Real estate strategists analyze market trends and properties to create plans that maximize returns and minimize risks for businesses’ real estate matters. They advise on acquisitions, developments, and asset management strategies to meet financial goals.
Median income:
Median annual income of $63,060 or $30.32 per hour, with some strategists working in big firms surpassing $100,000 annually.
Lifestyle:
Real estate strategists typically work in office settings and occasionally travel for site visits and meetings.
Exciting Parts Of the job
Traveling to explore new markets and discover top hotels and restaurants
Being part of a dynamic team that values staying informed about market trends
Enjoying the thrill of discovering new locations for investment and development
Challenging parts of the job
Coordinating among diverse teams with different processes
Managing the complexity of larger projects
Navigating the balance between established processes and the need for innovative and visually compelling deliverables
Adapting to a dynamic environment where there may be a need to build processes from scratch
Education requirements:
A bachelor’s degree is typically required, although some firms may offer opportunities to candidates without degrees.
Job outlook:
The future for real estate strategists is average, which means new job opportunities are likely.
This is perfect for you if:
You enjoy analyzing market trends and data.
You are a strategic thinker, always formulating plans to maximize property investments.
You love problem-solving and entrepreneurship.
If that sounds like you, definitely watch our interview with Chesley McCarty to learn more about being a real estate strategist here!
Day in the Life
Schedule:
Work full-time, about 40 hours per week, with some exceeding this as they often adjust their schedules to meet client needs. Those who are self-employed enjoy the flexibility to set their hours.
Setting:
Work in-office or at client sites when meeting clients.
Tasks:
Real estate strategists primarily conduct market analysis, research competition, and develop detailed consulting presentations using qualitative and quantitative data. They advise clients where to invest in projects to achieve desired results and attract target users for development.
Topics:
Architecture, interior design, business analytics, sales and marketing, customer service skills, and real estate policies.
Skills:
Market research, strategic planning, problem-solving, and sales, effectively persuading clients to adopt the best development strategies.
Tools:
Laptop or computer with Adobe InDesign and Excel. InDesign is used most of the time for presentations, while Excel is used for managing high-level economic analysis, such as calculating rent and expected sales for retail spaces.
Common Characteristics
Natural Talents (strengths):
Persuasion, strategic thinking, and market analysis. Their innate skills in effective communication and creative problem-solving help them excel in their field.
Interests:
Urban planning and development, understanding the market trends and analysis, and identifying good properties for investment.
Personality:
Entrepreneurial, investigative, and conventional personalities. They are research-oriented and knowledgeable about real estate’s legal and regulatory aspects.
Values:
Value building relationships with other professionals in their field, ensuring client satisfaction, and witnessing the outcomes of their efforts in real estate projects.
*Terms used to describe interests and personality are based on the Holland Framework.
How to Become a Real Estate Strategist
Education requirements:
A bachelor’s degree is typically required, and some positions may also prefer candidates with a master’s degree or specialized certifications in real estate, urban planning, or finance. However, some positions may accept candidates without degrees but with practical experience in the field.
Preferred majors:
Real estate, finance, business administration, or any related field can be helpful.
Specialties and Similar Career Paths
Asset Management
Assessor
Brokerage
Commercial Real Estate
Corporate Real Estate
Development Planning
Financial Analysis
Investment Strategy
Property Management
Real Estate Agent
Real Estate Consulting
Residential Real Estate
Sales
Urban Planning
Advice from Chesley
Job hunt tips to set yourself apart:
Stay updated on market trends and actively network with industry professionals, clients, and stakeholders to broaden your opportunities. Additionally, specialize in a niche area of interest to develop expertise and distinguish yourself in the field.
Fastest way to get your foot in the door:
Network with firms like Street Sense, develop skills in Adobe InDesign and floor plan reading, and target positions with real estate developers or related industries.
Recommended resources:
Chesley recommends a few resources to help you get started as a real estate strategist:
Monocle: A publication known for its focus on style, fashion, real estate, retail, and global affairs.
The Urbanist: A podcast by Monocle that explores urban planning, city dynamics, and global perspectives on why certain cities thrive.
What Chesley would tell her younger self if she was just getting started:
“I’ve had challenging conversations with people who might be unhappy in their current role, looking at our team and us, how shiny it was, getting to travel and work on these cool projects. No one can read your mind. If there’s something dissatisfying in your role, you’re in charge of your own destiny. Speak up or find the next thing that works for you.”
Listen to the full interview with Chesley:
Data on job profiles is based on information supplied by the Occupational Outlook Handbook from the Bureau of Labor Statistics, My Next Move from the National Center for O*NET Development, and the O*NET Program, sponsored by U.S. Department of Labor, Employment, and Training Administration. Accessed 28 June 2024.
