Successfully Transitioning to Property Management
February 27, 2017
Real estate management is often an unexpected profession, but quickly becoming a career path for the millennial generation and a career shift for Generation X. For the newcomer, whether making a transition or just beginning their journey, what skills are necessary and where do they start? A handful of industry professionals offer their backgrounds and insider knowledge on what they consider prerequisites for real estate management.
There is an increasingly broad role to play in day to day operations, so possessing a wide range of skills is important in real estate management. A lawyer, salesperson, accountant, psychologist, teacher, financial advisor, IT troubleshooter, event planner, web designer, contractor, public relations representative – these are all professions with relatable real estate management skills that are implemented every day.
James Sinclair, CCIM, CPM, is a Property Manager for Brookfield Property Partners and went from producing and directing live television newscasts to managing office buildings. “You have to be flexible and willing to take a chance. I think it was my self-confidence in my ability to handle changing situations that helped me transition.
It’s All About Who You Know (It Really Is).
Networking is the number one way of discovering those hard to find, never advertised job opportunities. The phrase “it’s all about who you know” could never be truer when it comes to this industry. According to a report from ABC News, 80% of today’s jobs are landed through networking. This percentage of networkers represents smart jobseekers who understand that looking for and finding work takes...work. Being involved in professional real estate organizations is fundamental in a job search and for receiving the many benefits the commercial real estate industry has to offer.
Who Ya Gonna Call? Your Best Resource, of Course!
Commercial real estate is a fluctuating business yet companies are continuously searching for new and experienced industry talent. Whether office, multifamily or industrial, those who specialize in this field are invaluable to their investor or owner, particularly during an economic decline.
“I would spend time with someone you know who is currently in the field. Ask them what they like about what they do, and what they don’t like, or what they would change if they could. See if there is a professional organization that has information about a career in real estate. The more you talk with others who are actively doing what you want to do, the clearer picture you get of what it’s really like,” said Sinclair.
An Introduction to Property Management:
Because of the growing interest in real estate and property management, IREM developed an Introduction to Property Management course. It is a 3-hour, interactive course taught by a successful practitioner in the Houston real estate industry. The course provides an in-depth overview of the profession and is appropriate for career changers, real estate REALTORS, brokers, investors, students, and anyone interested in a career in real estate management. To learn more about this February class or any IREM Property Management courses, go to www.iremhouston.org.
About the Author: Erin Crowe is a property manager at NAI Partners and earned her Certified Property Manager® designation in 2016. Erin previously worked as a Assistant Manager for Brookffield Properties and as Property Manager for Parkway Properties.
Like this article? Consider attending the IREM Intro to Property Management Class on Thursday, March 2, 2017 at 8:30 a.m. More details here.