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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 real estate 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 real estate 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 real estate 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. Real estate, 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 · Organisational · Strategic planning · Communication (both verbal and written) · Negotiation · Analytical · Logical and creative approach to problems · 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 and £63,000. The bonus amount starts from £3,000 to £13,000. When it comes to career advancement opportunities, candidates having a degree in business administration or real estate 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. Author Bio: Lisa Anderson is a recruitment counsellor. She is also a freelance writer who writes on various topics like estate agency jobs, property management jobs, and career in facilities management and so on. She takes inspiration from Deverell Smith Recruitmentwhile writing on these topics. Summary Real estate asset management is no easy job. Those who can pull out the tough tasks are rewarded well. Find out in this article what do you need to become a real estate asset manager and also, about the duties you have to fulfill.
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