Why realtors are becoming property managers

With rising interest rates stalling the sale of homes in some areas, real estate agents are looking to develop a new niche by getting into property management. Learning a new area of the housing industry is allowing residential agents to venture into waters previously only chartered by commercial agents.

So, why do realtors choose property management in lieu of home sales? First, because everyone knows realtors already have great people skills. Working with tenants requires that you have excellent communication skills, and know how to make people happy. Whether it’s finding the right renter for a property, or just being able to think on your feed to make the customer happy (i.e. getting maintenance issues resolved, ASAP). A real estate agent has the experience needed to be an effective manager, and to meet a client’s (or tenant’s) expectations.

Real estate agents also have the tenacity and patience that it takes to finish deals. From being highly skilled at marketing themselves and finding clients, to nurturing relationships that will propel them within the industry. Think about it: established agents generally know people at the local banks, appraisers, property inspectors, local officials, etc. These connections, and knowing other real estate agents, will serve to elevate one in the role of property manager.

Are you a real estate agent who also works as a property manager? What makes you great for the job? Comment below!

Since 1988, ATS Inc. has been providing tenant screening services to landlords, property owners, and real estate agents all over the U.S.