What are different types of real estate jobs UK?

Types of Real Estate Professionals

There are several categories of jobs under the general heading of “people who handle the sale of houses and other properties.” Most consumers are unaware of the distinctions among these roles and use the titles interchangeably - even though the legal requirements behind various titles differ. For example, review the difference between a real estate agent and a broker.

Anyone who sells real estate on behalf of the owner is a real estate agent. To practice, you must first take a training course, pass a test, and receive a license. State requirements for licenses vary. There are two levels of licensure. The initial level allows you to work as a real estate agent or real estate salesperson (the two are essentially synonyms) under the supervision of a broker.

To become a real estate broker requires the second level of licensure, awarded after a minimum period of practice as an agent, further study, and a more stringent test.

A college degree is not necessary for licensure (a high school diploma is), but having one does help with getting a job.

Real estate clerks do not need licenses, though they do need relevant experience. They maintain records and handle paperwork and other administrative duties for real estate brokerages.

There are other positions that do not differ by degree of licensure. Associate brokers, for example, are those who are licensed as brokers themselves but nonetheless work under the supervision of another broker.

“REALTOR” is a legally protected phrase owned by the National Association of REALTORS. It does not refer to a separate level of licensure, but to a member of the Association. Members must meet the high professional and ethical standards set by the association.

Other Common Real Estate Jobs

There are many positions in other fields whose work is necessary to the sale of real estate. These include appraisers, inspectors, bankers, and attorneys. Each category can include a number of different job titles.

After a building is built or renovated, an inspector comes in and ensures that the building is up to code. Some inspectors specialize in residential houses, others in commercial and other types of buildings.

Because most real estate properties are not bought for cash, bankers have processes for deciding whether to issue a loan. That process begins with an appraisal - that is, a professional estimation of the financial value of the property.

Real estate appraisers also set values for property tax purposes, for setting compensation levels in cases of seizure by eminent domain, and to assist in negotiations between buyers and sellers and renters and owners.

Real estate appraisers must be either certified or licensed, and several levels of licensure exist. After the appraiser performs his job, any of various types of loan professional takes over on the bank side of the equation, while any of several types of mortgage professionals help the buyer negotiate the process.

Loan underwriters make sure that you are able to repay a mortgage before granting approval for it. The underwriter will either approve, suspend, or turn down your mortgage application.

Licensed closing agents or closing coordinators ensure that the financial transaction proceeds properly.

Real estate lawyers make sure all legal agreements involved in the sale are properly drawn up, as well as handling any disputes about ownership.

Real estate consultants and real estate analysts help potential buyers understand how to invest in real estate in order to get a good financial return.

Real estate managers manage properties belonging to investors.

Mortgage consultants, or loan officers, advise borrowers on choosing the best mortgage and assist in helping them fill out loan applications. They make their money through commissions on the loans.

Foreclosure specialists facilitate the process when a home or property is reclaimed by a bank due to non-payment on a mortgage. They may help the homeowner, the lender, or the new buyer with procedures, or possibly all three. Foreclosure specialists usually work with banks and real estate companies.

Home Inspectors provide a professional opinion and documentation of a home, determined by a visual evaluation in addition to operational testing of the home’s elements and components to determine its current condition.

Real Estate Job Titles

Here's a list of various areas of focus with some job descriptions.

• Appraiser
• Appraisal Manager
• Real Estate Appraiser
• Licensed Real Estate Appraiser

Brokers and Agents

• Agent
• Assistant Broker
• Associate Broker
• Broker
• Closing Agent
• Closing Coordinator
• Commercial Real Estate Broker
• Director of Real Estate
• Realty Specialist
• Real Estate Agent
• Real Estate Associate
• Real Estate Clerk
• Real Estate Consultant
• Real Estate Manager
• Real Estate Specialist
• Real Estate Analyst
• Licensed Sales Consultant
• Sales Assistant

Loans Specialist

• Loan Documents Coordinator
• Loan Documents Closer
• Loan Processor
• Loan Underwriter
• Retail Loan Specialist

Mortgage Specialist

• Mortgage Advisor
• Mortgage Consultant
• Mortgage Coordinator
• Mortgage Loan Processor
• Mortgage Loan Underwriter
• Mortgage Professional
• Mortgage Specialist
• Underwriter
• Foreclosure Specialist

Inspectors

• Home Inspector
• Inspector
• Building Inspector

Other

• Real Estate Attorney
• Title Coordinator
• Title Examiner
• Marketing Coordinator

Source: Movin' on Up: Types of Jobs in Real Estate