Real estate asset managers buy, develop, and sell investment properties for clients, focusing on growth and traffic patterns, population growth, and tax implications. They require excellent communication and negotiation skills and a bachelor’s degree in real estate, finance, or economics.
A real estate asset manager buys, markets, develops and sells properties on behalf of his clients. He does not typically participate in real estate transactions relating to his clients’ homes or commercial properties, from which the client operates his business. Their focus is typically on various real estate holdings that were purchased as investment properties. His clients often depend on him to manage these assets for them based on convenience and the value of their time.
In addition to having experience in general real estate practices, a person in this position is typically expected to be an authority on acquisitions. It is common for him to be proficient in looking for good investment properties, negotiating lucrative deals and monitoring the property after its purchase. If your scrutiny reveals that the property is no longer profitable or an asset, a real estate asset manager is generally expected to advise his client to sell. Then he usually markets the property to potential buyers.
Many factors are usually carefully considered by a real estate asset manager before he recommends purchase options to his clients. He usually studies growth and traffic patterns in the area, as well as projected population growth, fluctuations in property values, and tax implications. Existing and anticipated zoning laws are typically reviewed by the asset manager in his property review.
While a traditional real estate professional typically moves on to a new project after escrow on a property closes, a real estate asset manager’s job usually begins with the purchase of the property and continues until he and his client agree on its sale or development. . He typically checks all of his properties on a set schedule to determine changes in value. If the neighborhood in which a property is located sees a significant drop in quality, he may recommend selling it. Other factors that may prompt you to encourage a sale often include property tax increases, zoning changes, or other properties in the area losing value.
Success in this profession typically requires excellent communication and negotiation skills. A real estate asset manager is usually looking for good deals that he can present to his client, purchases that can be profitable for him and his client in an acceptable time frame. Finding the best properties and prices often requires the asset manager to have ties to many sectors of the community. Once he is alerted to the availability of a great investment property, his success often depends on his ability to be the first to make an offer and subsequently negotiate the best terms.
A bachelor’s degree in real estate, finance or economics is generally required for this position. A real estate license is often considered a good qualification for being a real estate appraisal manager. Some employers prefer candidates for a master’s position in a related field.
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