Property managers and real estate agents frequently get mixed up with one another. Having said that, a property manager’s role is very different from that of a real estate agent. There are far more differences than similarities between the two professions, despite the fact that the housing market is essential to both. Familiarizing these distinctions can help rental property owners know who to call when professional expertise is necessary.
Key Differences
In fact, a real estate agent is someone who lists and sells properties for their owners. While some real estate agents work solely on helping buyers find and purchase investment real estate, the agent’s duty is still primarily focused on the sales transaction. The current housing market is essential to the achievement of a real estate agent. When market conditions change, it is normal for real estate agents to see changes in their business and revenue. Sometimes, real estate agents may help find tenants for a rental property, but their engagement with the tenant and property owner usually comes to an end after the lease is signed.
However, a property manager focuses on helping property owners manage their rental properties. Although every property manager is unique, many of them will operate on behalf of a property owner to deal with things such as property maintenance and repair, tenant screenings, collecting rent payments, etc. A property manager, contrary to a real estate agent, is engaged in a contractual role and accepts payment for their ongoing management services. A housing market downturn also has a far smaller impact on property management. In fact, during market downturns, more property owners may choose to rent as an alternative to selling at a loss, which can put extra pressure on property managers.
What Property Managers Do (And Real Estate Agents Don’t)
In addition to the basic differences between a real estate agent and a property manager, there are other things that top-rated property managers do that real estate agents (and even other property managers) simply don’t. For instance, while a real estate agent and many property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for potential issues. By promoting honest conversation and clearly explaining the lease documents, an effective property manager will begin developing chemistry with the tenant once a tenant has been screened. Aside from addressing emergency repairs and tenant complaints, a skilled property manager will also schedule and perform regular maintenance on the property.
Assisting property owners in analyzing the local market, selecting a reasonable rental rate, and providing suggestions on maximizing a property’s earning potential and your property’s resale value are some of the less typical but essential duties that some property managers do. They can also help you find and compare additional rental properties, some of which might not even be posted on sale. Only those with expertise in the industry will work closely with rental property owners to assist you in maintaining a property and building an investment business. These services are not frequently offered by property managers.
The Value of a Great Property Manager
One of the nation’s top property management companies is Real Property Management. This is due to the fact that we provide a comprehensive set of services that help investors and rental property owners achieve their monetary goals. Since our experts will help you determine an accurate rental rate and keep expenses low by employing our recommended home services vendors, most of our clients discover that the value of our services much exceeds the price. These are not the kind of stuff you can find at any old store.
To learn more about Real Property Management Pulse’s services in Lawrence and surrounding areas, contact us online or call 913-712-4470 today!
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