Can a Real Estate Agent Be a Property Manager?

If you’re already in residential property sales, you may be asking how can a real estate agent be a property manager—the good news is, this transition might be easier than you think.

Transitioning from real estate sales to property management gives you the chance to secure a steady income stream, while also building long-term client relationships. If you’re tired of desperately hanging on for your next sales commission, becoming a property manager might be the right call for you. Furthermore, many real estate agents don’t stop doing sales, they simply add property management to the list of services they’re already offering potential clients.

Fortunately, agents are already equipped with essential skills that translate well into property management, such as understanding local markets, negotiation abilities, and a knack for effective communication. Te role of a property manager requires an expanded skill set, however. It goes beyond facilitating property sales to include managing tenant relationships, handling maintenance requests, ensuring rent collection, and staying on top of legal and financial regulations.

In this blog, we’ll explore what it takes to make the switch from a real estate agent to a property manager, including the skills you need to develop, licensing requirements, and tips for finding your first clients.

1. Do the Necessary Legal Footwork

   Can a real estate agent be a property manager? Well, yes, but you might need some extra credentials or certifications to get started.

   Figuring out the legal requirements for becoming a property manager often feels like trying to walk through a maze, but it’s an essential step if you want to run a legitimate business and avoid costly penalties. The first thing to know is that the rules for property management vary wildly from state to state. In some places, you might only need a real estate license, while others require a specific property management certification or even a broker’s license. You can’t afford to skip this step—operating without the proper credentials could land you in serious trouble!

   So, how do you get the ball in motion? First, check your state’s real estate commission or licensing board website. These sites are gold mines of up-to-date information on licensing requirements, ongoing education, and even upcoming changes to local laws. If you can’t find the details you need, don’t be afraid to pick up the phone and ask for guidance directly. You can also reach out to a local real estate attorney—they’re the experts in navigating these legal waters.

2. Figure Out What Services You Want to Offer

   Many real estate agents fall into property management by happenstance. A client of yours needs help finding a tenant and you think, “Oh, I can easily help with that.”

   Or maybe you own property of your own and you’ve been a landlord on the side, and now you’re wondering, “can a real estate agent be a property manager, too?”

   Regardless of how you found yourself in the property management waters, it’s important to dial in which services you’d like to make accessible for new clients. Start by identifying your team’s strengths and current capacity. Make a list of potential services—from marketing properties and screening tenants to handling maintenance requests and managing rent collection. You might choose to go full-service, covering every aspect, or specialize in specific areas like vacation rentals or commercial properties.

   Next, research your local market. What are the common needs among property owners in your area? Look at what your competitors offer and find gaps you can fill. Do you see a demand for 24/7 emergency services, or is there a niche for high-end property management with a concierge-style approach? Use this research to tailor your offerings. Consider how each service aligns with your long-term goals. If you want a steady income, leasing and ongoing management could be the way to go. If you’re after quick turnarounds, focus on leasing and tenant placement.

   Finally, you’ll need to master the art of property management pricing. This is an essential step you don’t want to overlook, ensuring you set yourself up for longterm success.

3. Begin Assembling Your Clients List

   If you’re a real estate agent looking to expand into property management, your existing client list is a goldmine! These clients already know, like, and trust you—making them the perfect audience for your new services. Start by identifying past clients who purchased investment properties. Reach out with a personal message, letting them know you’re now offering property management services. Highlight how you can help them save time, increase their rental income, and handle the day-to-day headaches that come with managing tenants.

   Don’t just stop at past buyers. Sellers are also potential leads, especially those who couldn’t get the price they wanted and might be open to renting instead. You can present property management as a temporary solution that keeps cash flowing until the market shifts.

   To make your outreach even more effective, create a special offer for your existing clients—like a discounted first month of management or a free property evaluation. Use your real estate expertise to show them you understand their property, the market, and how to maximize their investment. By leveraging your client list, you’ll have a head start in building the property management side of your business without starting from scratch!

4. Get the Word Out About Your New Services

   One of the best ways to spread the word is by creating a dedicated property management website. A professional site makes your business look serious and gives potential clients a place to explore what you offer. Focus on including digital property listings that showcase your available rentals, complete with high-quality photos, virtual tours, and detailed descriptions to attract both owners and tenants.

   Make sure your website is more than just a brochure—use it as a tool to streamline management. Integrate investor and tenant portals, allowing property owners to access financial reports, updates, and maintenance requests. Tenants should be able to pay rent, submit work orders, and communicate with you directly through the site. These features will make your business more appealing to both investors and renters, emphasizing your professional and tech-savvy approach.

   Other ways to spread the word include using traditional marketing methods and building a referral network.

Need Help Starting a Property Management Business?

Let’s face it: with so much to learn and questions galore, you need more than a simple how-to article exploring the links between real estate agents and property management. You need customized guidance, coaching, and support from peers who have walked this road before you. That’s where the DoorGrow Mastermind comes into play!

We’ve partnered with hundreds of property management professionals across North America, and our long track record speaks volumes. From branding, marketing, and websites to pricing strategy, operations training, and even hiring support, we’ve got you covered from A to Z.

Schedule a free call with our team today to learn how we can help you to achieve your financial goals.

Book a no-obligation consultation with us!