Did you know... October 30, 2017

Real Estate Agents & Property Management

Did you know that although property managers are also real estate brokers, a good property manager needs different skills than successful sales brokers?  In an article about sales brokers and property managers*, the author says that sales brokers:

“count on an indeterminable blend of personality, salesmanship, and trust to do their jobs well. In other words, “people pleasing” is high on the list of desirable qualities for real estate agents.”

“Property managers, on the other hand, often end up mediating between the landlord and the tenant.  They need the ability to manage an ongoing relationship with both owners and tenants, balancing the needs and priorities of both parties.  This must be done while also complying with fair housing regulations, Landlord-Tenant laws as well as local codes and regulations.  While property managers would like to please both landlords and tenants, the reality is that this isn’t going to happen.  Someone will have to pay for the new carpet and the cost may be split between owner and tenant, thus angering both parties.”

*Chris Thorman, “What Real Estate Agents Need to Know about Property Management.”

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