Real estate management implies property maintenance and administration. Real estate managers focus on attracting tenants, making the property more appealing, keeping up to the resale value of the property. On the other hand they manage the logistics of property operation making the owner benefits from adequate profits it breeds. The real estate managers must make certain that the payroll, taxes and utilities are covered; the rent collecting policies are implemented apart from sorting the maintenance issues.
Real estate managers can function as an on-site manager, maintaining the property checking on any repairs on daily basis or as asset managers developing various real estate properties, negotiating contracts and dealing with legal and financial issues.
The managers run through prodigious time making reports, showing the property for potential tenants and researching residential complaints. The growing demand for third party administered communal residing place and senior population promotes growth in this province. In order to get an ideal stance in this career, concerned people should be educated and should possess some experience in management.Recognized institutes offering online real estate management degrees are the Ashford University, Independence University, Colorado technical university and the Ashworth College.
The career specializations for this job, is limited to Commercial Real Estate – The managers here deal with businesses rented properties. Residential Real Estate – Here the managers manage the properties families residing in. Available Degree Levels for Real Estate Management, Bachelor’s in Accounting, , Finance, Business Administration, or Real Estate Management – completed in four years. Masters in Accounting, , Finance, Business Administration or Real Estate Management – completed in two or three years.
A bachelor’s degree and a master’s degree in a real estate management or an associated field will be positioned high. Experience in a management position is also imperative for this career. These managers should have a better insight of the real estate business and be aware of the sales, marketing and financial aspects of this industry. A certificate legally issued by the concerned state, where the property to be bought or sold is, must be obtained by the managers.
The average pay in relation to the Bureau of Labor Statistics (2008) for a licensed manager in this business after completing online real estate management degrees is estimated in between $ 22,000- $ 102,000. An average of $40,170 is earned by an independent real estate landowner whereas the managers earn $74,000 per year.
What is the Career Outlook
As per the United States Department of Labor, the growth of this industry is at comparatively average rate. Foreseeably an additional increase by 8% is expected at the time of 2008 to 2018. Opportunities for graduates with a bachelor’s degree in business, real estate or management fields are higher. People experienced in managing retirement homes of health care services will gain remarkable career outlook.
As office managers one has to plan and make decisions aiding in efficiently running an organization, as education administrators, as sales agents and real estate brokers, as health service and medical managers.