Common Q&A

Find answers to commonly asked questions and learn more about what property managers can offer you. Choose an area of management, or a question category using the Q&A box on the right.

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Can property and real estate managers help me develop property?

Yes. Property and real estate managers who work for homebuilders, real estate developers, and land development companies acquire land and plan construction of shopping centers, houses, apartments, office buildings, or industrial parks. They negotiate with representatives of local governments, other businesses, community and public interest groups, and public utilities to eliminate obstacles to the development of land and to gain support for a planned project. It sometimes takes years to win approval for a project and, in the process, managers may have to modify plans for the project many times. Once cleared to proceed with a project, managers may help to negotiate short-term loans to finance the construction of the project, and later negotiate long-term permanent mortgage loans. They then help to choose, assist, and advise the architectural firms that draw up detailed plans and the construction companies that build the project. Resourcefulness and creativity in arranging financing are essential for managers who specialize in land development.

How can a real estate asset manager help me if I'm thinking about purchasing investment property?

When deciding to acquire property, real estate asset managers take several factors into consideration, such as property values, taxes, zoning, population growth, transportation, and traffic volume and patterns. Once a site is selected, they negotiate contracts for the purchase or lease of the property, securing the most beneficial terms. Real estate asset managers periodically review their company's real estate holdings and identify properties that are no longer financially profitable. They then negotiate the sale of or terminate the lease on such properties. Real estate asset managers must be good negotiators, adept at persuading and handling people, and good at analyzing data in order to assess the fair market value of property or its development potential.

What is a real estate asset manager? Do property managers ever give advice on selecting and purchasing investment properties?

Some property and real estate managers, often called real estate asset managers, act as the property owners' agent and adviser for the property. They plan and direct the purchase, development, and disposition of real estate on behalf of the business and investors. These managers focus on long-term strategic financial planning rather than on day-to-day operations of the property.