Real estate asset manager - this designation is characterised by challenges and rewards. This job involves many challenging duties and if you are able to accomplish them successfully, you will get the rewards you deserve. Real estate asset managers are also called simply, estate or property managers. Their chief focus is to maximise the profit for investors and businesses.
Contrary to the work of the on-site property managers, estate managers deal with the process of buying and selling of properties. They do not perform or oversee the day-to-day operations of an estate agency. As a property manager, you can help a property owner in managing real estate assets like an office building, apartment complex, factory, warehouse or shopping mall. It is worth mentioning that you may be needed to manage more than one property at a time.
Job activities
The primary responsibility of a real estate asset manager is to conduct research on different effective strategies for developing real estate, commercial or residential. You have the option to choose whether you wish to work on commercial or residential property development and management. Other responsibilities include analysing zoning and tax laws, property values, demographics and traffic patterns. This is to decide whether a property will turn out to be a profitable investment or not for a client. The negotiation of the terms and conditions of this contracts is also the duty of a property manager.
Once you are employed in the position of a real estate manager, you will be required to work closely with various professionals such as, lenders and third-party groups to keep track of your client's profit and to maximise it by constantly evaluating business plans, contracts, budgets and estimates.
This is in brief, the duties and responsibilities of a property manager.
Academic qualifications
Since this is a managerial role, education plays an important role during recruitment. A high school diploma is required to embark on a career in this field. In order to progress to the position of property manager, you need to obtain a University Grants degree. Finance, accounting public administration and business administration- you may choose any of these subjects for graduation. A bachelor's degree in any of these disciplines will stand you in good stead.
Candidates having an MBA are given preference. Many firms stress on recruiting candidates for the role of property manager who have a grade point above average.
Skills
Proficiency in computer applications such as, Microsoft Excel is a big requirement. Skills that you will be required to demonstrate are
1. Organisational
2. Strategic planning
3. Communication (both verbal and written)
4. Negotiation
5. Analytical
6. Logical and creative approach to problems
7. Numerical
Interpersonal skills are vital to succeed in this role. This quality will help you deal with clients efficiently and work with professionals at different levels.
Training
Certification courses in property management, financial accounting, valuation, real estate law and tenant relations are an advantage. Many companies offer these training courses to potential real estate managers.
Salary and career growth
The annual average salary of a real estate asset manager differs according to the size and location of the company and the efficiency and experience of the professional. As the current job market analysts say, the pay ranges between 34,000 Pound and 63,000 Pound. The bonus amount starts from 3,000 Pound to 13,000 Pound.
When it comes to career advancement opportunities, candidates having a degree in business administration or this will have the finest employment opportunities. Employers will prefer to recruit professionals with appropriate certification and experience in senior housing management and medical facilities management for the prestigious position of real estate asset manager.
Contrary to the work of the on-site property managers, estate managers deal with the process of buying and selling of properties. They do not perform or oversee the day-to-day operations of an estate agency. As a property manager, you can help a property owner in managing real estate assets like an office building, apartment complex, factory, warehouse or shopping mall. It is worth mentioning that you may be needed to manage more than one property at a time.
Job activities
The primary responsibility of a real estate asset manager is to conduct research on different effective strategies for developing real estate, commercial or residential. You have the option to choose whether you wish to work on commercial or residential property development and management. Other responsibilities include analysing zoning and tax laws, property values, demographics and traffic patterns. This is to decide whether a property will turn out to be a profitable investment or not for a client. The negotiation of the terms and conditions of this contracts is also the duty of a property manager.
Once you are employed in the position of a real estate manager, you will be required to work closely with various professionals such as, lenders and third-party groups to keep track of your client's profit and to maximise it by constantly evaluating business plans, contracts, budgets and estimates.
This is in brief, the duties and responsibilities of a property manager.
Academic qualifications
Since this is a managerial role, education plays an important role during recruitment. A high school diploma is required to embark on a career in this field. In order to progress to the position of property manager, you need to obtain a University Grants degree. Finance, accounting public administration and business administration- you may choose any of these subjects for graduation. A bachelor's degree in any of these disciplines will stand you in good stead.
Candidates having an MBA are given preference. Many firms stress on recruiting candidates for the role of property manager who have a grade point above average.
Skills
Proficiency in computer applications such as, Microsoft Excel is a big requirement. Skills that you will be required to demonstrate are
1. Organisational
2. Strategic planning
3. Communication (both verbal and written)
4. Negotiation
5. Analytical
6. Logical and creative approach to problems
7. Numerical
Interpersonal skills are vital to succeed in this role. This quality will help you deal with clients efficiently and work with professionals at different levels.
Training
Certification courses in property management, financial accounting, valuation, real estate law and tenant relations are an advantage. Many companies offer these training courses to potential real estate managers.
Salary and career growth
The annual average salary of a real estate asset manager differs according to the size and location of the company and the efficiency and experience of the professional. As the current job market analysts say, the pay ranges between 34,000 Pound and 63,000 Pound. The bonus amount starts from 3,000 Pound to 13,000 Pound.
When it comes to career advancement opportunities, candidates having a degree in business administration or this will have the finest employment opportunities. Employers will prefer to recruit professionals with appropriate certification and experience in senior housing management and medical facilities management for the prestigious position of real estate asset manager.
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