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The differences between real estate management specialists and resident managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a real estate management specialist and a resident manager. Additionally, a real estate management specialist has an average salary of $93,166, which is higher than the $50,811 average annual salary of a resident manager.
The top three skills for a real estate management specialist include customer service, customer satisfaction and residential real estate. The most important skills for a resident manager are resident care, CPR, and medication administration.
| Real Estate Management Specialist | Resident Manager | |
| Yearly salary | $93,166 | $50,811 |
| Hourly rate | $44.79 | $24.43 |
| Growth rate | 3% | 3% |
| Number of jobs | 74,675 | 17,468 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 48% |
| Average age | 48 | 48 |
| Years of experience | 6 | 6 |
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.
A resident manager's role focuses on maintaining and supervising residential and rental properties, even hotels. Typically an in-house employee, it is a resident manager's responsibility to oversee all maintenance operations to ensure that the property is at optimal condition, assess staff's performance, prepare and manage budgets, and produce progress reports for the company or property owner. They mostly respond to inquiries from guests or tenants, even processing payments when necessary. Moreover, a resident manager may address issues and concerns, providing corrective measures while adhering to the policies and standards.
Real estate management specialists and resident managers have different pay scales, as shown below.
| Real Estate Management Specialist | Resident Manager | |
| Average salary | $93,166 | $50,811 |
| Salary range | Between $66,000 And $130,000 | Between $31,000 And $82,000 |
| Highest paying City | Baltimore, MD | New York, NY |
| Highest paying state | Connecticut | New York |
| Best paying company | Westinghouse Appliances Australia | |
| Best paying industry | Finance | Internet |
There are a few differences between a real estate management specialist and a resident manager in terms of educational background:
| Real Estate Management Specialist | Resident Manager | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 48% |
| Most common major | Business | Business |
| Most common college | University of Southern California | University of Southern California |
Here are the differences between real estate management specialists' and resident managers' demographics:
| Real Estate Management Specialist | Resident Manager | |
| Average age | 48 | 48 |
| Gender ratio | Male, 46.2% Female, 53.8% | Male, 39.6% Female, 60.4% |
| Race ratio | Black or African American, 8.8% Unknown, 4.1% Hispanic or Latino, 17.1% Asian, 5.3% White, 64.0% American Indian and Alaska Native, 0.6% | Black or African American, 8.4% Unknown, 4.1% Hispanic or Latino, 17.2% Asian, 5.2% White, 64.4% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 12% | 12% |