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What Is a Real Estate Facilities Manager?
A real estate facilities manager is responsible for maintaining the condition and sale/leasing value of residential, commercial or industrial properties. This individual is primarily concerned with the day-to-day upkeep of a property's facilities and utilities, such as structures, HVAC systems, plumbing, appliances, furniture, landscaping and energy management. Often, the facilities manager interacts directly with tenants/occupants and safety inspectors to handle emergencies, discuss new issues or resolve disputes.
Other responsibilities include coordinating custodial services and security measures; this person also handles any budgeting and documentation related to managing the property. A real estate facilities manager does not sell or lease real estate, but can be tasked with showing property to prospective buyers/renters, discussing leasing and occupancy terms or even collecting fees. Potential employers include property owners and developers, large corporations and real estate agencies.
|Educational Requirements||High school diploma; bachelor's degree or equivalent experience as a facility or property manager may be required|
|Job Skills||Strong interpersonal skills, including speaking and listening skills; the ability to coordinate, mediate and solve problems tactfully; financial aptitude and budgeting skills; practical experience in maintenance, cleaning and sundry repairs may be useful|
|Median Salary (2017)*||$58,670 (all property, real estate and community association managers)|
|Job Outlook (2016-2026)*||10% growth (all property, real estate and community association managers)|
Source: *U.S. Bureau of Labor Statistics
A real estate facilities manager does not necessarily need a bachelor's degree for employment. However, many companies will look for an employee who has demonstrated knowledge in commercial management or business administration, as the position may entail budgeting and financial reporting. Beyond that, having some practical work experience in facilities management is a common requirement; many facilities managers begin working in the field as an intern or assistant.
Foremost, real estate facilities managers must be excellent communicators. They interact with many people every day, from explaining issues with the property to its owners or tenants, to coordinating with contractors to ensure that these issues are resolved. Because they often have to settle disputes, the ability to communicate tactfully is a must. Sharp problem-solving skills are also important, whether they are troubleshooting maintenance issues or working out a new inspections schedule for a facility. The job is potentially physically strenuous, as real estate facilities managers can work long hours on site, checking in with contracted staff, examining reported issues, doing minor repair work or showing properties to potential buyers/leasers. Real estate facilities managers will most likely be in charge of managing the budget required to maintain the property, so practical financial skills are helpful.
Career Outlook and Salary
The United States Bureau of Labor Statistics (BLS) reports that job opportunities for property, real estate and community association managers should grow about 10% from 2016 to 2026, which is slightly faster than the projected 7% growth for all occupations. The BLS attributes this growth to an increased demand in managed properties, such as apartments and condominiums, planned communities, office complexes and shared common areas. In particular, we are expecting to see an increase in demand for those who have experience managing facilities related to elder care, such as retirement communities and healthcare facilities.
According to the BLS, the median salary for all property, real estate and community association managers was $58,670, or about $28.21 an hour, in 2017.