Real Estate Careers
Real Estate Career Descriptions From
NAIOP's 2008-2009 Compensation Report
Please note: The careers listed below are descriptions of the types of work found in the commercial real estate industry. They are not actual job openings at NAIOP.
Executive · Development · Financial
Asset Management and Acquisitions · Marketing · MIS/IT · Legal
Construction · Property Management · Brokerage and Leasing · Human Resources
Executive
Company's Chief Executive Officer (CEO). Has overall responsibility for guiding and directing all company operations and activities with the objective of achieving maximum profitability; establishes short- and long-term objectives, plans, policies, and standards. Reports to, and may be a member of, the Board of Directors.
Regional Head (multiple-office company). Accountable for investment results in a defined geographic region. Consistent with company asset strategies, establishes policies and oversees developments, construction, acquisitions, dispositions, leasing, property management, third-party management, and allied support functions. Reports to the COO or similar senior corporate officer.
Company's Chief Operating Officer (COO). Assists and supports the CEO in the overall direction of the company; establishes and implements operating procedures; plans and directs day-to-day operations and activities of the company; evaluates operating results for the CEO's review.
Development
Company's Development Head. Has overall responsibility for the company's development activities. Establishes and implements development policies and strategies to support company objectives; identifies and evaluates development opportunities. Specific responsibilities may include market evaluation, identifying and acquiring sites, financial or cost analysis of proposed projects, participation in financing negotiations, coordinating activities with construction executive, negotiating construction loans with prospective lenders. Generally reports to Chief Operating Officer.
Region/Division Development Head. Responsibilities are similar to those of the Development Head, but are limited to a specific region or division. Generally reports to the Company's Development Head or the COO.
Business Development Head. Responsible for identifying commercial development opportunities; keeps current regarding area office markets and office development needs; follows up on development leads and contacts; participates in selection of financial sources, structuring deals, negotiation of legal documents, architectural and construction planning. Resolves day-to-day problems, expedites, assures project completion according to specifications.
Senior Developer. Participates in commercial development activities. Has overall responsibility for assigned projects, often of a complex nature.
Developer. Participates in commercial development activities. Responsibilities generally limited to involvement in smaller or less complex projects than those of the Senior Developer.
Financial
Company's Chief Financial Officer. Responsible for the company's overall financial plans, policies and practices; plans and directs treasury, budgeting and forecasting, audit, tax planning and reporting, accounting activities. Develops and maintains relationships with banks and other sources of financing. Responsible for developing financing packages for development projects. Reports to CEO.
Company's Controller. Responsible for the company's accounting practices, maintenance of fiscal records, and preparation of financial reports. Responsibilities include budgeting, forecasting, financial analysis and financial control systems.
Regional Controller. Responsible for the financial reporting and budgeting of a specified company region. Responsible for cash management. Provides cash forecasting analysis and invests excess cash. Determines timing of vendor payments. Prepares financial statements and various analysis reports. Oversees all aspects of budget preparation. Prepares budget financial statements and overhead allocations. Typically reports to the Company Controller.
Financial Manager. Responsible for a portion of the company's or region/division's accounting practices, records maintenance, and preparation of financial reports. Supervises financial analysts. May be involved in the negotiation of agreements involving land and buildings. Participates in the long-term planning process. Typically reports to the Region/Division Financial Head or to the Company's CFO or Controller.
Senior Project Controller. Responsible for financial and accounting matters relating to one or more specific projects; supervises other project controllers; monitors all accounting activities, audits, tax reporting and payments, and cash management; prepares or coordinates preparation of budgets and financial reports. May assist CFO or Region/Division Financial Head in development project financing studies.
Project Controller. Responsible for financial and accounting matters relating to one or more specific projects; participates in assigned accounting activities, audits, tax reporting and payments, and cash management; may prepare or participate in preparation of budgets and financial reports. Assists in development of project financing studies as requested.
Financial Analyst. Responsible for providing financial analysis, development budgets, and accounting reports to management personnel. Evaluates present and proposed financial programs through statistical analysis and interpretation of short- and long-term trend data. Analyzes the financial feasibility of proposed development projects. Conducts market research to forecast and analyze trends of general business conditions. Analyzes the financial structure of proposed transactions. Participates in the review of new deals/transactions and coordinates with others in the development of a financial plan.
- Senior Financial Analyst. Works on the most complex projects.
- Financial Analyst. Works on projects of moderate complexity.
Asset Management and Acquisitions
Company's Chief Investment Officer. Coordinates the focus and objectives of the corporation's real estate development, leasing, asset management and property management departments while overseeing the administration, and restructuring as necessary, of the loan portfolio.
Company's Asset Management Head. Responsible for maximizing the performance and value of the company's portfolio of real estate assets which are owned and/or managed through acquisitions, dispositions, operations, etc. Has responsibility for formulating and implementing a long-range real estate asset management strategy.
Regional Asset Management Head. Responsible for strategic oversight of existing and potential real estate assets within a defined geographical region. Assesses options and opportunities and creates strategies, policies and processes to maximize returns on real estate. Recommends development, acquisition and disposition activities.
Acquisitions and Dispositions Head. Responsible for the activities of both Acquisitions Head and Dispositions Head.
Acquisitions Head. Responsible for identifying and analyzing acquisitions opportunities and negotiating transactions/packaging deals for clients, the company, or the business unit.
Dispositions Head. Responsible for identifying and analyzing disposition opportunities and negotiating transactions/packaging deals for clients, the company, or the business unit.
Asset Manager. Acts as owner's representative to formulate and implement the business plan objectives and approve budgets for each property in the asset manager's portfolio, and thereby create strategies to increase property values over time.
Marketing
Marketing Head. Responsible for generating and maintaining prospective tenants' interest; negotiating or participating in the negotiation of legal documents; coordinating the planning and construction/renovation of space with the Tenant Construction Coordinator; conducting advertising and promotional campaigns to ensure project exposure.
MIS/IT
Company's MIS/IT Head. Responsible for the company's computer information technology including strategic planning, application/systems development and computer operations. Develops the company's technologic architecture and standards. Develops and manages the company's MIS budget. Establishes and maintains strategic vendor relationships.
Legal
Company's Legal Head. Primarily responsible for reviewing the legal aspects of all financial documents and contracts; maintains familiarity with legal requirements in locations where the company is operating; serves as liaison with outside counsel.
Construction
Company's Construction Head. Responsible for establishing the company's engineering and construction standards for all construction and/or development projects; ensures that construction work meets or exceeds standards within cost estimates; provides technical advice and expertise regarding feasibility of proposed projects; monitors quality and quantity of work performed on projects in progress. Reports to Chief Executive Officer or Chief Operating Officer.
Regional Construction Head. Project manager for all phases of construction and build-out activities, from design through certificate of occupancy. Provides construction policy consulting to property managers and engineers and supports potential developments as well as acquisitions.
Business Unit Construction Head. Responsible for ensuring that the business unit's construction work meets or exceeds standards within cost estimates; provides technical advice and expertise regarding feasibility of proposed projects; monitors quality and quantity of work performed on projects in progress. Typically reports to Region/Division Construction Head or the business unit's head. (A Business Unit reports to a region/division or to the top real estate management. It has no subordinate business units reporting to it.)
Construction Project Manager. Responsible for overall direction of assigned construction projects, including review of and recommendations on planning and design, contract negotiations, day-to-day on-site progress and activities; may participate in obtaining relevant permits from local, state and government agencies. Has the highest level of responsibility for individual projects.
Tenant Construction Coordinator. Responsible for coordinating construction of tenant space within one or more facilities; provides periodic on-site supervision of tenant construction to ensure consistency with desires of owner; sets goals, reviews plans, obtains bids, estimates costs, inspects and approves completed project.
Property Management
Company's Property Management Head. Responsible for the operation and maintenance of all physical facilities owned or managed by the company, including establishing and monitoring budget, ensuring efficiency of physical plant, sustaining mechanical and cosmetic maintenance and preservation/renovation of facility, supervising contract services, maintaining good working relationships with tenants. Typically reports to Chief Executive Officer or Chief Operating Officer.
Regional Property Management Head. Responsible for the execution of asset strategies on a property-by-property level. Plans, organizes, directs, and controls employees and initiatives that promote optimal on-site management of Company assets as well as those managed for a fee on behalf of third-party owners. Creates property management policies and procedures. Establishes and maintains appropriate tenant relations.
Property Manager. Has operational responsibility of one or more properties. Responsibilities include collecting rents, maintaining grounds, interfacing with tenants, and preparing annual budgets. May have P&L responsibility. Property managers are typically on-site and may or may not have leasing responsibilities. Typically reports to Region/Division Property Management Head or to the Company's Property Management Head.
- Property Manager-1 million+ square feet.
- Property Manager-500,000-1 million square feet.
- Property Manager-Less than 500,000 square feet.
Assistant Property Manager. Assists the property manager with the day-to-day operations of the properties.
Facility Manager. Operates specific properties on a day-to-day basis. Directs contract work force for maintenance and operation of physical plant in such areas as janitorial work, electrical and mechanical systems. Maintains working relationship with tenants. Maintains emergency preparedness procedures.
Brokerage and Leasing
Company's Brokerage Head. Responsible for all commercial, industrial and land sales and commercial leasing activities of the company.
Regional Brokerage Head. Responsible for leasing company-owned and third-party owned space consistent with market parameters, tenant needs and asset strategies. May oversee activities of junior leasing individuals.
Broker. Responsible for negotiating and closing commercial, industrial and/or land sales and leasing deals.
Lease Administrator. Responsible for providing analysis and support for property management, facility planning, lease administration and financial reporting. Participates in real estate transactions including lease negotiation and administration. Conducts analyses of leased and owned properties. Provides budget, financial, and status reports to management. Tracks lease information, property values, capital expenditures, rental rates and real estate assignments.
Leasing Representative. Responsible for identifying and contacting prospective tenants; participates in or conducts lease negotiations for one or more new projects or for available space in existing projects.
Human Resources
Human Resources Head. Has overall responsibility for all aspects of human resources in the company. Develops, implements and evaluates personnel-related policy and programs. Responsibilities may include recruiting, training and development, employee and labor relations, compensation, benefits and performance management.
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