Becoming a commercial property manager involves a combination of education, experience, specific skills and personal attributes. Here are five steps to guide you in pursuing a career in commercial property management:
- Education:
- The basic level of education required is Certificate IV Real Estate Practice, (formerly known as Agents Representative Certificate).
- A formal qualification such as bachelor’s degree in property/real estate, business/commerce, or a related field is highly regarded. In some companies, particularly client-side positions this is often an essential requirement.
- Industry Knowledge and Experience:
- If you have (or are undertaking) a formal qualification, graduate programs and internships provide excellent exposure to various industry career paths and long-term opportunities.
- For Certificate IV holders, entry-level, administration or assistant positions supporting commercial property management is the best way to gain practical experience. This will develop your knowledge of systems, processes, documents, terminology, legislations, etc., while developing key skills listed below.
- Develop Key Skills:
- Communication: Effective communication is an essential skill required to engage with various customers/tenants, landlords/owners, contractors, and other stakeholders. This includes written and verbal communication, along with professional presentation.
- Customer Service and Engagement: this is a critical aspect for all Property Managers to ensure customer/tenant retention in your properties and maintain relationships with your owners/landlords. You must provide timely responses, seek outcomes and solutions and resolve problems daily.
- Organisation and Time Management: Property Managers are required to handle multiple tasks and deadlines simultaneously, which requires their ability to prioritise tasks.
- Negotiation: Property Managers often negotiate lease agreements, maintenance contracts, and other matters that require mutual agreement by multiple parties.
- Familiarity with relevant software: Learn how to use property management software and other tools to streamline tasks such as financial reporting, customer communication, and maintenance tracking. The most popular in commercial property are MRI and Yardi.
- Positive Attitude: While you may not have all the required skills, your attitude and willingness to learn will be the key to getting your foot in the door with an employer who can see your potential through your behaviours.
- Build a Professional Network:
- Attend industry events: Join local and national real estate or property management associations, and network with professionals in the field. Networking can open up opportunities for mentorship, job opportunities, and partnerships. The Property Council of Australia is an excellent place to start with events and programs in each State.
- Join online communities: Follow companies, join property-related groups on social media and engage with Property Management professionals who can provide valuable insights and advice.
- Consider finding a mentor or a group of trusted people that you can go to for career advice and guidance.
- Advance Your Career:
- Pursue professional development: Along with completing a formal qualification, become a Licenced Real Estate Agent the Property Council provide short courses and certifications that can enhance your credibility and marketability.
- Seek advancement opportunities: As you gain experience, look for opportunities to take on more responsibilities or move into higher-level positions within commercial property management. This may involve managing larger properties or overseeing a team of property professionals.
Remember that the path to becoming a successful commercial property manager may vary, and continuous learning and adaptability are key to staying current in this dynamic field.