A Real Estate Operations Manager oversees the purchases and sales of properties for a business or private investors. They must be knowledgeable of tax laws, zoning laws and regulations, property values, demographics, and real estate trends in order to determine a property’s investment value. In addition, a Real Estate Operations Manager will do the negotiating for a property and draw up real estate contracts.
Real Estate Operations Management is a very specific field of OM. It deals with properties and someone in this position must know how to identify a good investment. However, more than just real estate knowledge is necessary. Real Estate Operations Managers must also be great negotiators, budgeters, and forecasters.
Day in the Life
Even though you are dealing with properties, you will spend most of your time in an office behind a desk. Your job will be first to locate good investments for a client or to analyze estate assets such as apartment or office buildings. Once you have determined the value of a property, you will need to write up reports and make predictions based on careful research. This is where knowledge of demographics and tax laws comes in. In many cases, the Real Estate Operations Manager doesn’t even visit the property- that is the job of the property manager. Instead, he/she deals with aspects of buying and selling. This is primarily a normal working hour’s job Monday through Friday.
Foremost, Real Estate Operations Managers are great negotiators and have wonderful communication skills. They speak with authority and clearly convey their demands. They are also class type A personalities with a knack for planning strategies, organizing information, and finances. Real Estate Operations Managers must also be creative when it comes to problem solving.
At least a bachelor’s degree in real estate, finance, business administration, accounting or related field is necessary for this position. Because competition can be tough, many companies are looking for candidates with Master’s degree and high grade point averages. Some companies give their Real Estate Operations Managers additional training in subjects like property management, tenant relations, real estate law, or similar.
Rate of Pay
The rate of pay heavily depends on the company or investor that the Real Estate Operations Manager works for. Generally speaking, the more money companies/investors are willing to spend and the more estate assets they have, the higher the profit margin. Yearly salaries range from $68k to $108k with the average salary at $98k. Real Estate Operations Managers can also expect very attractive bonuses.
A Real Estate Operations Manager may work for an individual investor, apartment complex owners, and companies with large estate assets, or any other sized business. However, this field is growing slowly compared to other jobs. Competition in the field is tough, especially for secure positions in large companies. Having a higher-level degree or certification and experience with managing senior housing and medical facilities will be a big leg up over the competition.
Operations Manager.com Staff
To learn more about various operations management careers, please go to our career section.