As the real estate market changes, there are more and more real estate agents who are moving from selling to renting. Many are making this choice to help cope with the conditions of the economy as more people are forced into renting their homes rather than purchasing. Agents are less familiar with the unique world of property management, but in some ways, they are still managing to transform it.
So, how have real estate agents changed the property management industry?
Real estate agents have always been a part of the property management industry, but their increasing role has changed the industry in the following ways:
Property Owners May Expect Fewer Services From You
real estate agents don’t usually run the whole show when they are helping fill a vacancy at a property. They may get a resident in the door, arrange the lease paperwork, and provide some references to maintenance contractors that could be useful for running the property, but that’s about it. If owners have worked with real estate agents before hiring you, they may not even realize the full gamut of services that property managers offer. This is a chance to wow them with all that you can do.
Property Owners Will Be Impressed By Your Dedication
let’s face it, if a real estate agent gets a property to sell and there is a large commission on the table, that is going to become his or her priority, and filling a property vacancy may be put on the back burner. As a property manager, you have the opportunity to show property owners that they are a priority since you are in the sole business of rentals. Property owners will be impressed that you are dedicated to them, especially if they have worked with an unfocused real estate agent in the past.
Property Owners Will Appreciate Having One Person To Contact
As a property manager, you will always be the point of contact for owners’ requests or concerns that pertain to the property. Real estate agents can’t promise this, simply because they offer more limited services. Therefore, anytime an issue comes up, property owners may find themselves frazzled when deciding whom to contact, because it isn’t always going to be the agent. Your property management office will always be the correct point of contact. Reinforce this with new property owners; they will find it both relieving and liberating.
Remember, real estate agents do not necessarily provide all of the same services that you do, and this is something that you can work to your advantage – both when marketing your business and your vacancies. Go the extra mile, and use all of the tools available to you to maintain those positive owner relationships.