Real Estate Manager Job Description [Updated for 2024]
In the dynamic world of real estate, the role of a Real Estate Manager has become increasingly crucial.
As the property market continues to evolve, the demand for skilled professionals who can manage, enhance, and protect our real estate assets is growing.
But let’s delve deeper: What’s truly expected from a Real Estate Manager?
Whether you are:
- A job seeker wanting to understand the core responsibilities of this role,
- A hiring manager outlining the perfect candidate,
- Or simply curious about the intricacies of real estate management,
You’ve come to the right place.
Today, we present a customizable Real Estate Manager job description template, designed for easy posting on job boards or career sites.
Let’s dive right in.
Real Estate Manager Duties and Responsibilities
Real Estate Managers oversee the operational aspects of properties and do tasks related to property purchase, sale and lease.
They ensure properties are well-maintained, financially stable, and enhancing in value.
They have the following duties and responsibilities:
- Manage all aspects of assigned properties
- Design business plans for assigned properties that suit customers’ needs
- Inspect and arrange maintenance to meet standards
- Maintain a positive, productive relationship with tenants
- Negotiate lease contracts with contractors in a timely and reliable manner
- Advertise and market vacant spaces to attract tenants
- Collect receivable accounts and handle operating expenses
- Develop and manage annual budgets by forecasting requirements and analyzing variances, data and trends
- Accomplish financial goals and report periodically on financial performance
- Source and build relationships with prospective clients to expand business opportunities
- Ensure the premises are in operative condition as per contract and tenant needs
- Update job and market knowledge
Real Estate Manager Job Description Template
Job Brief
We are seeking a highly skilled and experienced Real Estate Manager to oversee our company’s property portfolio.
The Real Estate Manager’s responsibilities include managing tenant relationships, ensuring properties are maintained and overseeing property transactions.
Our ideal candidate has a deep understanding of real estate operations, legalities, and financial principles.
The successful candidate will be responsible for ensuring our properties remain profitable and maintained to a high standard.
Responsibilities
- Manage all aspects of assigned properties
- Inspect and arrange maintenance to meet standards
- Maintain a positive, productive relationship with tenants
- Negotiate lease/contracts with contractors in a timely and reliable manner
- Advertise and market vacant spaces to attract tenants
- Collect receivable accounts and handle operating expenses
- Develop and manage annual budgets by forecasting requirements and analyzing variances, data and trends
- Accomplish financial goals and report periodically on financial performance
- Source and build relationships with prospective clients to expand business opportunities
- Ensure compliance with laws and regulations
Qualifications
- Proven work experience as a property manager
- Fully understanding property management and its financial aspects
- In depth knowledge of all rules and regulations surrounding property management
- Competency in MS Office and relevant databases and software
- Customer focus and bottom line orientation
- Interpersonal savvy with strong communication and presentation skills
- Well organized with excellent time management skills
- BS degree in related field
Benefits
- 401(k)
- Health insurance
- Dental insurance
- Retirement plan
- Paid time off
- Training and development opportunities
Additional Information
- Job Title: Real Estate Manager
- Work Environment: Office setting with some travel required for property inspections and meetings with tenants.
- Reporting Structure: Reports to the Director of Real Estate Management.
- Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
- Pay Range: $70,000 minimum to $120,000 maximum
- Location: [City, State] (specify the location or indicate if remote)
- Employment Type: Full-time
- Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
- Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].
What Does a Real Estate Manager Do?
A Real Estate Manager, also known as a Property Manager, is a professional who handles the daily operations of real estate properties, whether they are residential, commercial or industrial.
Their responsibilities typically include maintaining the property and ensuring it meets certain safety and aesthetic standards.
They also handle tenant relations, which might include finding and screening potential tenants, setting and collecting rents, addressing tenant concerns, and handling any evictions if necessary.
Real Estate Managers also take care of the financial operations of the property.
This can involve setting budgets, paying bills, keeping financial records, and providing regular financial reports to property owners.
In addition, they oversee any maintenance or repair works on the property, and they may negotiate contracts with contractors or service providers, such as landscapers or janitorial services.
Real Estate Managers usually work for real estate management companies, but they may also be self-employed.
They work closely with property owners to ensure that the properties are profitable, safe, and well maintained.
The goal of a Real Estate Manager is to protect the owner’s investment while ensuring a satisfactory living or business environment for the tenants.
Real Estate Manager Qualifications and Skills
A proficient Real Estate Manager should possess the skills and qualifications that align with your job requirements, such as:
- Strong understanding of real estate markets and pricing to properly value properties and negotiate favorable terms.
- Interpersonal skills to establish and maintain professional relationships with tenants, owners, and contractors.
- Excellent communication skills to effectively interact with clients, tenants, and team members, clearly conveying complex real estate jargon in a comprehensible manner.
- Organizational skills to manage multiple properties, track and update financial records, and ensure all properties are well-maintained and in compliance with regulations.
- Problem-solving skills to address property-related issues, negotiate lease agreements, and resolve tenant conflicts in a timely and efficient manner.
- Financial knowledge to create budgets, monitor expenses, and maximize property profitability.
- Knowledge of real estate laws and regulations to ensure compliance and provide advice to property owners.
- Leadership skills to effectively manage and oversee a team of real estate professionals and ensure the smooth operation of properties.
- Technical skills to use property management software and other relevant computer applications effectively.
Real Estate Manager Experience Requirements
Entry-level Real Estate Managers typically have 1 to 3 years of experience in the real estate sector, often gained through internships, part-time roles, or positions as real estate agents.
These professionals gain essential experience and understanding of the market, property valuation, negotiation, and managing client relationships.
Real Estate Managers with 3 to 5 years of experience usually have a solid understanding of property management, including leasing, maintaining properties, financial planning, and dealing with legal issues.
This experience can often be gained from roles such as Leasing Consultant, Property Manager, or Real Estate Broker.
Those with over 5 years of experience in the field are often ready for more senior roles or managing larger properties or portfolios.
They are expected to have a deep understanding of real estate market trends, laws and regulations, property maintenance, and client relationship management.
They may also have experience leading teams, strategic planning, and budget management.
Such candidates often come from roles like Senior Property Manager, Real Estate Consultant, or Real Estate Broker.
In addition, a Real Estate Manager should also possess a real estate license, as this is a legal requirement in many regions.
Some employers may also prefer candidates with a Certified Property Manager (CPM) or similar certification, which demonstrates a high level of professionalism and competence in the field.
Real Estate Manager Education and Training Requirements
Real Estate Managers generally need a bachelor’s degree in real estate, business administration, finance, public administration, or a related field.
They need to have a strong understanding of property management, real estate development, and contract law.
Some employers may prefer candidates with a master’s degree in these fields, especially for larger or more complex properties.
Most states require Real Estate Managers to be licensed real estate brokers if they are involved in selling, leasing, and renting properties.
Broker licensing usually requires a certain amount of experience as a real estate sales agent, completion of educational requirements, and passing a state licensing exam.
In addition to these basic education and licensure requirements, many Real Estate Managers also pursue professional certifications to enhance their credentials.
These certifications, such as the Certified Property Manager (CPM) or Real Property Administrator (RPA) designation, are offered by industry organizations and typically require a combination of education, experience, and passing an exam.
Continuing education is also important in this field, as laws, regulations, and technologies related to real estate management are always changing.
Real Estate Managers should be prepared to regularly update their skills and knowledge throughout their careers.
Good financial acumen, negotiation skills, and customer service abilities are also crucial for success as a Real Estate Manager.
Real Estate Manager Salary Expectations
A Real Estate Manager earns an average salary of $75,910 (USD) per year.
The salary can fluctuate based on the manager’s experience, the location of the properties they manage, the size of their portfolio, and the specific market conditions.
Real Estate Manager Job Description FAQs
What skills does a Real Estate Manager need?
Real Estate Managers need a broad range of skills to be successful in their role.
They should have excellent communication and negotiation skills, as they will often be the mediator between landlords and tenants.
Financial acumen is also critical since they need to set rental rates, manage budgets, and enhance property values.
Additionally, analytical and problem-solving skills are essential for assessing property and market conditions.
Do Real Estate Managers need a degree?
While not always required, most Real Estate Managers have a degree in real estate, business administration, or a related field.
Additionally, some states may require Real Estate Managers to hold a real estate broker’s license.
Obtaining professional certifications such as the Certified Property Manager (CPM) or Real Property Administrator (RPA) can also be beneficial.
What should you look for in a Real Estate Manager resume?
When reviewing a Real Estate Manager’s resume, you should look for a strong background in property management, including experience with lease negotiation, property maintenance, and financial reporting.
They should also have a proven record of maintaining high occupancy rates.
Be sure to check if they hold any relevant certifications or licenses.
What qualities make a good Real Estate Manager?
A good Real Estate Manager is well-organized and detail-oriented, capable of juggling multiple tasks at once.
They are decisive and capable of making tough decisions, but also diplomatic when dealing with landlords, tenants, or staff.
Good Real Estate Managers are also highly ethical, acting in the best interest of the property and its stakeholders at all times.
What are the daily duties of a Real Estate Manager?
On a typical day, a Real Estate Manager may review and negotiate lease agreements, handle tenant inquiries or complaints, and supervise property maintenance or improvement projects.
They might also meet with potential tenants or investors, analyze market trends, and prepare financial statements.
Every day can bring new challenges and opportunities in this role.
Conclusion
And there you have it.
Today, we’ve taken a deep dive into the intricate world of a real estate manager.
Surprise, surprise?
It’s not just about buying and selling properties.
It’s about shaping the landscape of our communities, one property at a time.
With our comprehensive real estate manager job description template and authentic examples, you’re ready to make your move.
But why not go further?
Explore more with our job description generator. It’s your ultimate tool for creating precision-crafted job listings or fine-tuning your CV to perfection.
Remember:
Every property is a part of the larger community.
Let’s shape that community. Together.
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