Property Management as a Career
Stacy Brown is a professional property manager who trains and supports all the franchise owners and staff in the Real Property Management franchise system. Following is her perspective about making property management a career choice.
A real estate agent brings buyers and sellers together, to assist with the steps both must complete to ensure the property purchased is closed. Agents have knowledge of laws and procedures to keep property transactions running smoothly. In contrast, property management is the operation, control, and oversight of real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its useful life and condition. This is much akin to the role of management in any business. (Wikipedia)
When making the decision of a career path, many with their real estate licenses wonder whether there will be enough housing inventory to make a living with sales alone, and may be dipping their toes into the property management field as an alternative course of action.
If this describes you, then there are many reasons property management might be the right career choice. If you are a people person, like sales and customer service, and have an eye for details, you will hone these skills in this industry. You also have the opportunity of working both in an office and outside. No cubicle and easy listening music here!
I started in Property Management thinking it would just be a job that would help me with housing and to pay my bills until I found a real job. Yet many years have passed, and I am still in the industry and still passionate about shaping its future and image.
Early on, I found that I had a knack for aligning people and homes that were a perfect fit. Indeed, residents I had assisted usually renewed their leases many times in part because of the service they received from me. As my career as a property manager progressed, I learned that leadership is doing the right thing, and management is doing things right. I also learned that to truly succeed, you need to build a team — not a staff. Moreover, I found that there are many career paths within the property management industry, including the residential side with single or multi-family units, as well as commercial, common interest communities or industrial. Once in property management, you can choose which sector of the business is best for you. At this point in my career, I am teaching, coaching, and assisting the next generation of great property management leaders. How many industries have such a diverse arena of opportunities in so many different directions without asking for a specialized Degree?
So if you are capable of keeping owners and tenants happy, able to oversee repairs, and good at showing properties and are a multi-tasker at heart, then property management is right for you.