Prepare for a career in property management
The ever-changing nature of the real estate industry has created and continues to create employment and career opportunities.
If you are self-confident, enjoy dealing with people, enjoy working unusual hours, and want to step into a very fulfilling industry, working in real estate might just be your dream career.
However, it is also a risky industry which demands high ethical standards from its practitioners. After all, you’ll often be involved in high-value transactions that could represent the most important financial decisions your clients have ever made, so treat them with respect.
Typically, real estate agents (or estate agents) rent, manage, appraise, buy and sell residential, commercial and industrial properties or businesses on behalf of their clients. To be successful, it takes dedication, professionalism and a real commitment to providing superior customer service.
What is real estate management?
Property management is the administration, operation, marketing, maintenance and financial monitoring of a property to achieve the goals of the owner of the property. It is a service business and as such the managers work closely with the owners of the properties they manage and the tenants and residents who reside and work in those properties.
The primary responsibility of a property manager revolves around five areas:
Planning, accounting, monetary and investment analysis, leverage, financing
Marketing and rental
Marketing plans and strategy, advertising and preparation of spaces for rent, presentation of the property, negotiation of leases, establishment of rents
Management of physical assets
Maintenance, inspections, operations, capital improvements, durability
Human Resource Management
Manage and direct the people who maintain and support the operations of the property
Legal and risk management
Insurance, emergency plans, government regulations, contracts, leases
Outlook and Market Overview
The real estate sector is growing at a breakneck pace and the market is witnessing this growing recovery. The continued growth that is occurring is due to the booming economy and investment in the country. The turning point gives a big boost to the sector and creates many employment opportunities for young professionals and experienced professionals who have never been before.
Everyone has known the construction and real estate industry as one of the biggest job providers for so many years. But now, with the real estate boom and the arrival of FDI, new avenues are opening up, which has generated excellent employment opportunities.
Employment prospects in the industry are not limited to the construction and civil engineering workforce alone. The growth of the organized construction and building industry, especially housing and urban development, has created a plethora of opportunities and the benefits are there for professionals of all shades and colors.
There is a continuing need for professionals in private and government agencies in fields concerned with the development, valuation, financing and marketing of residential, commercial and industrial real estate.
The rewards of a career in property management are the possibility of high income, standing in the public, autonomy, freedom of time, service to people, intellectual challenge and the achievement of these achievements.
Most property management companies work in the field of property management, where when owners of apartments, office buildings, businesses and industrial properties lack the time or expertise to take over the management. daily from their property. real estate investments, often hire a property manager or contract for his services with a property management company.
Real estate and construction companies also provide employment opportunities with mortgage bankers, consulting firms, real estate developers, property management companies, commercial banks, savings associations, insurance companies and residential or commercial and industrial brokerage offices.
Job prospects in property management:
- Estate Manager
- Geomatics surveyor
- Planning and development expert
- Quantity surveyor
- Rural practice surveyor
- Commercial / residential surveyor
- Director of construction
Skills required for a career in property management
Browsing real estate means studying all aspects of property, from town planning law to bricks and mortar. You will study the built atmosphere, covering areas such as acquisition, growth, management, disposal and valuation of land and buildings. Classes focus on financial, legal, managerial and technological issues related to real estate as well as issues such as sustainability.
In practice, it tends to be taught through a combination of lectures and site visits in addition to several actual projects and case studies.
A degree in this field allows you to develop a variety of skills required by employers in the real estate industry and beyond, with:
- The ability to manage and analyze complex data
- Effective communication (written, oral, visual and digital)
- Collaboration and team leadership
- Business planning and project management
- Customer service
- Time management and ability to work independently
- The use of information technology
- The ability to apply theory to practice.
Prepare for success
Property management is modest and progressively multifaceted, the future will require excellent presentation from practitioners, including generalized and continuous training. Many colleges and universities offer courses in real estate and property management, more and more are offering degrees in real estate, and a few are offering degrees in property management. Likewise, a bachelor’s or master’s degree in business administration or finance can provide an important educational basis in the field.
While a four-year college degree is not an option, two-year colleges and community colleges are possible substitutes and may offer high school programs, certificate programs in real estate, or continuing education programs in immovable. These can be great basics of education as they offer practical and applied knowledge.
Areas that support preparation for a career in property management include:
Develop analytical and IT skills, acquire knowledge of basic principles of finance and accounting
Acquire critical thinking and strong organizational skills, and acquire general business knowledge
Develop strong interpersonal skills and business management skills
Real estate or business law
To understand related legal issues
Develop strong written and oral communication skills
Develop critical thinking and strong organizational skills
Careers in property management are normally paid positions that include several other grants and aids. Initially, they can expect Rs 20,000 to 25,000 per month. An assistant property manager should expect to earn 40,000 to 50,000 per month. At the highest level, a property manager can earn a salary of 70,000 to 1 lakh per month and can expect an annual bonus as well as other benefits.
Today’s property manager is more than a person who maintains the building and collects the rent – he has a real and immediate influence on the quality of life.
The property management industry is looking for knowledgeable experts who are looking for this kind of opportunity:
- Those with an eye for detail and the ability to communicate with a variety of people
- Those who are tech-savvy and problem-solvers
- Those who already have strong skills but are looking to learn more through training and mentoring
The real estate industry attracts people with an entrepreneurial attitude who view challenges as opportunities and hard work as a stepping stone to advancement and success.
The ever-changing nature of the real estate industry has created and continues to create employment and career opportunities for those who are committed to continuous improvement, performance excellence and the highest quality. level of customer service. People entering or moving into the real estate industry have a wider and wider range of job expectations than ever before.
Cash compensation (the combined annual base salary and incentive bonus) for those entering the company depends on several factors, including, but not limited to:
- Geographical position
- Level of education
- Obtaining one or more professional diplomas
- The position and the main responsibilities of the position
- The industrial sector and the employer