Pricing Revenue Manager
- Job ID
- Job Location
- Asset Management
Looking for an opportunity with a dynamic, fun, and goal-oriented company? We’re growing quickly and we’re looking for some not-so-typical talent to join our team.
Progress Residential® is one of the largest providers of high-quality, single-family rental homes in the United States. With more than 40,000 homes across some of the fastest-growing markets, our residents appreciate the flexibility, freedom, and convenience of living in a single-family home without the obligations of home ownership.
Progress is committed to making the home rental process easy and enjoyable for the 100,000 residents we serve by empowering our team members and investing in innovative systems and technology. Our portfolio has continued to grow substantially the past few years and we see increasing demand for professionally managed single-family rental homes and anticipate continued growth.
This position will be responsible for maximizing revenue for their assigned markets, including that of PR3M (Progress’s new 3rd party management company). They will be responsible for doing this through the effective administration of Progress’s proprietary Dynamic Pricing System (DPS). In addition to becoming an expert on the revenue management (RM) system, this person will also be responsible for “outside the system” analysis and proof of concepts to test, build, execute enhancements needed to stay ahead of our peers. The expectation is that this person would work, strategically and effectively, with our operational leadership team in devising and executing pricing strategies appropriate for the situation. Through the PR3M management team, the PRM analyst will be responsible for encapsulating the goals of our owner clients and executing the right tactics to meet those goals. The PRM analyst will use their analytical/financial/economic background to find the right balance of rent and occupancy to maximize the success of our company and most importantly, our clients.
- Is the “go to person” for questions/help on pricing and revenue management issues for their geographic area (8,000 – 10,000 homes)
- Responsible for new and renewal rent pricing based on economic factors such as supply, demand, and competitive pressures to strike the right balance between volume and yield
- Evaluates performance of properties and suggests corrective actions for poorer performing properties.
- Communicates PRM philosophies and results to local managers through weekly pricing calls.
- Responds to ad hoc requests for assistance from Leasing Managers and Property Operations Directors
- Works with executive, mid-level and local leaders to map desired business strategies into appropriate pricing decisions.
- Identifies and resolves PRM issues through variety of structured and ad hoc analytics.
- Compiles market analysis information and trends to make informed recommendations to management.
- Tests new pricing tools and gives advice to further the efficiency and effectiveness of current tools and processes.
- Supports current KPIs and contributes to creating new KPIs where needed.
- Supports development and/or modification of training materials for PRM tools.
- Acts as change agent to support new PRM ideas/policies throughout the Company.
- Develops analyses for anything related to demand forecasting, demand management or pricing activities (these might include credit risk assessment, market segmentation, customer price sensitivities, pricing strategies and tactics, bundling or unbundling of products and services, etc.)
- Serves as our primary PRM representative to our PR3M partners and is an active participant in achieving bench strength within the PRM department
- Assists in the training and development of PR3M associates when it comes to PRM
- Responsible for recognizing trends and opportunities in the PR3M portfolio in addition to their geographic area
- Participates in the presentation of the “pricing story” to colleagues, clients, and prospects
- Assists in the continued development of all PRM practices, procedures, policies, and supporting tools
- Bachelor’s degree required. Analytical emphasis is preferred: finance, accounting, applied mathematics, statistics, economics, etc.
- Revenue Management, Yield Management or Pricing experience preferred. Relevant experience may include other industries that practice dynamic pricing and revenue management such as hospitality, gaming, airline, car rentals, multi-family
- Passion for driving business results through analytical process.
- Ability to communicate effectively at all levels of the organization.
- Ability to build internal coalitions to drive analysis-driven change through the organization.
- Strong analytical background and ability to learn new systems quickly.
- High degree of organization and time management skills with the ability to independently see the completion of multiple projects within a deadline while managing daily pricing
- Tolerance for ambiguity (”fuzziness”) of early change management situations.
- Ability to make decisions by extrapolating from limited data.
- Proficiency with analytical and presentation tools such as Excel pivot tables, database queries, graphing, PowerPoint, etc.
- Ability to “think out of the box” and bring new ideas to the table, not merely executing tasks as directed from above.
What you can expect from us:
Progress Residential® offers all the financial and non-financial incentives you would expect from an innovative real estate investment and management firm:
- In addition to outstanding training, we host quarterly summits and town hall meetings to encourage growth, knowledge sharing and a good time. After all, it’s about progress, not perfection.
- We offer competitive compensation, including a performance-based bonus.
- Our generous benefits package includes comprehensive healthcare coverage for you and your family, parental leave, paid time off, 9 paid holidays and much more.
This summary is not an all-inclusive description of job duties. Other job duties and responsibilities may also be assigned by the incumbent’s supervisor at any time based upon Company need.
Progress Residential® is a proud Equal Opportunity employer, m/f/d/v.