Real estate asset managers leads a team of analysts and colleagues to optimize the company’s handling real estate assets. They work extensively with property management and residential development personnel on all issues related to their organization's assets. Generally speaking, this position is considered a supervisory job with staff underneath the manager that require training and guidance. Day-to-day tasks consist of meetings about strategies, planning for future projects, and assessment of current properties. Regular communication with lawyers, managers, architects, brokers, construction foremen, and others is required in this role.
Real estate asset managers' work environments vary, as some travel to clients and partners may be required; generally, these professionals work in an office environment during regular business hours. Overtime may occur during time-sensitive projects that require additional work. Individuals in this position report directly to management, with exact details dependent upon the company’s hierarchy.
Educational requirements for this position generally include master’s degree in business administration (MBA), although equivalent work experience may be accepted in lieu of an MBA. Extensive experience in related positions is required as well. Other necessary skills include asset management, attention to detail, strategic planning, and creative thinking. Real estate asset managers must also work well on their own with minimal supervision, as well as in a team setting.
Real Estate Asset Manager Tasks
- Manage real estate assets held in trusts, estates, and agency accounts.
- Locate prospective sites, negotiate contracts, provide lease abstracts and develop a proposed budget for real estate assets.
- Assess options and opportunities to maximize return on real estate investments.