Real estate asset managers oversee the management of commercial or residential properties and may also be responsible for buying and selling real estate. A college degree and previous experience in the industry are often required. Investment firms and property management companies offer internships for students, and experienced real estate agents and lenders may transition into asset management roles.
Someone who wants to become a real estate asset manager must have previous experience related to the industry. Many employers also require applicants for these jobs to have completed college degree programs. A real estate asset manager oversees the day-to-day management of a variety of commercial or residential properties. Also, some asset managers are responsible for buying and selling real estate with the intention of generating profits.
Many property managers are employed by property management companies that manage properties on behalf of clients such as construction companies, apartment rental companies, and industrial facility operators. The manager must negotiate lease agreements with tenants and agree with contract service companies to clean, repair, and maintain these properties. In some cases, managers chair the staff that handles customer service, accounting, and other areas of responsibility. Typically, someone who wants to become a real estate asset manager for a property management company must have a college degree in business administration, management or a related topic. Additionally, many employers require managers to have previous property management experience, including some experience as a junior supervisor or assistant manager.
Investment portfolios, including those held by mutual funds, often contain real estate holdings, and investment firms typically employ a real estate manager to handle the day-to-day management of these assets. This individual must identify suitable properties for the fund to purchase and negotiate the purchase, lease and eventual sale of those properties. Managers are tasked with generating recurring income through rent payments and long-term profits through property sales. In lieu of having experience in the real estate industry, someone who wants to become a real estate asset manager for an investment firm must successfully complete a securities licensing course. Investment firms often promote experienced securities traders into management positions.
Many investment firms and real estate management companies offer internships for undergraduate students. Someone who wants to become a real estate asset manager can apply for one of these internships, and most employers typically accept students with above average grades. Due to the nature of the work, investment firms often offer internships to undergraduates studying finance, business, economics or a related topic. Property management companies often prefer to hire students enrolled in property management degrees or business administration programs. Well-performing interns are sometimes offered permanent jobs, which are often contingent on successful college completion.
Individuals with experience working as real estate agents or lenders can sometimes transition into asset management roles. Senior agents with management experience are often sought after by property management companies due to their knowledge of the local property market. Likewise, successful lenders develop close working relationships with construction companies and leasing companies; these professional relationships allow some lenders to become successful property managers.
Protect your devices with Threat Protection by NordVPN
