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What’s the difference between a commercial property manager and a commercial real estate agent?
Number one, depending on the firm you are at you can’t be both. You have to either be an agent that transacts or a manager that manages the property, looks over repairs, and earns an income as a percentage of what the company makes off of the ongoing leases of the company.
Personally, I prefer the agent track.
Why? Your income isn’t capped. You go from transaction to transaction, building to building, more relationships to more relationships.
When you’re in a commercial property management role at a firm in-house, you have limitations. You can’t necessarily do deals outside, you can’t necessarily build relationships because the company owns those relationships.
So when you’re thinking about how to get into real estate, which role may work well for you, I would think about what kind of workday you want.
Do you want a nine to five which could be perfect to be a commercial property manager? You come in at nine o’clock, you have the emails, you deal with the tenants, bring in new tenants, and then you can leave at five.
If you want to work a little bit longer, you’re going to be a broker, you’re going to be an agent to start, and you’re going to work your way up. You’re going to have an indefinite number of hours you work, but an indefinite amount of money you can make.