The housing industry continues to grow in value with each passing year. In 2018, it experienced almost a $2 trillion value increase, resulting in the sector amounting to $33.3 trillion. The number is only made more shocking when bringing up that the industry’s worth used only to be $10.9 trillion in 2012.
Every progression that the housing industry makes leads to more jobs being created for the people. When the topic of careers in housing is brought up, the first thought that comes in mind is likely a real estate agent in Guelph and other parts of the country. However, there are many more careers that contribute to the success of the housing industry. Each has its own specializations that help in solving problems no other professions can fix.
We meet some of them below.
Problem #1: Asset Management
Financial investment is one of the many ways that people go about accumulating wealth outside of their careers. In the housing industry, this is accomplished by establishing a portfolio of properties, often for rental purposes.
In due time, some will find that having to juggle their careers and their investments may take up too much of their time. Such a feat may be impossible to do correctly without the aid of a trustworthy professional.
Solution: Real Estate Portfolio Manager
Rental properties come in two forms: residential and commercial. When it comes to finishing tasks for their clients, real estate portfolio managers usually have no worries handling one or the other, sometimes both.
Investors will find that a portfolio manager worth his title is capable of accomplishing all of their duties with the help of property managers. Portfolio managers are often tasked with studying the market and its values, allocating funds for property maintenance, and filing taxes for said properties. Moreover, they help structure leases in a way that draws the attention of potential tenants.
When it comes to hiring a portfolio manager, investors should take the time to find The One as a means of reducing the risk of working with an individual who is less capable than others in their field.
Problem #2: House Price
A step one must take in the process of selling their home is finding the perfect number to match what the property has to offer. Nowadays, the search can be completed with the help of credible real estate websites like Zillow. But this is one of the rare cases where the analysis of a machine is less superior than a human’s.
Solution: Appraiser
With the help of a real estate agent, homeowners can find the right appraiser and have them come in to look at the property. Unlike machines, appraisers can walk the length of the property and scope out every room. They can also collaborate with an inspector to ensure that no health or safety code is violated on the premises.
Doing the following allows them to give a more informed and detailed appraisal, considering they’ll be able to see everything that the property has to offer. It will also result in the appraiser’s number being more accurate than that of a website’s.
The success of the industry can be credited to the work of these individuals and the other professionals who diligently perform their responsibilities in real estate. Without one or the other, business in housing can stall or even fail.