How to Become a Corporate Real Estate Manager – The 5 Steps to Success

In real estate, there are so many career paths that you can take. 

And if you have years of real estate experience under your belt, then you can aim for higher roles.

One of these roles is a corporate real estate manager. 

Corporate real estate managers have lots of responsibilities, including, of course, managing the sale and development of corporate properties. 

If you’re up for the challenge, we show you how to become a corporate real estate manager here. 

We’ll walk you through the following: 

• What exactly do corporate real estate managers do
• The steps on how to become a corporate real estate manager
• The pros and cons of becoming a corporate real estate manager
• Frequently asked questions on salaries, important skills, and more. 

Okay, let’s get to it!

What Exactly Do Corporate Real Estate Managers Do?

From the name itself, you can already hint that you’ll be managing real estate properties for big companies. 

But what will you manage? 

Here are just some tasks you’ll be responsible for:

• Help monitor the company’s real estate income and expenses
• Oversee collection of payments 
• Authorize and manage maintenance, repair, and supply expenses
• Negotiate contracts with stakeholders (vendors, suppliers, contractors, etc.)
• Resolve complaints from vendors, buyers, or sellers
• Monitor and prepare financial statements and records of the properties or portfolio of properties
• Inform stakeholders on taxes and other financial obligations
• Determine, craft, and negotiate lease agreements
• Provide portfolio analysis and strategies
• Ensure loan requests are analyzed and evaluated properly
• Authorize loan requests after credit appraisal
• Manages a team that executes daily operational tasks for the properties
• Ensures that department and team goals are met

Yes, the task demands can be heavy and daunting.

This is why you need proper education, preparation, and a career track to become a mortgage real estate manager. 

The 5 Steps on How to Become a Corporate Real Estate Manager

Here are the 5 steps to becoming a corporate real estate manager: 

1. Complete the necessary real estate coursework 
2. Fulfill state requirements to get your real estate license
3. Get hired by a real estate company and climb up the ranks
4. Get certifications to improve your credentials
5. Apply as a corporate real estate manager

Let’s go over these steps one by one. 

Step #1: Complete the Necessary Real Estate Coursework 

Like any profession, you need to be equipped with the right knowledge to do your job well. 

This is why the start of your corporate real estate manager career is to complete the educational requirements to become a real estate professional.

Most — if not all — companies require corporate real estate managers to have a bachelor’s degree. 

And since you’re taking on a bigger role, you’ll probably need additional courses in real estate, such as real estate management. 

Of course, each company looks for something different. 

On top of that, each state has its own requirements. 

But no matter where you choose to practice, here are the minimum qualifications to become a corporate real estate manager: 

• Have a bachelor’s degree (not all companies require real estate degrees, but will prefer business and management related-courses)
• Complete a real estate license coursework (some companies might ask for your grades)

For courses you can take, here are the most important ones:

• Risk Management
• Property Management
• Finance
• Business Administration
• Real Estate

Step #2: Fulfill State Requirements to Get Your Real Estate License

The next step is to check what your state’s requirements are to become a real estate manager. 

For some states, different types of properties require different certifications, educational requirements, and real estate exams. 

So make sure that you are clear on which state you want to practice in and start checking the requirements. 

But here’s a heads up. 

Most states require you to obtain a real estate broker license before you can apply as a real estate manager. 

And to get this license, you need to enroll in state-approved real estate broker programs and take the real estate broker exam. 

Other specific requirements you need to watch out for are background checks and fingerprinting, reporting criminal history, and paid application fees.

Once you have the proper real estate license, you can start gaining experience. 

Step #3: Get Hired by a Real Estate Company and Climb Up the Ranks

Congratulations! 

The rigorous parts are over and you can finally begin your career in real estate.

Mind you — you’re still far from being a corporate real estate manager. 

But at least you can start working already. 

Now, there are several ways you can find job opportunities. 

1. You can get to know real estate agents and companies in your area first, so it’s more convenient for you to reach out and learn from them. 

2. You can search job boards online and job postings of your desired firms to make the hunt faster. 

3. You can check with your state’s board if they can connect you to real estate companies within your area.

Since your goal is to become a corporate real estate manager, you will have to start from the bottom and learn your way up. 

You can start as a real estate assistant, or a real estate agent or broker. What’s important is that you begin your journey in the industry and get the experience you’ll need for the future.

Make sure you get to learn and excel in the following areas for you to become a top corporate real estate manager candidate:

• Commercial Customer Development
• Lending Regulatory Compliance
• Real Estate Appraisal Review
• Commercial Real Estate Lending
• Loan Authorization
• Supervisory experience (at least 1 year)

Step #4: Get Certifications to Improve Your Credentials

Get this. 

Companies aren’t just going to hire you as their corporate real estate manager. 

You need to prove your worth. 

And for most big companies, this means:

• Bachelor’s degree and other real estate courses
• Years of experience in the real estate, business, or finance world
• Specific certifications that relate to corporate real estate management 

It’s this last point that we’re going to focus on now. 

There are 4 types of certifications that you can consider…

National Apartment Leasing Professional

This is for entry-level positions in management companies, such as leasing agents. To get this certification you need to:

• Have at least 6 months of onsite property management experience
• Have a provisional certification showing 6 months’ worth of experience
• 25 credit hours on NALP courses
• Accomplish all requirements within 12 months of application

Certified Apartment Manager (CAM)

Aside from finding tenants for clients, a CAM will also interact with and manage tenants on a daily. 

Here are the requirements:

• Have at least 6 months of onsite property management experience
• Have a provisional certification showing 12 months’ worth of experience
• 40 credit hours on NALP courses
• Accomplish all requirements within 12 months of application

Certified Property Manager (CPM)

This is a highly regarded designation for property managers. 

You need this certification if you want to handle bigger portfolios, such as managing a whole corporation. 

For CPM requirements, you need to:

• Have at least 3 years of onsite property management experience
• Have a real estate license
• Complete 19 out of the 36 CPM requirement activities
• Accomplish all requirements within 12 months of application

Master Property Manager (MPM)

The highest level of distinction amongst all is the MPM. 

To get this certification, you’ll need to meet the following:

• Consecutive onsite property management experience for at least 5 years
• Manage at least 500 residential units at 1 or more sites or 100 units at 5 or more sites

With any of these certifications, you will have a great resume to present to the company you want to work for as a corporate real estate manager. 

Step #5: Apply as a Corporate Real Estate Manager

After at least 5-10 years of experience, you can now apply as a corporate real estate manager!

Now, it’s up to you to gauge whether or not you’re ready, or that you have what it takes to do the job. 

Remember, being a corporate real estate manager is a HUGE role. 

Expect a big shift since you’ll no longer be an individual contributor — you’re now a people manager. You’ll be expected to give direction, lead a team, and manage bigger projects and responsibilities for the company.

If you feel you’re ready, then go out there and start applying as a corporate real estate manager for BIG companies. 

Make sure you look into their specific requirements and provide your arsenal of experience and certifications.  

Frequently Asked Questions About Corporate Real Estate Managers

How Much Do Corporate Real Estate Managers Earn?

According to ZipRecruiter, The US average annual salary for corporate real estate managers is $103,832 a year (as of June 2023).

THAT’S A LOT!

So as a corporate real estate manager, expect the salary to fall between $66,000 to $134,500 a year. 

Of course, your salary will depend on the company you work for, your experience and certification, the location, the number of managed properties, and all that. 

But the bottom line is — corporate real estate managers have the potential to earn very BIG. 

What are Important Traits You Must Have to Become a Corporate Real Estate Manager?

Since you will be handling many stakeholders and many projects of varying scales, you need to possess the following traits:

• Patience. You will be negotiating contracts, handling disputes and issues of vendors and owners, and managing company representatives throughout the majority of your career. It takes a lot of patience to manage all that and de-escalate difficult situations.

• Attention to detail. You’ll deal with sensitive and specific information in legal documents. You have to be cautious in handling these.

• Strong verbal and written communication. Similar to the first trait, you will always be communicating and dealing with several stakeholders. All details must be properly communicated to avoid mistakes and misunderstandings in sensitive discussions.

• Good at math and accounting. All real estate managers, whatever the type or level, will need to monitor financial records such as payments, expense reports, late fees, etc. Having basic accounting skills is a huge help in your daily activities.

• People Management. You will always be working with a team, and at times, you will be the project manager in charge of deadlines, manpower sourcing, and management.

• Good foresight. One of your jobs will be to look at how you can upscale your team, your department, and even the company. Having good foresight will allow you to recommend plans and ways of working to be future-proof. For example, corporate real estate managers can recommend and implement banking software that will make the day-to-day job of teams more efficient and accurate. 

Do All States Require a Real Estate License for Corporate Real Estate Managers?

There are 5 states that don’t require any type of license to practice as a corporate real estate manager. These are Vermont, Maryland, Massachusetts, Idaho, and Maine.

Also, take note that while some states don’t require specific licenses and certifications, the companies might. 

So it’s always best to get a Bachelor’s degree, have a real estate license, gain lots of experience in related fields, and get certifications. 

Here’s a table of the licenses and certifications asked per state.

Conclusion

And that is how to become a corporate real estate manager. 

Yes, the journey is long.

You need at least 5-10 years to be ready to take on the tasks of a corporate real estate manager. 

So be patient.

Work hard.

And soon enough, you’ll be able to manage the real estate of BIG companies. 

Good luck!