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Real estate management specialist hiring summary. Here are some key points about hiring real estate management specialists in the United States:
Here's a step-by-step real estate management specialist hiring guide:
A real estate management specialist is in charge of developing strategies to optimize real estate operations, ensuring efficiency and smooth workflow. Their responsibilities revolve around overseeing the real estate operations, supervising staff, devising strategies to reach out to potential tenants, and liaising with contractors and other external parties. They may also participate in conducting risk assessments, evaluating lease applications, performing inspections, and producing progress reports and presentations. Furthermore, as a real estate management specialist, it is essential to coordinate with teams and implement the company's policies and regulations.
Before you post your real estate management specialist job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a real estate management specialist for hire on a part-time basis or as a contractor.
You should also consider the ideal background you'd like them a real estate management specialist to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a real estate management specialist that fits the bill.
Here's a comparison of real estate management specialist salaries for various roles:
| Type of Real Estate Management Specialist | Description | Hourly rate |
|---|---|---|
| Real Estate Management Specialist | Property, real estate, and community association managers take care of the many aspects of residential, commercial, or industrial properties. They make sure the property is well maintained, has a nice appearance, and preserves its resale or leasing value. | $31-62 |
| Property Administrator | A property administrator is responsible for performing administrative and clerical duties for real estate and property companies. Property administrators coordinate with prospective clients to inform them about the property and offers tours to give a better view of the location... Show more | $12-27 |
| Leasing Professional | A Leasing Professional is responsible for handling and coordinating with potential tenants for rental purposes. Leasing Professionals discuss the leasing terms and agreements with the clients, conduct property inspections, and identify possible repairs and renovations... Show more | $12-19 |
Including a salary range in your real estate management specialist job description helps attract top candidates to the position. A real estate management specialist salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.
For example, the average salary for a real estate management specialist in Hawaii may be lower than in Connecticut, and an entry-level real estate management specialist usually earns less than a senior-level real estate management specialist. Additionally, a real estate management specialist with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Maryland | $109,404 | $53 |
| 2 | Texas | $103,810 | $50 |
| 3 | California | $100,607 | $48 |
| 4 | Pennsylvania | $98,201 | $47 |
| 5 | Massachusetts | $98,013 | $47 |
| 6 | New Jersey | $96,957 | $47 |
| 7 | Delaware | $96,457 | $46 |
| 8 | Ohio | $94,572 | $45 |
| 9 | Tennessee | $93,803 | $45 |
| 10 | Indiana | $92,927 | $45 |
| 11 | Kentucky | $92,136 | $44 |
| 12 | New York | $91,018 | $44 |
| 13 | Iowa | $89,499 | $43 |
| 14 | Georgia | $88,879 | $43 |
| 15 | Alabama | $87,413 | $42 |
| 16 | Missouri | $86,193 | $41 |
| 17 | Oregon | $81,907 | $39 |
| 18 | South Carolina | $79,357 | $38 |
| 19 | Minnesota | $77,711 | $37 |
| 20 | Wisconsin | $77,292 | $37 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | $123,403 | $59.33 | 65 | |
| 2 | Buckeye Partners | $107,113 | $51.50 | |
| 3 | Verizon Communications | $101,974 | $49.03 | |
| 4 | Keller Williams Capital Properties | $101,927 | $49.00 | 5 |
| 5 | Roberts Brothers | $101,565 | $48.83 | |
| 6 | Guarantee Real Estate | $101,387 | $48.74 | |
| 7 | Keller Williams Realty Metro Atlanta | $101,381 | $48.74 | |
| 8 | Cressy & Everett Real Estate | $99,882 | $48.02 | 17 |
| 9 | Re/max Results | $99,135 | $47.66 | 11 |
| 10 | Lyon Real Estate | $99,086 | $47.64 | |
| 11 | Commerce Bank | $98,017 | $47.12 | 7 |
| 12 | Berkshire Hathaway | $97,290 | $46.77 | 2 |
| 13 | Woods Bros Realty | $97,165 | $46.71 | 6 |
| 14 | Semonin Realtors | $96,840 | $46.56 | |
| 15 | Comey & Shepherd | $96,717 | $46.50 | 5 |
| 16 | Intero Real Estate Services | $96,651 | $46.47 | |
| 17 | Carolina One New Homes | $96,617 | $46.45 | |
| 18 | Carpenter Realtors | $96,568 | $46.43 | 23 |
| 19 | Long Realty | $96,492 | $46.39 | |
| 20 | Ruhl&Ruhl Realtors | $96,436 | $46.36 |
A real estate management specialist job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a real estate management specialist job description:
To find the right real estate management specialist for your business, consider trying out a few different recruiting strategies:
During your first interview to recruit real estate management specialists, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've found the real estate management specialist candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
To prepare for the new real estate management specialist first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.
Recruiting real estate management specialists involves both the one-time costs of hiring and the ongoing costs of adding a new employee to your team. Your spending during the hiring process will mostly be on things like promoting the job on job boards, reviewing and interviewing candidates, and onboarding the new hire. Ongoing costs will obviously involve the employee's salary, but also may include things like benefits.
The median annual salary for real estate management specialists is $93,166 in the US. However, the cost of real estate management specialist hiring can vary a lot depending on location. Additionally, hiring a real estate management specialist for contract work or on a per-project basis typically costs between $31 and $62 an hour.