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Posted On: January 8, 2018 by Henry R. Steele

The following article discusses the career path of Real Estate Manager. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Real Estate Managers.

Job Duties

Real estate managers are responsible for ensuring that real estate properties are properly managed. This means that they coordinate the various administrative tasks that encourage growth in the company, that they communicate and negotiate with clients, that they create leases and renew them, and more. They have an in-depth understanding of local real estate demographics, as well as contract terminology, which means they can advise employers, buyers, and sellers alike in terms of their real estate decisions.

They also look at expenses and revenues, valuations, and customer inquiries. They respond to the questions tenants may have in a timely, professional way. They work with technical staff to put solutions in place, arrange property inspections, write reports, help with marketing, and are a first point of contact for property owners. They create a lease analysis of the market, monitoring what other brokers are doing. They also ensure that all legal notices are sent out and that rent is collected properly. Furthermore, they must follow confidentiality procedures at all times.

Other job duties of a real estate manager are:

  • To review and analyze data in order to create real estate property reports
  • To oversee and supervise appearance and maintenance standards
  • To ensure that all lease terms are complied with
  • To identify and resolve problems on site
  • To deal with all entity level financials, project financials, and taxes in a timely manner

Where We Work

According to the U.S. Bureau of Labor Statistics, there were 317,300 property, real estate, and community association managers in 2016. The largest employers of these professionals were:

  • Real estate: 45%
  • Self-employed workers: 42%
  • Civic, social, professional, and similar organizations: 3%

How to Become

A real estate manager usually holds a bachelor’s degree with a property management or related major. They often have significant experience in managerial roles. They must also be able to demonstrate that they can work independently, while being strong team players at the same time.

Education Requirements

A real estate manager is usually required to hold at least a bachelor’s degree. That said, it is not unheard of for someone to enter the field of property management with a high school diploma and to grow from there. College graduates are certainly in higher demand, because they have an in-depth understanding of contract management and property finances. Popular majors for real estate managers include public administration, real estate, finance, accounting, and business administration.

Work experience is also very important and most real estate managers have worked in the field for several years. Usually, they come from a real estate sales background. That said, others have more technical backgrounds, such as in property maintenance.

If a real estate manager wishes to buy or sell property, they must be licensed to do so in their state. If they manage public housing that receives federal government subsidies, they must also be certified. In certain states (the District of Columbia, Virginia, Nevada, Illinois, Hawaii, Georgia, Florida, Delaware, and Alaska), they must also be licensed or hold professional credentials. Certifications are offered through the Communication Association Managers International Certification Board, the National Association of Residential Property Manager, the Institute of Real Estate Management, the Community Associations Institute, and BOMI International. All are usually valid for a limited time only and must be renewed periodically.

Real estate managers may also have to complete additional training as it relates to their particularly employer. For instance, they must learn how to operate certain mechanical systems, how to conduct risk assessments, or what different accounting principles are. Some of these training sessions also lead to certification. Usually, however, the real estate manager must be sponsored by their employer in order to be able to take part in this training.

Traits & Qualities

The most effective real estate managers have the following traits to some degree or other:

  • Excellent communication skills, both verbal and written
  • Strong customer service skills
  • Great interpersonal skills
  • Excellent listening skills
  • Strong organizational skills
  • Great problem solving skills

Minimum Education

Bachelor’s Degree

National Salary

The national average salary estimate for Real Estate Manager was $76,119. This number is estimated from over 2,160,824 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $39.65 and monthly of $6,343.

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$14,000

$192,000

Salary Distribution

Salary by State

The following section lists Real Estate Manager salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Vermont had the largest quoted salary of $144,000 while North Dakota had the smallest quoted salary of $25,440.

Alaska Idaho Montana Rhode Island
Alabama Illinois North Carolina South Carolina
Arkansas Indiana North Dakota South Dakota
Arizona Kansas Nebraska Tennessee
California Kentucky New Hampshire Texas
Colorado Louisiana New Jersey Utah
Connecticut Massachusetts New Mexico Virginia
DC Maryland Nevada Vermont
Delaware Maine New York Washington
Florida Michigan Ohio Wisconsin
Georgia Minnesota Oklahoma Wyoming
Hawaii Missouri Oregon
Iowa Mississippi Pennsylvania
Alaska$51,422 Rank: 42nd

The average salary ranks 42nd among states in the country. There were also job openings from employers like Alaska USA FCU.

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$14,000

$132,000

Salary Distribution
Alabama$48,203 Rank: 44th

The average salary ranks 44th among states in the country. There were also job openings from employers like Aspire Staffing / Job Konnections, PANGEATWO, Larkspur Properties, LP, and Vaco, LLC.

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$14,000

$131,000

Salary Distribution
Arkansas$46,836 Rank: 47th

The average salary ranks 47th among states in the country. There were also job openings from employers like Crye-Leike Realtors, Limbird Team, Walmart, and REI Investor.

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$14,000

$124,000

Salary Distribution
Arizona$60,994 Rank: 37th

The average salary ranks 37th among states in the country. There were also job openings from employers like Sonja Cotton & Associates, LLC, Aerotek, Brett Tanner Home Selling Team, and Robert Half.

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$14,000

$154,000

Salary Distribution
California$86,479 Rank: 6th

The average salary ranks 6th among states in the country. There were also job openings from employers like Coldwell Banker, Morris Williams Corporation, Accounting Career Network, and Renatus.

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$16,000

$212,000

Salary Distribution
Colorado$76,027 Rank: 17th

The average salary ranks 17th among states in the country. There were also job openings from employers like Renatus, Integritas Consulting Group, Inc., Real Estate Investor Training & Education, and Home Buyers Of Denver.

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$16,000

$180,000

Salary Distribution
Connecticut$77,483 Rank: 14th

The average salary ranks 14th among states in the country. There were also job openings from employers like Northbound Search, Robert Half Finance & Accounting, Kristina Zack & Associates- Keller Williams Realty, and Robert Half.

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$14,000

$198,000

Salary Distribution
DC$80,832 Rank: 9th

The average salary ranks 9th among states in the country. There were also job openings from employers like Hays, Inter-American Development Company, United States Postal Service, and Robert Half Finance & Accounting.

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$17,000

$191,000

Salary Distribution
Delaware$56,999 Rank: 41st

The average salary ranks 41st among states in the country. There were also job openings from employers like The Oldfather Group of Ocean AtlantiC Sotheby's International Realty.

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$14,000

$136,000

Salary Distribution
Florida$68,313 Rank: 23rd

The average salary ranks 23rd among states in the country. There were also job openings from employers like Triumph Staffing, Morris Williams Corporation, National Real Estate Investment Company, and ToMary Group.

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$14,000

$178,000

Salary Distribution
Georgia$69,824 Rank: 19th

The average salary ranks 19th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, CyberCoders, Marketing Enterprise Company, Inc., and National Real Estate Investment Company.

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$14,000

$176,000

Salary Distribution
Hawaii$58,871 Rank: 40th

The average salary ranks 40th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Staffing Solutions of Hawaii, and REI Associates.

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$14,000

$141,000

Salary Distribution
Iowa$65,532 Rank: 29th

The average salary ranks 29th among states in the country. There were also job openings from employers like CBSHOME Real Estate, Ranatis, Renatus, and EPIC SOLUTIONS.

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$14,000

$157,000

Salary Distribution
Idaho$66,662 Rank: 25th

The average salary ranks 25th among states in the country. There were also job openings from employers like Real Estate Brokerage Firm, MAXX, LLC, IDAHO DEPT. OF LABOR, and Hughes Real Estate Group of Silvercreek Realty Group.

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$21,000

$137,000

Salary Distribution
Illinois$69,402 Rank: 21st

The average salary ranks 21st among states in the country. There were also job openings from employers like Michael Page, Real Estate Investing Group, TTC Group, and real estate investors.

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$14,000

$170,000

Salary Distribution
Indiana$47,403 Rank: 46th

The average salary ranks 46th among states in the country. There were also job openings from employers like Accounting Principals, Carter-Brinley Group, Keller Williams Realty, and m.s.Woods Real Estate, LLC.

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$14,000

$129,000

Salary Distribution
Kansas$30,124 Rank: 49th

The average salary ranks 49th among states in the country. There were also job openings from employers like M.T. Phoenix Investments, The Roy Group – Team Real Estate, Client Services Inc., and Barney & Associates Keller Williams Signature Partners LLC.

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$7.25

$38.85

Salary Distribution
Kentucky$66,652 Rank: 26th

The average salary ranks 26th among states in the country. There were also job openings from employers like Carter-Brinley Group, Ranatis, Berkshire Hathaway HomeServices de Movellan Properties, and TalentServed.

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$14,000

$179,000

Salary Distribution
Louisiana$63,318 Rank: 33rd

The average salary ranks 33rd among states in the country. There were also job openings from employers like National Real Estate Investment Group, Coldwell Banker, National Real Estate Investment Company, and Frazee Recruiting Consultants, Inc..

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$14,000

$182,000

Salary Distribution
Massachusetts$82,820 Rank: 8th

The average salary ranks 8th among states in the country. There were also job openings from employers like PMG Employment Consultants, Ploeger Recruiting Services, Key Realty Group, and Michael Page.

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$20,000

$186,000

Salary Distribution
Maryland$76,369 Rank: 16th

The average salary ranks 16th among states in the country. There were also job openings from employers like Michael Page, Robert Half, Robert Half Finance & Accounting, and RE/MAX Components.

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$14,000

$190,000

Salary Distribution
Maine$77,547 Rank: 13th

The average salary ranks 13th among states in the country. There were also job openings from employers like REI Investor.

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$14,000

$229,000

Salary Distribution
Michigan$77,669 Rank: 12th

The average salary ranks 12th among states in the country. There were also job openings from employers like Villegas Group, Parker and Lynch, WHITEBROOK INVESTING, and EctoHR, Inc..

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$14,000

$194,000

Salary Distribution
Minnesota$30,700 Rank: 48th

The average salary ranks 48th among states in the country. There were also job openings from employers like Metropolitan Council, CBRE, State of Minnesota, and Advent Talent Group.

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$7.25

$40.70

Salary Distribution
Missouri$65,120 Rank: 31st

The average salary ranks 31st among states in the country. There were also job openings from employers like Renters Warehouse, Coldwell Banker, One West Associates, Inc., and Alexander Forrest.

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$14,000

$170,000

Salary Distribution
Mississippi$47,784 Rank: 45th

The average salary ranks 45th among states in the country. There were also job openings from employers like Local Real Estate Firm and REI Investor.

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$14,000

$133,000

Salary Distribution
Montana$69,820 Rank: 20th

The average salary ranks 20th among states in the country. There were also job openings from employers like State of Montana, LC Staffing, Ranatis, and REI Investor.

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$22,000

$145,000

Salary Distribution
North Carolina$65,030 Rank: 32nd

The average salary ranks 32nd among states in the country. There were also job openings from employers like Carolina Real Estate Experts; The Dan Jones Group, Nationwide Business Development Group, Marketing Rei, and National Real Estate Investment Company.

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$14,000

$168,000

Salary Distribution
North Dakota$25,440 Rank: 50th

The average salary ranks 50th among states in the country. There were also job openings from employers like REI Investor and Strategic Asset Services, LLC..

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$7.25

$22.60

Salary Distribution
Nebraska$66,487 Rank: 27th

The average salary ranks 27th among states in the country. There were also job openings from employers like CBSHOME Real Estate, Cornerstone Staffing Inc., Echo Studios Incorporated, and Douglas County, NE.

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$18,000

$144,000

Salary Distribution
New Hampshire$49,261 Rank: 43rd

The average salary ranks 43rd among states in the country. There were also job openings from employers like Berkshire Hathaway HomeServices Verani Realty, Fine Homes Group @ Keller Williams Metropolitan, and REI Investor.

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$14,000

$106,000

Salary Distribution
New Jersey$76,655 Rank: 15th

The average salary ranks 15th among states in the country. There were also job openings from employers like Town Gurus Realty, Robert Half Finance & Accounting, Professional Search Network, and Coda Search.

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$17,000

$178,000

Salary Distribution
New Mexico$86,937 Rank: 5th

The average salary ranks 5th among states in the country. There were also job openings from employers like Renatus, REI Investor, and Pikes Peak Business Development Group.

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$14,000

$222,000

Salary Distribution
Nevada$60,024 Rank: 38th

The average salary ranks 38th among states in the country. There were also job openings from employers like Ranatis, Flat Rate Realty of Nevada, LLC, Quick Pic Tours, and real estate investment company.

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$14,000

$153,000

Salary Distribution
New York$100,441 Rank: 3rd

The average salary ranks 3rd among states in the country. There were also job openings from employers like your own, Essential Associates, Ltd, Henderson Harbor Group, and EY.

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$20,000

$241,000

Salary Distribution
Ohio$62,967 Rank: 35th

The average salary ranks 35th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Xabai Web, The Greater Cleveland Regional Transit Authority, and Endevis.

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$14,000

$148,000

Salary Distribution
Oklahoma$59,629 Rank: 39th

The average salary ranks 39th among states in the country. There were also job openings from employers like Titan Factory Direct, CyberCoders, Carter-Brinley Group, and My Renatus.

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$14,000

$155,000

Salary Distribution
Oregon$69,092 Rank: 22nd

The average salary ranks 22nd among states in the country. There were also job openings from employers like Portland Development Commission, The Paulsen Group, Keller Williams Realty, and The Rian Group.

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$14,000

$165,000

Salary Distribution
Pennsylvania$66,447 Rank: 28th

The average salary ranks 28th among states in the country. There were also job openings from employers like Kforce Finance and Accounting, PeopleShare, O'Neill Properties Group, and National Real Estate Investor Group.

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$14,000

$181,000

Salary Distribution
Rhode Island$84,624 Rank: 7th

The average salary ranks 7th among states in the country. There were also job openings from employers like Renatus and Shoreham Property.

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$22,000

$188,000

Salary Distribution
South Carolina$71,974 Rank: 18th

The average salary ranks 18th among states in the country. There were also job openings from employers like Weichert Realtors Palmetto Coast, Sloan Realty Group, AppleOne, and Keller Williams Realty.

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$14,000

$192,000

Salary Distribution
South Dakota$95,821 Rank: 4th

The average salary ranks 4th among states in the country. There were also job openings from employers like REI Investor and real estate investors.

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$18,000

$236,000

Salary Distribution
Tennessee$62,982 Rank: 34th

The average salary ranks 34th among states in the country. There were also job openings from employers like Hanley Wood, The Hadden Group, Crye-Leike Realtors, and Jim Griffin Team.

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$14,000

$170,000

Salary Distribution
Texas$68,130 Rank: 24th

The average salary ranks 24th among states in the country. There were also job openings from employers like Deacon Recruiting, RealEstateAuctions.com, National Real Estate Investment Company, and Morris Williams Corporation.

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$14,000

$177,000

Salary Distribution
Utah$80,412 Rank: 10th

The average salary ranks 10th among states in the country. There were also job openings from employers like Real Estate Investing, Phoenix Investments, Ngata Real Estate Investments, and Real Estate Wealth Creation.

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$21,000

$177,000

Salary Distribution
Virginia$65,356 Rank: 30th

The average salary ranks 30th among states in the country. There were also job openings from employers like Chantel Ray Real Estate, Vision Cellular, City of Norfolk, VA, and Renatus.

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$14,000

$165,000

Salary Distribution
Vermont$144,000 Rank: 1st

The average salary ranks 1st among states in the country. There were also job openings from employers like Devonwood Investors LLC and REI Investor.

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$6,000

$18,000

Salary Distribution
Washington$78,768 Rank: 11th

The average salary ranks 11th among states in the country. There were also job openings from employers like Redefy Real Estate, Gynesys, Inc, Venture Real Estate Group, and Donna Roberts Group, LLC.

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$17,000

$184,000

Salary Distribution
Wisconsin$61,814 Rank: 36th

The average salary ranks 36th among states in the country. There were also job openings from employers like Freedom Family Investments, Ranatis, Robert Half Finance & Accounting, and PHOTOWEB USA.

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$14,000

$158,000

Salary Distribution
Wyoming$133,920 Rank: 2nd

The average salary ranks 2nd among states in the country. There were also job openings from employers like First Interstate Bank and REI Investor.

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$4,800

$20,000

Salary Distribution

Top 20 National Employers

According to Indeed.com, the following states had employers looking to hire a Real Estate Manager. The quoted salary figure represents the average salary from all job postings by this employer.

Employer Name Location Average Salary

Learn More

Related Careers

Career Name Average Salary
Henry R. Steele
Henry R. Steele
Managing Editor
Henry is Managing Editor of BusinessStudent.com. He is a seasoned business professional who regularly consults with local business's throughout Southern California. Henry pursued his undergrad in Business and Economics at the University of San Diego and gained valuable life changing experience through a unique internship upon graduation.Follow on Twitter.com

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