Real Estate Agent vs.Property Management
There are many exciting opportunities with potential for growth in both fields of real estate & property management. For some individuals, making the right career choice for these fields can be difficult. Having information about the advantages and disadvantages for both fields, can help people make the right choice for their career path.
Real Estate Agent – Advantages
Real estate agents have a degree of flexibility for setting their own work hours. They can work from the office or from home, creating listings for the various properties they want to promote. Once licensed, a real estate agent can work as part of a company team or as an independent contractor. The ability to have control over work hours increases the ability to make money. There is no set limit on how much a real estate agent can earn. In most cases, the agent's earnings comes as commissions for the properties sold.
Licensed real estate agents also have the opportunity to interact with people on a one-to-one basis. While maintaining a professional appearance, agents relate to their clients in a casual and friendly manner, often getting to know their personal sides.
Real Estate Agent – Disadvantages
Even though agents can set their own work hours, there may be times when they have to conform to the schedule of their buyer. This could mean leaving in the middle of dinner to close a deal at a moment's notice. While the potential to earn an unlimited amount of money exists, the housing market fluctuates occasionally, creating both easy and hard times for selling properties.
Real estate agents need to keep on top of current events within their community. Information they may need to know at any time will include the housing market in regards to their client's needs, financial opportunities for property loans and features found within the community itself.
Real Estate Agent – How to Get Started
Obtaining a real estate license requires taking courses and passing an exam. The whole process can be completed in a few months, and in some instances only weeks. Individuals interested in pursuing this career path can study real estate online at their convenience.
Property Management – Advantages
The field of property management expands on the field of real estate. Property managers work with property owners who lease their properties. Most states require property managers to have their real estate license or work with a licensed real estate broker. Property management has more structured hours than real estate. Having a scheduled work day enables people to schedule activities in their personal life without interference. A property management position is a salaried position, which provides more financial security and stability. More property owners are choosing to hire property management companies to act as liaisons on their behalf, so there are plenty of job opportunities available in this field.
Property Management - Disadvantages
A property manager is required to keep records and meet deadlines. This job involves filling out a lot of paperwork, which can become repetitive and tedious. As a liaison for the owner, the property manager enforces the rules and regulations stipulated in the rental agreement. This could mean dealing with tenants who receive late rent or property eviction notices.
Property Management – How to get Started
In addition to having a real estate license, it is helpful to obtain a certificate in property management to improve chances of employment. There are several online property management courses offering certification upon completion of the exam. Courses can encompass real estate transactions, fair housing regulations, business economics and tenant relations. Online courses have flexible schedules allowing for individuals to work at their own pace.