Real Estate Project Manager Job Description, Key Duties and Responsibilities
This post provides exhaustive information on the job description of a real estate project manager, to help you learn the work they do.
It highlights the key duties, tasks, and responsibilities commonly associated with the real estate project manager work description.
It also presents the major requirements you may be expected to fulfill if you are seeking the real estate project manager role.
Please, continue reading to increase your knowledge of the real estate project manager career:
What Does a Real Estate Project Manager Do?
A real estate project manager has the responsibility of financing, approving, and designing infrastructure, townhouse, condominium, and affordable housing developments and mixed-use community development projects.
His/her job description entails implementing and managing all aspects of the development of high quality affordable housing developments, from the earliest visioning stages through construction completion.
It also involves analyzing State and Federal Housing Programs to find markets for new development opportunities.
Real estate project managers provide high quality development management; managing financial objectives of the project and meeting project objectives.
They locate and analyze sites and obtain site control for new projects, if financially feasible and within proscribed project goals/metrics/size/location.
They develop and foster effective relationships internally and externally, including all third parties.
A real estate project manager is responsible for assessing financial feasibility of project development and operation, and conducting research on housing needs and market conditions for specific projects.
He/she is also responsible for managing the predevelopment activities and project financing tasks of development project, including affordable housing tax credit projects and other multi-family and mixed-use development projects.
If you are seeking the real estate project manager position, some of the requirements that employers/recruiters may want you to possess include self-motivation with an ability to work independently with minimal guidance and collaboratively in a team environment to manage multiple projects and deadlines.
Others include excellent leadership and communication skills, both verbal and written; organizational, planning, negotiation, and problem-solving skills.
You may also be expected to possess ability to travel, including overnight stays; proficiency level with Adobe and Microsoft Office (Word, Excel, PowerPoint); and strong interpersonal skills and an impeccable attention to detail.
Real Estate Project Manager Educational Qualifications
You will be required to show a proof of academic qualifications if you are searching for a real estate project manager role.
You are also required to build a strong portfolio with demonstrated skills and abilities for the real estate project manager job that you are seeking, so you can have the opportunity for an interview.
To qualify for a real estate project manager position, you need at least a Bachelor’s degree in Architecture, Community Development, or Business, or in a related field.
Real Estate Project Manager Salary Information
Glassdoor reported the average annual salary of real estate project managers to be $66,137.
Payscale recorded $85,000 as the median annual salary of real estate project managers; while Indeed reported $82,664.
Real Estate Project Manager Job Description Example/Sample/Template
Real estate project managers typically perform the responsibilities:
- Structuring and closing complex mixed-finance deals with multiple lenders, including managing due diligence process
- Serving as a primary point of contact with partner agencies, community organizations, political officials and funders in existing and new markets
- Collaborating with partner agencies and/or independently identifying potential sites and conducting due diligence around sites
- Managing design process to ensure compliance/waiver/approval by City, State, and Federal approval, financing sustainability, and design standards
- Preparing project feasibility analysis and making recommendations to the senior leadership team for advancing projects
- Managing construction bidding/pricing process for inclusion in the final project budget, and reviewing legal documents for structuring, risk management, and tax issues
- Assisting in negotiating pricing and other terms for the acquisition of property, and evaluating and helping secure zoning and other local government entitlements required for development
- Preparing and maintaining predevelopment budget, development budget, construction cost, operating budget, 30-year cash flow, project timeline, and other project underwriting
- Negotiating and drafting letters of intent (LOI) for purchase with sellers, and applying significant knowledge of LIHTC regulations and industry standards to proposals, applications, and closings, including legal and project document review, and day-to-day decisions
- Facilitating community and public agency support and approvals of master plan changes as will be required to adjust to the market, including zoning, permitting, and financing requirements.
Real Estate Project Manager Job Description for Resume
If you are making a new resume or CV and have worked previously as a real estate project manager or are presently working in that position, you should include the professional experience section in your resume.
By emphasizing the duties and responsibilities of real estate project manager position that you have successfully carried out in the professional or work experience part of your resume/CV, your resume will be more effective in getting you an interview.
Recruiters/employers will be more likely to give you an interview appointment from reading the professional experience part of your resume, especially if the new job that you are seeking requires candidates to have some work experience as a real estate project manager.
You can create a captivating professional experience section for your resume or CV by applying the sample real estate project manager job description above.
Real Estate Project Manager Requirements – Skills, Knowledge, and Abilities for Career Success
There are certain requirements recruiters/employers will want you to meet to be hired for a real estate project manager job. These include:
- Analytical and project management skills
- Oral communication and technical skills
- Written communication and teamwork skills
- Motivation and adaptability skills
- Leadership and initiative skills
- Language and mathematical skills
- Reasoning ability and computer skills
- Excellent interpersonal and multi-tasking abilities
This article is useful to individuals interested in the real estate project manager career.
They will be able to learn all they need to know about the duties and responsibilities that real estate project managers perform, and so will be able to decide if that is what they want to do.
Also, recruiters/employers who are looking to hire for the real estate project manager position in their organizations will find this post helpful.
They will be able to create a detailed description of the vacant real estate project manager job for use in finding the right candidates for the role by applying the job description example above.