AN ANALYSIS OF EXECUTIVE PERCEPTIONS REGARDING COMPETENCIES REQUIRED OF PROPERTY MANAGERS IN HIGH PERFORMING WORK SETTINGS WITHIN THE RESIDENTIAL
Responding to the critical hardship for highly qualified Property Managers in the residential multifamily real estate industry, research was conducted to identify and rank order of importance unique competencies surrounding the high-level performance Property Manager. This study examined executive perceptions regarding competencies required of Property Managers in high performing work settings within the residential multifamily real estate industry.
A three-step research methodology was used to collect data. The researcher-developed survey in Step 3 attained a 13% response rate from collected data of 1,138 opened emails and 150 usable surveys from subject experts, executives or supervisors of the Property Manager.
The analyzed data identified executive’s views of 23 identified competencies and definitions of competencies held by the high-level performance Property Managers of the exemplary Property Manager. In addition, the relative importance of the 23 recognized competencies of high-level performance Property Managers was identified. The following listing contains 23 unique competencies identified by high-level performance Property Managers in the view of executives in order of importance.
Table 1. Competencies
1. Honesty and integrity 13. Loyalty
2. Clear communication 14. Marketing Knowledgeable
3. Passion 15. Inspiring
4. Emotional Intelligence
5. Efficiency 16. Involved
6. Confident 17. Trainer
7. Financial Acumen 18. Delegates
8. Proactive 19. Visionary
9. Adaptability 20. Entrepreneurial
10. Team Focused 21. Recruiter
11. Develops Employees 22. Education
12. Approachability 23. Creativity
This research provided significant contributions to organizations and industry as a whole. The 23 identified competencies, ranked in order of importance, provided relevant information and expand the limited amount of existing research pertaining to the residential multi-family real estate industry. This research also complemented and linked prior studies and theories, including the Resource Based View and social context theory. It thus can help future investigators or scholars select research topics, constructs, or questionnaires and thereby extend knowledge about competency modeling and the identified competencies in the real estate management industry. The knowledge thus gained also provides widespread benefits to the industry