Real estate managers of the 21st century learned from the experiences of real estate
managers during the 1980s and 1990s that they must be able to manage through
change. One cannot manage change that is occurring in the market and in society,
but one can develop strategies and tactics to manage through it. This requires a
broad range of business and people skills. Real estate managers must be able to
adapt to an industry that experiences cycles within cycles, and they must be able
to change their management focus to meet the needs of different property owners.
The primary responsibility of the real estate manager is to achieve and hopefully
exceed the property owner’s goals and objectives.
Real estate managers do not manage buildings—they manage businesses. Each
property is the owner’s business. When managing a mega mixed-use development (MXD) or a successful super regional mall, the real estate manager is es-
Managing and Leasing Commercial Properties, 2nd Edition, 2016
by Alan A. Alexander and Richard F. Muhlebach, CPM