Real estate wealth manager: what is it?

What does the job of real estate asset manager consist of? What role does it play in the constitution and management of real estate assets? Discover the missions of this professional who is also called a real estate asset management advisor.

The role and definition of the real estate asset manager

A real estate asset manager is in charge of real estate management. He manages real estate with a view to profitability. To do this, it applies financial, technical and administrative resources in accordance with the regulations in force.

To carry out his mission successfully, the property manager must understand the needs of his client by having previously carried out a property and fiscal balance sheet. This professional offers individuals a investment strategy with different solutions.

This profession supposes a excellent relationship. The real estate asset manager has an advisory and information function for his clients. A good professional knows how to listen, advise and convince. For this to take place under the best possible conditions, the manager must be able to rely on a solid network of professionals. He must also be able to analyze the real estate market in order to put in place effective action plans.

The wealth manager can work in a bank, an insurance company or a notary. Some of them also practice independently, in liberal profession.

Accessible with a bac + 2, the profession is more generally exercised by holders of a master’s degree. There are specialized degrees in finance or wealth management.

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The missions of a real estate asset manager

This professional has several missions:

  • it determines and provides for the necessary work so that the property is in perfect condition (construction, maintenance, rehabilitation, renovation or development);
  • he supervises the work by selecting service providers and companies, he then takes care of verifying their compliance;
  • it manages and monitors the various maintenance and upkeep contracts for the property;
  • in the event of anomalies or complaints, he is responsible for defining actions such as contentions or debt collection;
  • he manages budgets and takes care of administrative formalities (accounting, tax, legal documents, etc.);
  • he manages the real estate in co-ownership which is encountering difficulties;
  • he carries out acquisitions, rentals or transfers of real estate;
  • he follows the decisions of the co-ownership regulations and holds general meetings of co-owners;
  • it deals with relations with partner local authorities or representative bodies of tenants or owners.

When should you call on a wealth manager?

The wealth management advisor is a very responsive professional. In the event of an opportunity to be seized, he warns you very quickly. However, not all wealth managers are created equal. Before trusting a professional, meet several. Poor management of your real estate assets could have serious consequences.

Namely, the asset manager can also bring his expertise in areas other than real estate. He advises his client on all tax measures likely to make his money grow. He can make her buy works of art as well as precious stones, for example. Beyond real estate, the mission of an advisor is to optimize the money of his clients.

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Managing the model of a real estate project

A property manager is the professional who knows both the legislation concerning the French property market, but he is also someone who is able to be your best ally in the management of your personal wealth. With it, therefore, you will never have any concerns about the legal compliance of the proposals made to you, in terms of acquisition. But he is not omniscient, which is why he must sometimes also combine his services with those of a company specializing in Building Information Modeling, or more simply BIM. So everything that has to do with the digital model of a real estate project, if it goes outside its scope of intervention, can be taken care of by an annex company, which is specialized in BIM GEM asset management. real estate.

In the construction sector, it is not simply a question of constructing buildings and selling or renting the homes or offices that have come out of the ground overnight. It goes further, because there are many parameters to consider. It is above all about drawing up plans and carrying out a BIM model in digital format. Then, throughout the construction itself, you have to ensure that each stage goes smoothly, from the shell to the finish, without there ever being a single downside. It simply allows you to anticipate any problems that might arise, thanks to intelligent data analysis and management.

It is for this reason that it is sometimes said that BIM can also mean Building Information Management. All data cannot in fact be processed exhaustively and satisfactorily by brains alone, so complex are the manufacturing processes. In addition, at a time when digital tools are more efficient every day, it would be a shame not to use GTPAO software, which has been specifically developed for professionals in the construction of private or public buildings. In this sector of activity as in so many others, the contribution of increasingly sophisticated digital technologies offers new possibilities, but above all it helps to increase performance and results.

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For a long time, risk management in terms of real estate assets had not had the possibility of relying on intelligent IT tools. Today that the world is becoming more and more digital, it is therefore logical that wealth management professionals also have at their disposal assistance corresponding to their profession. So the construction process can be made faster. This therefore creates equally new opportunities in terms of the acquisition and development of real estate assets, since from the point of view of asset managers, it is possible from the outset of a project to engage one of his clients, in him. promising that he will not regret his investment.

As the margins of error are lower, it is understandable that investors can feel reassured and therefore find themselves in a position to invest their money more calmly.

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