How to Stay afloat in this market

Good point. We all need to have a steady source of income with multiple pillars. Property Management is a great service and a way to help sellers who need to move but can't sell their home.

You have to roll with the punches in order to stay afloat in this business!

Jessica - you're right that more and more people are opting to rent here on the Treasure Coast for several reasons.  Along with the tax and insurance reforms we're all waiting on, there's a glut of rental properties available at very reasonable rates due to investors and builders who can't sell their spec houses at a profit right now.  While waiting for the state to get their act together regarding taxes and insurance the sellers are renting and the buyers are renting.

However, agents who want to add to their income need to know there's a big difference in finding tenents for rental properties and "property management".  Property Management requires the proper escrow accounts, vendors for services, round the clock emergency contacts, and the means to handle a myriad of problems.  So, yes, working with tenants instead of buyers is a way to get through the slower market, but unless they work with a company that has a dedicated Property Management Division agents should be very careful not to get in over their heads with property management.