How to Become an Asset Manager in Real Estate
Real estate asset managers, also known as real estate investment managers, are responsible for managing and expanding real estate investment portfolios by increasing profit and minimizing risk. According to the Bureau of Labor Statistics, asset managers who worked in the "management of companies and enterprises" sector in 2010 earned an average of $115,520 a year. For such a high-paying job, an academic background is almost always required.
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Instructions
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Obtain the necessary education needed for a career in asset management. A bachelor's degree is needed at the very least, preferably in finance or a finance-related field such as economics or accounting. Some universities offer focused degrees in real estate, which combines real estate economics, real estate valuation and real estate finance into one specialized degree.
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Expand your education by taking a postgraduate degree. A postgraduate degree will give you a competitive edge in an already highly competitive field. If you are especially interested in real estate asset management, it is important to focus your postgraduate degree in real estate. A master's degree, or even an master's in business administration, in real estate is recommended.
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Boost your career prospects by taking up an internship with a real estate consultancy. Serve as an intern during or after your academic studies. Most of the major real estate consultancies have offices in most cities in the country, as they have to manage real estate assets in the local area. Internships can be highly competitive, so applying for a real estate management internship in your local area, instead of the larger cities, may increase your chances of acceptance.
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Apply for an entry-level position at a real estate consultancy. Your work experience as an intern and your educational background will give you a competitive edge. Most asset managers eventually become a member of a management association like the National Association of Real Estate Investment Managers, or NAREIM, or the Institute of Real Estate Management, which will expand your national and global network of professionals in your field.
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