Institute for Career Research

Your Career in Real Estate Management Institute for Career Research

REAL ESTATE MANAGEMENT IS A FASCINATING CAREER. It requires a great sense of responsibility, patience and understanding of people's needs, a strong footing in finance and property law, and a substantial knowledge of how many things work, from construction equipment, to plumbing and air conditioning, to elevators and ventilation systems. Many people who have chosen this career have done so because of the variety involved and the surprising number of new and unusual challenges that come up on a regular basis. It appeals to people who are too restless to sit in an office all day, but who also appreciate being able to get back to a desk where they can regroup and get themselves organized for the next challenge. Apparently, the variety plus the high level of activity keeps real estate and property managers happy, as Forbes magazine, in a recent study, ranked this career as second out of the 20 most satisfying jobs in America. Forbes also indicated that these managers have an overall job satisfaction index of 4.7 out of 5. Besides providing an array of fresh challenges, a career as a real estate manager offers a good salary range and chances for advancement. It is also a career for which substantial growth is seen over the next several years, with estimates of thousands of new real estate and property management jobs becoming available over the course of the next decade. Some real estate management firms work with one or two of these types of properties, while others serve a broad range. Whatever the property type, real estate managers are charged with making sure the properties they are responsible for have an appealing appearance and are well maintained. It is up to them to preserve the property's value, whether for renting, leasing, or resale. Real estate managers collect the rent, one of the responsibilities that go back to the very origins of the profession. They are often also responsible for advertising and showing available properties to potential new tenants, and dealing with problems between tenants as well as between the tenant and the landlord. It is also their job to evict tenants who either do not pay the rent or who are in violation of rules regarding the use of the property. It is a job for people with strong personalities who also know how to get along with a wide variety of people. It requires computer skills, the ability to communicate effectively in person and in writing, and a willingness to pitch in and get your hands dirty if the situation calls for it. This would be especially the case when someone is starting out. As an assistant real estate manager, you are more likely to help out the maintenance and janitorial staff when there is a mess that needs cleaning up. Where can it lead? From an entry-level position, the job can grow into a senior management role. It also serves as a great training ground for getting into real estate sales and even into purchasing or developing your own real estate projects.