Key Differences
Essentially, by definition, a real estate agent is someone who lists and sells properties for their owners. While most real estate agents do specialize in helping buyers find and purchase investment real estate, the agent’s role is still primarily focused on the sales transaction. The job of a real estate agent depends exactly upon the current housing market. It is normal for real estate agents to observe their business (and income) moving up and down as market conditions change. Once in a while, real estate agents may help find tenants for a rental property, but, oftentimes, their involvement with the tenant and the property owner generally ends by the time the lease is signed.
In comparison, a property manager focuses on helping property owners manage their rental properties. While each property manager will offer their own unique services, most will often work on behalf of a property owner to take charge of property maintenance and repair, tenant screenings, collecting rent payments, etc. In contrast to a real estate agent, a property manager has a contractual role in which they are compensated for their ongoing management services. Property management is moreover much less likely to be damagingly affected by a slump in the housing market. It appears that property managers may notice their workload accumulate during market downturns as more property owners turn to renting as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Definitely, beyond the basic differences between a real estate agent and a property manager, there are other things that top-rated property managers always do that real estate agents (and even other property managers) simply don’t. For illustration, while a real estate agent and countless property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for any potential red flags. In the case that a tenant has been screened, an excellent property manager will start building rapport with the tenant by consistently developing open communication and clearly explaining the lease documents. An excellent property manager will additionally schedule and perform regular maintenance on a property and work on emergency repairs and tenant complaints.
Less common but vital services that numerous property managers bestow include helping property owners analyze the local market, create a suitable rental rate, and offer suggestions on maximizing a property’s earning potential and your property’s resale value. They can, moreover, help you find and compare additional rental properties, the majority of which may not even be on the market. These are not the normal services among a lot of property managers; usually, only the outstanding ones in the business will work closely with rental property owners to help you excellently manage a property and build an investment business.
The Value of a Great Property Manager
Among the nation’s top property management companies is Real Property Management. This is because of the fact that we offer a vast range of services that rental property owners and investors actually need to achieve their financial goals and dreams. Many of our clients identify that the value of our services hugely exceed the cost taking into account that our experts will help you make an accurate rental rate and keep costs down by employing our heedfully chosen home services vendors. These are not things that you will be able todiscover from just anywhere.
To learn more regarding Real Property Management Supreme’s services in Mercer Island and surrounding areas, be sure to contact us online or call 425-448-2877 today!