Profession real estate manager

Real estate managers handle and oversee the operational aspects of commercial or residential properties such as private apartments, office buildings and retail stores. They negotiate contracts for lease, identify and plan new real estate projects and construction of new buildings by partnering with a developer to identify the appropriate site for new buildings, coordinate the feasibility study for new constructions and supervise all the administrative and technical aspects involved in expanding the business. They maintain the premises and aim to increase its value. They hire, train and supervise personnel.

Personality Type

• Enterprising / Conventional

Knowledge

• Real estate market

  The trends concerning the buying, selling, or renting of property, including the land, buildings, and natural resources encompassed within the property; the categories of residential properties and properties for business purposes which such properties are traded in.

• Property law

  The law and legislation that regulates all the different ways to handle property, such as the types of property, how to handle property disputes and property contract rules.

• Financial analysis

  The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.

• Corporate social responsibility

  The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.

• Financial management

  The field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value increase of corporations due to managerial decision-making.

• Financial statements

  The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.

• Budgetary principles

  Principles of estimating and planning of forecasts for business activity, compile regular budget and reports.

Skills

• Organise a damage assessment

  Organise a damage assessment by indicating an expert to identify and examine the damage, give information and instructions to experts and follow up on the experts, and write a damage report.

• Advise on financial matters

  Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.

• Analyse insurance risk

  Analyse the probability and size of the risk that is to be insured, and estimate the value of movable or immovable property of the client.

• Plan health and safety procedures

  Set up procedures for maintaining and improving health and safety in the workplace.

• Obtain financial information

  Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.

• Provide cost benefit analysis reports

  Prepare, compile and communicate reports with broken down cost analysis on the proposal and budget plans of the company. Analyse the financial or social costs and benefits of a project or investment in advance over a given period of time.

• Follow company standards

  Lead and manage according to the organisation's code of conduct.

• Analyse market financial trends

  Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

• Control financial resources

  Monitor and control budgets and financial resources providing capable stewardship in company management.

• Analyse financial performance of a company

  Based on accounts, records, financial statements and external information of the market, analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit.

• Strive for company growth

  Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else's. Strive with actions to increase revenues and positive cash flows.

• Supervise property development projects

  Supervise the operations of new projects relating to property development, such as renovation, re-leasing, purchasing of land, building projects, and sale of improved properties. Ensure that the operations are profitable, occur in a timely manner, and are compliant with regulations.

• Manage personnel

  Hire and train employees to increase their value to the organisation. This includes a range of human resources activity, developing and implementing policies and processes to create an employee-supportive work environment.

• Audit contractors

  Examine and document different industry contractors, in order to determine whether they comply with regulations and standards in relation to safety, environment and quality of design, construction and testing, etc.

• Collect rental fees

  Receive and process payments from tenants of properties, such as residential or commercial properties, ensuring that the paid rent is in accordance with the contract and that rental fees are paid in a timely manner.

• Execute feasibility study

  Perform the evaluation and assessment of the potential of a project, plan, proposition or new idea. Realise a standardised study which is based on extensive investigation and research to support the process of decision making.

• Liaise with managers

  Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.

• Create a financial plan

  Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.

• Compare property values

  Obtain information on the value of properties comparable to a property which is in need of valuation in order to make more accurate appraisals and assessments, or to set or negotiate the price at which the property can be sold or leased.

• Maintain financial records

  Keep track of and finalise all formal documents representing the financial transactions of a business or project.

• Trace financial transactions

  Observe, track and analyse financial transactions made in companies or in banks. Determine the validity of the transaction and check for suspicious or high-risk transactions in order to avoid mismanagement.

• Enforce financial policies

  Read, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.

• Create insurance policies

  Write a contract that includes all the necessary data, such as the insured product, the payment to be made, how often the payment is needed, the personal details of the insured and on what conditions the insurance is valid or invalid.

• Manage contracts

  Negotiate the terms, conditions, costs and other specifications of a contract while making sure they comply with legal requirements and are legally enforceable. Oversee the execution of the contract, agree on and document any changes.

• Monitor contractor performance

  Manage the performance of the contractor, assess whether they are meeting the agreed standard and correct underperformance if needed.

Optional knowledge and skills

Source: Sisyphus ODB