Also known as property management specialists, property specialists oversee an organization’s properties. They coordinate maintenance activities, recommend acquisitions and manage property leases. Other property specialists work for property management firms and consultancies where they counsel clients on a variety of residential, commercial and industrial property matters.
Doing the Work
Strong interpersonal and customer-service skills are essential for effective property specialists. They need to establish good working relationships with people they work with on a daily basis, such as repair and maintenance contractors, and provide excellent services to clients looking to rent or sell properties. Property specialists also use analytical skills to evaluate leasing or rental contracts and determine whether they meet a client's interests, and problem-solving skills to resolve disputes between property owners and tenants.
Property specialists working in consultancy firms give property advice to clients. For example, an investor looking to develop some land may ask a property specialist about the most profitable property to put up. The specialist may conduct market research to identify the properties that have a high demand, such as rental apartments, and advise the investor accordingly. These property specialists also may publish their research findings in industry magazines and websites.
It is the duty of a property specialist working in an organization such as a government agency to ensure all its properties are well-maintained and secure. For example, when the agency builds or acquires a new facility, the specialist arranges for safety inspections. These property specialists also handle maintenance contracts, arrange for purchase of new equipment, and supervise the activities of maintenance personnel. Property specialists working for property management firms find new clients, such as landlords, looking to lease properties.
Earning a bachelor's degree in business, real estate or finance is typically sufficient to secure a property specialist job. To buy or sell properties on behalf of clients, you must obtain a real estate license to practice in your state. Property specialists who secure relevant certifications from the National Association of Residential Property or the Institute of Real Estate Management and pursue a master's degree in business administration can improve their prospects of becoming a property manager in large firms.
In 2014, property specialists earned an average salary of $52,000, according to Simply Hired, an occupational resources website. The U.S. Bureau of Labor Statistics forecasts the employment of property management professionals to grow 12 percent from 2012 through 2022, slightly quicker than the estimated 11 percent average for all occupations.