A career in real estate management

If you’re like nearly every other person out there and are evaluating your career options, there are probably three principal questions that keep entering your mind about the careers you are considering:

• What would I do in the job?
• How would I get started in the field?
• How much could I expect to earn?

Just what is real estate management?
Real estate management is the administration, operation, marketing, and maintenance of real estate in order to achieve the objectives of the owner of that real estate. The work real estate managers perform varies greatly depending on the position they hold and the organization or company they work for, as well as the type of real estate they manage.

Specific jobs within the broader field of real estate management generally fall into three categories:

• Resident or site management
• Property management
• Real estate asset management

Organizations that employ real estate managers include:

• Property management firms.
• Full-service real estate companies.
• Development companies.
• Commercial banks.
• Real estate investment trusts.
• Corporations.
• Government agencies.
• Insurance companies.
• Mortgage brokerage firms.

While college education is not a requirement for beginning a career in real estate management, course work, particularly in business, can be extremely beneficial and can be used to satisfy the experience and knowledge requirements

The most common starting point in this field is working in various capacities in the real estate management office or on-site as maintenance workers or leasing agents and/or site managers. As these people learned more about the field and what it has to offer, they obtained additional training or coursework in the concerns of real estate management. Subsequently, they were able to begin moving into management positions.

Because property management is competitive and increasingly complex, the future will demand exceptional performance from practitioners, including extensive, never-ending education.

Some colleges and universities in Kenya today offer diploma and degree programs in real estate. That number will probably continue to grow in the coming years.
Some of the real estate programs are:

• Bachelor of Real Estate - University of Nairobi

• Diploma in Estate Agency and Property Management - University of Nairobi

Other courses you might want to take at the college/university level in preparation for a career in real estate management include:

• Finance and business courses — develop analytical and computer skills; gain knowledge of basic financial and accounting principles
• Management courses — develop strong interpersonal skills and business management skills
• Real estate law or business law — acquire an understanding of related legal issues
• Communication — develop strong written and oral communication skills
• Problem-solving skills — develop critical thinking and solid organizational skills