Accounting Education
Do you have an interest in the real estate industry, or plan to invest in property in the future? Whether you are a real estate investor yourself or are looking to shift to a new career focus, real estate accounting may be a great career path.
Real estate accountants help companies record acquisitions and dispositions, monitor profit margins, create budgets, plan for capital expenditures and comply with applicable regulations and laws.
Should I become a real estate accountant?
There are certainly some promising reasons to consider entering the accounting field. Accountants are one of the few sectors that have a fulfilling and in-demand future. For one, the U.S. Bureau of Labor Statistics projects the industry to grow 5.8% through 2033, indicating job stability and a faster than average growth rate. Additionally, a recent study found that accountants and tax professionals ranked second in a poll that tracks job happiness, with 72.2 out of 100 points. This sentiment and strong outlook are the same for real estate accountants. In fact, the real estate market is expected to grow by 3.34% by 2029 said Statista. As more real estate professionals enter the market, accountants who specialize in reporting and compliance will be indispensable. If you enjoy analyzing real estate deals, have a background in real estate investing or accounting, and are looking for a career that is fulfilling and in demand, becoming a real estate accountant might be for you. How can I become a real estate accountant?
A career as a real estate accountant requires a combination of education and professional credentials. Here are three steps to take in order to start a career as a real estate accountant: Earn a bachelor’s degree in accounting Real estate accountants need an educational background. After all, you will need to understand basic accounting principles, like how to maintain a general ledger and make adjusting journal entries. However, unlike tax accountants, real estate accountants don’t always need a four-year bachelor’s degree. Some real estate accountants can excel in their positions with an associate degree or bookkeeping certification. Continue higher education Some real estate accountants will continue their education and credentialing with a master’s degree or a Certified Public Accountant (CPA) license. Although not always required, continuing your education can unlock more growth opportunities as a real estate accountant, such as being promoted to a management position quickly. Obtain relevant experience and network Since real estate accounting is industry-specific, you may want to obtain some work experience. If you are pursuing a degree, look for internships in the real estate industry. Furthermore,
networking is a crucial component of being a real estate accountant . What is the salary range for a real estate accountant?
A real estate accountant’s pay will largely depend upon where they choose to work, with independent accountants or contractors dictating their own hours and clientele, while those employed by large firms or agencies earning salaries set by their employers. The BLS estimates that the median pay for accountants is $79,880 per year or $38 per hour. However, your pay range can vary based on your experience level, educational background, and where you work. What being a real estate accountant is all about
Real estate accountants handle everything from recording acquisitions to tracking rent rolls. Here are some of the other main tasks: Recording acquisitions and disposals Monitoring capital expenditures Creating budgets and forecasts Calculating and recording depreciation Preparing financial reports and statements Maintaining compliance with regulators Real estate accountants generally work the traditional 9 to 5 hour schedule. Additionally, many real estate accountants can work remotely or on a hybrid schedule. Needed skills and competencies
Real estate accountants not only need a baseline understanding of the real estate industry but also soft skills to effectively communicate with other team members. Technical skills like
understanding general accounting principles and best practices
are crucial to excel in a career as a real estate accountant. How to make yourself stand out as a candidate for real estate accountant positions
When starting your career as a real estate accountant, it’s important to stand out from other candidates. Here are some top tips to stand out in the hiring process: Have a growing professional network Be clear about your expectations and goals Evaluate positions with logic rather than emotions Demonstrate your experience in the real estate industry Commit to lifelong learning Negotiate your terms Frequently asked questions
Do real estate accountants need a CPA license? A CPA license isn’t required to be a real estate accountant; however, it can be beneficial to earn promotions and a higher salary. Is a real estate bookkeeper the same as a real estate accountant? Real estate bookkeepers handle general ledger management, while an accountant handles more complex items, such as maintaining depreciation schedules and putting together forecasts. What accounting method do real estate accountants need to know? Generally Accepted Accounting Principles (GAAP) is the most widely used accounting method in the real estate industry.
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There are certainly some promising reasons to consider entering the accounting field. Accountants are one of the few sectors that have a fulfilling and in-demand future. For one, the U.S. Bureau of Labor Statistics projects the industry to grow 5.8% through 2033, indicating job stability and a faster than average growth rate. Additionally, a recent study found that accountants and tax professionals ranked second in a poll that tracks job happiness, with 72.2 out of 100 points. This sentiment and strong outlook are the same for real estate accountants. In fact, the real estate market is expected to grow by 3.34% by 2029 said Statista. As more real estate professionals enter the market, accountants who specialize in reporting and compliance will be indispensable. If you enjoy analyzing real estate deals, have a background in real estate investing or accounting, and are looking for a career that is fulfilling and in demand, becoming a real estate accountant might be for you. How can I become a real estate accountant?
A career as a real estate accountant requires a combination of education and professional credentials. Here are three steps to take in order to start a career as a real estate accountant: Earn a bachelor’s degree in accounting Real estate accountants need an educational background. After all, you will need to understand basic accounting principles, like how to maintain a general ledger and make adjusting journal entries. However, unlike tax accountants, real estate accountants don’t always need a four-year bachelor’s degree. Some real estate accountants can excel in their positions with an associate degree or bookkeeping certification. Continue higher education Some real estate accountants will continue their education and credentialing with a master’s degree or a Certified Public Accountant (CPA) license. Although not always required, continuing your education can unlock more growth opportunities as a real estate accountant, such as being promoted to a management position quickly. Obtain relevant experience and network Since real estate accounting is industry-specific, you may want to obtain some work experience. If you are pursuing a degree, look for internships in the real estate industry. Furthermore,
networking is a crucial component of being a real estate accountant . What is the salary range for a real estate accountant?
A real estate accountant’s pay will largely depend upon where they choose to work, with independent accountants or contractors dictating their own hours and clientele, while those employed by large firms or agencies earning salaries set by their employers. The BLS estimates that the median pay for accountants is $79,880 per year or $38 per hour. However, your pay range can vary based on your experience level, educational background, and where you work. What being a real estate accountant is all about
Real estate accountants handle everything from recording acquisitions to tracking rent rolls. Here are some of the other main tasks: Recording acquisitions and disposals Monitoring capital expenditures Creating budgets and forecasts Calculating and recording depreciation Preparing financial reports and statements Maintaining compliance with regulators Real estate accountants generally work the traditional 9 to 5 hour schedule. Additionally, many real estate accountants can work remotely or on a hybrid schedule. Needed skills and competencies
Real estate accountants not only need a baseline understanding of the real estate industry but also soft skills to effectively communicate with other team members. Technical skills like
understanding general accounting principles and best practices
are crucial to excel in a career as a real estate accountant. How to make yourself stand out as a candidate for real estate accountant positions
When starting your career as a real estate accountant, it’s important to stand out from other candidates. Here are some top tips to stand out in the hiring process: Have a growing professional network Be clear about your expectations and goals Evaluate positions with logic rather than emotions Demonstrate your experience in the real estate industry Commit to lifelong learning Negotiate your terms Frequently asked questions
Do real estate accountants need a CPA license? A CPA license isn’t required to be a real estate accountant; however, it can be beneficial to earn promotions and a higher salary. Is a real estate bookkeeper the same as a real estate accountant? Real estate bookkeepers handle general ledger management, while an accountant handles more complex items, such as maintaining depreciation schedules and putting together forecasts. What accounting method do real estate accountants need to know? Generally Accepted Accounting Principles (GAAP) is the most widely used accounting method in the real estate industry.
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