What does a Real Estate Manager do?
Property owners employ Real Estate Managers for various reasons. Some may lack the expertise to deal with tenants and take care of maintenance tasks. Others who own multiple properties may need hands-on assistance in running their estates in their absence. Apart from overseeing the upkeep of a property and functioning as a liaison between landlords and tenants, Real Estate Managers may also provide financial and legal advice for property owners. Some property owners may even require that a Real Estate Manager handles all activities that lead to the purchase, sale, lease or development of a property.
Real Estate Manager skills and qualifications
Real Estate Managers interact with people throughout their working day. Whether they’re reporting to a landlord, overseeing contractors or dealing with tenants, Real Estate Managers should have excellent communication skills. They need the ability to listen to relevant parties and must also be able to effectively share information. A successful Real Estate Manager candidate will have various other prerequisite skills and qualities, which include:
- Good problem-solving skills to come up with effective solutions when challenges arise
- Excellent organisational skills to effectively manage the operations of multiple properties
- The ability to build effective relationships with owners and tenants
- Knowledge of relevant real estate laws and regulations
- Solid financial acumen to assist owners with financial activities
- Excellent customer service skills to provide both owners and tenants with the service and support they require
- Good marketing skills to effectively market properties
Real Estate Manager experience requirements
The level of experience a Real Estate Manager needs depends on the position. Some employers may ask that candidates show previous experience in commercial or residential property management. Others may be satisfied if candidates have previous experience working in real estate or a professional customer service environment. Depending on the position, candidates may need to meet specific requirements, such as knowledge of relevant legislation or experience in managing a portfolio of high-end properties.
Real Estate Manager education and training requirements
There are no fixed education or training requirements for this profession. Whereas some Real Estate Managers have a few GCSEs, others hold a bachelor’s degree in real estate, finance or business administration. There are various professional qualifications that candidates can obtain to develop their skills and knowledge in the field. The Association of Residential Letting Agents (ARLA), for instance, offers many relevant qualifications. Examples include the Level 2 Award in Introduction to Residential Property Management Practice or the Level 3 Award in Residential Letting and Property Management.
Real Estate Manager salary expectations
According to Indeed Salaries, the average salary for a Real Estate Manager in the U.K. is £54,971 per year. Salaries vary depending on factors like location, employer and level of experience.
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