On behalf of his clients, a real estate asset manager purchases, trades, develops, and sells properties. He rarely gets involved in real estate transactions involving his clients’ homes or commercial properties from which they run their businesses. Normally, he concentrates on a number of real estate holdings that have been purchased as investment properties. His clients frequently entrust him with the management of their assets because of the convenience and value of their time.
A person in this position is typically expected to be an expert on acquisitions in addition to having knowledge of general real estate practices. He is frequently expected to be skilled at locating good investment properties, negotiating lucrative deals, and overseeing the property after it has been purchased. A real estate asset manager is generally expected to advise his client to sell if his investigation reveals the property is no longer profitable or an asset. After that, he usually goes out and markets the property to potential buyers.
Before recommending buying options to his clients, a real estate asset manager usually considers a number of factors. He looks at the area’s growth and traffic patterns, as well as population projections, property value fluctuations, and tax implications. In most cases, the asset manager examines current and future zoning laws as part of his property analysis.
While a traditional real estate professional usually moves on to the next project once escrow on a property closes, a real estate asset manager’s job typically starts with the property purchase and lasts until he and his client agree to sell or develop it. To determine changes in value, he checks all of his properties on a regular basis. He may advise the sale of a property if the neighborhood in which it is located experiences a significant drop in quality. Increased property taxes, zoning changes, and the loss of value of other properties in the area are all potential motivators for him to encourage a sale.
In order to succeed in this field, you’ll need to be a natural communicator and negotiator. A real estate asset manager is always on the lookout for good deals to present to his clients, purchases that can be profitable for both him and his client in a reasonable amount of time. Finding the best properties and prices frequently necessitates the asset manager’s involvement in a variety of community sectors. His ability to be the first to make an offer and then negotiate the best terms is usually what determines his success once he is alerted to the availability of a great investment property.
This position typically requires a bachelor’s degree in real estate, finance, or economics. A real estate license is frequently regarded as a desirable qualification for a real estate assessment manager. Some employers prefer candidates with a master’s degree in a related field for the position.