Property Management or Realtor?

Hey Kingslea, Your question is pretty much relevant and all depend upon your choices. If you want a home and desire to complete the process hassle free, you need to have a Realtor. Moreover, if you want your property like multiple family homes to be managed in terms of maintenance and rent collection, you need to have a Property Manager.

Property Management requires certain elemental requirements to be set in place before collecting monies and operating as a property management person or company. We would hope that most realtors would operate in honesty and integrity, but there is also a preset way of conducting this type of real estate business. I certainly agree with the other agents on this topic to a certain extent. A realtor should certainly have permission from the broker before doing any property management duties or collections of funds. This is because of several reasons, and one reason is that the broker would need to have a designated bank account and accounting of these funds. Can a realtor perform essential property management duties of assisting with scheduling repair persons and or providing trash collection information, yes, but unless given permission a realtor should not take this task on their own.

I would never. Landlords expected so much from you. And you need to know laws. Expected to collect payments. That’s like being a leasing agent at an apartment complex. If you really are interested and have the time. Get a responsibility list (job Description) and make sure you establish your pay upfront. If working got a Investor they expect a lot and only pay a little. If you’re a new agent go for it get some income rolling in. Once you start getting busy buying and selling you might not have time for that. Also It really depends on who you work for. So many things to consider. Like I said if your new agent, yes do it get some money coming in.

Hello Kingslea
You should be careful in letting a Realtor be a property manager unless that person has permission from their Broker to do so. If a realtor is doing property management, then it has to be under the Broker's name and not their own. Not doing it like this puts the Landlord under tremendous liability. You should therefore try and hire a property management company as they will be professionals and will do a better job.

Property Management
simply because it have more options

best Billing and invoicing software Very helpful Software for Realtor

The land business manages postings and selling of properties in the interest of property proprietors, while property manager manages all administration parts of the property for the benefit of the property proprietor including support, fixes, inhabitant issues and the sky is the limit from there.

If a landowner needs help taking care of the daily duties at their rental assets, he can hire a property supervisor. A property supervisor can be hired for one simple task, such as collecting rent or can be fully responsible for the services at the rental property. While a real estate agent is anyone who is allowed to assist people to purchase and retail commercial or household property.

A good property manager will be a realtor (licensed real estate agent or broker) as well. Both fields are intertwined, but from a client point of view if you are looking to just rent your property a realtor can do the job, however if you are looking for full service oversight and someone to look after your property once it’s leased a property manager is essential.

Really thank you for opting this topic for discussion. I too had the same doubt whether the Property Manager can be a Relator. I have browsed the net to clear my doubt. Finally, I came across this page which helped to clear my doubt. Amsterdam vacation tours

Both!!!!
they are both rewarding and demanding. Although, as a realtor you are not allowed to do property management, only brokers, due to the handling of moneys for the landlords. Special accounts, etc must be in place. Unless is multi-family and work directly for the owner. I like both. Just ensure that proper training and specialization is taking place.

"Property management can be labor intensive, a legal minefield and seem like more trouble than it is worth. But with proper staffing and systems in place, property management can add another stream of income to your business — and set you apart from your competitors."
p.s. my quoted source is an Inman Select article and may require a subscription to read in full.

Property Management. Actually there was a post that Realtors can be Property Managers, and that is not the case. In order to transact in the act of Property Mgt., you have to be a Broker,and a trust account has to be in place. No realtor can say they are a PM, accept money, etc.

Hire a property management company to find your renter. Just a realtor will find someone who meets your minimum qualifications for income and credit scores. They get one transaction, make their commission, and then they are gone. But an experienced property management company is in it for the long haul. They are incentived to find someone who will pay rent every single month, not just meet a one time application. They know how to check for fake credit reports, fake paystubs, and fake references and the better ones will even guarantee their tenants so you don’t pay a second commission if the first one doesn’t work out. Finally, all property management companies have to be run by licensed realtors, so you actually get all the benefits of a regular realtor plus a lot of specialized knowledge and skills that most realtors don’t have. I think you would be well served to find a competent property management firm. If you have any other questions, I’d be happy to help.

Hi Kingslea,

What is your question? Can a Realtor be a property manager? The answer is yes and in fact, they should be!

Mark McNitt
MarkKnowsHouston.com
832-567-4357
Bernstein Realty