The panel discussion “Creating a Framework for the Role of the Asset Manager” at the recent
IMN CRE Asset Managers’ Forum provided valuable insights into how asset managers can succeed in today’s dynamic real estate landscape. Moderated by Max Stewart, Industry Principal at Pereview, the session focused on practical strategies for asset managers to thrive by balancing day-to-day tasks, relationships, and performance metrics.
Be proactive
One of the key takeaways was the importance of asset managers being proactive when handling ad-hoc tasks. Asset management is inherently fast-paced, and unexpected challenges arise regularly. To stay ahead, managers must anticipate these tasks and deal with them efficiently.
However, proactivity must go hand-in-hand with an open line of communication across departments and teams. Whether it’s coordinating with finance, operations, or property management teams, collaboration is essential to ensuring smooth operations and achieving long-term success.
Find a balance
The panel also emphasized that successful asset managers need to strike the right balance between leadership and empathy. Rather than being brazen or overly authoritative, asset managers should lead with empathy toward the property management teams who are directly supporting the assets. These teams are on the front lines of day-to-day operations, and a collaborative, empathetic approach fosters trust and boosts performance.
Turn to specialists
Another key insight from the discussion was knowing when to seek third-party support. Asset managers don’t need to tackle every challenge alone – whether it’s construction, marketing, or implementing software solutions, leveraging external expertise allows managers to focus on their core strengths while ensuring that specialized areas are handled by professionals.
Here, tools like Pereview’s AI-powered data ingestion, two-way data transfer with trusted Excel models, direct integrations with source systems, custom reports, and data management services, play a crucial role by combining people and technology to streamline data processes. This combination ensures that asset managers can access accurate, standardized data without the typical manual burden, thanks to automated custom workflows that ensure processes are consistently followed.
Track performance
Finally, the session highlighted the importance of tracking Key Performance Indicators (KPIs). Keeping an eye on the right KPIs enables asset managers to stay on top of performance metrics, identify trends, and make data-driven decisions that improve asset and portfolio value.
By embracing proactive communication, empathetic leadership, external support, and a focus on KPIs, asset managers can create a robust framework for success in an increasingly complex real estate environment. With Pereview’s integrated approach to data management and workflow automation, managers are better equipped to tackle these challenges head-on and optimize their performance.
