Working for Equity Residential (EQR), a leading multi-family real estate investment trust (REIT), means being part of a community and striving to provide the best in apartment living, speaking boldly about new ideas for innovation, and inspiring creativity in the ways we work together. Our portfolio of high-quality properties in urban growth markets – New York City, Boston, Washington DC, Seattle, San Francisco and Los Angeles – provides homes where people most want to live, work and play. We've got the best people in the business, and our experience shows in our dedication to our residents and in how much we value each other as colleagues. That's why our employees say they are proud to work at Equity, a company that gives our residents a place where they can "Live Remarkably," and offers a culture where our employees have the opportunity to make their mark.
Reporting to the VP, Pricing and Revenue Management, the Manager, Pricing and Revenue Management is a subject matter expert in the multi-family pricing function. As a Manager in our pricing group, you'll be responsible for directing, executing, and managing both short-term and long-term strategies for maximizing revenue through effective New Lease, Renewal and other income stream pricing via the effective use of LRO, MRI or any other approved pricing or property management systems. You will build and foster relationships with Property Management, Investments, Marketing and Sales teams, and develop strategies, programs, and systems for revenue generation. In addition, you will serve as a key functional liaison to the IT project team on developing business requirements for system related enhancements, testing system changes and implementation of new enhancements. You will also manage relevant vendor relationships — including the testing and training of pricing software upgrades — and develop strategies, programs, and systems for revenue management.WHO YOU ARE
- An Effective Leader and Trusted Team Player. You are known for serving as a resource and trusted business partner for internal groups and participating in cross-functional projects is the type of work you love. You hold yourself accountable and take responsibility for your mistakes—but also expect others to do the same. You also have a tendency to make developing your employees a core part of the job.
- Knowledgeable. Through your previous work experience, you've built a broad-based familiarity with a variety of pricing and property management systems, such as MRI and LRO.
- Strategic and Decisive. You demonstrate an inherent sense of urgency to drive great results, while being precise with executing your work. You multitask well, re-prioritize accordingly, and meet deadlines consistently.
- Results-Oriented. You are facile with creating and communicating a clear project plan, tracking progress, and keeping stakeholders in the loop along the way. You frequently ask "why", so that you can identify opportunities that represent unconventional solutions to the problems you or your team are trying to solve.
- A Strong Communicator. Your writing and speaking skills are concise, articulate, and effective, providing an ability to interact with all levels/various teams across the organization, be understood, and develop trust and rapport within the organization.
- Organized and Confident. You are flexible, composed, and confidently interact with a variety of individuals, across all levels of the organization. In other words, you handle pressure well and do so with confidence.
- Develop long and short-term pricing and revenue management strategies to maximize revenue opportunities.
- Oversee pricing and revenue management for all assigned locations.
- Provide analyses and recommendations of pricing strategies.
- Gain an understanding of the LRO revenue management software model and its related data structures
- Assess revenue performance of properties and regions, develop strategies for enhancements, and present revenue results and trends to VP Pricing and Senior Management.
- Review and report on pricing compliance and performance metrics.
- Communicate and coordinate with VP Pricing and AVP Pricing and Business Intelligence, and regional staff including Regional Managers and VPs of Property Management to understand trends and needs.
- Ensure accurate competitive pricing inputs to pricing model and analyzes competitive pricing strategies to formulate an appropriate competitive response.
- Manage pricing system upgrades to revenue team and properties as necessary.
- Participate in pricing report design and user acceptance testing process associated with the development of new enhancements to the property management and pricing system.
- Perform duties normally associated with a managerial position, such as training, evaluating, analyzing and presenting to senior staff members.
- Travel as necessary to EQR markets in order to understand pricing, teach pricing at properties and regions, and review competitive practices.
- Complete special projects as requested.
- Bachelor's degree in Finance, Economics, Marketing, or related field required. MBA preferred.
- Three to Five years of management experience in pricing, revenue management, analytical marketing, or finance.
- Strong understanding of revenue and pricing management concepts.
- Strong analytical skills with the ability to evaluate financial and property data. Strong Excel skills.
- Strong business judgment.
- Excellent written and verbal communications skills.
- Must be able to interact with employees at all levels of the company.
- Demonstrated leadership skills with experience in management of staff with willingness to support and challenge team members.
- Ability to plan, organize, be responsive to inquiries, and work unsupervised. Strong interpersonal and managerial skills with a willingness to support and challenge team members.
- Strong analytical skills with the ability to produce and analyze financial and property data.
- Excellent communication skills, including written, verbal and presentation skills, as well as the ability to plan, organize, be responsive to inquiries, and work independently as well as in teams.
- Proficiency with MS Excel and experience with LRO, Yieldstar or other revenue management software.
We recognize everyone has different needs outside of work. That's why, in addition to a competitive benefits package (medical, dental, vision and paid time off), we offer many unique benefits options to employees, like pet insurance and paid time off for community service projects. To learn more, view our Total Wellbeing page here.
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