How to Become a Commercial Real Estate Manager
Step 1: Understand the job description and responsibilities of a Commercial Real Estate Manager
What does a Commercial Real Estate Manager do?
A Commercial Real Estate Manager manages associates soliciting and servicing a variety of real estate commercial loans. Offers guidance and support to commercial real estate loan officers. Being a Commercial Real Estate Manager works with highly complex loans such as investments, development, and construction. Authorizes loan requests after credit and appraisal evaluation. Additionally, Commercial Real Estate Manager typically requires a bachelor's degree. Typically reports to top management. The Commercial Real Estate Manager typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. To be a Commercial Real Estate Manager typically requires 3+ years of managerial experience.
These professionals are called commercial property managers, a title and reality that is a far cry from the “supers” of yesteryear.
Donald Trump has made a point of saying that college is near mandatory, but there are no nationwide educational requirements for becoming a commercial property manager.
Of course a person should have at least a high school diploma and some business experience, particularly in the areas of accounting and or real estate, sales experience may also be helpful.
Licensing in real estate also tends to offer more opportunities to the prospective manager, partially because real estate law and liability are fairly specific and can affect the viability of the project.
Depending on the size of the operation, the manager may have to make the notations him/herself, but there will often be additional staff in multi-property operations.
Step 2: Learn best tips to become a Commercial Real Estate Manager
Best tips for those who want to become a Commercial Real Estate Manager
Here are some tips to become a Commercial Real Estate Manager.
Be a Top Producer Among Commercial Real Estate Professionals.
Become an Expert in Selling Commercial Property.
Ask yourself a lot of questions up front.
Learn some commercial real estate vocabulary (and accept the learning curve).
Visit and consider many properties.
Step 3: View best colleges and universities for Commercial Real Estate Manager
Best colleges and universities for Commercial Real Estate Manager
- Florida Southern College
- Colby College
- Dartmouth College
- University of Notre Dame
- Western Washington University
- Canisius College
Step 4: Think about whether is it worth to be a Commercial Real Estate Manager
Is being a Commercial Real Estate Manager Worth it?
Enumerating a highly exhaustive outline of Commercial Real Estate Software Market size, this report is also inclusive of the total valuation that the Commercial Real Estate Software industry presently holds, a brief segmentation of this market and Commercial Real Estate Software market growth opportunities of this industry in addition to its geographical expanse.
This market report is a thorough analysis of the existing situation and the anticipated condition for Commercial Real Estate Software Market.
This research report represents a 360-degree overview of the competitive landscape of the Commercial Real Estate Software Market.
The research report analyzes the Commercial Real Estate Software Market in a detailed and concise manner for better insights into the businesses.
The report offers a holistic view of Commercial Real Estate Software market through systematic segmentation that covers every aspect of the target market.
Step 5: Prepare relevant skills for being a Commercial Real Estate Manager
What skills do you need to be a Commercial Real Estate Manager?
Due to the management level associted with this job, many skills are required to being successful and ensuring the success of your team. It is necessary to be able to excel with: Commercial Customer Development, Lending Regulatory Compliance, Real Estate Appraisal Review, Commercial Real Estate Lending, Loan Authorization. For management positions, some skills may come as a no brainer, for this role those would be: Banking Software. As you can tell, it is no easy feat to be a manager, and the skills required reflect that.
Requires a 4+ year course resulting in a Bachelor's degree in Business Administration, Real Estate, or a similar field of study, or a demonstrable equivalency in relevant experience.
Previous experience as a Real Estate Manager is a must.
3-5 years experience in property management of commercial real estate (industrial, office and/or retail) including handling property maintenance and repair, tenant improvements, tenant complaints, contracts, lease administration and enforcement.
In order to prepare for eventual promotion to a Real Estate Manager position, must hold valid real estate Brokers’ License in Oregon and Washington, minimally, plus any other state in which we are required to do so.
Every day, Property Managers must use their broad range of skills to face building challenges head on.
Step 6: View average salary for Commercial Real Estate Manager
How much does a Commercial Real Estate Manager make?
The average salary range for a Commercial Real Estate Manager is from $152,302 to $207,034. The salary will change depending on your location, job level, experience, education, and skills.
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Average salary for Commercial Real Estate Manager jobs
- Appraiser (Commercial Real Estate)
- Commercial Real Estate Lending Team Manager
- Commercial Real Estate Loan Officer II
- Commercial Real Estate Loan Officer I
- Commercial Real Estate Loan Officer III