What Can I Do with a Real Estate License Besides Sales?

Are you among the many that had dreams of a career in real estate sales? Did you study hard, pass the real estate exam and enthusiastically jump into real estate sales only to find that is was not for you? Here is a list of fun and profitable careers in real estate that you may not have previously considered.

Real Estate Appraiser

Real estate appraisers evaluate and determine the value of homes and land. These valuations are typically based on market values of similar properties and land in the same or closest surrounding areas. As a real estate appraiser, you may be hired by real estate investors, real estate agents or property owners interested in determining the value of property. Once the appraisal is done you collect your fee, which is typically a flat fee agreed upon between you and the client.

Title Researcher/Abstracter/Examiner

Real estate title researchers, abstracters, examiners typically work at title insurance companies and research real estate records and titles or provide summaries of titles to real estate for many different purposes. As a real estate title researcher, abstracter or examiner, your clients will hire you to prepare a legal chain of title related to property or land. You may analyze documents such as mortgages, liens, judgments, maps, agreements, etc. to determine the rightful owner of residential, commercial or land property. Compensation is typically an hourly rate or salary determined by the title insurance company.

Title Insurance Representative

Title insurance representatives sell title insurance to their clients, usually real estate agents and mortgage brokers. Keep in mind, a title insurance representative is a sales job. Much of your time is spent schmoozing your clients in exchange for orders for title insurance. In this position, your relationship with Realtors and mortgage brokers is key due to it is their clients who are ultimately purchasing your product. Title representatives are often offered a base pay plus commission on title insurance sold.

Escrow Officer

Escrow officers work for title companies and are the individuals that walk home or land purchasers through the closing process. They are a neutral third-party that conduct title researchers, prepare final paperwork and witness the document signings. Escrow officers ensure that real estate transactions are completed correctly and most importantly, legally. Escrow officers, in some states are license attorneys. Others are simply individuals who have been trained in settlement and transfer or property ownership procedures. Escrow officers are usually paid a base salary plus commission based on the sale price of the property.

Real Estate Home Stager

Real estate home stagers are the individuals that prepare a home for resale. Professional home stagers get rid of clutter, arrange furniture and in some cases assist with curb appeal in an effort to sell a home. As a home stager, your clients are typically real estate agents, investors or home owners seeking to gain a competitive edge in the marketplace. In the business of residential real estate, first impressions mean everything. As a professional home stager you may be required to rent furniture or artwork to bring in for display, When a home is professionally staged and well presented to prospective buyers, it will sell faster. Some home stagers charge and hourly rate, while others charge a flat fee.

Real Estate Property Scout

Real estate property scouts locate and evaluate real estate property and land for real estate investors. As a real estate property scout you will find, research and evaluate discounted/distressed properties and land for your clients (real estate investors). Real estate property scouts locate discounted/distressed properties via real estate agents, public property records, auctions and bank repossessions. When you have located a property that meets your investor clients' criteria, you submit a packet containing the details. When the investor decides to purchase a property that you've submitted, you are paid a finders fee/commission for locating the property.

Real Estate Referral Agent

Real estate referral agents locate buyers and sellers of real estate property and land for real estate agents. As a real estate referral agent you will spend most of your time prospecting for sellers and buyers of real estate property and/or land. When you get a client who wants to buy or sell a piece of property you refer that client to one of the real estate agents in your network to service the client. At the closing of the purchase or sale of property you, as the referral agent, are paid a commission/referral fee which can be anywhere from 20% to 30% of the real estate agents commission, which is based on the selling price of the home.

Tips and Considerations

Contact people that you know who are doing what you want to do. Ask them for an informational interview and ask lots of questions.

As a real estate professional your success depends on your ability to network and provide excellent service. Remember you could meet your next client anywhere. Always keep business cards with you and be prepared tell others about what you do.