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Differences Between Property Managers and Real Estate Agents

Mamaroneck Property Manager Meeting with ClientsA frequent misconception about Mamaroneck property managers and real estate agents is that these occupations are more or less the same. But in reality, a property manager’s job is not similar to that of a real estate agent. While both positions are closely related to the housing market, there are far more differences than similarities. Understanding these differences can guide rental property owners to know who to call when professional expertise is necessary.

Key Differences

A real estate agent, by definition, is a person who lists and sells properties for their owners. While certain real estate agents specialize in assisting buyers to find and purchase investment real estate, the agent’s role is still centered on the sales transaction. The work of a real estate agent is dependent on the current housing market. As market conditions shift, it is typical for real estate agents to find their business (and income) going up and down. In some instances, real estate agents may aid find tenants for a rental property. Still, their involvement with the tenant and the property owner usually ends when the lease is signed.

On the other hand, a property manager would be hands-on with helping property owners manage their rental properties. Every property manager can offer a lot of services. Still, the bulk of their duty would be working on behalf of a property owner to oversee property maintenance and repair, tenant screenings, collecting rent payments, etc. A property manager, not like a real estate agent, is a contractual role wherein they are paid for their ongoing management services. Property management is also less likely to be badly affected by a fall in the housing market. In fact, property managers may notice that they would get more workload during market downturns as a lot of property owners turn to renting as another avenue instead of selling at a loss.

What Property Managers Do (And Real Estate Agents Don’t)

Apart from the main differences between a real estate agent and a property manager, there are more tasks top-rated property managers do that real estate agent, and even other property managers, usually don’t. While a real estate agent and the bulk of property managers will advertise a rental property to get new tenants, not all of them will precisely screen those tenants for possible red flags. After a tenant has been screened, a good property manager will begin building rapport with the tenant by having open communication and explaining the lease documents in a clear manner. To add, a good property manager will schedule and perform regular maintenance on a property and deal with emergency repairs and tenant complaints.

Helping property owners analyze the local market, setting an accurate rental rate, and offering suggestions on how to maximize a property’s earning potential, as well as your property’s resale value, are some of the less common but valuable services that some property managers offer. They could also help you find and compare additional rental properties. They can even get you properties that are not yet on the market. These are not ordinary services among all property managers. Usually, only the top in the business will closely work with rental property owners to help you not just manage property but build an investment business.

The Value of a Great Property Manager

Real Property Management is the state’s top property management company. This is because we can give a full range of services that rental property owners and investors need to reach their financial goals and dreams. Our experts will help you to set an accurate rental rate and keep costs down by using our preferred home services vendors. This is why a lot of our clients see the value of our services far exceeds the cost. And these are good deals that you can’t find just anywhere else.

To learn more about Real Property Management DePenn’s services, contact us online today!

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