Asset Manager

Asset Manager

Function
o A real estate asset manager's primary function is to research different strategies for investing in and developing residential and commercial real estate. The asset manager evaluates zoning and tax laws, demographics, property values and traffic patterns to determine whether a property is a good investment for his clients. He also negotiates the terms and conditions for real estate contracts. The asset manager works closely with property managers, lenders and other third-party groups to track and maximize his clients' profit by periodically reviewing leasing contracts, business plans, budgets and forecasts.
o The Asset Manager has somes duties such as:
• Complete monthly review of financials and narratives, review weekly project data including recaps, traffic reports, follow-up cards and delinquencies
• Establish and enforce benchmarks, guidelines, and policies
• Conduct site visits on a regular basis to include but not limited to review of: curb appeal, model inspections, expense approvals, and personnel issues
• Direct management with valid and reliable information for phases of planning including: budgets, staffing, capital improvements, and other programs
• …
Education
o A bachelor's degree in finance, real estate, accounting, business administration, finance, public administration or a related major is required for a real estate asset manager position. Firms may require that graduates have an above average grade point average or a Master's in Business Administration (MBA).
Skills
o Real estate asset management professionals must be highly proficient with computer applications such as Microsoft Excel. Candidates should be highly analytical and able to approach problems both logically and creatively. Excellent organizational, strategic planning, verbal and written communication skills will be needed to negotiate contracts and work with different roles and personalities. Real estate asset managers must also be good with numbers and know how to analyze financial data. They must have an ability to prioritize and to be multi-task in a fast paced environment. A managerial experience is required with superb analytical skills, accuracy and attention to detail.
Salary
o The average salary for a real estate asset manager varies based on location, employer and experience. For example, an April 2010 PayScale report places the average salary for a real estate asset manager between $51,761 and $95,863. The report also lists average real estate asset manager bonuses between $4,941 and $19,781.
Potential
o Job candidates with a college degree in real estate, business administration or a similar discipline will have the best job opportunities, according to the U.S. Bureau of Labor Statistics (BLS). Real estate asset managers with professional certification or experience managing senior housing and medical facilities will also have an advantage over their industry peers.