Transaction Manager, Real Estate Salary
Job Description for Transaction Manager, Real Estate
Real estate transaction managers oversee all real estate transactions on behalf of their organization. They are in charge of organizing and resolving legal and financial matters related to these real estate activities, as well as provide support to staff to ensure that transactions are performed according to credit-related agreements. Some of the real estate transaction manager's main functions also include monitoring liabilities, serving as the first point of contact for credit executives and bank associates, and interact with real estate professionals, bank associates, and legal counsel as needed.Read More...
These managers must regularly use a personal computer to keep accurate records of real estate transactions and write reports. They must have the leadership skills to motivate real estate professionals to identify problems with transactions that can negatively affect their organization. They also assess the financial viability of real estate deals, as well as modify contracts as required to benefit their company and prevent future legal incidents.
Real estate transaction manager positions generally require a bachelor's degree in business administration, accounting, or a similar field. Previous relevant real estate experience is generally needed as well, and industry and leadership certifications may be beneficial. These managers must be organized and pay close attention to detail, as well as possess strong communication skills.
Transaction Manager, Real Estate Tasks
- Evaluate potential real estate contracts, propose changes, and negotiate deals that are beneficial to the company.
- Manage transactions to timely completion and file all required documentation and paperwork.
- Coordinate transactions for leases, purchases, expansions, and subleases for company's real estate portfolio.
- Identify real estate purchases that serve overall corporate strategy and work financially within the company budget.
Transaction Manager, Real Estate Job Listings
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Popular Employer Salaries for Transaction Manager, Real Estate
CBRE Group does shell out the biggest paychecks — the median in that office is $80K — but the company pay scale is greatly mixed, meaning that workers on the low end may earn only $50K while workers on the upper end may rake in up to $152K.
Popular Skills for Transaction Manager, Real Estate
Overall, survey participants reported applying a fair number of skills to their work. Most notably, facility with Financial Analysis, Negotiation, and Contract Negotiation are correlated to pay that is significantly above average, leading to increases of 160 percent, 43 percent, and 42 percent, respectively. Those listing Social Media Marketing and Organizing as skills, on the other hand, should be prepared for drastically lower pay. Those proficient in Contract Negotiation are, more often than not, also skilled in Negotiation.
Pay by Experience Level for Transaction Manager, Real Estate
Median of all compensation (including tips, bonus, and overtime) by years of experience.
In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Relatively untried employees who have fewer than five years of experience earn around $39K on average. People who have worked for five to 10 years can expect a higher median salary of $60K. Real Estate Transaction Managers with one to two decades of relevant experience report an average salary of approximately $62K. Survey participants who have worked for more than two decades report bringing in $96K on average.
Pay Difference by Location
Los Angeles, New York, and Chicago, the three biggest cities in America, are lucrative areas where pay is higher than the national average. The lowest-paying market is Tampa, which sits 26 percent below the national average, proving that location is a significant contributor to overall pay.