Careers in Real Estate Management

Growth in the world economy also involves the growth in the real estate sector. This booming sector has been coming up with a great pace in the last few years. Growing economy has led to the increased need of office spaces, high rise buildings, apartment complexes, condominiums etc. This has really given a push to this sector.

With so much of land and money involved, it is better that the real estate business be handled by professionals, who have experience in this field. Real estate management mainly involves the administration, operation, marketing, and management of the real estate. The work can be broadly classified under three categories, manly on the basis of the type of real estate being managed:-

1. Resident or site management
2. Property management
3. Real estate asset management

A trained real estate manager is also known as a property manager, and his main function is to serve as the owner’s representative of the property, to the outside world. A property manager handles all the affairs of the property like the taxes, bills, tenants etc. It is the job of this person to increase the income which the property provides to its owner, which is done by using the principles of real estate management.

It is required that the manager take note of the property’s commercial value in the market, and ear mark the potential candidates out of those vying to buy it, if the property is commercial.
Jobs in real estate management are of different types, again depending on the type of the property. On a broad scale, it can be said that commercial properties are generally managed with financial interests in view, while the domestic properties are managed with the object of keeping them preserved. Besides, insurance companies need a lot of experts on real estate, and many big companies may hire an expert real estate manager to take care of all their properties, which might be many and in multiple places.