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 partenering 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.

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Personality Type

  • Enterprising / Conventional

Knowledge

  • 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.

  • Budgetary principles

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

  • 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.

  • 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.

  • 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.

  • 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.

Skills

  • 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.

  • 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 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.

  • Analyse market financial trends

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

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Control financial resources

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

  • 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.

  • Obtain financial information

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

  • Maintain financial records

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

  • Plan health and safety procedures

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

  • Monitor contractor performance

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

  • 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.

  • Follow company standards

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

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Liaise with managers

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

  • 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.

Optional knowledge and skills

concurrent estate examine the conditions of buildings manage budgets value properties recruit employees modern portfolio theory develop professional network attend trade fairs inform on renting agreements negotiate with property owners advise on property value provide information on properties

Common job titles

  • Global category manager - real estate
  • Real estate analyst
  • Real estate manager
  • Manager, global real estate
  • Real estate development manager
  • Recruiter / team leader / manager
  • Realty management division, us real estate asset manager, associate
  • Relationship manager
  • Real estate specialist