Key Differences
By definition, a real estate agent is someone who lists and sells properties for their owners. Though certain real estate agents specialize in helping buyers find and purchase investment real estate, the agent’s role is still mainly focused on the sales transaction. The function of a real estate agent leans purely upon the prevailing housing market. It is typical for real estate agents to find their business (and income) moving up and down as market conditions change. In certain cases, real estate agents may help search tenants for a rental property, moreover, their involvement with the tenant and the property owner typically ceases after the lease is signed.
A property manager, however, prioritizes helping property owners manage their rental properties. Even though each property manager will extend different services, the majority will usually work on behalf of a property owner to administer property maintenance and repair, tenant screenings, collecting rent payments, and so on. Unlike a real estate agent, a property manager is a contractual role in which they are remunerated for their ongoing management services. Property management is equally much less likely to be negatively affected by a slump in the housing market. As a matter of fact, property managers may find their workload increase in the course of market downturns as more property owners fall back on renting as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Beyond the fundamental differences between a real estate agent and a property manager, there are other things that brilliant property managers constantly do that real estate agents (and even other property managers) generally don’t. As an example, even though a real estate agent and most property managers will advertise a rental property to find new tenants, not all of them will certainly screen those tenants for red flags. When a tenant has been screened, an excellent property manager will initiate forming a rapport with the tenant by fostering open communication and very clearly explaining the lease documents. A great property manager will moreover schedule and perform regular maintenance on a property and attend to emergency repairs and tenant complaints.
Less common though beneficial services that a number of property managers provide include helping property owners analyze the local market, setting an accurate rental rate, and offering ideas on how to maximize a property’s earning potential besides your property’s resale value. They can likewise help you watch out for and compare additional rental properties, some of which might not be on the market yet. These are not usual services among a lot of property managers; mostly, only the best in the business will work thoroughly with rental property owners to really help you not just to manage property but also establish an investment business.
The Value of a Great Property Manager
Included in the nation’s top property management companies is Real Property Management. This happens because we grant a full range of services that rental property owners and investors want to accomplish their financial goals and dreams. The majority of our clients know that the value of the services we offer far outweigh the cost, mainly, by reason that our experts will aid you to set the correct rental rate and keep costs down by taking advantage of our preferred home services vendors. These are not things that you will be able to obtain just anywhere.
To learn more about Real Property Management Agile’s services, contact us online today!