s salary is largely dependent on how much work they are willing to put in. There are also different avenues builders can take to earn supplemental income.
Take your pick to earn big
For the highest-paying jobs in the property sector, you should narrow your search to the above options. While most people think of real estate agents when talking about earning potential in the property field, there are many other jobs that can earn you a good income. Many of these professions offer a fixed income, while others are commission-based. Whatever the role, the property sector offers exciting prospects that can provide a solid income depending on your area of interest and expertise.
By Ben Hugh, UTS communications student