If you work as a real estate agent, you may have customers approach you from time to time looking for help managing a property. Maybe they want to rent their own home or they’re looking to get into real estate investing. Whatever the reason, it might be tempting for you to accept that offer. After all, how hard can it be to manage just one property?
A lot harder than you think. While both property managers and real estate agents deal in housing, the skill sets required have little overlap. As a real estate agent, you’re concerned with helping connect people with homes. As a property manager, it’s more about the day-to-day maintenance of buildings and relationships. And being a property manager is a full-time job. It’s not something that you can hang up at the end of the day—you have to be on call 24/7, ready for anything from rowdy tenants to frozen pipes to handling evictions. If you aren’t prepared for it, being a property manager can consume your life and hurt your primary business—buying and selling real estate.
Rather than trying to take the world on your shoulders, recognize what you can and can’t do. Try to find a trusted property manager in your community that you can refer those customers to. You’ll be doing the best thing for yourself and for your customer in the long run.
If you’re looking for help with Indianapolis property management, Polaris Property management would love to be your referral partner of choice. If you’re an Indianapolis real estate agent, why don’t we sit down and discuss how we can help grow our businesses together?