Top real estate analyst skills needed to get the job.

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Host

What are the top 3 traits or skills every real estate analyst must have to excel?

Can you suggest any tips or insights to develop your real estate analyst expertise?

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Tsunami6

74 months ago

I've been in commercial real estate underwriting/due diligence/analysis for several years, mostly on the debt side. The skills needed are many and varied but primarily revolve around the following: financial analysis, market research and writing. You'll need to understand "the process," be it finance, development, investment, whatever...and getting to that point takes time. I had no real estate experience when I got into the business and it took a couple of years for me to finally "get it." There are a lot of pieces to the puzzle.

You'll also do well to learn MS Office, particularly Excel. A good primer for this is "Principles of Finance with Excel" by Simon Benninga. Familiarity with ARGUS is also a plus. However, ARGUS is a program that will turn your brain into jelly unless you already have a really good handle on commercial real estate.

I've found commercial real estate to be a very rewarding career and if you like figuring things out, telling the tale, and being a part of making things happen, you'll probably find it to be a rewarding career as well.

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Mac in Collierville, Tennessee

73 months ago

I've been a real estate analyst at a large bank for 3 years and I agree with the above poster. The main arenas you need to work on are financial analysis and communication/writing. You need to able to take information from various sources and compile it into a succinct and meaningful presentation. You will need to be able to explain how you reached your conclusions and offer opinions on courses of action. Good luck.

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Eric in Minneapolis, Minnesota

71 months ago

must be curious, analytical, and love math.

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Daniel Hussey in Sanford, Maine

67 months ago

Host said: What are the top 3 traits or skills every real estate analyst must have to excel?

Can you suggest any tips or insights to develop your real estate analyst expertise?

I've been a real estate market analyst for 3 years. What I've learned is that this is an unusual position in that #1. there are very few analyst within this enourmous sector #2. the real estate industry, especially on the residential development and sales side, is rather unsophisticated, #3. the data in information out there is marginal at best. I come from a sales and marketing background rather than a financial background. Therefore....I think the best skills you could have are

#1. Problem solving skills. You'll need to answer complex questions using a number of data and information sources. The path is not always clear so you have to overcome obsticles.

#2. You need to be handy with a computer. 50% Microsoft Powerpoint and Excel, 25% mapping / pictures / working with graphics, 25% capturing data from the internet.

#3. Presentations and Consulting. The most important skill to have when dealing with developers and project managers who often are masters of their own universe... Learn to listen, choose your words carefully, be direct, give them the honest truth.

It's a great profession. Dive right in and go for it if you want a career that keeps you on your toes and gives you many avenues to go down.

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Charyl in Lincoln, Nebraska

66 months ago

I too come from a sales/marketing background and looking for a change. I have been helping my husband who is a certified residential appraisal for over 10 yrs. running our small business. Any tips on how to land a local Real Estate Analyst job at a Farm Credit Service company, please give some advice. They are not looking for an appraiser.

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Charyl in Lincoln, Nebraska

66 months ago

I too come from a sales/marketing background, so I enjoyed your comments. Though I am weak at math, were you? Have you acquired the skills to crunch numbers, etc? I feel I can develop my math skills should I have a reason too.
Let's chat, I am on the job market and will be applying for this one Real Estate Analyst position by 1-26-09, so if I am lucking enough to land an interview, I will have more interesting questions to ask you. Ok?

Daniel Hussey in Sanford, Maine said: I've been a real estate market analyst for 3 years. What I've learned is that this is an unusual position in that #1. there are very few analyst within this enourmous sector #2. the real estate industry, especially on the residential development and sales side, is rather unsophisticated, #3. the data in information out there is marginal at best. I come from a sales and marketing background rather than a financial background. Therefore....I think the best skills you could have are

#1. Problem solving skills. You'll need to answer complex questions using a number of data and information sources. The path is not always clear so you have to overcome obsticles.

#2. You need to be handy with a computer. 50% Microsoft Powerpoint and Excel, 25% mapping / pictures / working with graphics, 25% capturing data from the internet.

#3. Presentations and Consulting. The most important skill to have when dealing with developers and project managers who often are masters of their own universe... Learn to listen, choose your words carefully, be direct, give them the honest truth.

It's a great profession. Dive right in and go for it if you want a career that keeps you on your toes and gives you many avenues to go down.

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Charyl in Lincoln, Nebraska

66 months ago

Charyl in Lincoln, Nebraska said: I too come from a sales/marketing background, so I enjoyed your comments. Though I am weak at math, were you? Have you acquired the skills to crunch numbers, etc? I feel I can develop my math skills should I have a reason too.
Let's chat, I am on the job market and will be applying for this one Real Estate Analyst position by 1-26-09, so if I am lucking enough to land an interview, I will have more interesting questions to ask you. Ok?

When you said 'go down' what did you mean?

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Dan in Sanford, Maine

66 months ago

"Many avenues to go down" meaning you could use these skills to become an underwriter, sales analyst for a biomed company, project manager, or if you're loving the real estate business, become a sales person and then a broker and run your own company and make $300,000 plus a year.

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Charyl in Lincoln, Nebraska

66 months ago

Will be applying tomorrow, wanting to learn more about this job.

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casheen smalling in nottingham, United Kingdom

63 months ago

what advice would you give to a young person whom is interested in real estate??

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Daniel Hussey in Sanford, Maine

63 months ago

casheen smalling in nottingham, United Kingdom said: what advice would you give to a young person whom is interested in real estate??

#1. It doesn't matter how old or young you are. If you are presentable (clean cut), well spoken, ampathetic to other's needs, good with people, smile a lot, confident, and ambitious, you'll probably find some degree of success. Of course you may not start with all of these traits / skills, but if you try, you can develop them. It's not rocket science. Be nice, work on people skills.

#2. Most people think "residential" when they talk about real estate, so if that is the path you are going down, learn everything there is to know about it. i think real estate in the UK is very much like real estate in the US as we adopted British common law and formed our land laws around your system. We're cousins dude. Learn types of construction, materials, architecture, understand zoning, easements, financing, deeds, ownership, etc. All of the stuff you'll need to know to get your license, then pratice communicating the information to others. It will show others you are a professional who really knows your stuff and a lot of times, people will have confidence in you and want to work with you.....then you make the big bucks.

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casheen smalling in nottingham, United Kingdom

63 months ago

thank you, your help has guided me, and im begining to research the assests of real estate, i would eventually like to have my own real estate firm,america would be the ideal place for me to endure with my success, haha big bucks that was funny, thank you again,
what type of real estate job are you doing at the moment ?? and is the salary good, in terms of architecture what types?? is there alot of maths involing real estate im asumming there is.
thanks you for your help w/b and also what would be my first business move and appraoch and what is the maximum salary income that i could earn ??. sorry about all the questions

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Daniel Hussey in Sanford, Maine

63 months ago

casheen smalling in nottingham, United Kingdom said: thank you, your help has guided me, and im begining to research the assests of real estate, i would eventually like to have my own real estate firm,america would be the ideal place for me to endure with my success, haha big bucks that was funny, thank you again,
what type of real estate job are you doing at the moment ?? and is the salary good, in terms of architecture what types?? is there alot of maths involing real estate im asumming there is.
thanks you for your help w/b and also what would be my first business move and appraoch and what is the maximum salary income that i could earn ??. sorry about all the questions

I work in residential real estate so single family houses and condominiums. The salary in Massachusetts, USA is very high compared to other states, but as a first year sales person, there are a lot of factors that could affect salary such as the town you're selling in, who you work for, the price range of the homes you're selling, etc. I think even in a poor market such as now, $35,000 part-time to $80,000 is reasonable. I know people who have made $1,000,000 in one year, during the good times, and even now they make tons of money, but they work very hard and they are top-notch professionals. You have to be a salesperson for 2 years before you can become a broker, then your salary has the potential to increase dramaticly since you have sales people working for you and you get a nice slice of commission from anything they sell.

No there is not a lot of math, only simple calculations which you'll need to know to get a license. Your first move would be to get a real estate license. Ask a broker how to do that in the UK. I'm sure there's tons of info online.

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MrTripods in Sacramento, California

62 months ago

I'm currently a pension analyst (public servant) but would like to acquire other marketable skills like a Real Estate Analyst. I did work as a Personal Banker for Wells Fargo many years ago before I got my current job with excellent benefits. I've always been interested in this residential and commercial market. But someone like me who have no experience with no networks, with small kids and family to go home to, can get into this business. How do I acquire the necessary skill sets while holding another FT job. I just need advice how do I begin the process. My email lignas@yahoo.com

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Charyl in Lincoln, Nebraska

62 months ago

My husband is the certified residential appraisal and I am his wife, who runs the business. He too, works full time, and has only done appraising on a part-time basis for over 10yrs. Now, b/c I want to keep him busy, I help with orders, customer service, and data input. Since, I am not working outside the home any longer, w/4 kids at toe, I am starting a new business venture selling websites, promotional material, etc. to appraisers across the US. Creating websites now, then will direct market to them in the Fall when all our kids are back in school. My backgrnd is in sales, and I know a lot about what appraisers need to BRAND themselves and what services they need to run their small office. (typically out of their home, and a one man/women shop) If you have technical questions about appraising, education, training etc. we can maybe help you....first tell me, where do you live so we have an idea of your market....
Good luck and would love to keep you posted on our new venture.....
Stay tuned.....

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greg in Adelaide, Australia

60 months ago

thank you ligna. the dicusion u did was very clear and suitalbe for me i gaint alot tnx very much. i hope u will be albe to helpe me further

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Daniel in Stratham, New Hampshire

30 months ago

Part II - 3 Years Later and 3 years wiser

IN GENERAL, my friends

An analyst would need to know a whole lot about how the world works but let me start with two things:

1. An analyst needs to know how to collect, analyze, and communicate data in a matter-of-fact way and communicate what that means to a reader

and

2. A GOOD analyst needs to know everything about the markets and neighborhoods they are analyzing. What's it like? Can you walk to any place cool like a cafe or a restaurant? What about the views? Does the place smell good? I'm serious. You can compare two downtown luxury towers one block away from each other but if one builder purchased carpets that emit noxious fumes and gets a bad reputation, it will affect sales and macro-level data won't show that.

Common market indicators are # of Sales, Average or Median Sale Price, Price per Square Foot, Absorption (sales per month) Average Days on Market. Two links where you can see some of these stats at play are Gove Quarterly (my current periodical)

www.thegovegroup.com/real-estate-new-hampshire-news-gove-quarterly.php

and

www.primetimecommunities.com/

a former client.

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Les Schwartz in Thousand Oaks, California

24 months ago

Tsunami6 said: I've been in commercial real estate underwriting/due diligence/analysis for several years, mostly on the debt side. The skills needed are many and varied but primarily revolve around the following: financial analysis, market research and writing. You'll need to understand "the process," be it finance , development , investment , whatever...and getting to that point takes time. I had no real estate experience when I got into the business and it took a couple of years for me to finally "get it." There are a lot of pieces to the puzzle.

You'll also do well to learn MS Office, particularly Excel. A good primer for this is "Principles of Finance with Excel" by Simon Benninga. Familiarity with ARGUS is also a plus. However, ARGUS is a program that will turn your brain into jelly unless you already have a really good handle on commercial real estate.

I've found commercial real estate to be a very rewarding career and if you like figuring things out, telling the tale, and being a part of making things happen, you'll probably find it to be a rewarding career as well.

Hello, My son in law is between jobs and has a masters degree in finance and also a brokers license. He is excellent when it comes to financial analysis and I'm just trying to help him find a new position. What type of job title and where would he apply for a position with his type of talent. Thanks for your help.
Les

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Tsunami6 in Spring, Texas

24 months ago

Les,

Search for commercial real estate analyst positions with development firms, mortgagr banking firms, lenders and servicers, and brokerage firms. A general search for "commercial real estate" is where to start.

Good luck!

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raj in Bangalore, India

19 months ago

hello sir I am a finance student and I just finished my graduation n I am planing start working in real estate industry so can you pleas give me any suggestions how do I go about it....

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jaschloee in Pomona, California

16 months ago

Hi, I have worked as a mortgage associate at wells fargo for a few years, and now want to pursue a career in acquisition and merger analyst. I didn't major in finance or real estate in college, but do have real estate, lending, and law background. I am looking for some advice on how to start a caerre in M&A analyst, and what do I need to prepare myself for a potential job opportunity? and since entry level jobs are pretty much open to post-graduates at this point, any advice on landing a job as a M&A analyst? Thank you!

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jaschloee in Pomona, California

16 months ago

Daniel in Stratham, New Hampshire said: Part II - 3 Years Later and 3 years wiser

IN GENERAL , my friends

An analyst would need to know a whole lot about how the world works but let me start with two things:

1. An analyst needs to know how to collect, analyze, and communicate data in a matter-of-fact way and communicate what that means to a reader

and

2. A GOOD analyst needs to know everything about the markets and neighborhoods they are analyzing. What's it like? Can you walk to any place cool like a cafe or a restaurant? What about the views? Does the place smell good? I'm serious. You can compare two downtown luxury towers one block away from each other but if one builder purchased carpets that emit noxious fumes and gets a bad reputation, it will affect sales and macro-level data won't show that.

Common market indicators are # of Sales, Average or Median Sale Price, Price per Square Foot, Absorption (sales per month) Average Days on Market. Two links where you can see some of these stats at play are Gove Quarterly (my current periodical)

www.thegovegroup.com/real-estate-new-hampshire-news-gove-quarterly.php

and

www.primetimecommunities.com/

a former client.

i understand that there will be lots of research and analysis involved, do you mind if you can elaborate a little more on how to get an analyst in finance without a finance background from college, but have a few years working as in financial sectors?

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jaschloee in Pomona, California

16 months ago

Mac in Collierville, Tennessee said: I've been a real estate analyst at a large bank for 3 years and I agree with the above poster. The main arenas you need to work on are financial analysis and communication /writing. You need to able to take information from various sources and compile it into a succinct and meaningful presentation. You will need to be able to explain how you reached your conclusions and offer opinions on courses of action. Good luck.

Hi, I jus want to ask how did you become a real estate analyst. I have 2 years work expereience with lending and mortgage, and recently finished all my courses for real estate license and also passed my test. I really want to pursue a job in real estate analysis, and wondering how I can get my foot into the door. Thanks!

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Daniel Hussey in Stratham, New Hampshire

12 months ago

I don't know a lot about become in an analyst in finance but I'm assuming an MBA with an interest in finance is the place to start. That may be the type of job that requires a lot of experience prior to jumping into consulting. I feel real estate is different because it is based on both data and on physical, tangible things that an analyst can point to, like....buildings and land.

I got my first real estate analyst job by answering a job posting online. The company was looking for somebody that was good with a computer, good and writing, and was "presentable" enough to sit with clients and talk about the findings. I did the grunt work of collecting data, making tons of phone calls, summarizing it all on paper and then with the help of one of the partners, we came up with recommendations. We then presented our findings to the clients and did any follow up work that arose during the presentation. We used those meetings to build relationships with developers and ended up getting the listings to sell the homes or condominiums when it eventually came to fruition. After two years, I put together most of the recommendations. After 4 or 5 years, I did most of the consulting. Now, as a sales director, I consult 25% of the time and execute the strategy to market and sell homes the rest of the time.

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jobseeker in Bethesda, Maryland

12 months ago

Host said: What are the top 3 traits or skills every real estate analyst must have to excel?

Can you suggest any tips or insights to develop your real estate analyst expertise?

1. To know someone who hires (or knows someone who does)

2. Be docile, but at the same time eager to feel like Evil is fun, be capable of back-stabbingg your co workers and basically be a b***h (the only area where creativity is tolerated by management is backstabbing).

3. Enjoy stoplessly kissing rear ends of people whom you depend on at your workplace (you compensate for it by being extremely rude to just anyone whose rear end you don;t have to kiss).

The rule above is universal and will work at 90% of the places where you want to get hired and keep a job.

Hehe! J/k, I just made it up.

You should go to Google search and enter the search query. You may also read an industry specific book.

Good luck!

3.

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