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Differences Between Property Managers and Real Estate Agents

A real estate professional and two clients focus on a laptop.
A widespread misunderstanding regarding property managers and real estate agents is that they are nearly identical. Nevertheless, a property manager’s role is significantly distinct from that of a real estate agent. Although the housing market is of great importance to both professions, there are far more differences than similarities. Rental property owners identify who to call when professional expertise is necessary by comprehending these distinctions.

Key Differences

In fact, a real estate agent is someone who lists and sells properties for their owners. While some real estate agents engage in helping buyers find and purchase investment real estate, the agent’s duty remains focused on the sales transaction. The current housing market is the sole determinant of the responsibilities of a real estate agent. As market conditions change, it is common for real estate agents to experience fluctuations in their business and income. Real estate agents may help find tenants for a rental property in certain circumstances; however, their relationship with the tenant and the property owner typically concludes once the lease is signed.

Conversely, a property manager focuses on helping property owners manage their rental properties. While each property manager will provide different services, most will tend to act on behalf of a property owner to supervise property maintenance and repair, tenant screenings, collecting rent payments, etc. A property manager is a contractual role in which they are paid for their ongoing management services, as opposed to a real estate agent. Property management is also considerably less susceptible to the adverse consequences of a housing market downturn. In truth, property managers may experience an increase in their responsibility during market downturns as more property owners adopt renting as an alternative to selling at a loss.

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 additional actions 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 most property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for warning signs. As soon as a tenant has been screened, an experienced property manager will begin to develop a connection with the tenant by fostering conversation and clearly explaining the lease documents. A competent property manager will also schedule and perform regular maintenance on a property and handle emergency repairs and tenant complaints.

Some property managers provide valuable services that are less common, such as assisting property owners in analyzing the local market, determining a reliable rental rate, and providing suggestions on maximizing a property’s earning potential and your property’s resale value. They can also help you find and compare additional rental properties, some of which may not even be currently available. These services are not commonly provided by many property managers; in general, only the most experienced professionals will work closely with rental property owners to help you run a property and build an investment business.

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 array of services that are essential for rental property owners and investors to achieve their financial objectives and aspirations. Most of our clients see that the value of our services far exceeds the cost because our experts will help you set an accurate rental rate and reducing expenses by using our favored home services vendors. These are hardly likely to be seen anywhere at random.

For additional information regarding Real Property Management Partners services in Grand Rapids and adjacent areas, contact us online or call 616-808-3088 today!

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