Effective real estate management practice is needed to ensure that the property in Malaysia, including public schools, can be fully utilized. The purpose of this study is to identify the success factors of the real estate management of Malaysia’s public schools. To achieve this aim, a questionnaire was developed as a research tool. The respondents involved were representatives of public schools and officers from the state education department offices (on the basis of whom the total population was calculated) in Pulau Pinang, Malaysia. The respondents were chosen using a random sampling method. The success factors of managing property in public schools were identified by Exploratory Factor Analysis (EFA), using the principals of component analysis, the t-test, Cronbach’s alpha and mean analysis. The findings show that the majority of the respondents agreed that all of the listed 18 success factors within the 4 main factor groups as addressed in the survey are important for the efficient and effective improvement of real estate management, especially in Malaysian public schools.