I hate to differ with some of the people posting here, but Oregon real estate brokers and principal brokers are ALSO allowed to practice property management, although Oregon property managers are allowed ONLY to practice property management. Property managers are not allowed to list or sell property in exchange for compensation, and they may not assist owners in estimating the sale value of real estate.
I'm not a lawyer, but every Oregon real estate licensee is taught as part of his or her initial training for a real estate license that Chapter 696 of Oregon Revised Statutes is the guiding law for real estate licensing. ORS 696 specifically states that both real estate brokers and principal brokers may engage in "professional real estate activity," which the statute, in summary, defines as activity for compensation to rent, lease or manage real property. The full ORS can be found at:
Although licensed to practice property management, some Oregon real estate brokerage companies choose not to engage in property management, and prohibit their affiliated brokers from this activity. However, this is a business decision of each company's management, and has nothing to do with a legal ban on real estate brokers working to rent, lease or manage real property.
And not to pick nits, but a Realtor is not a person licensed to practice any particular kind of real estate activity. A Realtor is a member of the National Association of Realtors, a professional organization that includes in its ranks real estate brokers and principal brokers, as well as a number of other real estate-related professionals such as property managers, appraisers and lawyers.