A host of real estate related jobs are available at government and non-profit organizations. Examples of roles in this area might include business development professionals working with local developers and real estate investors to coordinate and encourage public-private partnerships; managers of real estate assets owned by these types of organizations; and real estate professionals working with investment incentive programs such as the Low Income Housing Tax Credit (LIHTC) program.
There is no standard convention for job titles in this area of real estate. Examples of titles include investment manager, real estate specialist, business development professional, project manager, director, and others.
WHERE THEY WORK
All levels of government hire real estate professionals. Economic development corporations, such as the NYCEDC, hire these types of professionals – an Economic Development Corporation in the United States is a 501(c)(3) non-profit organization whose mission is to encourage economic development in a certain area. Non-profit housing organizations, such as Utah’s UNPHC, are other common employers.
GENERAL DUTIES AND RESPONSIBILITIES
Duties and responsibilities vary depending on the specific role and organization.
Requirements vary by organization, with government roles generally having the most requirements while non-profits offer more flexibility. Also note that government positions, due to regulatory requirements around hiring, often have a longer and more arduous hiring process than do non-government organizations.
HOW MUCH DO REAL ESTATE PROFESSIONALS IN GOVERNMENT OR NON-PROFIT MAKE?
See our section on salaries in real estate for more information.
KEYS TO SUCCESS
Again, keys to success really vary depending on the role and organization. It is not uncommon for young real estate professionals to spend a few years in a non-profit or government role before moving on to successful careers in the private sector. It is also the case that veteran real estate professionals will move to non-profit organizations late in their careers as a means of giving back, sharing their knowledge, and downsizing their workload.