Corporate Real Estate Careers Information
Corporate real estate professionals manage the portfolios of property held by their company or organization. A company’s real estate portfolio may include its corporate headquarters, manufacturing facilities, retail outlets, branch offices, and any other property owned by the organization.
Corporate Real Estate Careers & Degrees
- South University: Online
Corporate real estate professionals are responsible for long-range planning of property strategies, the acquisition of new properties for branch offices or facilities, and the administration of new and existing buildings and facilities.
Corporate real estate workers seek to minimize costs while maximizing the utility their employers derive from their buildings and properties. They analyze market conditions in different areas and devise strategies for acquiring–or selling–properties.
Corporate real estate professionals differ from property or building managers in that they do not directly administrate to individual buildings, nor do they plan programs specifically designed to cut costs in a particular building. Rather, corporate real estate professionals are in charge of making sure the organizations entire collection of properties are sound, economically.
Corporate Real Estate Careers Path
As real estate transactions have become more and more complex, it has become nearly impossible to be competitive for any real estate position without a bachelor’s degree, and corporate real estate is certainly no exception.
In fact, as corporate real estate professionals must often oversee large collections of commercial, industrial, and office property–and the legal agreements and regulatory guidelines that accompany them–college training is often crucial.
Corporate real estate professionals can hold degrees in a range of specialties, but most focus on business administration, finance, statistic, economics, or law.
It is certainly preferable that those seeking to enter the corporate real estate world try to take as many real estate courses as possible during their college years, though seeking a college offering degrees specifically in real estate is often not necessary.
Corporate Real Estate Careers: Compatible Personality Traits
Excellent communications skills, both written and oral, professional demeanor and appearance, ability to work well with a wide range of people, strong analytical and quantitative abilities, very detail oriented, ability to quickly learn and follow complex codes and procedures
Corporate Real Estate Careers: Salary Expectations
Corporate real estate associates without many years of experience often earn between $65,000 and $124,000 annually. Experienced corporate real estate managers, overseeing teams of analysts and managing large portfolios, can expect to earn between $127,000 and $172,000.
The top corporate real estate managers can expect to earn even heftier salaries, with most earning between $157,000 and $254,000 annually.
Corporate Real Estate Careers: Job Outlook
Job prospects for real estate positions are expected to rise slightly faster than average for the next decade. According to the Bureau of Labor Statistics, the field is projected to grow by 14%. The exact number of positions, and the industries in which they arise, will be heavily dependent on the condition of the economy and the market.
While overall employment is expected to rise, competition for higher-paying jobs will be fierce, and workers with diverse education and experience and excellent credentials will have an advantage.
Slightly Off the Footpath
Sources: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2010-11 Edition, Psychologists, on the Internet at http://bls.gov/oco/ocos120.htm (visited November 8, 2011); salary.com
