When it comes to real estate, many people often confuse realtors with property managers. It’s understandable—they both deal with homes, properties, and tenants or buyers. But there’s a big difference in what they do. So, can one person really handle both jobs? Let’s dive into what each role involves and whether someone can successfully juggle both.
What Does a Realtor Do?
Realtors are professionals who help people buy and sell properties. They guide buyers to find their dream home or investment property and help sellers get the best price for their property. Realtors are often in the middle of negotiations, handling paperwork, and making sure all the legal stuff is in order.
Think of a realtor as your go-to person when you’re on the hunt for a new place or trying to sell your old one. They know the market, understand what buyers are looking for, and can give great advice on how to make a property more attractive. Whether it’s suggesting a fresh coat of paint or staging a home for an open house, realtors have a lot of expertise in this area.
They’re usually very involved during the buying or selling process but don’t usually stick around once the deal is done. After the sale is closed, their job is pretty much over.
What Does a Property Manager Do?
On the other hand, a property manager’s job starts after a property is bought or rented out. They are responsible for handling the day-to-day operations of rental properties. This could include finding tenants, collecting rent, scheduling maintenance, and dealing with complaints or issues that come up.
If a tenant has a plumbing issue, a property manager will call the right people to fix it. If rent is late, the property manager will make sure it gets paid. They’re the ones making sure everything runs smoothly at a rental property, and they act as a middleman between tenants and property owners.
For property managers, it’s not just about renting out the place; it’s about keeping the property in good shape and making sure the tenants are happy. They’re also often involved in tasks like budgeting for repairs, overseeing renovations, and making sure everything complies with local laws and regulations. A great property manager is key to keeping tenants around and ensuring the property doesn’t fall into disrepair.
Can One Person Be Both a Realtor and a Property Manager?
It’s possible for someone to be both a realtor and a property manager, but it’s not always easy. Let’s take a look at why.
Different Skill Sets
Being good at selling homes doesn’t necessarily mean someone will be good at managing rental properties. Realtors excel at marketing properties and dealing with fast-paced transactions. They’re experts at making deals and navigating the buying and selling process.
Property managers, on the other hand, are experts at managing relationships. They need to stay organized, be good problem-solvers, and be able to handle everything from minor maintenance to major emergencies. The skill set required for property management is much more about long-term care, while realtors are more focused on short-term transactions.
A person who does both jobs would need to balance the skills of a good salesperson with the skills of a great manager. It’s not impossible, but it takes someone who is really flexible and willing to wear many hats.
Time Commitment
Both jobs can be very demanding. Realtors often have to work long hours, especially on weekends or in the evenings when clients are available to look at homes. Property managers, meanwhile, need to be on call 24/7 to handle emergencies or deal with tenant issues.
If one person were to take on both jobs, they might find themselves stretched too thin. Imagine trying to sell a house while also getting calls about a broken heater or a leak in one of your rental properties. It could become overwhelming quickly.
Time management would be crucial, but there are only so many hours in a day. That’s why most people choose to specialize in one area or the other.
Conflict of Interest
There’s also the possibility of a conflict of interest. Let’s say someone is both a realtor and a property manager. They might have a property listed for sale and, at the same time, be managing it as a rental. If the property sells, they’ll get a commission from the sale, but they’ll lose the steady income from managing it. This could create tension or tricky situations where they need to prioritize one role over the other.
How Combining Roles Could Work
While handling both jobs isn’t the easiest thing to do, some people manage to make it work. There are a few ways someone could pull it off.
Using Technology
Technology can be a huge help in managing both roles. For example, property managers can use software that helps with scheduling repairs, collecting rent, and keeping track of important dates. Realtors can use tools to help them manage their listings and client relationships. The key is to stay organized, and with the right tools, it’s more possible to juggle both roles.
Companies like Pest Share help with managing tenant issues like pest control, which is one less thing a property manager has to worry about. If pest control is covered as part of the rental agreement, tenants know they can quickly and easily get the help they need. This takes some of the pressure off the property manager, allowing them to focus on other tasks.
Hiring Help
Another way someone could manage both jobs is by hiring help. For example, they could hire an assistant or a maintenance team to help with property management tasks while they focus on selling properties. This way, they can still manage both roles without getting overwhelmed.
They could also partner with a pest control service, like Pest Share, to handle things like pest infestations, keeping tenants happy without having to deal with every problem themselves.
Specializing in a Niche Market
Some people choose to specialize in a niche market where the two roles overlap. For example, they might focus on selling investment properties and then offer to manage those properties after the sale. This could be especially useful for real estate investors who want a one-stop-shop for both buying properties and managing them.
By offering both services, they could attract more clients who want a hassle-free experience. Investors, in particular, might appreciate having one person they trust to both sell and manage their properties.
The Bottom Line
While it’s possible for one person to be both a realtor and a property manager, it’s not for everyone. It takes a lot of time, effort, and flexibility to do both jobs well. Someone who tries to juggle both roles will need to be organized, have the right tools, and possibly even hire help to manage the workload.
The decision to combine both roles will depend on the person’s skills, experience, and the type of properties they’re dealing with. Some people thrive in both areas, while others prefer to stick to one. Either way, knowing what each job requires can help someone decide if they want to take on the challenge of being both a realtor and a property manager.
And if you’re a property manager looking for a way to streamline your pest control issues, Pest Share might be just the solution you need to keep tenants happy without adding extra stress to your plate.
